CIPS Level 2 Procurement and Supply Operations (L2M2) Assignment Sample UK

The CIPS Level 2 Procurement and Supply Operations (L2M2) course is designed to provide learners with a comprehensive overview of the complex and dynamic world of procurement. Through this course, learners can acquire a range of knowledge, skills, and abilities that will be beneficial when entering into procurement-related roles. This qualification focuses on key areas such as understanding relevant legislation, developing business relationships, evaluating supplier tenders and contracts, using specific purchasing procedures, plus much more.

Whether looking for guidance on essential processes or interested in gaining a solid foundation for further studies in procurement and supply operations, the L2M2 course has something to offer everyone looking to kickstart their career in this fascinating field.

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Assignment Brief 1: Know the types of organizations and how they operate.

When investigating how organizations operate, it is essential to consider the different types of organizations that can exist such as non-profits, government agencies, and limited companies. Each type of organization has a unique purpose and way in which it carries out its operations. For example, non-profits typically exist to identify and support a specific cause or community while government agencies must abide by regulations and protocols set by local governments.

Identify the types of business organizations.

There are several different types of business organizations, the most common being sole proprietorships, partnerships, corporations, and limited liability companies. Sole proprietorships are owned by a single individual and offer the owner minimal protection from personal liability; whereas partnerships consist of at least two owners and provide better liability protection than a sole proprietorship. Corporations are owned by many individuals who purchase stock in the company, but whose owners are not liable for corporate obligations.

Finally, limited liability companies combine the benefits of both a partnership and corporation by providing limited personal liability to all its member-owners while allowing them to take advantage of pass-through taxation. Each of these types of business organizations has distinct advantages and drawbacks depending on the purpose and goals of formation.

Describe how organizations operate.

Organizations operate as complex systems and have a wide variety of components, processes, and operations. Companies will often employ departments such as finance, human resources, legal, marketing, and IT amongst other departments that are dedicated to streamlining processes surrounding the essential functions and schedule of the organization. These individual components work together to provide the organization’s overall mission – whether it be to deliver a product or service or power knowledge sharing. Ultimately it is the cohesive operation of all these departments that allows an organization to function smoothly in order to achieve its goals.

Identify the key operating functions within organizations.

Within an organization, different operating functions exist that are essential for the successful performance and running of operations. Most organizations identify five primary operating functions which include human resources, finance, operations management, marketing, and information technology. Each of these operating functions plays a vital role in helping the organization accomplish its goals and objectives within any given span of time.

Human resources handle the issues regarding recruitment, hiring, and pieces of training while finance is responsible for the money flow that keeps the organization running. Operations management deals with managing the internal processes and operations while marketing handles external promotion to conceptualize event ideas to customers or clients. Lastly, information technology handles hardware maintenance as well as software upgrades to keep up with new technologies in an ever-changing environment.

Assignment Brief 2: Know the components of contractual agreements.

Contractual agreements can be complex, but understanding the basic components is key to creating a strong agreement. There are three primary components of contractual agreements: offer, acceptance, and consideration. The offer is when one party makes a proposal that another party can accept or reject. Acceptance occurs when the recipient of the offer agrees to its terms. Lastly, consideration refers to what each party gains from the agreement – it is often money or promises between both parties. Understanding these components will help ensure that any contractual agreement effectively meets everyone’s needs and helps protect all involved in the agreement.

Identify types of contracts.

Contracts are an important part of many business transactions and interactions. There are several categories that contracts typically fall into, such as employment contracts; services contracts; purchase/sales agreements; lease agreements; and license or royalty agreements. Each category may contain different provisions, depending on the specific contract at hand.

For example, in a service contract between two parties, one party may be agreeing to pay the other for labor or services rendered while a sales agreement outlines the terms of purchase between a buyer and seller. Regardless of the type of contract involved, it is important to outline all details in writing in order to create an enforceable agreement.

Identify the kind of pricing arrangements applied in commercial contracts.

Pricing arrangements in commercial contracts often differ depending on the type of agreement being negotiated. Fixed-price contracts are typically structured when a set amount is agreed upon prior to any work taking place and the buyer agrees to pay this amount without any changes, regardless of external factors. Cost-plus pricing is when a buyer pays for all direct costs involved in completing the job, plus an agreed-upon fee or percentage as compensation for the contractor’s working hours.

Time and materials contracts involve buyers agreeing to pay for all services performed at an hourly rate with additional expenses attributed toward materials used. Pricing arrangements chosen should reflect the needs of both parties while giving buyers an understanding of possible cost estimates that may be incurred during the duration of a project.

Define the different documents that compose a contract for the purchase or supply of goods or services.

A contract for the purchase or supply of goods or services typically includes the following documents:

1. Purchase order: This document initiates the contract and outlines the details of the goods or services to be provided, including the quantity, price, and delivery date.
2. Proforma invoice: This document is issued by the supplier and is a preliminary invoice that provides an estimate of the total cost of the goods or services.
3. Sales invoice: This document is issued by the supplier and is a formal invoice that includes the details of the goods or services provided, the price, and any taxes or other charges.
4. Bill of lading: This document serves as a receipt for the goods and is issued by the carrier (e.g., shipping company or trucking company) as proof that the goods have been received for shipment.
5. Delivery note: This document is issued by the supplier and serves as proof of delivery of the goods.
6. Inspection report: This document is issued by an independent inspector and certifies that the goods meet the specified quality standards and specifications.
7. Warranty: This document outlines the terms and conditions of the warranty provided by the supplier for the goods or services.
8. Payment term and mode: This document states the payment amount, payment date, and mode of payment.

