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Identify four sourcing approaches, and for each one, identify and explain how you apply them to a category of spend within your organisation
Practitioner Corporate Award
Assessment Code: PSE
This assessment tests the learning outcomes and module content of:
Module: Sourcing Essentials Task Identify four sourcing approaches, and for each one, identify and explain how you apply them to a category of spend within your organisation.
Choose one of these categories and develop a supplier appraisal check list.
Guidance for candidates
Your work should consist of 3,000 words. Your assignment should include the assignment title, your candidate number and word count on the front cover, followed by contents page, executive summary, conclusions, recommendations, references and a bibliography. Any source materials such as web sites, company reports, indices, market data, articles, journals or texts should be listed in your references or bibliography in accordance with a recognised referencing system. Your assignment submission should be word processed with a minimum font size 12pt and 1.5 or double line spacing. Refer to the Assignment Guidance document for more information.
This assignment enables you to demonstrate the knowledge and understanding you have gained within the programme, together with your ability to research, analyse and problem solve a range of different procurement and supply related situations and challenges.
You are advised to read carefully the complete Assignment Guidance available from the My Learning section on the LMS (Learning Management System) before commencing your submission.
You are expected to approach your assignment from a procurement and supply context using the module content as the basis of your submission.
It is recommended that you base your assignment upon the business unit or organisation you work for, as it is likely you will be able to access appropriate information and data that you will require to underpin and support your final submission.
Your assignment must be your own work. In order to avoid plagiarism, whenever you use someone’s words directly, or make reference to the ideas or work of others, you must reference this appropriately using a recognised referencing system, as outlined in the Assignment Guidance document. Failure to reference the work of others, whether intentional or accidental, is considered plagiarism which constitutes a form of cheating and is not tolerated by CIPS.
Your assignment submission will be assessed according to the following assessment criteria (see the complete Assessment Guidance document (LMS – My Learning) for more information):
Application and insight (40%)
Research (20%)
Knowledge and approach (20%)
Structure and presentation (20%)
7. Plan your assignment to ensure that you have addressed all elements of the assignment task and the assessment criteria, as well as the module learning outcomes. Think carefully about the structure, style and content of your assignment.
8. Please include your CIPS candidate number on each page of your assignment submission and include the total word count of your submission. Your name should not appear on your assignment.
9. Your assignment can be up to 10% below the stated word count, or up to 10% higher than the stated word count. If your assignment exceeds the stated word count by more than 10%, marks may be deducted. The assignment guidance explains what is and what is not to be included in the word count. Your reference list and bibliography is excluded from the word count.
10. Please ensure you hand in your submission no later than the deadline date. There are penalties if your submission is handed in late without prior agreement from CIPS. If your submission is late, your result will be capped at 50%.
Our Expert`s Guidance
Writing an assignment on sourcing approaches for different spend categories in an organisation requires a structured approach to effectively communicate key concepts and applications to students. Here`s a guide on how to write such an assignment:
Introduction:
Start with an introduction to the importance of strategic sourcing in organisational procurement activities.
Define sourcing approaches and highlight their significance in optimising spend management and supplier relationships.
Provide an overview of the assignment`s objective, which is to explore various sourcing approaches and their applications across different spend categories.
Explanation of Sourcing Approaches:
Dedicate a section to explain each sourcing approach in detail, including competitive bidding, preferred supplier arrangements, supplier relationship management (SRM), and reverse auctions.
Define each approach, elucidate its principles, and discuss its advantages and limitations in procurement contexts.
Use examples or case studies to illustrate how each sourcing approach can contribute to cost savings, efficiency, and value creation in procurement processes.
Application to Spend Categories:
Identify specific spend categories within an organisation, such as raw materials procurement, IT services, logistics and transportation, and marketing/advertising.
For each spend category, explain how one or more sourcing approaches can be applied effectively to optimise procurement outcomes.
Provide rationale and practical examples demonstrating the suitability of each sourcing approach for the respective spend category, considering factors like cost reduction, quality assurance, and supplier relationship management.
Case Studies or Real-World Examples:
Incorporate relevant case studies or real-world examples to illustrate the application of sourcing approaches in different organisational contexts.
Analyse the outcomes of these case studies, highlighting the benefits achieved through strategic sourcing practices and lessons learned from implementation challenges.
Conclusion:
Summarise the key findings of the assignment, emphasising the importance of adopting appropriate sourcing approaches to meet organisational objectives.
Reflect on the significance of strategic sourcing in driving cost savings, enhancing supplier relationships, and improving overall procurement performance.
Suggest recommendations for future research or practical implications for organisations seeking to optimise their procurement strategies.
References:
Provide a list of references to acknowledge sources of information and support the validity of the concepts discussed in the assignment.
Ensure proper citation format adherence, such as APA or MLA, depending on the academic requirements.
By following this guide, students can effectively structure their assignment on sourcing approaches for different spend categories, facilitating a comprehensive understanding of strategic procurement practices in organisational contexts.
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