CIPS Level 6 Assignments


CIPS Level 6 Future Strategic Challenges for the Profession (L6M4) Assignment Sample UK

CIPS Level 6 Future Strategic Challenges for the Profession (L6M4) Assignment Sample UK

The CIPS Level 6 Future Strategic Challenges for the Profession (L6M4) course is an excellent opportunity for experienced professionals to gain a deep understanding of key strategic elements, enabling them to proactively develop their employment marketability and sharpen their competitive edge. The course focuses on innovative strategies, drawing from relevant current events and research while honing in on topics such as an analytical-assessment framework, purposeful execution of plans, and leveraging long-term competitiveness. With the guidance of experienced facilitators using real-world learning materials, participants will gain the necessary skillset to make well-informed decisions in complex environments and confidently face future challenges.

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Here, we explore some task activities that are involved in the project. Specifically:

Assignment Activity 1:  Understand the changing needs and requirements for procurement and supply.

As organizations continue to expand across geographical boundaries and new technologies emerge, their procurement and supply needs evolve. Procurement and supply professionals need to be versed with the latest techniques in order to efficiently source and manage their supplies. New technologies, such as artificial intelligence, machine learning and blockchain, bring opportunities for organizations to optimize the use of resources while managing risks more effectively. In order to stay on top of the changing requirements they must have a thorough knowledge of the emerging trends in the market and be proactive in using them. Understanding emerging technology, tools, as well as global trade agreements, are all essential components of successful procurement and supply management practices.

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Assess what the future strategic procurement and supply function will look like.

The future of strategic procurement and supply is filled with tremendous potential. As technologies continue to improve, organizations will be able to leverage those advances for better, faster and more cost-effective procurement and supply chain solutions. Online marketplaces will create an even playing field and allow companies operating in diverse geographies to access suppliers on a global scale.

Furthermore, the utilization of AI-based decision-making will ensure that decisions are made quickly, accurately, and account for all factors – from price to quality. The convergence of these forces has the potential to revolutionize strategic procurement and supply chains today – resulting in greater efficiency, reduced risk, and reduced costs.

Contrast the future skills and expectations of strategic procurement and supply leaders.

Strategic procurement and supply leaders have a multitude of skills that define their success. In the future, those skills must be flexible and adaptive if the leader is to remain successful. Leaders will need to discover new methods for cost savings, find ways to use data analytics, and develop sustainability strategies in order to stay ahead of the competition. With these strategies combined, supply chain leaders will be uniquely positioned for positive outcomes that reach across industries and marketplaces.

In addition, it will be expected that procurement and supply leaders have an understanding of geopolitical and economic trends that could affect their business’s global operations. Skills such as strong collaboration with colleagues, good communication abilities, resourcefulness, and delivering value are core tenets of today’s strategic procurement professional; all of which will continue to hold true in the future as well.

Contrast the influence of emerging businesses and markets on the procurement and supply function.

The emergence of new businesses and markets has cast a great influence on the procurement and supply function. This can be seen in the increasing number of organizations giving increased weightage to sustainability, ethical practices, cost savings, risks mitigation and technology implementation in their procurement strategies. It has also compelled organizations to collaborate across multiple industries or with business partners from different parts of the world along with changing market rules and laws that must be followed for compliance.

However, there are numerous opportunities for them as well in terms of efficient use of resources and accessing newer markets under favorable conditions. All these indicate that procurement is no longer just a procurement process but involves various strategic portfolios such as sustainable development or partnerships with emerging businesses and markets.

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Assignment Activity 2: Understand the future challenges for the procurement and supply profession.

Procurement and supply professionals face a number of complex challenges in the future. With new technologies and regulations emerging daily, staying up-to-date is an essential goal that requires continuous research and knowledge-sharing among peers. Additionally, globalization has combined with increasing competition to bring about greater complexity within the industry, meaning procurement and supply professionals must be well-versed in each respective country’s regulations and market environment.

Evaluate the emerging role and influence of innovation and technology on the profession.

Innovation and technology are transforming the professional landscape, allowing businesses to increase productivity, simplify processes, and gain a competitive edge. Professionals of all kinds must understand how to leverage innovation and technology in order to adopt new trends and outpace their rivals. In addition, emerging digital systems enable professionals to more easily access analytics and insights into customer behavior, allowing them to hone their strategies with greater success. In short, innovation and technology are providing professionals with invaluable tools for remaining ahead of the game in an increasingly digital world.

Assess the changing boundaries and shape of the profession.

The frontiers of professional practice have been rapidly shifting in recent years, driven by advances in technology, the changing relationship between clients and service providers, and an increasingly global economy. Increasingly, digital solutions, including cloud computing and machine learning technologies have had a significant impact on boundaries within professions. Areas of practice that were previously isolated are now merging together to form multi-skilled roles for professionals like accountants who not only crunch numbers but also provide strategic advice.

Meanwhile, customers from across the world can access services from established experts without requiring them to be physically present. This is having a dramatic impact on how existing professions are organized with entirely new skill sets being developed to meet these ever-evolving customer needs. It is clear then that what was once familiar terrain for many professionals is now a continuously evolving landscape requiring considerable adaptability from practitioners in order to remain competitive.

Evaluate future challenges for the profession.

An undeniable future challenge for the profession is adapting to new technology. In modern times, software and hardware are advancing at an unprecedented rate, which can make it difficult for those in the profession to keep up. As such, honing expertise in emerging technologies and keeping up-to-date with industry news will be essential for those who wish to remain competitive.

Moreover, not only will the profession be required to stay abreast of new advances in their respective fields, but they must also continue to evolve and ensure that their services or products are of the highest quality. This rising demand for enhanced skills and qualifications could prove a major challenge for many professionals and necessitate reinvestment into professional development as well as upskilling measures.

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