ISM CPSM1 Exam Topics

ISM CPSM1 Exam

Foundation of Supply Management

Total Questions: 130

Last Updated : 20-04-2024

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ISM CPSM1 Exam Overview :

Exam Name	Foundation of Supply Management
Exam Code	CPSM1
Actual Exam Duration	120 minutes
Expected no. of Questions in Actual Exam	90
Official Information	http://www.ism-nva.org/exam-1-cpsm-foundation-of-supply-management.html
See Expected Questions	ISM CPSM1 Expected Questions in Actual Exam
Take Self-Assessment	Use ISM CPSM1 Practice Test to Assess your preparation - Save Time and Reduce Chances of Failure

ISM CPSM1 Exam Topics :

Section	Objectives
Supply Management Core	SOURCING 1-A-1 Assess stakeholder needs and organize into sourcing plans 1-A-2 Analyze and advise on feasibility of internal customer requests 1-A-3 Analyze potential sources of products or services 1-A-4 Determine methods to process requirements for goods or services based on cost, timing, existing contracts and competitive bidding, as appropriate 1-A-5 Conduct analyses to develop insourcing or outsourcing strategy 1-A-6 Identify and implement technologies to support supply management 1-A-7 Leverage spend through the identification, development and execution of sourcing strategies 1-A-8 Implement strategic sourcing plans aligned with organizational and stakeholder objectives 1-A-9 Prepare solicitations for competitive bids, quotations and proposals with pertinent specifications, terms and conditions 1-A-10 Evaluate competitive offerings to identify the overall best offer for a product or service CATEGORY MANAGEMENT 1-B-1 Create a category management plan to meet the organization’s key objectives 1-B-2 Execute a category management plan NEGOTIATION 1-C-1 Prepare negotiation plan that aligns with organizational objectives 1-C-2 Prepare and develop strategies and tactics for negotiations 1-C-3 Lead, conduct and support negotiations with suppliers LEGAL AND CONTRACTUAL 1-D-1 Manage the preparation of contracts/purchase orders 1-D-2 Award contracts to suppliers 1-D-3 Administer contracts and/or purchase orders from award to completion or termination 1-D-4 Perform or obtain legal review of contracts and other supply management documents 1-D-5 Generate and follow supply management processes to ensure legal compliance SUPPLIER RELATIONSHIP MANAGEMENT 1-E-1 Develop supplier qualification plans to assure components, materials and suppliers meet specified requirements 1-E-2 Develop and manage effective relationships with suppliers 1-E-3 Conduct supplier performance evaluations 1-E-4 Conduct regular business reviews with suppliers 1-E-5 Identify opportunities and benefits for rationalizing the supply base 1-E-6 Identify opportunities to drive supplier innovation 1-E-7 Develop and implement supplier exit strategies 1-E-8 Review supplier performance against negotiated service level agreements (SLAs) 1-E-9 Resolve invoice and payment problems 1-E-10 Act as a liaison between suppliers and functional areas to ensure accurate information, documentation and product flow 1-E-11 Work with suppliers to identify constraints and implement value-added processes COST AND PRICE MANAGEMENT 1-F-1 Develop cost management program strategies for purchases 1-F-2 Perform cost/benefit analyses 1-F-3 Conduct spend analysis to determine strategies for specific categories 1-F-4 Track and validate cost savings and cost avoidance FINANCIAL ANALYSIS 1-G-1 Prepare and/or administer a supply management department budget 1-G-2 Develop financing strategies for purchases 1-G-3 Verify that sufficient reporting exists
Supply Management Integration	SUPPLY CHAIN STRATEGY 2-A-1 Develop and/or implement a material or service standardization program 2-A-2 Implement requirements planning to align supply management activities with organizational strategy 2-A-3 Implement operations planning, scheduling and inventory control processes to ensure optimum use of resources 2-A-4 Structure the supply chain in support of the organization’s business strategy SALES AND OPERATIONS PLANNING – DEMAND PLANNING 2-B-1 Incorporate the use of sales, inventory and capacity forecasts in the planning of materials production to better meet strategic objectives and goals 2-B-2 Conduct demand planning SALES AND OPERATIONS PLANNING – FORECASTING 2-C-1 Analyze and report on market conditions, benchmarks and industry trends to internal stakeholders 2-C-2 Develop supply forecasts in light of economic and technological trends 2-C-3 Plan and communicate sourcing and supply strategies based on forecasted data 2-C-4 Manage forecasted data with suppliers 2-C-5 Calculate and report forecast accuracy SALES AND OPERATIONS – PRODUCT AND SERVICE 2-D-1 Participate in new product or service development in support of marketing efforts 2-D-2 Participate in product-service ramp-up and/or ramp-down strategies and implementation 2-D-3 Create systems and process improvements to help the organization meet sales goals QUALITY MANAGEMENT 2-E-1 Develop and/or administer a supplier quality certification program 2-E-2 Develop measurements for quality improvement 2-E-3 Implement continuous improvement processes within the supply chain

