CIPS Exam Masterclass: Procurement and Supply Models Explained

This video offers a comprehensive overview of three key procurement and supply models for improving supply chain management strategies: Kraljic Matrix, Supplier Preferencing Matrix and Mendelow's Matrix. Kraljic Matrix helps you prioritise your procurement activities by categorising supplies based on risk and value, allowing you to focus on critical, high-impact items. Supplier Preferencing Matrix reveals how your suppliers perceive your business, helping you understand where you stand in their portfolio and giving you the leverage to improve relationships or negotiate better terms. Mendelow's Matrix ensures you’re managing stakeholders effectively by mapping them based on their power and interest, so you can tailor your engagement strategies accordingly. Together, these models provide a comprehensive approach to managing your supplier relationships, prioritising procurement activities, and ensuring stakeholder alignment. Drawing from firsthand exam experience and professional expertise, our Knowledge Manager, Beata Kanonda MCIPS Chartered, provides valuable insights and proven techniques to empower you on your path to exam success and help you to understand how to apply these models into your business-as-usual activities. You can also watch the study tips and techniques videos on our playlist. Part 1 Study and exam Tips for CIPS exams -    • Studying and Exams Tips for CIPS Exams | C...   Part 2 Revision methods for CIPS exams -    • Revision methods for CIPS Exams | CIPS Exa...   Part 3 Testing your understanding of the syllabus -    • CIPS Exams Revision - Testing Your Underst...   --------------------------------------------------------------------------------------------------------------------------------------------------------------- Find more information about the Kraljic Matrix here: https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... How to develop sourcing strategies, and the different procurement strategies, such as global and local sourcing, are available here. https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... If anyone would like further information on the Pareto analysis mentioned, there is further information here https://www.cips.org/intelligence-hub... Often, non critical and routine items may be referred to as 'tail-spend'. CIPS has produced this handy guide on how to manage tail spend products and services: https://www.cips.org/intelligence-hub... CIPS has produced the following handy guides on supplier relationship management, that may further support you with improving your relationships with critical or strategic suppliers. https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub... We have additional resources available on stakeholder management, including the 7 key principles of managing stakeholders and tips on how to influence and manage stakeholder. After this webinar, check out the CIPS Intelligence hub for more useful resources to help you with your studies https://www.cips.org/intelligence-hub... https://www.cips.org/intelligence-hub...