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CIPS L4M2 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Market management in procurement and supply	20-25%	- Analyse market structures and competition 1. Perfect competition, monopoly, oligopoly, monopolistic competition 2. Impact of market structure on procurement strategies - Assess market forces and trends 1. Technological, legal, economic, social factors 2. Supply and demand dynamics 3. Global vs local market conditions - Evaluate market information sources 1. Supplier intelligence and market research 2. Industry reports, government data, trade journals
Topic 2: Legal and regulatory considerations	10-15%	- Sustainability and ethical requirements 1. Environmental, social, ethical criteria - Legislation affecting requirements definition 1. Procurement regulations, competition law, standards
Topic 3: Stakeholder management in defining needs	15-20%	- Identify and classify stakeholders 1. Power/interest matrix and engagement strategies 2. Internal vs external stakeholders - Communicate and consult with stakeholders 1. Methods for gathering requirements 2. Resolving conflicting requirements - Align needs with organisational objectives 1. Strategic alignment and value contribution
Topic 4: Use specifications in procurement and supply	20-25%	- Types of specifications 1. Conformance vs performance specifications 2. Output/outcome-based specifications 3. Drawings, samples, brands, technical standards - Sources for developing specifications 1. Suppliers, industry benchmarks, regulatory requirements 2. Internal stakeholders, technical experts, standards bodies - Advantages and limitations of specification types 1. Risk, cost, flexibility, supplier innovation impact
Topic 5: Devise a business case for requirements sourced externally	20-25%	- Estimate costs and prices for procurement activities 1. Market data sources for cost/price information 2. Total cost of ownership / whole life costing 3. Cost estimation and budgeting methods 4. Direct and indirect costs - Influence of business needs on procurement decisions 1. Procurement's role in developing business cases 2. Types of purchase: new, modified rebuy, straight re-buy 3. Impact of business needs on purchase types - Criteria for creating business cases 1. Benchmarking requirements 2. Costs, benefits, options, alignment, timescales - Interpret financial budgets for purchase control 1. Cash flow and cost entries 2. Purpose and structure of budgets 3. Budget performance and variance management

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CIPS Defining Business Needs Sample Questions (Q304-Q309):

NEW QUESTION # 304
SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?

A. No, industry benchmarks do not consider specific specifications, quality requirements, or real-time market conditions
B. No, the organisation will not have access to industry benchmarks as they are a new organisation
C. Yes, industry benchmarks are always kept up to date to consider real-time market conditions
D. Yes, cost predictions do not need to be accurate as they are just an initial guess

Answer: A

NEW QUESTION # 305
Which of the following standards specifies requirements for a quality management system?

A. ISO 27001
B. ISO 9001:2015
C. ISO 14001:2015
D. ISO 22000:2018

Answer: B

Explanation:
ISO 9001:2015 specifies requirements for a quality management system.
ISO 14001:2015 specifies the requirements for an environmental management system that an or-ganization can use to enhance its environmental performance. ISO 14001:2015 is intended for use by an organization seeking to manage its environmental responsibilities in a systematic manner that contributes to the environmental pillar of sustainability.
ISO 22000:2018 specifies food safety management systems - Requirements for any organization in the food chain ISO 27001 provides requirements for an information security management system.
LO 3, AC 3.1

NEW QUESTION # 306
Which of the following factors should be assessed to understand the competitiveness of a supply market?

A. Number of suppliers within the market
B. Gross National Product of the country of manufacture
C. Presence of a minimum wage
D. Previous price paid for goods

Answer: A

Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2: Market Analysis) Competitiveness is determined by market structure-how many suppliers operate and how concentrated they are.
A large number of suppliers = competitive market; few suppliers = oligopoly/monopoly # less competitive.
Hence, C is correct.
Relevant CIPS L4M2 Sections:
* Market competitiveness and supplier concentration
* Market intelligence for sourcing strategies

NEW QUESTION # 307
A company has a lists of items that make up 15% of total spend. These items also do not largely impact on quality of final product. The supply continuity is secured. Which of the following will be the most appropriate managing approach to purchase these items?

A. Enhance supply continuity
B. Drive down cost based on market competition
C. Simplify procurement process
D. Build partnership with suppliers

Answer: C

Explanation:

Those items make up small portion of spend and the supply risk is low. So it is tactical item according to Kraljic portfolio matrix. Procurement should bundle these items into larger contracts, simplify procurement process.
LO 2, AC 2.1

NEW QUESTION # 308
Which of the following is a challenge of making a business case for straight re-buys?

A. Terms and conditions
B. Identifying suitable suppliers
C. Research of procurement process
D. Effective inventory control

Answer: D

Explanation:
For straight re-buy, the specifications for the products are known. Generally, there will be an existing contract with supplier in place. The business need is challenged annually, only on the annual demand. So effective inventory control will help procurement successfully manage straight re-buy.
Reference:
LO 1, AC 1.1

NEW QUESTION # 309
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