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ISM CPSM1 : Foundation of Supply Management exam Dumps

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Exam Number : CPSM1
Exam Name : Foundation of Supply Management
Vendor Name : ISM
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CPSM1 exam Format | CPSM1 Course Contents | CPSM1 Course Outline | CPSM1 exam Syllabus | CPSM1 exam Objectives

This course focuses on management and improvement of supply chain processes and performance. It will be valuable for students who would like to pursue a career in consulting or take a position in operations, marketing or finance functions in a manufacturing or distribution firm. They explore important supply chain metrics, primary tradeoffs in making supply chain decisions, and basic tools for effective and efficient supply chain management, production planning and inventory control, order fulfillment and supply chain coordination. They will also investigate Topics such as global supply chain design, logistics, and outsourcing, several other recent supply chain innovations.

The class format includes lectures, case discussions, guest speakers, and simulation games. The content covers both quantitative and qualitative materials. The cases will feature high-tech companies as well as firms in more traditional industries such as apparel and manufacturing.

Institute for Supply Management® (ISM®) is the first and leading not-for-profit professional supply management
organization worldwide. Its 47,000 members in more than 90 countries around the world manage about US$1
trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM
is committed to advancing the practice of supply management to drive value and competitive advantage for its
members, contributing to a prosperous and sustainable world. ISM empowers and leads the profession through the
ISM® Report On Business®, its highly-regarded certification and training programs, corporate services, events and
the ISM® Mastery Model®. The ISM® Report On Business®, Manufacturing and Non-Manufacturing, are two of the
most reliable economic indicators available, providing guidance to supply management professionals, economists,
analysts, and government and business leaders.

CPSM Certification Overview

The CPSM is globally recognized as the gold standard of excellence for supply management professionals, in
both the manufacturing and non-manufacturing sectors. The designation is transportable across industries, job
roles and regions, providing designation holders with flexibility and mobility.
The CPSM is for forward-thinking supply management professionals who desire to demonstrate a broad
understanding of the components of the profession. The program emphasizes the major competencies of supply
management. Those earning the CPSM will attain a greater understanding of end-to-end supply management
and be better positioned to positively impact their organization.

CPSM Eligibility Requirements

Earning a CPSM designation requires you to take and pass three exams, which can be taken in any order:

• Supply Management Core

• Supply Management Integration

• Leadership and Transformation in Supply Management

Candidates must have three years of full-time, professional supply management experience (nonclerical and
nonsupport) with a bachelors degree from a regionally accredited institution or international equivalent or five
years of full-time, professional supply management experience (nonclerical and nonsupport) without a qualified
bachelors degree.

All applicable experience must be in a professional position where the primary function is supply management.
Professional experience is usually defined as positions with decision-making authority and where independent
judgement is exercised. ISM does not require a candidate to work in all areas of supply management or be in a
management position. Proof of work experience is not required from those with a current C.P.M. certification.
ISM will evaluate work experience for candidates unsure if their current or previous positions are considered
applicable. The evaluation is optional, and there is a nominal charge.
The work-experience evaluation process allows a candidate to submit work experience documentation prior
to taking exams. ISM will return an evaluation to the candidate indicating if the experience is acceptable.
Candidates with acceptable experience should submit the evaluation with their original certification application
after they have passed the exams.

- Assess stakeholder needs and organize into sourcing plans 5

- Analyze and advise on feasibility of internal customer requests 3

- Analyze potential sources of products or services 7

- Determine methods to process requirements for goods or services based on cost, 5 timing, existing contracts and competitive bidding, as appropriate

- Conduct analyses to develop insourcing or outsourcing strategy 5

- Identify and implement technologies to support supply management 4

- Leverage spend through the identification, development and execution of 5 sourcing strategies

- Implement strategic sourcing plans aligned with organizational and stakeholder objectives 5

- Prepare solicitations for competitive bids, quotations and proposals with 6 pertinent specifications, terms and conditions

- Evaluate competitive offerings to identify the overall best offer for a product or service 5


- Create a category management plan to meet the organizations key objectives 5

- Execute a category management plan 5


- Prepare negotiation plan that aligns with organizational objectives 5

- Prepare and develop strategies and tactics for negotiations 4

- Lead, conduct and support negotiations with suppliers 5


- Manage the preparation of contracts/purchase orders 5

- Award contracts to suppliers 3

- Administer contracts and/or purchase orders from award to completion or termination 5

