L4M2 LO1 Revision Tips

This is a short video of revision tips that is designed to help students who are studying towards CIPS Level 4, Module 2 (L4M2) Defining Business Needs. This covers learning outcome 1 which helps students to understand how to devise a business case for requirements to be sourced from external suppliers. Including how business needs influence procurement decisions, how costs and prices can be estimated for procurement activities, the criteria that can be applied in the creation of a business case and how to interpret financial budgets for the control of purchases.