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Key facts and statistics
- CIPS has over 70,000 members in 150 countries, making it one of the largest global organisations of procurement and supply professionals.
- CIPS offers internationally recognised certifications, ensuring that professionals adhere to high standards of practice.
- Effective procurement can save organisations up to 12-18% on costs, highlighting the economic significance of skilled procurement professionals.
Key definitions
- Procurement - The process of acquiring goods, services, or works from external sources, ensuring they meet the organisation’s requirements.
- Supply chain management - Managing the flow of goods and services, including all processes that transform raw materials into final products.
Role of CIPS
Professional development
CIPS provides a structured path for procurement professionals to enhance their skills and knowledge through various certification programmes. These programmes cover topics ranging from basic procurement principles to advanced supply chain management strategies.
Ethical standards
CIPS is committed to promoting ethical procurement practices. The CIPS Code of Conduct ensures that members adhere to principles of integrity, transparency, and social responsibility, which are crucial for maintaining trust and integrity in procurement processes.
Advocacy and research
CIPS conducts extensive research and provides insights into current trends and future developments in procurement and supply chain management. This research helps organisations adapt to changes and implement best practices effectively.
Recommended best practices
Compliance with legislation and regulations
Compliance with procurement legislation and regulations is essential to avoid legal repercussions and ensure ethical practices. Key legislation includes:
- Public Contracts Regulations 2015 - Governs the procurement processes for public sector organisations in the UK, ensuring transparency and fairness.
- Modern Slavery Act 2015 - Requires organisations to report on steps taken to ensure their supply chains are free from slavery and human trafficking.
Organisations should implement policies and procedures that comply with these regulations. Compliance management software like ComplyPlus™ can streamline this process.
Implementing ethical procurement practices
Organisations should adopt ethical procurement practices, including:
- Supplier audits - Regularly auditing suppliers to ensure compliance with ethical standards.
- Sustainable procurement - Prioritising suppliers that adhere to sustainable practices, reducing environmental impact.
Professional development
Encouraging continuous professional development through CIPS certifications can enhance procurement teams' skills and knowledge. This not only improves efficiency but also ensures adherence to best practices.
Conclusion
The Chartered Institute of Procurement & Supply (CIPS) is instrumental in advancing the procurement and supply chain management profession. Through its commitment to professional development, ethical standards, and advocacy, CIPS helps organisations achieve excellence in procurement practices. By adhering to recommended best practices and leveraging tools like ComplyPlus™, organisations can ensure compliance with relevant legislation and regulations, ultimately enhancing their operational efficiency and ethical standards.
The Mandatory Training Group offers comprehensive training and compliance solutions for organisations looking to improve their procurement and supply chain management practices. Explore our ComplyPlus™ legislation and regulatory compliance management software to ensure your organisation meets all statutory and regulatory requirements. Click here to learn more and take the next step towards procurement excellence.
About the author
Dr Richard Dune
With over 20 years of experience, Richard blends a rich background in NHS, the private sector, academia, and research settings. His forte lies in clinical R&D, advancing healthcare tech, workforce development and governance. His leadership ensures regulatory compliance and innovation align seamlessly.
