L4M2 Focus Areas

These are some common learning areas that CIPS often asks in the exam. However we can not assure that they will not ask other areas of knowledge.

Types of purchase: Straight re-buy, modified re-buy, new purchase. When are they used?
Cost and benefit analysis: Payback period
Primary and secondary sources of information
Identify direct and indirect costs
Total cost of ownership
Types of benchmarking
Positive and negative cash flow
Budget variance
Economic sectors: manufacturing, construction, agriculture, financial
Porter’s Five Forces: buyer’s and supplier’s bargaining power
The use of conformance and performance specification
Common ISO Standards
Risks of over- and under-specification
Roles of standardisation, value analysis, value engineering
Differences between value analysis and value engineering
Stakeholders’ roles in specification development.

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