These documents can vary depending on the nature of the goods or services being purchased and the specific terms of the contract.

Assignment Brief 3: Understand sources of information on suppliers and customers.

There are several sources of information on suppliers and customers. Some common sources include:

1. Company websites: Many companies have a website that provides information about their products or services, contact information, and other relevant details.
2. Trade associations: Trade associations often have directories or databases of companies in a particular industry or sector.
3. Online directories: Websites like ThomasNet and Alibaba provide detailed information on suppliers and manufacturers.

Explain the use of the Internet to locate details about suppliers and customers.

The internet can be used to locate details about suppliers and customers in a variety of ways. Some examples include:

• Search engines: Use search engines such as Google or Bing to find websites or information about specific suppliers or customers.
• B2B marketplaces: Websites such as Alibaba or ThomasNet allow businesses to find suppliers for specific products or services.
• Social media: Platforms like LinkedIn or Twitter can be used to find and connect with potential suppliers or customers.
• Industry-specific directories: Many industries have online directories that list suppliers and customers for that specific industry.
• Publicly available information: In some cases, information about suppliers or customers may be available on their own websites or through government databases.

Overall, the internet provides businesses with a wealth of information about potential suppliers and customers, making it easier to connect and build relationships with them.

Explain the use of credit rating agencies.

Credit rating agencies are companies that assess the creditworthiness of individuals and organizations. They use a variety of financial information to assign a credit rating, which is a measure of the borrower’s ability to repay a loan. These ratings are used by investors, lenders, and other financial institutions to determine the risk associated with lending money or investing in a particular borrower. The higher the rating, the lower the perceived risk, and the more likely the borrower is to receive favorable loan terms and interest rates. Credit rating agencies also issue reports on the creditworthiness of companies, governments, and other entities, which can be used by investors to make informed investment decisions.

Describe systems used in procurement and supply.

Procurement and supply systems refer to the processes and technologies used to acquire goods and services from suppliers. These systems are designed to streamline the procurement process and improve efficiency, accuracy, and transparency. Some common types of procurement and supply systems include:

1. Electronic procurement systems: These are web-based platforms that allow organizations to purchase goods and services electronically. They can be used to create and manage purchase requisitions, solicit bids from suppliers, and process purchase orders.
2. Supply chain management systems: These systems help organizations manage the flow of goods and services from suppliers to customers. They can be used to track inventory levels, plan production schedules, and optimize logistics and transportation.
3. Vendor management systems: These systems are used to manage relationships with suppliers. They can be used to track supplier performance, manage contracts, and monitor compliance with regulations.
4. Spend analysis systems: These systems help organizations analyze and manage their spending on goods and services. They can be used to identify cost savings opportunities and track compliance with procurement policies.
5. e-Sourcing systems: These systems are used to identify and evaluate potential suppliers, conduct electronic auctions and negotiations, and manage contracts.
6. Inventory management systems: These systems help organizations manage their stock levels and reorder products as required. They can also be used to track inventory movements and monitor stock levels across multiple locations.
7. Procure-to-pay systems: These systems automate the entire purchasing process, from requisition to invoice payment. It includes e-Requisition, purchase order, goods receipt, invoice verification, and payment.

All these systems are designed to improve the efficiency and effectiveness of procurement and supply processes while reducing costs and increasing transparency.

Assignment Brief 4: Understand pricing methods used for the purchasing of goods or services.

There are several pricing methods that can be used when purchasing goods or services, including:

1. Cost-plus pricing: This method involves adding a markup to the cost of goods or services in order to determine the final price.
2. Value-based pricing: This method involves setting the price based on the perceived value of the goods or services to the customer.

Explain the advantages and disadvantages of a range of pricing methods.

Pricing methods can be broadly classified into two categories: cost-based pricing and value-based pricing.

Cost-based pricing involves setting the price of a product or service based on the cost of producing it. Advantages of cost-based pricing include:

• Simplicity: it’s easy to calculate the price by simply adding a markup to the cost of the product or service.
• Transparency: it’s easy for customers to understand how the price is determined.
• Objectivity: it’s not influenced by subjective factors such as market trends or competition.

Disadvantages of cost-based pricing include:

• Lack of flexibility: the price may not be able to be adjusted to reflect changes in costs or market conditions.
• Lack of competitiveness: the price may not be able to be lowered to compete with other companies.

Value-based pricing involves setting the price of a product or service based on the perceived value it provides to the customer. Advantages of value-based pricing include:

• Flexibility: the price can be adjusted to reflect changes in market conditions or the value provided to the customer.
• Competitiveness: the price can be lowered to compete with other companies.

Disadvantages of value-based pricing include:

• Complexity: it can be difficult to determine the perceived value of a product or service.
• Subjectivity: the perceived value of a product or service may be influenced by subjective factors such as market trends or competition.

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