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CIPS Level 6 Global Commercial Strategy (L6M2) Assignment Sample UK
CIPS Level 6 Global Commercial Strategy (L6M2) Assignment Sample UK
The CIPS Level 6 Global Commercial Strategy (L6M2) course is an ideal opportunity for existing procurement professionals aiming to take the next steps in their careers. This cutting edge program provides learners with a comprehensive understanding of current trends and practices in global contracting, as well as strategies for increasing efficiency within teams and organizations.
Through this course, students can become knowledgeable in systems used to assess cost-benefit analysis and output–all with the potential to create increased levels of cost-effectiveness while maintaining quality standards. With enhanced career prospects and improved knowledge of industry standards, this course helps prepare buyers for the challenges of international who want to make sure their negotiations ensure value for money.
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Assignment Task 1: Understand and apply the concept of commercial global strategy in organizations.
Applying a commercial global strategy to organizations can be a valuable asset, as the company is then able to analyze the competitive global environment and adjust their business objectives accordingly. Implementing both regional and global strategies are critical in developing a competitive advantage and increasing efficiency within the organization. This helps to maximize financial performance by optimizing resources, such as research and development, production, marketing, and cost structure in relation to global competitors. Establishing effective market entry strategies also involves analyzing various markets including customer needs and preferences, legal restrictions, local economic conditions, and competition.
Evaluate characteristics of global strategic decisions in organizations.
Global strategic decisions are one of the most important choices an organization can make as they shape their short and long-term success. These decisions must be made with full cognizance of financial, political, social, technological and cultural factors. Developing a global strategy requires sound analysis and research to ensure that the best possible courses of action are taken and practices are in place which will create lasting viability for the organization and its stakeholders worldwide.
Companies wishing to transition from local to global markets also have unique considerations, such as understanding the distinct ways different cultures view business practices, job roles, and diversity in order to effectively adapt. Businesses must also understand global market conditions in order to effectively deploy resources and competitively reach customers worldwide. Global strategic decisions require full oversight at the highest level of management and demand a company embrace a long-term commitment.
Assignment Task 2: Understand and apply tools and techniques to address the challenges of global supply chains.
As businesses become increasingly global, the challenges inherent in managing and maintaining efficient supply chains increase in complexity. Such challenges often involve sourcing components from multiple vendors, keeping track of ever-evolving regulatory environments, navigating across different forms of infrastructure, and adjusting to unpredictable market conditions. To successfully achieve success in these areas, organizations must understand and apply a variety of tools and techniques that are specifically designed to address these types of challenges.
Assess methods to analyze the global supply chain.
In order to assess methods to analyze the global supply chain, it is important to consider all aspects of a supply network and its associated processes. Formal frameworks or models should be set up that define, measure and analyze the performance of a supply chain over time, such as monetary investments versus returns, in order to identify areas for improvement. As a holistic approach requires considering people, products, services and capabilities across the value stream of a business, the right data analysis tools become necessary in order to keep track of these components and achieve optimal results.
The various analytics approaches are continuously evolving and therefore need to be continually re-evaluated in order to adjust them as needed. By establishing an effective method to analyze your global supply chain with meaningful insights into operations performance, you can ensure that both customers’ needs and business goals will be met efficiently.
Evaluate the regulatory influences on the global supply chain.
Government regulations across the globe have a strong influence on global supply chain management. National, regional and international regulatory authorities increasingly regulate goods and services moving within a given region, industry or the entire world. These regulations are primarily aimed at increasing safety of goods, protecting consumer rights and preventing fraud and unethical business activities. Businesses need to be aware of these regulatory changes in order to stay ahead in the global market and remain compliant with prevailing standards.
Various challenges can arise depending on the nature of regulation which requires constant analysis, tracking, risk assessment and adaptation so as to ensure uninterrupted movement throughout the global supply chain. The complexity of this process continues to increase due to stringent measures adopted by authorities worldwide in order to protect citizens from transnational crimes like human trafficking, terrorism etc. All in all, it is essential for businesses to evaluate current government policies concerning global supply chains along with potential impacts so that businesses can make necessary adjustments accordingly.
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Assignment Task 3: Understand strategy formulation and implementation.
Strategy formulation and implementation are critical components of a successful business. Constructing an appropriate strategy is the foundation upon which long-term success can be judged, while the way in which it is implemented can determine whether this success is achieved. To develop a sound strategy, the objectives of a business have to first be identified and understood before choosing the right course of action going forward. It is then essential that the implementation of the chosen approach captures all relevant stakeholders and resources to ensure maximum chances of success.
Evaluate how corporate and business strategic decisions impact on supply chains.
