2026 Test L4M2 Collection | High-quality CIPS L4M2: Defining Business Needs 100% Pass

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CIPS L4M2 Exam Syllabus Topics:

SectionObjectives
Understand market management in procurement and supply- Contrast direct costs and indirect costs
  • 1. Sources of information to estimate costs and prices
- Compare the competitive forces that influence markets
  • 1. Availability of substitutes and threat of new entrants
  • 2. Bargaining strength of suppliers and buyers
Understand how to develop a business case for requirements to be sourced from external suppliers- Analyse how market factors affect procurement
Understand the use of specifications in procurement and supply

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CIPS Defining Business Needs Sample Questions (Q233-Q238):

NEW QUESTION # 233
Which of the following are advantages of zero-based financial budgeting?
* Use of previous year figures
* Emphasis on short-term planning
* Budget treated as flexible
* Focus on operational issues

Answer: A

Explanation:
Detailed Explanation:
Zero-based budgeting emphasizes starting from scratch and justifying all expenses.
* 3 (Budget flexibility): Ensures resources are allocated dynamically based on needs.
* 4 (Focus on operational issues): Encourages alignment with operational priorities rather than historical trends.Using prior figures (1) is contrary to zero-based budgeting principles. Reference: CIPS Level 4, Financial Planning and Budgeting.


NEW QUESTION # 234
Apple's CPO is planning a budget for purchasing carbon-free aluminium next year. There are 27.4 tonnes of aluminum in stock, while Apple will need 200 tonnes for production next year and double inventory for production in the following year. How much aluminum will Apple need to purchase in next year?

Answer: B

Explanation:
The quantity of aluminium Apple needs to buy is calculated as follows:
Quantity needed for production + the inventory needed at the end of the year - inventory at start of the year That formula is quantified as: 200 + 54.8 - 27.4 = 227.4 Reference: CIPS study guide page 103 LO 2, AC 2.3


NEW QUESTION # 235
A buyer is undertaking an analysis of the market. This analysis has focused on the relative power of the main buyers in the market. It has also focused on the changes in capacity available amongst the key suppliers in this market. Which of the following describes this analysis?

Answer: B


NEW QUESTION # 236
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?

Answer: C

Explanation:
Basically, IKEA project team is undertaking the following process:
A picture containing text, businesscard Description automatically generated This is a typical benchmarking process. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
In the scenario, benchmarking process is undertaken within subsidiaries of IKEA, thus it is internal.
Reference:
- CIPS study guide page 49-51
- What is Benchmarking? Technical & Competitive Benchmarking Process | ASQ
- Internal Benchmarking at IKEA
LO 1, AC 1.3


NEW QUESTION # 237
Which of the following is the disadvantage of embedding standards in a specification?

Answer: A

Explanation:
"Standards are often produced by professional bodies (maybe national or international bodies). Standards tend to be stable for a period of time, therefore, they are likely to be static and discourage innovation." Reference: CIPS L4M3 study guide page 125 LO 3, AC 3.1


NEW QUESTION # 238
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