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CIPS L4M2 Exam Syllabus Topics:

SectionWeightObjectives
Market management in procurement and supply20-25%- Assess market forces and trends
  • 1. Global vs local market conditions
  • 2. Technological, legal, economic, social factors
  • 3. Supply and demand dynamics
- Evaluate market information sources
  • 1. Supplier intelligence and market research
  • 2. Industry reports, government data, trade journals
- Analyse market structures and competition
  • 1. Impact of market structure on procurement strategies
  • 2. Perfect competition, monopoly, oligopoly, monopolistic competition
Devise a business case for requirements sourced externally20-25%- Interpret financial budgets for purchase control
  • 1. Cash flow and cost entries
  • 2. Budget performance and variance management
  • 3. Purpose and structure of budgets
- Estimate costs and prices for procurement activities
  • 1. Cost estimation and budgeting methods
  • 2. Direct and indirect costs
  • 3. Total cost of ownership / whole life costing
  • 4. Market data sources for cost/price information
- Influence of business needs on procurement decisions
  • 1. Procurement's role in developing business cases
  • 2. Impact of business needs on purchase types
  • 3. Types of purchase: new, modified rebuy, straight re-buy
- Criteria for creating business cases
  • 1. Benchmarking requirements
  • 2. Costs, benefits, options, alignment, timescales
Use specifications in procurement and supply20-25%- Types of specifications
  • 1. Conformance vs performance specifications
  • 2. Output/outcome-based specifications
  • 3. Drawings, samples, brands, technical standards
- Sources for developing specifications
  • 1. Internal stakeholders, technical experts, standards bodies
  • 2. Suppliers, industry benchmarks, regulatory requirements
- Advantages and limitations of specification types
  • 1. Risk, cost, flexibility, supplier innovation impact
Legal and regulatory considerations10-15%- Sustainability and ethical requirements
  • 1. Environmental, social, ethical criteria
- Legislation affecting requirements definition
  • 1. Procurement regulations, competition law, standards
Stakeholder management in defining needs15-20%- Align needs with organisational objectives
  • 1. Strategic alignment and value contribution
- Communicate and consult with stakeholders
  • 1. Resolving conflicting requirements
  • 2. Methods for gathering requirements
- Identify and classify stakeholders
  • 1. Power/interest matrix and engagement strategies
  • 2. Internal vs external stakeholders

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CIPS Defining Business Needs Sample Questions (Q151-Q156):

NEW QUESTION # 151
A procurement manager decided to use a conformance specification in a request for quotation (RFQ) for the manufacturing of a specialist item designed by their company. The company does not have the capability to manufacture the item in-house, but requires the item to be made to their detailed specification. Was this the correct thing to do?

Answer: B

Explanation:
Detailed Explanation:
Conformance specifications are appropriate when the buyer has precise requirements that must be met. This ensures the final product aligns perfectly with the company's needs, even if it limits supplier flexibility.
Reference: CIPS Level 4, Conformance Specification in Procurement.


NEW QUESTION # 152
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

Answer: A,B

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.

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:
LO 1, AC 1.4


NEW QUESTION # 153
Which of the following are likely to be disadvantages of using outcome-based specifications? Select THREE that apply

Answer: B,E,F

Explanation:
An Outcome Based Specification (OBS) focuses on the desired outcome of a service in business terms, rather than a detailed technical specification of how the service is to be provided; this allows providers scope to propose innovative solutions that might not have occurred to the procurement team. Outcome should be distinguished from output, which is the measurable results of a set of inputs. The example of difference between outcome and output is written at the bottom of page 123 in the study guide.
Outcomes should be the starting point in making new specification. However, using outcome-based specification has some setbacks:
- First, it is not easy to measure the outcomes. Usually, outcome of a project is a statement like 'increase customer satisfaction', 'maintain ambient temperature' or 'provide a convenient way to do something'. They are not easy to measure as output.
- Second, sometimes the desired outcomes require time to be materialised
- Third, outcomes can be ambiguous


NEW QUESTION # 154
At which stage of product life cycle, price competition between sellers will be the most intense?

Answer: B

Explanation:
The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves. The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline.

Chart, line chart Description automatically generated
Source: https://blueoceanoutsource.co.ke/the-product-life-cycle-concept/ At maturity stage, price competition sets in as more and more supply capacity has been added by new entrants, then the competition will be the most intense.


NEW QUESTION # 155
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

Answer: A,B

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.


NEW QUESTION # 156
......

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