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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | CIPS Level 4 Diploma in Procurement and Supply – L4M2 Defining Business Needs |
| Exam Number: | L4M2 |
| Exam Format: | Computer-based objective test, Multiple-choice questions |
| Certificate Validity Period: | No expiry (qualification does not expire once achieved) |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Real Exam Qty: | 60 |
| Passing Score: | 70% |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply CIPS Level 5 Advanced Diploma in Procurement and Supply |
| Recommended Training: | CIPS Level 4 Learning Support CIPS Official Study Resources |
| Exam Registration: | CIPS Qualifications Registration Pearson VUE CIPS Exams Booking |
| Sample Questions: | CIPS L4M2 Sample Questions |
| Exam Way: | Computer-based exam delivered via authorised test centres or remote proctoring (Pearson VUE) |
| Pre Condition: | No formal prerequisites required, but completion of CIPS Level 3 is recommended for progression into Level 4. |
| Official Syllabus URL: | https://www.cips.org/qualifications/ |
The CIPS L4M2 questions PDF questions are portable and printable, making it simple for you to prepare for the Defining Business Needs (L4M2) test in a short time. Smart devices such as smartphones, tablets, and laptops all support the CIPS L4M2 Exam PDF dumps format of our study material.
Preparing for the CIPS L4M2 exam requires a significant amount of study and preparation. Candidates are advised to review the exam syllabus in detail and to ensure that they have a good understanding of the key concepts and principles. They should also familiarize themselves with the case study format and practice answering case study questions to build their confidence and improve their skills.
The Chartered Institute of Procurement and Supply (CIPS) offers a variety of certification exams that are recognized globally as a mark of excellence in the procurement and supply profession. One such certification exam is the CIPS L4M2 (Defining Business Needs) which is designed to help professionals develop a thorough understanding of business needs and how to translate them into effective procurement processes.
NEW QUESTION # 173
Which of the following sources of information are considered as primary data? Select TWO that apply.
Answer: B,E
Explanation:
The aim of this question is to check students' understanding of different types of data. There are 2 types of data:
- Primary data is the collection of original or raw data which are generated from field research. In this case, only RFI and surveys from customers are considered as primary data.
- On the other hand, secondary data is public information that has been collected by others. It is typically free or inexpensive to obtain and can act as a strong foundation to any research project - provided you know where to find it and how to judge its worth and relevance. Examples of secondary data are government statistics, industry associations, trade publications, published market reports, etc.
Reference: CIPS study guide page 22-24
LO 1, AC 1.2
NEW QUESTION # 174
An automotive manufacturer is sourcing rubber components from Company A. The specification given to the supplier state that the component should be 1 meter long, without mentioning the tolerance. Enthusiast with the opportunity, engineers at Company A work hard to cut the components with tolerance at only +/- 1mm.
The head and tail of the component is then joined together to form a circular band. After that it is stretched over another component. To fit this purpose, the rubber component can be at any length from 80cm to 110cm.
This is an example of...?
Answer: A
Explanation:
This questions is intended to ask students about types of waste in Lean principles.
Lean was born out of manufacturing practices but in recent time has transformed the world of knowledge work and management. It encourages the practice of continuous improvement and is based on the fundamental idea of respect for people. Womack and Jones defined the five principles of Lean manufacturing in their book "The Machine That Changed the World". The five principles are considered a recipe for improving workplace efficiency and include: 1) defining value, 2) mapping the value stream, 3) creating flow,
4) using a pull system, and 5) pursuing perfection.
Lean principles aim to eliminate waste in processes. The eight wastes of Lean principles are:
- Defects
- Over-production
- Waiting
- Not using talent
- Transport and handling
- Inventory
- Motion waste
- Excess processing
In the scenario, the component is processed more than necessary. The engineers try to make them as accurate as possible with very little tolerance. In fact, the component does not need to be that precise. This excesses buyer's requirements and incurs costs for both buyer and supplier. The scenario is an example of over processing (or excess processing).
Overprocessing is one of the seven wastes of lean manufacturing (or 7 mudas); Overprocessing is adding more value to a product than the customer actually requires such as painting areas that will never be seen or be exposed to corrosion.
Overprocessing as one of the seven wastes is caused by having unclear standards and specifications, many operators will try to do the best job possible and will not always be aware of what truly adds value to the product or even the end use. They will therefore often expend time polishing and finishing components that do not require it.
Reference:
- CIPS study guide page 153-156
- Waste of Overprocessing; causes, costs, examples solutions, symptoms (leanmanufactur-ingtools.org) LO 3, AC 3.4
NEW QUESTION # 175
XYZ Ltd is a large supermarket chain which operates mainly in the UK and Europe. Their custom-ers are increasingly concerned about sustainability. Therefore, procurement manager is required to source the products from suppliers who have good environmental performance. Which of the fol-lowing can be an assurance that the supplier has procedures and policies to enhance its environmental performance?
Answer: A
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 22716:2007 gives guidelines for the production, control, storage and shipment of cosmetic products. These guidelines cover the quality aspects of the product, but as a whole do not cover safety aspects for the personnel engaged in the plant, nor do they cover aspects of protection of the environment.
ISO 13485:2016 specifies requirements for a quality management system where an organization needs to demonstrate its ability to provide medical devices and related services that consistently meet customer and applicable regulatory requirements.
Reference:
LO 3, AC 3.1
NEW QUESTION # 176
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply
Answer: C,D
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 # 177
Which of the following market sectors is largely commodity-dependent, impacted by food standards and public health, impacted by climate change and population change, and driven by technology to improve production yield?
Answer: D
NEW QUESTION # 178
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