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In the Web-Based CIPS L4M2 Practice Exam, the Defining Business Needs (L4M2) exam dumps given are actual and according to the syllabus of the test. This Defining Business Needs (L4M2) practice exam is compatible with all operating systems like Mac, Linux, IOS, Android, and Windows. Likewise, this Defining Business Needs (L4M2) practice test is browser-based so it needs no special installation to function properly. Firefox, Chrome, IE, Opera, Safari, and all the major browsers support this Defining Business Needs (L4M2) practice exam.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Legal and regulatory considerations | 10-15% | - Sustainability and ethical requirements
|
| Topic 2: Use specifications in procurement and supply | 20-25% | - Types of specifications
|
| Topic 3: Market management in procurement and supply | 20-25% | - Analyse market structures and competition
|
| Topic 4: Stakeholder management in defining needs | 15-20% | - Communicate and consult with stakeholders
|
| Topic 5: Devise a business case for requirements sourced externally | 20-25% | - Influence of business needs on procurement decisions
|
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NEW QUESTION # 34
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: C
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 # 35
According to Porter's value chain, which of the following activities is categorised as support activity?
Answer: B
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 Graphical user interface, diagram Description automatically generated
Support activities (also known as secondary activities) include Firm infrastructure, Human resource management, Technology development and Procurement. Developing digital SRM technology to manage suppliers better is Technology development.
LO 1, AC 1.2
NEW QUESTION # 36
In 2016, ANA Airlines had to cancel some of its flight. The airline said it had discovered the cracks to the jet engine turbine blades. What should ANA procurement team do next to solve this problem?
Answer: B
Explanation:
Cracks on the jet engine is a closed-end problem. A typical problem solving process has 8 steps:
Step 1: Define the Problem
- What is the problem?
- How did you discover the problem?
- When did the problem start and how long has this problem been going on?
- Is there enough data available to contain the problem and prevent it from getting passed to the next process step? If yes, contain the problem.
Step 2: Clarify the Problem
- What data is available or needed to help clarify, or fully understand the problem?
- Is it a top priority to resolve the problem at this point in time?
- Are additional resources required to clarify the problem? If yes, elevate the problem to your leader to help locate the right resources and form a team.
- Consider a Lean Event (Do-it, Burst, RPI, Project).
- Ensure the problem is contained and does not get passed to the next process step.
Step 3: Define the Goals
- What is your end goal or desired future state?
- What will you accomplish if you fix this problem?
- What is the desired timeline for solving this problem?
Step 4: Identify Root Cause of the Problem
- Identify possible causes of the problem.
- Prioritize possible root causes of the problem.
- What information or data is there to validate the root cause?
Step 5: Develop Action Plan
- Generate a list of actions required to address the root cause and prevent problem from getting to others.
- Assign an owner and timeline to each action.
- Status actions to ensure completion.
Step 6: Execute Action Plan
- Implement action plan to address the root cause.
- Verify actions are completed.
Step 7: Evaluate the Results
- Monitor and Collect Data.
- Did you meet your goals defined in step 3? If not, repeate th 8-Step Process.
- Were there any unforeseen consequences?
- If problem is resolved, remove activities that were added previously to contain the problem.
Step 8: Continuously Improve
- Look for additional opportunities to implement solution.
- Ensure problem will not come back and communicate lessons learned.
- If needed, repeat the 8-Step Problem Solving Process to drive further improvements.
ANA has already known what is going on, the next step they should adopt is collecting more infor-mation on the problem. If the airline is hurry to the solution, it may choose 'Generate options ad-dressing the issue'. The crack on turbine blade can be welded, or the airline replaces a new blade. However, jumping to solution without knowing the root cause does not completely solve the prob-lem. The root cause is unaddressed, then it may occur in the future. Therefore, the airline should still collect information to find the root cause, then remove it.
Reference:
LO 1, AC 1.1
NEW QUESTION # 37
A food manufacturer wants to predict the pricing point for a new and innovative health drink. Which method of market research would be beneficial to receive the most accurate information?
Answer: A
Explanation:
Detailed Explanation:
Consumer data provides specific, measurable insights into purchasing behavior, preferences, and willingness to pay. This is the most accurate method for setting a pricing strategy, as it uses real-world data rather than subjective opinions or generic trends. Reference: CIPS Level 4, Market Research Techniques.
NEW QUESTION # 38
According to Porter's value chain, which of the following activities is categorised as support activity?
Answer: B
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 Graphical user interface, diagram Description automatically generated
Support activities (also known as secondary activities) include Firm infrastructure, Human resource management, Technology development and Procurement. Developing digital SRM technology to manage suppliers better is Technology development.
LO 1, AC 1.2
NEW QUESTION # 39
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