CIPS L2M2 Procurement and Supply Operations Assignment Sample UAE

Contracts are the backbone of any successful business, but they’re not easy to come by. In order for procurement and supply professionals in an office or organization with limited resources like knowledge about contracts from all sides, it’s necessary that each individual has a grasp on what he needs for his job at hand – which means knowing how those pesky legal agreements work!

The idea behind this course isn’t just learn who we should sign when; there will also be plenty of information given so you can make better decisions during your research phase whether as buyer/vendor because let’s face it: nobody wants more headaches down-the-road.

 

 

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Find the right answers for your CIPS L2M2 Procurement and Supply Operations assignment with our helpful team. We have a number of resources to help you with your procurement and supply operations assignment. The most effective way is by using the CIPS Supplier Intelligence database, which contains more than 15 years worth of data on suppliers in all industry verticals including their business practices as they relate directly to meeting customer needs.

Assignment Task 1: Identify the types of business organisations

The various types of business organization are listed below:

1. Private organisations are those that are owned by individuals or groups of individuals. They may be small businesses or large corporations. The owners make the decisions about how the company is run and what profits are made.
2. Public organisations are owned by the government and run for the benefit of the public. They provide services such as healthcare, education and transport and can be either local, national or international in scope.
3. Third sector organisations (also known as not-for-profit organisations) are those which exist to serve a social purpose rather than make a profit. They can be charities, trade unions, professional associations or sports clubs.
4. A production organisation, also known as a manufacturing company, is an entity that aims to produce goods for sale. In contrast to a service organisation, which provides services rather than manufactured items, a production business looks at the whole process of turning raw materials into finished products while taking on some risk and cost of this process. Examples of businesses in the production mode are Microsoft and General Motors
5. A service organisation provides some type of service rather than producing goods for sale. Services include consulting expertise, legal advice or PR support from organisations such as law firms – all activities which do not entail manufacturing what they offer. Some more examples are banks providing financial services and universities offering courses on topics such as art or philosophy.

Assignment Task 2: Describe how organisations operate

Organisations are typically structured hierarchically, with a clear chain of command. Employees report to a supervisor, who reports to a manager, and so on up the chain.

This type of structure is necessary in order to ensure that everyone is aware of their role within the organisation and knows who to go to for instructions or guidance. It also helps to ensure that decisions can be made quickly and efficiently, without having to consult with too many people.

However, this type of structure can also lead to communication problems and bottlenecks when decisions need to be made. Additionally, it can be difficult for employees at the lower levels of the hierarchy to make their voices heard.

Assignment Task 3: Identify the key operating functions within Organisations

The key operating functions within organisations can vary depending on the type of organisation, but typically they include management, finance and accounting, marketing and communications, human resources, and information technology. Within each of these areas, there are a number of specific functions that need to be carried out in order for the organisation to operate effectively. 

 

 

For example, management is responsible for setting the overall strategy and direction of the organisation, while finance and accounting are responsible for ensuring that financial resources are managed efficiently. Marketing and communications create and execute plans to promote the organisation’s products or services, while human resources oversees all aspects of employee recruitment, training and development, and compensation and benefits. And information technology manages all aspects of the organisation’s IT systems and infrastructure.

Assignment Task 4: Identify types of contracts

There are three different types of contracts that you can enter into on the energy market.

• Spot purchase is for buying sole fills on the day-ahead or real-time wholesale electricity markets. This type of contract typically lasts just one day, and will typically work by you/your business buying electric energy at what was forecasted to be a relatively cost-effective price on the spot market on that day but sometimes it doesn’t work out so well. As such, this form of contract has some serious risks associated with it as forecasts can turn out to be wildly inaccurate.
• Term Contracts offer consumers or businesses signed up through their service provider (usually) consistent prices throughout the term of your signed agreement; however, these prices may increase every few months by a set percentage as per the contract. The term contract locks in a consumer/business at a known price for an extended period of time, usually between one and five years.
• Forward Contracts are generally used to hedge your risk from rising energy prices. In effect, you’re agreeing today to purchase electric energy at a set price that will be delivered at a future date. This contract can be used to fix the price you pay for your energy, regardless of market conditions. In this way, it works very similar to buying insurance–you’re paying a premium today in order to avoid potential losses in the future.

Assignment Task 5: Identify the kind of pricing arrangements applied in commercial contracts

The four types of pricing arrangements in commercial contracts are cost-plus, fixed, lump sum and time and materials.

1. Cost Plus: this type of pricing arrangement references the actual costs associated with producing a good or service at the end of every transaction period. An example would be if your company makes sold their services for $500 per hour, then they would add all the expenses up after that work week to know how much money they made for that whole quarter which would then be input into future predictions.
2. Fixed Price: A fixed price is essentially you paying a set amount for a product regardless of quantity or quality while still getting exactly what you paid for. This means the client pays a preset sum to complete one task without concern over increased costs.
3. Lump Sum: Lump sum contract is a type of commercial contract that includes all the costs that go into producing a product. This means that you pay an entire amount and do not care about how many hours it took for someone to complete your project. Usually, this form of pricing arrangement comes with a disclaimer which states you will only be charged for work that you approve.
4. Time and Materials: This form of pricing arrangement is the last commercial contract type; it requires a negotiated fixed hourly rate plus an additional charge for any overages at the end of every hour worked. For example, if someone was to make $20 per hour, but their client wants an extra 10 hours added on top of what they originally contracted, the client would be required to pay an extra $100 for every hour over their original agreed upon time with the contractor.

