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CIPS L4M2 Exam Syllabus Topics:

Section	Objectives
Topic 1: Specification development	- Stakeholder engagement in requirements definition - Types of specifications (input, output, conformance) - Key performance indicators and measurable requirements
Topic 2: Demand management and value for money	- Balancing cost, quality, and risk - Whole life costing and total cost of ownership - Demand analysis and forecasting
Topic 3: Risk, sustainability, and compliance considerations	- Managing procurement and supply risks - Legal and regulatory constraints affecting specifications - Sustainability and ethical sourcing requirements
Topic 4: Understanding and defining business needs	- Role of procurement in identifying and defining needs - Alignment of procurement with organisational objectives

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CIPS Defining Business Needs Sample Questions (Q52-Q57):

NEW QUESTION # 52
Which of the following is a potential driver of change in the manufacturing industry to help reduce costs and increase efficiency?

A. Visualisation
B. E-commerce
C. Robotics
D. Omnichannel

Answer: C

NEW QUESTION # 53
Which of the following is the best definition of target costing?

A. The net present cost of the purchase or project and all future revenues flowing from it discounted back to the present time.
B. The total of all costs in acquiring goods or services from the inception of the demand for them until their safe and satisfactory delivery at the point required.
C. A product cost estimate derived from a competitive market price.
D. The cost of a product after analysing its components step by step

Answer: C

Explanation:
Target costing is an activity aimed at reducing the life-cycle costs of new products, while ensuring quality, reliability, and other consumer requirements by examining all possible ideas for cost reduction at the product planning, research and development and prototyping phases of production. But it is not just a cost reduction technique; it is part of a comprehensive strategic profit management system.

NEW QUESTION # 54
The first step in developing a business case, according to the procurement cycle is ...

A. contact the stakeholders
B. identify the need
C. source the market
D. appraise suppliers

Answer: B

NEW QUESTION # 55
A company is evaluating two investment projects: Project A and Project B. Project A has a high initial cost but generates substantial cash flows over time. Project B has a lower initial cost but generates modest cash flows consistently. The company's cost model indicates a payback period of three years for Project A and a payback of four years for Project B. Which of the following statements is correct regarding the cost models and cash flow profiling for these projects?

A. Project B's lower initial cost allows for faster profit realisation, making it the better investment choice
B. Project B's modest and consistent cash flows make it a risky investment option due to a longer payback period
C. Project A has a shorter payback period, making it a quicker return on investment compared to Project B
D. Project A's higher initial cost is a disadvantage, and its payback period should be extended for better profitability

Answer: C

Explanation:
Detailed Explanation:
Project A's shorter payback period means the initial investment is recovered more quickly, which is often preferred in cost models. The higher initial cost is offset by substantial cash flows, making it the more viable option based on ROI. Reference: CIPS Level 4, Investment Appraisal Techniques.

NEW QUESTION # 56
Which of the following activities are considered as primary activities of an organization according to Porter's value chain? Select TWO that apply:

A. Assembly design
B. Sourcing transportation services
C. Trainees recruitment
D. Maintenance
E. Picking and delivery components

Answer: D,E

Explanation:
Primary activities consist of inbound logistics, operations, outbound logistics, sales & marketing, service.
Second activities consist of firm infrastructure, human resource management, technology development and procurement The following graph illustrate the value chain (Source: Smartsheet) Graphical user interface, diagram Description automatically generated

Picking and delivery components is inbound logistics.
Maintenance is an example of operations activity.
Sourcing transportation services is an activity of procurement
Assembly design is an activity in research and development (Technology) Recruiting is an activity of human resource management Reference: CIPS study guide page 71 LO 2, AC 2.1

NEW QUESTION # 57
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