BTW, DOWNLOAD part of Itcertking L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=1X4ng4IkSaOFLHQETJOuDAKSjjBKiCRo4
In order to cater to different needs of our customers, we have three versions for L4M2 exam materials. Each version has its own feature, and you can choose the most suitable one according to your own needs. L4M2 PDF version supports print, if you like hard one, you can choose this version and take notes on it. L4M2 Online Test engine supports all electronic devices and you can also practice offline. L4M2 Soft test engine can stimulate the real exam environment, and you can install this version in more than 200 computers. Just have a look, there is always a version is for you.
CIPS L4M2 (Defining Business Needs) Exam is an important certification for professionals who want to develop their skills in procurement and supply chain management. L4M2 exam is designed to test the ability of individuals to identify and define business needs, and to develop effective procurement strategies to meet those needs. L4M2 exam covers a range of topics, including the procurement process, stakeholder management, and risk management.
Successful completion of the CIPS L4M2 Exam demonstrates to employers and colleagues that you have the skills and knowledge required to manage procurement activities effectively. It is also an excellent way to advance your career and increase your earning potential, as many organizations require their procurement professionals to hold CIPS certification.
>> Valid L4M2 Exam Experience <<
The Defining Business Needs (L4M2) exam questions are being offered in three different formats. The names of these formats are L4M2 desktop practice test software, web-based practice test software, and PDF dumps file. The L4M2 desktop practice test software and web-based practice test software both give you real-time CIPS L4M2 exam environment for quick and complete exam preparation.
The Defining Business Needs module is an important component of the Level 4 Diploma in Procurement and Supply. This module provides professionals with the skills and knowledge needed to effectively identify and analyze business needs. The module is relevant for professionals who are responsible for procurement and supply chain activities within their organizations, as well as those who are interested in pursuing a career in procurement and supply chain management.
NEW QUESTION # 262
Which of the following are likely to be disadvantages of using outcome-based specifications? Select THREE that apply
Answer: A,C,E
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
Reference:
LO3, AC 3.1
NEW QUESTION # 263
A buying organisation may not have technical capability to produce a highly complex specification. Which of the following are sources of information that can be used to create the specification? Select TWO that apply
Answer: A,E
Explanation:
If an organisation doesn't have capability to produce a technical specification, they can draft one based on standards or consulting the suppliers.
NEW QUESTION # 264
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?
Answer: B
Explanation:
Risk control is the process by which an organization reduces the likelihood of a risk event occurring or mitigates the effects that risk should it occur. CIPS preferred way to determine your risk control strategy is to use the four T's Process:
Transferring Risk can be achieved through the use of various forms of insurance, or the payment to third parties who are prepared to take the risk on behalf of the organization Tolerating Risk is where no action is taken to mitigate or reduce a risk. This may be because the cost of instituting risk reduction or mitigation activity is not cost-effective or the risks of impact are at so low that they are deemed acceptable to the business. Even when these risks are tolerated they should be monitored because future changes may make it no longer tolerable.
Treating Risk is a method of controlling risk through actions that reduce the likelihood of the risk occurring or minimize its impact prior to its occurrence. Also, there are contingent measures that can be developed to reduce the impact of an event once it has occurred. Finding an alternative sup-plier is an example of treating the risk.
Terminating Risk is the simplest and most often ignored method of dealing with risk. It is the ap-proach that should be most favored where possible and simply involves risk elimination. This can be done by altering an inherently risky process or practice to remove the risk. The same can be used when reviewing practices and processes in all areas of the business.
If an item presents a risk and can be changed or removed without it materially affecting the busi-ness, then removing the risk should be the first option considered; rather than attempting the treat, tolerate or transfer it.
NEW QUESTION # 265
A procurement team is categorising their purchased items into four quadrants of Kraljic's supply chain portfolio matrix. They realise that there are some low-value items which come from very few suppliers in the market. The organisation is critically dependent on these suppliers. The team plans to reduce the dependence by finding alternative sources. Is this a right course of action?
Answer: B
Explanation:
According to Kraljic portfolio matrix, the low-value items with high supply risk are bottleneck items.
The purchasing strategy that is commonly recommended for these products is primarily based on acceptance of the dependence and reduction of the negative effects of the unfavourable position. An alternative strategy suggested by purchasing practitioners is to find other suppliers and move towards the non-critical quadrant.
- Accept dependence, reduce negative consequences: The main focus of this strategy is to assure supply, if necessary even at additional cost. Examples of this strategy are keeping extra stocks of the materials concerned or developing consigned stock agreements with suppliers. By performing a risk analysis firms can identify the most important bottleneck products and consider the implications. A possible action for dealing with unexpected bad dependence positions for certain products is to employ contingency planning.
- Reduce dependence and risk, find other solutions: This strategy is geared towards reducing the dependence on the supplier. The most common way to achieve this is to broaden the specifications of the product or to search for new suppliers.
The procurement team in the scenario has selected reducing dependency by finding alternatives. This is a right strategy for bottleneck item.
Reference:
- CIPS study guide page 82-84
- Purchasing strategies in the Kraljic matrix-A power and dependence perspective, Marjolein C.J. Caniels, Cees J. Gelderman LO 2, AC 2.1
NEW QUESTION # 266
Which of the following is the structured approach for defining customer requirements and translating them into technical specification?
Answer: B
Explanation:
Quality function deployment (QFD) is a method to transform qualitative user demands into quantitative parameters, to deploy the functions forming quality, and to deploy methods for achieving the design quality into subsystems and component parts, and ultimately to specific elements of the manufacturing process.
Kano model of excitement and basic quality (Kano et al, 1984; Berger et al, 1993; Matzler et al, 1996) brings a different perspective for the analysis of improvement opportunities in products and services because it takes in consideration the asymmetrical and non-linear relationship between performance and satisfaction. The Kano model classifies customers requirements in five categories: basic requirements, performance requirements, attractive requirements, indifferent requirements and reverse requirements.
Mendelow's Matrix is a tool that may be used by an organisation to consider the attitude of their stakeholders at the start of a project or when they are setting out strategic objectives.
The Thomas Kilmann model identifies two dimensions when choosing a course of action in a con-flict situation, these are assertiveness and cooperativeness. Assertiveness is the degree to which you try to satisfy your own needs. Cooperativeness is the degree to which you try to satisfy the other person's concerns.
Reference: CIPS study guide page 32
LO 1, AC 1.2
NEW QUESTION # 267
......
L4M2 Braindumps Torrent: https://www.itcertking.com/L4M2_exam.html
BTW, DOWNLOAD part of Itcertking L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=1X4ng4IkSaOFLHQETJOuDAKSjjBKiCRo4