 

 

Assignment Task 6: Define the different documents that compose a contract for the purchase or supply of goods or services

The Purchase Order, the Terms and Conditions, the Quote, and the Invoice.

1. The Purchase Order is a document that is issued by the buyer to the seller, specifying the items that are being ordered and the price for each item.
2. The Terms and Conditions are a document that is usually attached to the Purchase Order, which sets out the terms of sale between the buyer and seller. This document may include information such as payment terms, delivery terms, warranties, and return policies.
3. The Quote is a document that is prepared by the seller and sent to the buyer, which sets out all of the details of what will be supplied (including price) and how it will be delivered.
4. The Invoice is a document that is prepared by the seller after the goods have been shipped to the buyer. The Invoice details what has been sent, how much it cost (price and shipping), and taxes applicable to the purchase.

Assignment Task 7: Explain the use of the Internet to locate details about suppliers and customers

Internet research allows you to find out information that is not in the public domain. Companies usually have a website with pages about their business, products, and history. There are many publications with reviews of products by journalists which inform readers about the latest technology. Another avenue of finding information is searching multiple sources on Google or using tools like YouTube for example. Researching on forums or blogs are helpful too because it will provide “viral” marketing for your product when people can be interested in it by reading through info online instead of conventional commercials when they want the buzz to spread naturally when topics become interesting to them offline.

The internet has also leveled the playing field for small businesses. No longer do you need to be a large company with a big advertising budget to have a web presence. You can create a website for free, and there are many companies that offer low-cost or even free web hosting. You can also use social media sites like Facebook and Twitter to market your business for free.

The internet has also made it easier for people to find information about products and companies. You can search for reviews of products before you buy them, and you can find information about companies that you may want to do business with. The internet has also made it easier for businesses to reach potential customers. You can create a website for your business and reach out to customers all over the world.

Some of this information is directly related to product marketing, such as reaching potential customers who want to buy products like yours; but much of the information that you find online will not be useful for sales purposes right away, or at all. However, it can still be helpful to know what is being said about your product and your company online. It can help you to identify potential problems and to take steps to address them.

Assignment Task 8: Explain the use of credit rating agencies

Credit rating agencies are private companies that assign credit ratings to entities such as businesses and governments, in order to help investors assess the creditworthiness of those entities. The three largest credit rating agencies are Standard & Poor’s, Moody’s, and Fitch Ratings.

Credit ratings are determined by examining an entity’s financial history and current financial condition. The credit rating agencies use a variety of formulas to calculate a credit score, but the most important factors are an entity’s debt levels, its ability to repay its debts, and the liquidity of its assets.

A high credit rating means that the agency believes that it is very likely that the entity will be able to repay its debts on time. A low credit rating means that the agency believes that the entity is at high risk of defaulting on its debts. A company’s credit rating can affect both its ability to borrow money and how much it will have to pay in interest when it does so.

Assignment Task 9: Describe systems used in procurement and supply

Product sourcing involves three main activities. It includes market research, selecting the right suppliers, and maintaining relationships with those suppliers. Supplier management is also an important activity involved in supply chain management.

 

 

Supply-chain payment systems are used to transfer money from payment to products or services purchased by traders who act as their customers or by manufacturers who sell directly to consumers. Companies may use both cash payments and deferred payment mechanisms such as factoring, delayed delivery purchase orders, deferred price purchase commitments (also called contracts), negative-acceleration clauses (NACs), drop shipment agreements, consignment agreements or just accepting credit cards. There are different ways of managing goods along a supply chain based on product types and customer needs which can be broadly differentiated into two categories:

• Physical products that are sold over the internet.
• Virtual products, such as information services and virtual goods, which are provided over the internet.

Assignment Task 10: Explain the advantages and disadvantages of a range of pricing methods

There are a few different pricing methods that can be used, and each has its own set of advantages and disadvantages-

• Fixed price: This is when a business sets a fixed price for a product or service and does not change it regardless of the customer’s location or buying power. The advantage of this method is that it is easy to understand and allows for long-term planning. However, it can be disadvantageous if market conditions change and the company is unable to reduce its prices without losing money.
• Variable price: With this method, the price of a product or service changes depending on the customer’s location or buying power. The advantage of this method is that it can help businesses to maximize their profits by charging more for products or services in places where people have a high disposable income, and charging less in areas where consumers can’t afford to pay as much. The disadvantage is that it can be difficult for businesses to predict how much they will actually make from each sale.
• Pricing-to-market: This pricing plan evaluates the prices of similar products in the market to determine what the appropriate price should be. The advantage of this method is that it allows businesses to avoid competing on price, and instead compete on factors that are important to customers, such as quality or convenience. The disadvantage is that products may not sell if they are more expensive than similar ones available in the market.
• Price penetration: This method involves setting a low price on a product to attract customers, and then increasing the prices over time. The advantage of this pricing plan is that if it is done very slowly, businesses can build a reputation for great value. However, if the initial prices are too low or increases in price happen too quickly, customers may question whether they can trust a business.

 

 

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