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CIPS L4M2: Defining Business Needs exam is an essential qualification for procurement professionals who want to develop their skills and progress in their careers. It provides a comprehensive understanding of the procurement process and the skills required to develop effective procurement strategies, making it a valuable asset for any procurement professional.
CIPS L4M2 Exam is an essential exam for procurement professionals as it helps them to develop their procurement skills and knowledge, which are essential in today's dynamic business environment. L4M2 Exam equips professionals with the necessary skills to identify and analyze business needs, which is crucial in developing effective procurement strategies. Additionally, the CIPS L4M2 Exam prepares professionals to work collaboratively with stakeholders to ensure that procurement processes align with the overall business objectives.
Additionally, students can take multiple CIPS L4M2 exam questions, helping them to check and improve their performance. Three formats are prepared in such a way that by using them, candidates will feel confident and crack the Defining Business Needs (L4M2) actual exam. These three formats suit different preparation styles of L4M2 test takers.
The Defining Business Needs unit is assessed through an exam that consists of multiple-choice questions. L4M2 Exam assesses learners' ability to apply the knowledge and skills learned in the unit to real-life scenarios. L4M2 exam is designed to test learners' critical thinking abilities and their ability to identify and evaluate business needs. Successful completion of the exam is a key step towards achieving the Level 4 Diploma in Procurement and Supply, which is a globally recognized qualification for procurement and supply chain professionals.
NEW QUESTION # 292
Which of the following are features of a conformance specification? Select TWO that apply.
Answer: A,D
NEW QUESTION # 293
Royal Navy is preparing a through-life contract. They put to the contract a term on rectification of operational defects and planning and delivery of Fleet Time Support Periods. Which part of through-life requirement does this term belong to?
Answer: C
Explanation:
There are 6 main components of the through-life requirements of an asset: Design, Manufacture, Installation, In-service support, Decommission and disposal and Customer support.
Rectification of operational defects and planning and delivery of Fleet Time Support Periods are maintenance activities which belong to in-service support. You may have chosen Customer support. However, in through-life asset management context, customer support does not include maintenance services. Instead, it is the services that go along the stages of asset life. It may include consulting, communication and information exchange.
Source: Andrew Graves
Reference:
LO 3, AC 3.2
NEW QUESTION # 294
In Kano model, which of the following types of requirement should be excluded from the product or service?
Answer: C
Explanation:
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 three categories (figure 3):
a) Basic Requirements (or Must-be requirement). The basic requirements fulfill the basic func-tions of a product. If they are not present or their performance is insufficient, customers will be extremely dissatisfied.
On the other hand, if they are present or have sufficient performance, they don't bring satisfaction. Customers see them as prerequisites. For instance, for luxury automobiles, "air bags" are considered basic. A customer won't feel satisfied if the automobile has "air bag", however he/she will not buy it if "air bag" is not present.
b) Performance Requirements (or One-dimensional requirements). As for these requirements, satisfaction is proportional to the performance level - the higher the performance, the higher the customer's satisfaction will be and vice-versa. Gas consumption in automobiles is an example of these requirements. Usually customers explicitly demand performance requirements.
c) Excitement Requirements (or Attractive requirements). These requirements are key to cus-tomer satisfaction. If they are present or have sufficient performance, they will bring superior satisfaction. On the other hand, if they are not present or their performance is insufficient, customers will not get dissatisfied. For instance, a surprise gift at the end of a dinner in a restaurant will certainly bring satisfaction, but it will not cause dissatisfaction if not offered. These requirements are not demanded nor expected by customers.
Two other types of requirements may be identified in the Kano model: neutral and reverse ones. Neutral requirements do not bring either satisfaction or dissatisfaction. Reverse require-ments bring more satisfaction if absent than if present.
Diagram Description automatically generated
Reference:
- Integrating Kano model and QFD for Designing New Products
- CIPS study guide page 171-172
NEW QUESTION # 295
Aldar Properties is a property developer in UAE. In last month, it spent $2,160 for 10 tons of steel. In this month, it had planned 10% increment in budget for steel comparing to last month. But the number of orders boosted and total spend on steel reached $1,992.1 while Aldar has imported 11 tons. What is the main cost driver of steel budget?
Answer: C
Explanation:
In this question, you have to calculate price variance and quantity variance.
Last month, 1 tonne of steel costed $216. This month, the price decreases to $181.1. Price variance = (P1 - P2)
*Q2 = ($216-$181.1)*11 = $383.9
Quantity variance = (Q1-Q2)*P1 = -$216
Price variance is greater than quantity variance, therefore, price variance is the main cost driver.
LO 1, AC 1.4
NEW QUESTION # 296
Which of the following are typical benefits of through-life asset management to buying organisa-tion? Select the TWO that apply.
Answer: B,D
Explanation:
According to Andrew Graves, "Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer." Benefits of through-life asset management can be:
- Lower total life-cycle costs
- Better match between the asset and end-user's needs
- Better supplier capabilities over time because it gains experience of buying organisation's needs.
Reference: CIPS study guide page 131
LO 3, AC 3.2
NEW QUESTION # 297
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