CIPS L4 Diploma

L4M2 Defining Business Needs

On-demand tuition provides access to a full suite of our excellent teaching materials, and importantly a pre-recorded tutor explanation of all theory split into convenient small sections. You can access these resources whenever you desire, from everywhere, with tutor support being provided as required.

On completion of this module, learners will be able to devise a business case for requirements to be externally sourced and will understand the role of market management and competitive forces as they specify goods and services in procurement and supply.

Course curriculum

  • 1

    Course Preview and Explanation

  • 2

    Chapter 1 – Understand how to devise a business case for requirements to be sources from external suppliers

    • Session Notes - Chapter 1

    • LO|1.1 Analyse how business needs influence procurement decisions

    • LO|1.2 Identify how costs and prices can be estimated for procurement activities

    • LO|1.3 Analyse the criteria that can be applied in the creation of a business case

    • LO|1.4 Interpret financial budgets for the control of purchases

    • Practice Questions
  • 3

    Chapter 2 – Understand market management in procurement and supply

    • Session Notes - Chapter 2

    • LO|2.1 Analyse the different types of markets utilised by procurement

    • LO|2.2 Compare competitive forces that influence markets

    • LO|2.3 Contrast the breakdown between direct and indirect costs and the types of data that can provide information on cost and price

    • Practice Questions
  • 4

    Chapter 3 – Understand the use of specifications in procurement and supply

    • Session Notes - Chapter 3

    • LO|3.1 Analyse different types of specification used in Procurement and Supply and source of information that can be used to create specifications

    • LO|3.2 Identify sections of specifications for through life contracts

    • LO|3.3 Identify the risks that can result from inadequate specifications and mitigation approaches

    • LO|3.4 Identify opportunities to regulate short- and long-term specifications

    • Practice Questions
  • 5

    CIPS Practice Questions

    • CIPS Practice Questions