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CIPS L4M2 Exam is an excellent choice for procurement professionals who are looking to take their career to the next level. Whether you are looking to progress within your current organisation, or to explore new opportunities in the industry, this qualification will provide you with the knowledge and skills necessary to succeed. With its focus on defining business needs and developing effective procurement strategies, the CIPS L4M2 exam is an essential qualification for anyone working in procurement and supply chain management.
CIPS Level 4M2 Defining Business Needs module is designed for procurement and supply professionals who are looking to enhance their skills in identifying and analyzing business needs. This module covers a range of topics, including stakeholder analysis, market analysis, and risk management. By taking this module, learners will be able to develop effective procurement strategies that meet the needs of their organization.
Success in the Defining Business Needs (L4M2) certification exam helps people update their skills. Many aspirants don't find updated CIPS L4M2 practice test questions and fail the final test. This failure in the CIPS L4M2 Exam leads to a loss of money and time. If you are also planning to attempt the Defining Business Needs (L4M2) exam and are confused about where to prepare yourself for it then you are at the right place.
CIPS L4M2 (Defining Business Needs) certification exam is designed to test the knowledge and skills of professionals in the field of procurement and supply chain management. Defining Business Needs certification program is recognized globally and is highly valued by employers and industry professionals alike. The CIPS L4M2 Exam is aimed at individuals who are looking to advance their careers in procurement and supply chain management.
NEW QUESTION # 163
Sam has recently joined Spahn Farm Foods (SFF) as a procurement manager. She has instructed her team to develop and distribute a standard specification template for business stakeholders to use when requesting purchases. How would this benefit SFF?
Answer: C
NEW QUESTION # 164
Which of the following are typical social considerations throughout the contract life cycle? Select the TWO that apply.
Answer: B,D
Explanation:
The following are typical social criteria in procurement:
* Reducing unemployment
* Preventing the use of child labour
* Preventing discrimination on the grounds of race, religion, disability, sex or sexual orientation
* Encouraging good employment practice
* Reducing local unemployment
* Reducing social exclusion
* Promoting training opportunities for the young or disadvantaged
* Encouraging access to work for people with disabilities
Reference: CIPS study guide page 137
LO 3, AC 3.2
NEW QUESTION # 165
Which of the following is an useful tool for value engineering?
Answer: A
Explanation:
Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis.
This takes place before any capital is invested in tooling, plant or equipment.
This is very significant, because according to many reports, up to 80% of a product's costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is under-standable when you consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs.
The Kano model is a theory for product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano, which classifies customer preferences into five categories. Both Kano model and Value Engineering aims at optimising new product, so they can be combined to-gether. CIPS L4M2 study guide consider Kano model is a tool of Value Engineering
Example of Kano model (source: Wikipedia)
Reference: CIPS study guide page 171-172
LO 3, AC 3.4
NEW QUESTION # 166
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply
Answer: A,C
Explanation:
To answer this question, candidates are required to remember the cash flow cycle and cost entries as well as the impact of their timing on a business.
Diagram Description automatically generated
Source: https://cfoperspective.com/free-your-cash-trapped-in-the-cash-conversion-cycle/ Shorter payment term and more inventory are likely to have negative impact on the cash flow be-cause the buyer has to pay sooner and greater.
"Customers agree to pay immediately" will increase the organisation's bank account sooner.
Depreciation has no impact on cash flow as it is only listed in Profit and Loss statement.
Increasing revenue may have negative or positive impact on cash flow, depending on the real situation.
Reference: CIPS study guide page 54
LO 1, AC 1.4
NEW QUESTION # 167
Due to the growth of consumer electronics market, semiconductor industry develops exponentially. However, the industry is dominated by a dozens of manufacturer. Chipset need to be built in factories with highly controlled environments. New chip factories cost billions of dollars and can take two years to build. Right now, factories are running at full capacity, which produce almost perfect yields, meaning basic chipset can be made for less than a dollar and more advanced versions for not much more. What are the barriers to new entrants in the semiconductor industry?
1. Poor industry growth
2. High set-up costs
3. Economies of scale
4. Low switching costs
Answer: B
Explanation:
Barriers to entry is an economics and business term describing factors that can prevent or impede newcomers into a market or industry sector, and so limit competition. The most obvious barriers to entry are high start-up costs and regulatory hurdles which include the need for new companies to obtain licenses or regulatory clearance before operation. Also, industries heavily regulated by the government are usually the most difficult to penetrate. Other forms of barrier to entry that prevent new competitors from easily entering a business sector include special tax benefits to existing firms, patent protections, strong brand identity, customer loyalty, and high customer switching costs.
In the scenario, the new factory for chipset manufacturing costs billions of dollars, which indicates high set-up costs. Also, the incumbent manufacturers have reached economies of scale, allowing them to produce the components at optimal price.
The above descriptions are compiled from recent reports on current chip shortage (2021).
NEW QUESTION # 168
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