Procurement and Supply Operations

30 hours

Level 2

CIPS — Chartered Institute of Procurement & Supply

english

Course Overview

The mechanics of the contracts and pricing arrangements you'll work with daily. Covers spot purchases, framework agreements, fixed pricing, cost-plus, and the documents that turn a verbal agreement into a binding contract. Includes how to find reliable supplier and customer information using credit rating agencies and online sources.

What you will learn

Identify the documents that make up a procurement contract — specification, KPIs, terms, pricing schedule
Choose between fixed, cost-plus, target, and risk-and-reward pricing for a given scenario
Use credit rating agencies and web research to verify supplier financial health
Apply P2P system principles to track expenditure against budget

Course Details

Core module · 3 credits · Objective Response (OR) exam · 1-hour duration. Focused on the contractual and informational nuts and bolts of procurement at the operational level. You'll cover the types of organizations procurement teams work with, the components of a commercial contract, the pricing arrangements used in different scenarios (fixed, cost-plus, target, risk-and-reward), and where to find reliable information about suppliers and customers.

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Last updated May 17, 2026

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