L5M6 practice question 3 of 15
What can the IACCM help a Category Manager with?
Full set: 92 questionsThe International Association for Contract & Commercial Management (IACCM), now known as World Commerce & Contracting (World CC), provides extensive research, frameworks, and best practices on commercial relationships and contracting. This directly assists a Category Manager in selecting and implementing the most appropriate sourcing model for a specific category of spend. The choice of a sourcing model (e.g., transactional, collaborative, performance-based) is fundamentally determined by the desired commercial relationship and the structure of the contract, which is the core expertise of World CC. Their resources enable managers to align the sourcing approach with strategic objectives, moving beyond traditional procurement tactics to create more value-driven supplier relationships.
A. Choosing the correct supplier: World CC provides frameworks for supplier evaluation and relationship management, but it does not recommend or select specific suppliers for an organisation.
B. Analysing the market: While World CC's insights can inform market understanding, its primary focus is on the commercial and contractual engagement after a market has been analysed.
D. Completing benchmarking: World CC provides benchmarking data on contracting performance, but this is a supporting tool. Its main contribution is the strategic framework for sourcing and contracting itself.
1. CIPS. (2019). Category Management L5M6, Study Guide. Stamford, UK: Chartered Institute of Procurement & Supply. (Typically discusses professional bodies and their roles in sourcing strategy in chapters on developing category strategies).
2. World Commerce & Contracting. (2021). Contracting Principles: A New Foundation for Commerce. This publication outlines principles for establishing successful commercial relationships, which are the foundation for different sourcing and relationship models. Available at: https://www.worldcc.com/Resources/Content-Hub/View/ArticleId/15509/Contracting-Principles
3. Vitasek, K. (2013). Vested Outsourcing: Five Rules That Will Transform Outsourcing. Palgrave Macmillan. (This sourcing model was developed in partnership with the University of Tennessee and heavily promoted by IACCM/World CC, demonstrating their direct influence on sourcing models). DOI: https://doi.org/10.1057/9781137321819
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