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Ever feel like procurement professionals are speaking an entirely different language? You're not alone. In this episode, we tackle the cryptic world of procurement acronyms – those seemingly innocent letter combinations that can make or break your understanding of contracts, negotiations, and supplier relationships.

From the foundational NDAs, to the nuanced differences between RFIs, RFQs, RFPs, and RFTs, we demystify the procurement sourcing process step by step. We explore the critical distinction in the world of IP (intellectual property) rights, explaining why ownership matters and how to protect your company's valuable assets.

The conversation delves into the practical workings of procurement systems – distinguishing between Purchase Requisitions and Purchase Orders, and highlighting the dangers of allowing suppliers to "work at risk" without proper documentation.

We break down the technical differences between Service Level Agreements and Key Performance Indicators, showing how each serves a unique purpose in managing supplier relationships and enforcing quality standards.

We also explore Enterprise Resource Planning systems – those expensive but potentially transformative technological investments that promise to streamline business operations. And for negotiations, we explain how tools like the "Best and Final Offer" (BAFO) can bring clarity and finality to pricing discussions.

Whether you're new to procurement or a seasoned professional looking to refresh your knowledge, this episode provides a practical guide to speaking the language of procurement with confidence. And unlike that supplier who sent a visually-impaired employee a printed brochure for specialized keyboards (yes, that really happened), we've made sure our explanations are accessible and applicable to real-world scenarios.

Have questions about procurement acronyms or topics you'd like us to cover? Reach out to us on Instagram at let's_talk_procurement, email us at 2lucs1sip@gmail.com, or use the text function in our episode description. We'd love to hear from you!

Support the show

Please get in touch as we love to hear from you listeners! You can use the "text" function above or drop us on email: 2lukes1cip@gmail.com or visit our website www.letstalkprocurement.co.uk

It would also mean the world if you can drop us a cheeky 5* rating on your platform of choice,

Cya Later

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What does your dream procurement job look like? That's the question at the heart of this revealing episode where we open up about our ideal roles in the procurement world.

The episode takes an unexpected personal turn with the announcement of big personal news from Luke1!

For one host, the perfect procurement position combines passion with profession. His vision represents the ultimate blend of personal interest and professional expertise, where procurement becomes more than just a job.

Our other Luke paints a different picture of procurement perfection: a role balanced with stakeholder engagement, diverse categories and opportunities for international travel to supplier sites.

Tune in to find out what our ideal roles would be an get an insight into our personalities!

We wrap up by contemplating what might constitute procurement career nightmares (if you are a pencil procurement specialists get in touch).

We invite you to share what your dream procurement role looks like. Whether you're aiming for specialized category expertise, strategic leadership, or the perfect work-life balance, we'd love to hear your procurement aspirations.

Connect with us on Instagram @lets_talk_procurement or email 2lukes1cip@gmail.com to join the conversation about your ideal procurement career path or get in touch with any old stuff!

Hope you enjoy the episode,

See ya later.

Support the show

Please get in touch as we love to hear from you listeners! You can use the "text" function above or drop us on email: 2lukes1cip@gmail.com or visit our website www.letstalkprocurement.co.uk

It would also mean the world if you can drop us a cheeky 5* rating on your platform of choice,

Cya Later

Send us a text

Want to learn about CIPS Objective Response (OR) exams? This episode delivers exactly what you need to succeed.

We're joined by Nic, a procurement professional from a multi-generational procurement dynasty, who shares how he's achieved an impressive 90% average across his multiple choice exams.

Rather than generic study tips, Nick reveals the specifics that appear in virtually every exam (Porter's Five Forces, Whole Life Asset Management, Mendelow's Matrix) and explains how understanding these core concepts enables you to tackle questions across different procurement contexts.

The conversation takes you behind the scenes of the exam experience itself - from managing pre-exam nerves to the strategic approachs required for success and helping you settle in.

Nic's candid discussion about exam formats (including the differences between Level 3 and Level 4) provides crucial insights for anyone preparing for their next certification. You'll learn which practice resources proved most valuable and why online exams at home offer advantages over testing centers.

Learn Nic's stand out tip for mindset: ensuring you've done enough preparation to know you'll pass before entering the exam room. This confidence-building strategy has served him well through 13 consecutive exams.

Whether you're considering starting your CIPS certification journey or looking to advance to higher levels, this episode offers both practical tactics and the psychological framework to approach your exams with confidence.

**Shout-out to Kareem for this week's episode idea**

Ready to transform your exam experience? Listen now, take notes, and watch your certification success rate soar. Have questions about your own procurement journey? Reach out to us at 2Lukes1CIP@gmail.com - we'd love to hear from you!

Support the show

Please get in touch as we love to hear from you listeners! You can use the "text" function above or drop us on email: 2lukes1cip@gmail.com or visit our website www.letstalkprocurement.co.uk

It would also mean the world if you can drop us a cheeky 5* rating on your platform of choice,

Cya Later