Level 6 – Purchasing Strategy

  • Unrivaled support from the first phone call.
  • Choose how you study, pass units and gain your accredited qualification.
  • Course materials designed by industry experts.

The IoSCM purchasing academy is dedicated to helping those within the purchasing industry develop and grow their knowledge and expertise. This level 6 qualification means whether you have previously studied a lower level qualification or have experience working as a senior manager, here at IoSCM we can still develop and teach you valuable topics which you can apply to your career/business.

*Through completion of the IoSCM Level 6 – Purchasing Strategy you will receive certification from IoSCM and also a regulated qualification, Level 6 in Supply Chain and Operations, via our partnership with SFEDI Awards as the Ofqual regulated Awarding Organisation.

Course Delivery

By enrolling with IoSCM, you’ll gain access to a customised learning platform in which you can take mock tests, utilise a huge library of resources and interact with other students across the globe. As well as unlimited first-class materials, there is self-assessments available online show the results immediately to give you direction on what you’re doing well and what you might need to take another look at.

You can take and retake the practise self-tests as many times as you like. By doing this, we’re increasing your confidence in your ability to succeed and therefore, also ensuring you pass the first time.

Because IoSCM qualifications can be studied entirely online, you can study in your own time and in the comfort of your own home. You can revisit materials and resources as often as required, simply log in to your personal learning platform.

We do, however, offer free monthly face to face or online workshops for you to attend if necessary. We understand that every individual is different, so we encourage you to learn at your own pace and in a way that suits you.

Course Requirements

  • For the Award complete 1 core unit
  • For the Certificate complete 1 core and any 2 other units
  • For the Diploma complete 1 core unit and any other 3 units
  • For the Advanced Diploma, complete 1 core unit and any other 6 optional units

Core Units

  • Strategic Management: Concepts of strategic management, Process of strategic management, Values, vision and mission statement, Influences of strategy formation, Porters five forces
  • Formulate organisational strategy: Business and corporate strategy, Business and corporate level strategy, Competitive advantage, Influence of markets, Suitability, feasibility and acceptability
  • Strategic effects of organisation plan: Organisational strategic plan, Statements, values and objectives
  • Communicate organisational plan: Stakeholder analysis and engagement, Communication
  • Objectives for a procurement strategy: Strategic procurement, Collaborative procurement, Supplier Relationship Management, Procurement principles, Public and private sector, Ethical implications, Best practice, Legal and statutory requirements
  • Effectiveness of a procurement strategy: Responsibility procurement, The value chain, Supply chain mapping, Contract documents, Long term strategic sourcing documents, Measuring success, Value analysis, value engineering & value management
  • Selecting effective procurement methods: Procurement methods, Tendering process, Evaluating supplier performance, Cost effectiveness, Achieving results, Risk, PESTLE analysis