Corporate and business strategic decisions have a large impact on the effectiveness of their supply chains. Strategic decisions in terms of where to locate warehouses, distribution centers and production plants can cause an increase or decrease in operational cost, transportation costs, and labor efficiency which in turn directly impacts the entire supply chain process. Additionally, flexible strategies that consider sustainability requirements, forward and reverse logistics, collaboration between stakeholders and technology advances can lead to successful supply chain operations. Companies must factor in all these issues while strategizing to maximize the performance of their supply chain and the overall business objectives.
Evaluate how organizational strategy can be implemented in supply chains.
Implementing organizational strategy into supply chains is a complex yet essential endeavor for businesses looking to optimize their operations. Strong organizational strategies can streamline processes and reduce costs, ultimately allowing the enterprise to increase revenue. To properly implement an organizational strategy into a supply chain, companies must evaluate every stage of its journey — from supplier sourcing to final delivery — to ensure that each step is efficient and working towards maximizing customer satisfaction.
This entails examining transportation routes, methodologies, cost analysis, performance metrics and more so that any gaps or inefficiencies can be identified and addressed within the supply chain. Doing so can ensure that an organization’s goals are met while also providing customers with higher-quality products or services in a timely manner.
Analyze the relationship between strategy and corporate, business and functional structures in organizations.
Analyzing the relationship between strategy and the corporate, business and functional structures in organizations is a critical component of successful strategic implementation. A well-structured organizational design can ensure that resources are allocated efficiently to align with the company’s strategy, enabling businesses to maximize their performance. Different strategies call for different structures; for example, a multicultural business may need to take a different approach to decision-making when compared to an organization with a more centralized structure. Thus having an effective organizational structure can be the difference between success and failure when executing strategy.
Analyze the management of resources to support the development and implementation of the strategy.
The effective management of resources is essential to the successful development and implementation of any strategy. Managers must pay careful attention to all aspects of resource management, such as budgeting, personnel selection, and use of technology, to ensure a smooth transition from planning to actual execution. By preparing for every possible scenario through proper resource management and taking into account potential pitfalls along the way, organizations can ensure that their strategy has the best chance at success in a competitive market.
Assignment Task 4: Understand financial aspects that affect procurement and supply.
Procurement and supply are integral components of an organization’s financial management system, and a deep understanding of the financial aspects involved is essential to ensure maximum efficiency in cost reductions, effective resource allocation and optimal inventory levels. Understanding the financial elements of procurement and supply such as vendor payment terms, interest costs, capital requirements and cash flow forecasting helps organizations streamline operations while ensuring clear visibility over the procurement process. Additionally, taking into consideration various company policies like customer credit rules or discount incentives can further bolster a company’s financial well-being.
Assess how costs and finance can impact on supply chains.
The success of a supply chain largely depends on effective cost and financial management, with insufficient attention given to either having potentially disastrous results. Costs introduce complexity into the supply chain, making it increasingly important that they are managed carefully. Many costs associated with the supply chain are fundamental operational expenses as well as fixed and variable costs that have an effect on businesses, but predictive analytical tools have made this task more manageable by streamlining the process and providing greater visibility into cost management decision-making.
Finance is also closely connected to the performance of a supply chain, particularly in relation to cash flow and payment settlements across participants. Short-term financing options can be used to effectively reduce the risks associated with these payments to ensure better financial liquidity. It is clear that optimizing costs and finance in supply chains must be a key concern for organizations looking to drive efficiencies throughout their operations.
Evaluate methods for managing the volatility of currencies in supply chains.
In this ever-globalizing world, managing the volatility of currencies in supply chains is of increasing importance. Companies need to find ways to manage their international operations while protecting against exchange rate movements which can have a profound effect on the bottom line. Fortunately, there are a number of viable methods at hand for companies wanting to reduce foreign currency risk.
Some options include hedging with derivatives, engaging in cross-border trading and specialized contracts as well as proactive management of funds through early payments and delaying receipts if possible. Although these approaches come with specific advantages and disadvantages, businesses need to be mindful of tailoring their strategies according to their cash flow cycles, market volatility and flexibility needed in order to benefit from managing currency volatility over time.
Analyse methods for managing the volatility of commodities in supply chains.
Managing the volatility of commodities in supply chains is an important factor to consider when organizing a successful business. By proactively managing risks, businesses can minimize the negative impacts of market changes and ensure the continuity of their operations. An effective way to manage this volatility is to employ different mitigation strategies such as effective supplier segmentation or increasing inventory levels. Additionally, focusing on visibility and tracking throughout the supply chain can also be beneficial as it enables better forecasting, which in turn will help firms assess and plan for potential risks more precisely. Ultimately, proper management of commodity volatility is essential for ensuring competitiveness in all sectors.
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