- Perform or obtain legal review of contracts and other supply management documents 4

- Generate and follow supply management processes to ensure legal compliance 4



- Develop provider qualification plans to assure components, materials 4 and suppliers meet specified requirements

- Develop and manage effective relationships with suppliers 7

- Conduct provider performance evaluations 5

- Conduct regular business reviews with suppliers 4

- Identify opportunities and benefits for rationalizing the supply base 4

- Identify opportunities to drive provider innovation 3

- Develop and implement provider exit strategies 3

- Review provider performance against negotiated service level agreements (SLAs) 4

- Resolve invoice and payment problems 2

- Act as a liaison between suppliers and functional areas to ensure accurate 4 information, documentation and product flow

- Work with suppliers to identify constraints and implement value-added processes 3


- Develop cost management program strategies for purchases 5

- Perform cost/benefit analyses 4

- Conduct spend analysis to determine strategies for specific categories 5

- Track and validate cost savings and cost avoidance 4


- Prepare and/or administer a supply management department budget 3

- Develop financing strategies for purchases 3

- Verify that sufficient reporting exists 3

TOTAL 180 (including 15 unscored*)

* Included are 15 statistical data research questions which are unscored (not included in your final exam score)

Supply Management Integration Exam



- Develop and/or implement a material or service standardization program 5

- Implement requirements planning to align supply management activities 7 with organizational strategy

- Implement operations planning, scheduling and inventory control processes 6 to ensure optimum use of resources

- Structure the supply chain in support of the organizations business strategy 7


- Incorporate the use of sales, inventory and capacity forecasts in the planning 6 of materials production to better meet strategic objectives and goals

- Conduct demand planning 4


- Analyze and report on market conditions, benchmarks and industry 5 trends to internal stakeholders

- Develop supply forecasts in light of economic and technological trends 5

- Plan and communicate sourcing and supply strategies based on forecasted data 6

- Manage forecasted data with suppliers 5

- Calculate and report forecast accuracy 4


- Participate in new product or service development in support of marketing efforts 5

- Participate in product-service ramp-up and/or ramp-down strategies and implementation 5

- Create systems and process improvements to help the organization meet sales goals 5


- Develop and/or administer a provider quality certification program 4

- Develop measurements for quality improvement 4

- Implement continuous improvement processes within the supply chain 6



- Design transportation and distribution policies and procedures to 4 ensure optimum flow of materials

- Manage transportation, invoicing and documentation functions to 4 ensure regulatory compliance

- Manage the resolution of delivery/receiving problems 4

- Analyze provider transportation costs 5

- Develop and/or implement a warehouse management system 5

- Conduct network design and optimization to support the business model, 5 increase productivity and lower operating costs

- Oversee the day-to-day operations of a warehousing function 4

- Develop and/or implement an inventory management system 5

- Coordinate and/or monitor the movement of equipment and assets within the organization 3

- Expedite/de-expedite orders 3

- Develop and/or execute plans and metrics to reduce risk of shortages 4

- Identify cost-effective packaging that meets requirements 3

- Conduct investment recovery activities for surplus/obsolete materials 4


- Perform project management activities 8

TOTAL 165 (including 15 unscored*)

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ISM Management exam Braindumps


Certified Financial Planner (CFP): What It Is, How To Become One

What Is a Certified Financial Planner (CFP)?

Certified Financial Planner (CFP) is a formal recognition of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement saving.

Owned and awarded by the Certified Financial Planner Board of Standards, Inc., the designation is awarded to individuals who successfully complete the CFP Board's initial exams, then continue ongoing annual education programs to sustain their skills and certification.

Key Takeaways
  • A certified financial planner (CFP) has received a formal designation from the Certified Financial Planner Board of Standards, Inc.
  • CFPs help individuals in a variety of areas in managing their finances, such as retirement, investing, education, insurance, and taxes.
  • Becoming a CFP is a difficult and stringent process. It requires years of experience, successful completion of standardized exams, a demonstration of ethics, and a formal education.
  • The most important aspect quality of a CFP is that they have a fiduciary duty, meaning they must make decisions with their client's best interests in mind.
  • Understanding a Certified Financial Planner (CFP)

    CFPs are there to help individuals manage their finances. This can include a variety of needs, such as investment planning, retirement planning, insurance, and education planning. The most important aspect of a CFP is to be a fiduciary of your assets, meaning that they will make decisions with your best interests in mind.

