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This unit explores a variety of elements that underpin the development of criteria. It also considers the options that should be explored when procurement and supply personnel are involved in defining requirements.


On completion of this module, learners will be able to describe the key elements and legal aspects of formal commercial contracts, and analyse and interpret the fundamentals of specifications and key performance indicators that are included in contractual arrangements made with suppliers.


On completion of this module, learners will be able to analyse the dynamics of supplier relationships, examine the processes and procedures for working with stakeholders and appreciate the concept of partnering.


On completion of this module, learners will be able to explain methods of inventory storage and control and analyse the concept of whole life cost from concept through to disposal.


On completion of this module, learners will be able to evaluate the concept of commercial global strategy and assess the challenges and main elements associated with the formulation and implementation of a commercial strategy and understand the impact of finance on strategic decision making.