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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Defining Business Need |
| Exam Number: | L4M2 |
| Real Exam Qty: | 60 |
| Exam Duration: | 90 minutes |
| Exam Format: | Objective Response (Multiple Choice) |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Available Languages: | English |
| Passing Score: | 70% |
| Sample Questions: | CIPS L4M2 Sample Questions |
| Exam Way: | Computer-based exam at accredited centres |
| Pre Condition: | Recommended 2+ years relevant business experience |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-in-procurement-supply/defining-business-need |
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CIPS L4M2 Exam is designed to be challenging and comprehensive. It covers a wide range of topics related to business needs analysis, including business strategies, stakeholder analysis, requirements gathering, gap analysis, and solution evaluation. Candidates must demonstrate a thorough understanding of each of these topics and their practical application in real-world business scenarios.
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.
NEW QUESTION # 287
Which of the following specific markets is most likely to have product shortage by nature?
Answer: E
Explanation:
Products used in agriculture can be subject to shortage due to natural disasters.
Reference:
LO 2, AC 2.1
NEW QUESTION # 288
British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly. Which of the following will be the most appropriate managing approach to procure these items?
Answer: D
Explanation:
The instrument plays a crucial role in steel manufacturing because it presents in the majority of products, in which case lacking this instrument would have significant impact on the organisation's output (production lines stop or damaging other machine). Otherwise, the risk of supply is high because there is limitation in supply. Therefore, it is considered as a strategic item in term of Kraljic's portfolio matrix. Procurement manager should form partnership with suppliers to maximise the value.
The following graph illustrates Kraljic's portfolio matrix:
Reference:
LO 2, AC 2.1
NEW QUESTION # 289
ABC Ltd has enormous investment in facilities and machinery. It also employs skilled workforce. To be profitable, the company has to produce at massive quantity. Which sector does ABC Ltd belong to?
Answer: C
Explanation:
In the scenario, ABC Ltd has the following characteristics:
- Large investment in facilities and machinery
- Access to skilled workforce
- Mass production.
This company is a manufacturer. Manufacturing is an industry that makes products from raw ma-terials by the use of manual labour or machinery and that is usually carried out systematically with a division of labour.
Manufacturing requires investment in machinery and access to a suitably skilled workforce as well as materials and components.
Reference:
- CIPS study guide page 74-76
- manufacturing | Definition, Types, & Facts | Britannica
LO 2, AC 2.1
NEW QUESTION # 290
FSB Group is developing a specification for the construction of a new building. The project stakeholders need the specification to set specific criteria to ensure fair labour practices and local employment opportunities are prioritised. Which of the following describes this type of sustainability criteria?
Answer: C
Explanation:
Detailed Explanation:
Social sustainability focuses on ethical considerations like fair labour practices, inclusivity, and community development. By addressing these criteria, FSB Group aligns with responsible business practices. Reference:
CIPS Level 4, Sustainability in Procurement.
NEW QUESTION # 291
A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost- savings. Is the procurement manager's opinion correct?
Answer: B
Explanation:
The specification that is produced too detailed will incur unnecessary cost because it does not allow suppliers to use their expertise in finding the most efficient way to produce it.
'No, because higher requirements in specification, the greater bargaining power of buying organi-sation': more detailed specifications could tighten the supplier base and potentially leave buying organisation with fewer potential supplier. This may reduce buyer's bargaining power in negotia-tion.
'Yes, because higher requirements will help buying organisation find the best supplier': in some circumstances, higher requirements will lead to smaller supplier base. In the worst scenario, there is no supplier who has capability to carry out those requirements
'Yes, because optimising the specification is the only method to achieve value for money': There are other methods to achieve cost saving and value for money, inter alia, volume concentration, relationship restructuring, etc.
NEW QUESTION # 292
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