    CFPs are all-encompassing, particularly when compared to investment advisors. CFPs will usually start the process by evaluating your current finances, including any cash, assets, investments, or properties, to come up with an estimate of your income and net worth. They also take a look at your liabilities, such as mortgages and student debt.

    From this point on they work with you to come up with an individualized financial plan. For example, say you are nearing retirement, the CFP will create a financial plan that can see you through your retirement years. Or perhaps you have a child that will be starting college. The CFP can help create a financial plan to manage that cost.

    A CFP is a financial adviser who has earned a certification that indicates in-depth knowledge of financial planning. The requirements to become a CFP are some of the most difficult and stringent in the financial industry.

    CFP and Fiduciary Duty

    All CFPs are held to the standard of fiduciary duty. That means they must always put your interests as a client ahead of their own. For example, if they would more money selling one product over another, but the product that made them less money was better for you, that is the product they must recommend.

    A CFP's fiduciary duty is clearly laid out by the CFP Board and states "At all times when providing financial advice to a client, a CFP professional must act as a fiduciary, and therefore, act in the best interest of the client."

    The board goes on to state that three duties must be met by an adviser with a fiduciary duty. These are (1) duty of loyalty, (2) duty of care, and (3) duty to follow client instructions.

    How to Become a Certified Financial Planner (CFP)

    Earning the CFP designation involves meeting requirements in four areas: formal education, performance on the CFP exam, relevant work experience, and demonstrated professional ethics.

    The education requirements comprise two major components. The candidate must hold a bachelor's or higher degree from an accredited university or college. Second, the candidate must complete a list of specific courses in financial planning, as specified by the CFP Board.

    Much of this second requirement is typically waived if the candidate holds certain accepted financial designations, such as a chartered financial analyst (CFA) or certified public accountant (CPA) designation, or has a higher degree in business, such as a master of business administration (MBA).

    As for professional experience, candidates must prove they have at least three years (or 6,000 hours) of full-time professional experience in the industry, or two years (4,000 hours) in an apprenticeship role.

    Lastly, candidates and CFP holders must adhere to the CFP Board's standards of professional conduct. They must also regularly disclose information about any involvement in criminal activity, questions by government agencies, bankruptcies, customer complaints, or terminations by employers. The CFP Board conducts an extensive background check on all candidates before granting the certification.

    Even successful completion of the above steps doesn't guarantee receipt of the CFP designation. The CFP Board has final discretion on whether to award the designation to an individual.

    The Certified Financial Planner (CFP) Exam

    The CFP exam includes 170 multiple-choice on more than 100 Topics related to financial planning. The scope includes professional conduct and regulations, financial planning principles, education planning, risk management, insurance, investments, tax planning, retirement planning, and estate planning.

    The various Topic areas are weighted, and the most recent weighting is available on the CFP Board website. Further questions test the candidate's expertise in establishing client-planner relationships and gathering relevant information, and their ability to analyze, develop, communicate, implement, and monitor the recommendations they make to their clients.

    Here's some additional information on the administration, costs, and scoring of the CFP exam:

  • Timing: Candidates sit for two three-hour sessions on a single day; a 40-minute break period separates the sessions. Exams are typically offered in three eight-day windows: March, July, and November.
  • Cost: $925 for an exam administered at a U.S. test site, with a discount for early applications and a surcharge for late ones.
  • Passing Score: This is criterion-referenced, which means performance is measured according to a set level of required competency, rather than against the scores of other individuals who have written the same exam. This prevents any advantages or disadvantages that can occur when past exams were of lower or higher difficulty.
  • Retaking the test: If you fail, you may retake the test up to four additional times.
  • CFP vs. CFA

    Though a certified financial planner (CPA) and a chartered financial analyst (CFA) may sound similar, they are different certifications with different job functions and clients. A CFP works with individuals, often retail clients, helping them achieve their financial goals. This includes help in investing and retirement planning.

    A CFA works with corporations performing investment analysis. CFAs focus on financial reporting, analysis, and portfolio management. They can trade financial products, such as derivatives, and help in mergers and acquisitions. CFA's usually work for investment banks and hedge funds.

