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CIPS L4M2 Exam Syllabus Topics:

SectionObjectives
Topic 1: Understand how to develop a business case for requirements to be sourced from external suppliers- Analyse how market factors affect procurement
Topic 2: Understand the use of specifications in procurement and supply
Topic 3: Understand market management in procurement and supply- Compare the competitive forces that influence markets
  • 1. Bargaining strength of suppliers and buyers
  • 2. Availability of substitutes and threat of new entrants
- Contrast direct costs and indirect costs
  • 1. Sources of information to estimate costs and prices

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CIPS Defining Business Needs Sample Questions (Q29-Q34):

NEW QUESTION # 29
Company A sells a product for $100. The total unit variable costs are $60. Fixed costs as in its ac-count are
$20,000. How many products does the company have to sell to achieve break-even point?

Answer: C

Explanation:
Break even point = Fixed costs/(Price-variable cost). In this case, break even point = 20,000/(100-60) = 500


NEW QUESTION # 30
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system.
The procurement manager approaches this matter with a through-life specification. He supposes that stating
"good quality" in the specification will be enough for quality standard section. Is the procurement manager's thought appropriate?

Answer: C

Explanation:
Specifications for through-life contracts must be clear. They should use precise technical language and avoid any ambiguity as much as possible. In most cases, 'good quality' is ambiguous. The con-tractor doesn't know exactly which product the buying organisation needs and how to supply that product.
Other notices for description of requirement are:
- Short and simply description
- Clear definitions at the beginning of the documents
- Clarify abbreviations (if any), but abbreviations should be avoided as much as possible
- Avoid any 'slang'
- Use imperative forms of language whenever possible.
LO 3, AC 3.2


NEW QUESTION # 31
Simon has received a requisition for a product identical to one already purchased, but this time the product requires specific customer-branded packaging. What type of purchase is this?

Answer: C

Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2: Specification and Buying Situations) CIPS identifies three main buying types:
* Straight re-buy - same product, same conditions.
* Modified re-buy - some aspects changed (e.g. packaging, quantity, or delivery).
* New buy - first-time purchase.
Since the product is the same but the packaging is changed, it fits modified re-buy.
Relevant CIPS L4M2 Sections:
* Buying situations and procurement complexity
* Modified re-buy examples


NEW QUESTION # 32
What is the contribution of marketing function to the development of specification?

Answer: D

Explanation:
Marketing plays a critical role in sales. The marketing department introduces products to the con-sumer, and creates strategic messaging that elevates appeal and ultimately drives sales. The feed-back and response from consumers is measured by the marketing team on a variety of levels. Ad-vertising is one means of seeing what performs and what does not perform. Marketers will note trends and demand in their specific markets. This plays into new product development, because the marketing team can work with product developers to create products based on that demand.
In development of specification, the role of marketing is largely the same. They provide the market insight so that right specification is developed and it matches the demands from customers.
Reference:
- CIPS study guide page 173-175
- Role of Marketing Management in New Product Development (chron.com)
LO 3, AC 3.4


NEW QUESTION # 33
When procuring an IT equipment, at which stage the buyer's expectations are translated into a technical specification?

Answer: C

Explanation:
IT equipment is typically linked with through-life contracts. This type of contract not only deal with the specification and the price of a machinery, but also other stages such as design, manufacture, installation, in- service support, decommission and disposal. Among these stages, the design stage is when buyer's requirements are translated into technically correct specification.


NEW QUESTION # 34
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