Section

Objectives

Supply Management Core

SOURCING
1-A-1 Assess stakeholder needs and organize into sourcing plans
1-A-2 Analyze and advise on feasibility of internal customer requests
1-A-3 Analyze potential sources of products or services
1-A-4 Determine methods to process requirements for goods or services based on cost, timing, existing contracts and competitive bidding, as appropriate
1-A-5 Conduct analyses to develop insourcing or outsourcing strategy
1-A-6 Identify and implement technologies to support supply management
1-A-7 Leverage spend through the identification, development and execution of sourcing strategies
1-A-8 Implement strategic sourcing plans aligned with organizational and stakeholder objectives
1-A-9 Prepare solicitations for competitive bids, quotations and proposals with pertinent specifications, terms and conditions
1-A-10 Evaluate competitive offerings to identify the overall best offer for a product or service

CATEGORY MANAGEMENT
1-B-1 Create a category management plan to meet the organization’s key objectives
1-B-2 Execute a category management plan

NEGOTIATION
1-C-1 Prepare negotiation plan that aligns with organizational objectives
1-C-2 Prepare and develop strategies and tactics for negotiations
1-C-3 Lead, conduct and support negotiations with suppliers

LEGAL AND CONTRACTUAL
1-D-1 Manage the preparation of contracts/purchase orders
1-D-2 Award contracts to suppliers
1-D-3 Administer contracts and/or purchase orders from award to completion or termination
1-D-4 Perform or obtain legal review of contracts and other supply management documents
1-D-5 Generate and follow supply management processes to ensure legal compliance

SUPPLIER RELATIONSHIP MANAGEMENT
1-E-1 Develop supplier qualification plans to assure components, materials and suppliers meet specified requirements
1-E-2 Develop and manage effective relationships with suppliers
1-E-3 Conduct supplier performance evaluations
1-E-4 Conduct regular business reviews with suppliers
1-E-5 Identify opportunities and benefits for rationalizing the supply base
1-E-6 Identify opportunities to drive supplier innovation
1-E-7 Develop and implement supplier exit strategies
1-E-8 Review supplier performance against negotiated service level agreements (SLAs)
1-E-9 Resolve invoice and payment problems
1-E-10 Act as a liaison between suppliers and functional areas to ensure accurate information, documentation and product flow
1-E-11 Work with suppliers to identify constraints and implement value-added processes

COST AND PRICE MANAGEMENT
1-F-1 Develop cost management program strategies for purchases
1-F-2 Perform cost/benefit analyses
1-F-3 Conduct spend analysis to determine strategies for specific categories
1-F-4 Track and validate cost savings and cost avoidance

FINANCIAL ANALYSIS
1-G-1 Prepare and/or administer a supply management department budget
1-G-2 Develop financing strategies for purchases
1-G-3 Verify that sufficient reporting exists

Supply Management Integration

SUPPLY CHAIN STRATEGY
2-A-1 Develop and/or implement a material or service standardization program
2-A-2 Implement requirements planning to align supply management activities with organizational strategy
2-A-3 Implement operations planning, scheduling and inventory control processes to ensure optimum use of resources
2-A-4 Structure the supply chain in support of the organization’s business strategy

SALES AND OPERATIONS PLANNING – DEMAND PLANNING
2-B-1 Incorporate the use of sales, inventory and capacity forecasts in the planning of materials production to better meet strategic objectives and goals
2-B-2 Conduct demand planning

SALES AND OPERATIONS PLANNING – FORECASTING
2-C-1 Analyze and report on market conditions, benchmarks and industry trends to internal stakeholders
2-C-2 Develop supply forecasts in light of economic and technological trends
2-C-3 Plan and communicate sourcing and supply strategies based on forecasted data
2-C-4 Manage forecasted data with suppliers
2-C-5 Calculate and report forecast accuracy

SALES AND OPERATIONS – PRODUCT AND SERVICE
2-D-1 Participate in new product or service development in support of marketing efforts
2-D-2 Participate in product-service ramp-up and/or ramp-down strategies and implementation
2-D-3 Create systems and process improvements to help the organization meet sales goals

QUALITY MANAGEMENT
2-E-1 Develop and/or administer a supplier quality certification program
2-E-2 Develop measurements for quality improvement
2-E-3 Implement continuous improvement processes within the supply chain

Updates in the ISM CPSM1 Exam Topics:

ISM CPSM1 exam questions and practice test are the best ways to get fully prepared. Study4exam's trusted preparation material consists of both practice questions and practice test. To pass the actual Certified Professional in Supply Management CPSM1 exam on the first attempt, you need to put in hard work on these questions as they cover all updated ISM CPSM1 exam topics included in the official syllabus. Besides studying actual questions, you should take the ISM CPSM1 practice test for self-assessment and actual exam simulation. Revise actual exam questions and remove your mistakes with the Foundation of Supply Management CPSM1 exam practice test. Online and Windows-based formats of the CPSM1 exam practice test are available for self-assessment.

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