    Frequently Asked Questions When Do You Need a CFP?

    If you are just looking to invest money in stocks and bonds, a CFP probably isn't needed.

    If you are looking to manage your finances, investment choices, estate planning, and retirement planning, a CFP can help you with all of those needs.

    A CFP is a step above a non-designated financial advisor and has demonstrated expertise in financial planning.

    How Much Does a CFP Cost?

    How much a CFP costs will depend on your specific needs.

    On average, a CFP charges between $1,800 and $2,500 for preparing a full financial plan. You also should expect $4,000 for a flat-fee retainer or $250 per hour for hourly services.

    Is CFP the Same as CFA?

    No, CFP and CFA are not the same.

    A CFP is a certified financial planner who provides financial planning advice to individuals. This includes help with investing, retirement planning, estate planning, and tax law.

    A CFA is a chartered financial analyst who may work for an investment bank or hedge fund and performs financial analysis, modeling, trading, and portfolio management services.

    Is CFP Equivalent to MBA?

    No, a CFP is not equivalent to an MBA.

    A certified financial planner (CFP) is qualified to advise individuals on financial planning.

    The holder of a master of business degree has studied the way businesses operate.

    The career paths differ. A CFP works in financial consulting or wealth management. An MBA may be a business manager, portfolio manager, financial analyst, financial strategist, or even an entrepreneur.

    Is the CFP exam Hard?

    The CFP exam requires a lot of preparation and covers a wide range of Topics in depth. The best way to ensure you pass the CFP exam is by preparing for it well in advance and sticking to a study schedule.

    The Bottom Line

    Becoming a CFP takes education and experience, as well as a strong grasp of financial ethics. The test to gain this distinction is comprised of 170 questions and is split into two three-hour sessions.

    Even if candidates pass the test and meet all the requirements, the CFP Board still has the final say about whether to award this distinction. Given the stringent requirements, CFPs can be assumed to have an in-depth understanding of financial planning.

    Institute for Supply Management® Opens Call-for-Presentations for ISM World 2024 Annual Conference

    TEMPE, Ariz., Aug. 1, 2023 /PRNewswire/ -- Institute for Supply Management® (ISM®) has opened a Call-For-Presentations (CFP) for its annual international conference, ISM World 2024, an immersive experience April 29 – May 1, 2024. The influential three-day, procurement and supply chain management conference will provide attendees educational and networking opportunities to further their professional development and organizational success. It will bring together global industry practitioners and thought leaders to network, collaborate, and discuss future trends in the profession.

    Institute for Supply Management opens Call-for-Presentations for ISM World 2024 Annual Conference

    Supply management leaders and practitioners are invited to submit presentations that generate innovative ideas, share an inspiring story, real-life case study, or incorporate a new technology or methodology. The CFP will remain open for submissions until Tuesday, September 12 at 11:59 p.m. EST.

    "Practitioners can share and submit proposals that present new knowledge, innovative tools and tips to prepare attendees for the future," said ISM® Chief Executive Officer Tom Derry. "Various perspectives are encouraged as today's practitioners are on the frontlines of delivering strategic value for their organizations."

    Volunteer supply management practitioners and leaders on ISM® Committees and Councils will review completed submissions and evaluate based on the provided details as it aligns with the conference theme, the interest level of the audience, and presentation format.

    Approved and selected speakers receive complimentary ISM World 2024 Annual Conference registration and corresponding recertification credit.

    For more information and to submit a presentation proposal, please visit: ISM World Call-For-Presentations.

    About Institute for Supply Management®Institute for Supply Management® (ISM®) is the first and leading not-for-profit professional supply management organization worldwide. Its community of more than 50,000 in more than 100 countries manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM is committed to advancing the practice of supply management to drive value and competitive advantage for its members, contributing to a prosperous and sustainable world. ISM empowers and leads the profession through the ISM Report On Business®, its highly-regarded certification and training programs, corporate services, events and the ISM Supply Chain Capability Model™. The ISM Report On Business®, Manufacturing, Services, and Hospital, are three of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. For more information, please visit:

    Story continues

    Contact: Jessica Boyd, 480.752.6276, ext.

    Institute for Supply Management logo. (PRNewsFoto/Institute for Supply Management) (PRNewsfoto/Institute for Supply Management)


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