Optional Units

  • The relationship between management and leadership: What is Leadership, What is Management, Leadership and Management Styles, The impact of different styles of Leadership and Management on staff
  • Effective leadership: The relationship between leadership style and leadership behaviour, The importance of context on leadership styles and qualities
  • Theories of management and leadership in organisational contexts: Leadership and Management Theories, The impact of leadership in an organisation based on Leadership theories
  • How to advise on the management and leadership skills required for selected roles in an organisation: Methods to identify the skills required for leadership of a given role in an organisation, Styles of leadership that are suitable to the role and appropriate to the culture in an organisation, Evaluations of recommended leadership skills required for a given role in an organisation
  • The enterprise culture and the characteristics of different entrepreneurs: The enterprise culture in a business, Advantages and Disadvantages of developing an enterprise culture in a business, The key attributes, decisions, business achievements, public personas and approaches to enterprise culture that have defined prominent entrepreneurs, and their effects upon the business, The concept of intrapreneurship and its effect upon the business, The factors which militate against an enterprise culture, The role of information and communications technology (ICT) in supporting entrepreneurship and business development
  • The role of the Corporate Finance Manager and its main links to business objectives including mergers and acquisitions: The role and business objectives of the finance manager; The regulatory environment in which the finance manager; City Code on Takeovers and Mergers; The main justifications for and dangers of, mergers and takeovers
  • The main sources of debt and equity funding and the significance of financial gearing: The process for gaining a listing on the Official List or the Alternative Investment Market; The role of different advisors in gaining a listing on the Official List or the Alternative Investment Market; The sources of equity finance available to an unquoted company; The differences between ordinary shares, preference shares, rights issues and scripts; The main sources of debt finance available to any size of business; The significance, advantages and dangers of different levels of financial gearing
  • How to evaluate investment decisions using a variety of appraisal techniques: The principles of accounting rate of return, payback, net present value (NPV), Profitability Indices, and the internal rate of return (IRR); The influence of risk in the investment appraisal process
  • The main methods for valuing company shares: The share value of a business based on net asset value (NAV), price earnings (PER), free cash flow and dividend; The qualities of a business that are likely to influence the share value; The main accounting ratios that can be applied to organisations
  • The factors that determine a company’s dividend policy: The effects of dividends on shareholder wealth and the main dividend policies that companies may adopt including constant dividends, increasing dividends, zero dividends and fixed percentage dividends; The main dividend policy theories including: irrelevance (Modigliani and Miller – MM) and relevance theories; The main alternatives to cash dividends
  • The concept of the cost of capital of a business: The cost of equity share capital; The cost of debt capital; The weighted average cost of capital and its usefulness
  • The different elements of treasury and working capital: The main areas of treasury and working capital; Calculate the working capital cycle and the cash conversion or operating cycle; Calculate, from a given set of figures, a working capital decision on any of the areas of working capital Overtrading and its symptoms
  • Change management in organisations: Models of change management; The relevance of models of change management to organisations in the current economy
  • The issues relating to change in organisations: The need for change in an organisation; The factors that are driving the need for change in selected organisations; The potential barriers to the process of change in an organisation
  • Proposals for change in an organisation: Areas for change in an organisation; How to develop an appropriate model for change in an organisation; How to prepare a plan for implementing change in an organisation, including resource requirements; The appropriate methods of communicating a proposal for change to relevant stakeholders in an organisation
  • How to manage the change process: The appropriate measures to monitor and evaluate the progress of change in an organisation
  • Philosophies and approaches: Types of research; Validity and relevance; Research paradigms; Research philosophy; Research approaches
  • Plan project reports: Business reports; Topic selection; Approaches and strategies; Literature reviews; Formulation; Project specifications
  • Research: Research ethics; Research process
  • Compare research outcomes with specifications: Types of evaluation
  • Present report: Style and structure; Structure of report; Presentation
  • Understand the development of a strategic business plan: Planning, Strategic management, Business planning, Innovation and creativity, Components of a business plan, Strategic objectives, Risk, Delegation
  • Develop a strategic business plan: Establish a clear vision and strategic objectives, Risk assessment, Market developments in own sector, Customer base needs and expectations, Market analysis, Colleague and stakeholder expectations, Consultation, Resource allocation, Monitor achievement of objectives
  • Quality management systems: Definition of quality, Quality management techniques
  • Advantages of quality management systems: Total quality management, Organisation wide processes, Achieving customer satisfaction
  • Tools and techniques: Quality control, Flowcharts and diagrams, Available resources, Standardisation, Troubleshooting, Failure modes, Effects analysis, Six Sigma
  • Improve organisational performance: Continuous improvement, Steps to quality improvement, Standardisation, Total quality management, Suggestion schemes, Communication and barriers to communication

Job title & Salaries

Retail Area Manager£29,000 – £45,000
Procurement Change Manager£45,000 – £88,000

*Salaries are based on national averages and may vary depending on location

Business Improvements

  • Develop an understanding of People Productivity in order to reduce the impact of staff changes and increase productivity and efficency
  • Develop your understanding of Total Quality Management and help reduce scrap costs, re-work etc. By doing this, you will not only reduce the amount of defects, staff morale will improve along with customer satisfaction

“I logged in to the IoSCM learning platform tonight and experienced the new look and feel of the site. I want to compliment the IoSCM team for an amazing effort to make this learning experience something to remember.

WOW…..It’s done in a professional and easy to use manner, with such stunning and clear guidelines and very informative. The non-verbal communication was conveyed perfectly! Excellent and a WELL DESERVED - “WELL DONE”!!!

It gives me a comfortable and welcoming platform to work from, where I will be able to apply/transcribe my knowledge and research in line with the expectation. This does not feel like “Distance Learning” anymore. It feels like we are officially part of IoSCM and we can touch and feel it now.

A thank you to the friendly staff will always remain in order; this will never replace those friendly voices but is getting very close.”

Madelene Fraser

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