Global Standard for Procurement and Supply

Current segment

Level: Tactical

Theme: Metrics & Measurement

Segment 8.1 Delivering Value for Money

Segment 8.1 Delivering Value for Money

Knowledge: Will know and understand Capabilities: Will be able to

Value for money criteria such as pricing/ costs, delivered quality, timescales, quantities and location requirements

Apply the balance of value for money criteria appropriate to the procurement of goods or services in your area of responsibility

Measuring achieved savings of goods and services to recognise efficiencies

Analyse data to report savings achieved for purchased goods or services

Comparing forecasts with actual expenditures to control expenditures

Analyse data showing forecasts for actual expenditures and examine variances between forecasted and actual expenditures taking account of market trends

Assessing the quality of supplies of goods and services to ensure that quality standards are achieved

Analyse reports and data on the quality of goods and services supplied and take actions with suppliers or internal stakeholders to remedy and prevent defects

Measuring internal and external lead times of supplies

Monitor internal and external lead times and take actions to remedy delays and improve lead time performance

Measuring the performance of supplies of goods and services

Anticipate and identify contractual delays or variations and take actions to remedy performance issues and improve lead time performance, escalating when necessary to the contract manager

Achieving functional targets in procurement and supply

Collate data required for the fulfilment of targets for the procurement and supply function as necessary to improve performance

Measuring service levels for supplies of goods and services

Compare service performance against planned service levels and take actions to improve performance

Knowledge: Will know and understand

Value for money criteria such as pricing/ costs, delivered quality, timescales, quantities and location requirements

Capabilities: Will be able to

Apply the balance of value for money criteria appropriate to the procurement of goods or services in your area of responsibility

Knowledge: Will know and understand

Measuring achieved savings of goods and services to recognise efficiencies

Capabilities: Will be able to

Analyse data to report savings achieved for purchased goods or services

Knowledge: Will know and understand

Comparing forecasts with actual expenditures to control expenditures

Capabilities: Will be able to

Analyse data showing forecasts for actual expenditures and examine variances between forecasted and actual expenditures taking account of market trends

Knowledge: Will know and understand

Assessing the quality of supplies of goods and services to ensure that quality standards are achieved

Capabilities: Will be able to

Analyse reports and data on the quality of goods and services supplied and take actions with suppliers or internal stakeholders to remedy and prevent defects

Knowledge: Will know and understand

Measuring internal and external lead times of supplies

Capabilities: Will be able to

Monitor internal and external lead times and take actions to remedy delays and improve lead time performance

Knowledge: Will know and understand

Measuring the performance of supplies of goods and services

Capabilities: Will be able to

Anticipate and identify contractual delays or variations and take actions to remedy performance issues and improve lead time performance, escalating when necessary to the contract manager

Knowledge: Will know and understand

Achieving functional targets in procurement and supply

Capabilities: Will be able to

Collate data required for the fulfilment of targets for the procurement and supply function as necessary to improve performance

Knowledge: Will know and understand

Measuring service levels for supplies of goods and services

Capabilities: Will be able to

Compare service performance against planned service levels and take actions to improve performance

This segment was last updated on: 4th April 2017

The Global Standard for Procurement and Supply structure

Released in 2014 the Standard is a competency framework of procurement and supply skills, knowledge and capabilities that can be used by individuals and organisations to identity training and professional development needs at varying levels of competency.

The Global Standard for Procurement and Supply structure
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