The Chartered Institute of Procurement & Supply (CIPS) has reviewed and restructured its qualifications, to develop more agile and creative thinkers, focussed on strategy and relationship building. The qualifications were launched today.
Following a review of the CIPS Global Standard and competency framework, the updated qualifications aim to future-proof students and create the right skills and relevant knowledge so procurement professionals can manage the challenges their organisations face. CIPS engaged with over 5000 procurement professionals and academics across the globe to comment on the Global Standard review, the bedrock of CIPS qualifications, to ensure it reflects modern procurement practices.
The demands on today’s procurement professionals are much more complex, whether it’s modern slavery, Brexit strategies or cyber security, business leaders are looking to procurement professionals for the solutions. CIPS students will be equipped to face these challenges head on, with broad skills such as technical knowledge, wider commercial skills as well as a bigger focus on soft skills.
A recent Supply Management Careers survey of top Chief Procurement Officerss revealed how a wide range of skills is important in procurement and global business. One FTSE 100 CPO said, “Take every opportunity you can to do more than your day job. If you want to progress, you have to go above and beyond your area of responsibility and contribute more widely to corporate goals.” 78% of the CPOs surveyed had worked outside of procurement and 35% had worked in general management.
Amanda O’Brien, Group Director, CEO said, “Although CIPS can’t provide this experience, the update qualifications look to bridge the gap with core modules in the higher levels such as Global Commercial Strategy and Global Strategic Supply Chain Management. With 99% of CPOs in our study saying that they would recruit outside the profession, it is essential that we attract young talent into procurement at an entry level and we are confident that these qualifications will address this.”
Content around ethics and sustainability have also been updated, focussing on modern slavery, sustainability, fraud and corruption, and equipping procurement teams with the most up-to-date knowledge on key legislation as well as how to identify and mitigate risks associated with these issues.
Malcolm Harrison, Group CEO, CIPS said, “It is critical that procurement professionals have a handle on all of the ethical issues affecting their organisations. The updated qualifications not only make students aware of all the issues and legislation, but equip them with the skills to influence and design policy, and lead and monitor on compliance. Procurement professionals need to strategically position themselves as champions for change, promoting the highest standards of ethical practice for their organisations and supply chains.
“As well as the most relevant content the updated syllabus allows more flexibility for procurement and supply learners as the frequency of exams increased to give them more flexibility. The increased number of shorter, elective modules allows teams to tailor their learning to what’s relevant for them. The module, Future Strategic Challenges, encourages students to go and undertake their own research to explore what leading-edge procurement teams should be thinking about procurement and supply.”
Any students at diploma levels can expect to take their first CBE (Computer-Based Exams) in July 2019 under the new qualifications structure. Find out more on the CIPS website.
Trudy Salandiak, CIPS; email@example.com ; +44 (0) 1780 761576; 07554 400 731
The Chartered Institute of Procurement & Supply (CIPS)
The Chartered Institute of Procurement & Supply (CIPS) is the world’s largest procurement and supply professional organisation. It is the worldwide centre of excellence on procurement and supply management issues. CIPS has a global community of over 200,000 in 180 different countries, including senior business people, high-ranking officials and leading academics. The activities of procurement and supply chain professionals have a major impact on the profitability and efficiency of all types of organisation and CIPS offers corporate solution packages to improve business profitability.