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Exam 1: Foundation of Supply Management

1-A. Contracting and Negotiation

1-A-5 Continued

  • F)

    Management by exception

  • G)

    Progress reports

  • H)

    Customer feedback

1.0 Internal 2.0 External

  • 3)

    Conflict/dispute resolution

  • 4)

    Termination options 1-B. Cost-Finance 1-B-1

Prepare and/or administer a supply management department budget.

Knowledge of:

  • 1)

    Budgeting’s relationship to the strategic and operational plans

  • 2)

    Steps in budgeting

    • A)

      Review goal and objective alignment

    • B)

      Define needed resources (e.g., personnel, equipment, furnishings, training)

    • C)

      Estimate the dollar value of resources

    • D)

      Present the budget/obtain the appropriation

    • E)

      Variance analysis

  • 3)

    Purposes for a budget

    • A)

      Control of expenditures

    • B)

      Pre-approved funding

    • C)

      Monitoring of expenditures

    • D)

      Development of standard costs

  • 4)

    Types of budgets

    • A)

      Zero-based budget

    • B)

      Cash-flow budgets

    • C)

      Line item

  • D)

    Program/Project

  • E)

    Capital

  • F)

    Flexible

1-B-2

Develop a cost management program strategies for purchases.

Knowledge of:

  • 1)

    Cost savings

    • A)

      Cost avoidance/containment

    • B)

      Cost reduction

  • 2)

    Issues to be considered when establishing a cost management program

    • A)

      Status of the standardization program

    • B)

      Coordination with other departments

    • C)

      Time requirements

    • D)

      Effect on quality and service

    • E)

      Effect on operations

    • F)

      Calculating cost avoidance/reduction

    • G)

      Market testing

    • H)

      Top management support

    • I)

      Design flexibility

    • J)

      Product longevity

    • K)

      Consumption management

  • 3)

    Value analysis/value engineering processes

    • A)

      Process

    • B)

      Techniques

    • C)

      Organizational requirements

    • D)

      Function in relation to cost and quality

  • 4)

    Cost modeling

  • 5)

    Standard cost setting

  • 6)

    Product cost roll-up

  • 7)

    Margins

  • 8)

    Contribution to profit

ISM CPSM Exam Specifications

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