L4M2 Latest Learning Materials - L4M2 New Dumps Sheet

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CIPS L4M2 Exam Syllabus Topics:

Section	Objectives
Topic 1: 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
Topic 2: Understand the use of specifications in procurement and supply
Topic 3: Understand how to develop a business case for requirements to be sourced from external suppliers	- Analyse how market factors affect procurement

Section

Objectives

Topic 1: 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

Topic 2: Understand the use of specifications in procurement and supply

Topic 3: Understand how to develop a business case for requirements to be sourced from external suppliers

- Analyse how market factors affect procurement

>> L4M2 Latest Learning Materials <<

Top L4M2 Latest Learning Materials Pass Certify | Professional L4M2 New Dumps Sheet: Defining Business Needs

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CIPS Defining Business Needs Sample Questions (Q188-Q193):

NEW QUESTION # 188
A drawing is an example of...?

A. Outcome specifications
B. Technical specifications
C. Output specifications
D. Statements of work

Answer: B

Explanation:
A technical specification details the standards that a product or service must meet. Drawings (often called engineering drawings or technical drawings) are complementary to technical specifications

NEW QUESTION # 189
Which of the following specific markets is most likely to have product shortage by nature?

A. Financial
B. Retail
C. Services
D. Construction
E. Agriculture

Answer: E

Explanation:
Products used in agriculture can be subject to shortage due to natural disasters.

NEW QUESTION # 190
In which circumstances would it be relevant to require supplier accreditation to the ISO 14001 international standard in a contract specification? Select THREE that apply.

A. The requirements cause emissions to air and water
B. The requirements impact on occupational health
C. The requirements involve the processing of data
D. The requirements will generate waste
E. The requirements will use natural resources
F. The requirements need specific quality assurance

Answer: A,D,E

NEW QUESTION # 191
Which of the following is a social factor that a buyer should take into account when reviewing responses to a specification?

A. The age of the machinery being used by the supplier
B. The logistical infrastructure available to the supplier
C. The emissions produced by the supplier's machinery
D. The available labour in the supplier's geographic location

Answer: D

NEW QUESTION # 192
John has been asked to develop a business case before obtaining approval to purchase a large piece of capital equipment for a glove manufacturing unit. Is this the right thing to do?

A. No, because this can lead to business-focused thinking
B. Yes, because this will assist the purchase order
C. No, because risk consideration is not John's responsibility
D. Yes, because this will help compare alternatives and options

Answer: D

Explanation:
Detailed Explanation:
A business case allows for the evaluation of alternatives and ensures alignment with strategic goals. It also assesses risks, benefits, and financial impact, providing a comprehensive basis for decision-making.
Reference: CIPS Level 4, Capital Expenditure and Business Case Development.

NEW QUESTION # 193
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