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CIPS L4M2 Exam Syllabus Topics:

SectionObjectives
Understand market management in procurement and supply- Compare the competitive forces that influence markets
  • 1. Bargaining strength of suppliers and buyers
  • 2. Availability of substitutes and threat of new entrants
- Contrast direct costs and indirect costs
  • 1. Sources of information to estimate costs and prices
Understand the use of specifications in procurement and supply
Understand how to develop a business case for requirements to be sourced from external suppliers- Analyse how market factors affect procurement

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Hot Latest L4M2 Learning Materials Pass Certify | Efficient Test L4M2 Guide: Defining Business Needs

Our Defining Business Needs (L4M2) exam dumps give help to give you an idea about the actual Defining Business Needs (L4M2) exam. You can attempt multiple Defining Business Needs (L4M2) exam questions on the software to improve your performance. You have the option to change the topic and set the time according to the actual CIPS L4M2 Exam.

CIPS Defining Business Needs Sample Questions (Q129-Q134):

NEW QUESTION # 129
Why is the specification considered as the most important document in procurement?

Answer: A

Explanation:
Specification is the most important document in procurement because it sets out the quality which supplier must provide. If there is no spec or the spec lacks clarity and details, supplier's perfor-mance may vary and possibly lower than actual requirements. This puts the buyer at risks. On the other hand, if the spec is clear and detailed, the supplier is liable to provide 'fit for purpose' products or perform the service at required level of quality. This will ensure that the buyer achieve 'Right Quality'.


NEW QUESTION # 130
According to Porter's value chain, which of the following activities is categorised as support activity?

Answer: A

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 # 131
Category buyer Raheem has been tasked with receiving innovative bids from coaching and development service providers. How can he achieve this? Select TWO that apply.

Answer: A,C

Explanation:
Detailed Explanation:
* A (Early supplier involvement): Engaging suppliers early fosters innovation by leveraging their expertise in developing solutions.
* D (Outcome-based specification): Focusing on outcomes rather than rigid inputs encourages creative and flexible proposals.Conformance specifications (C) restrict innovation, and standards (E) limit supplier flexibility. Reference: CIPS Level 4, Innovation in Procurement Specifications.


NEW QUESTION # 132
Apple's CPO is planning a budget for purchasing carbon-free aluminium next year. There are 27.4 tonnes of aluminum in stock, while Apple will need 200 tonnes for production next year and double inventory for production in the following year. How much aluminum will Apple need to purchase in next year?

Answer: D

Explanation:
The quantity of aluminium Apple needs to buy is calculated as follows:
Quantity needed for production + the inventory needed at the end of the year - inventory at start of the year That formula is quantified as: 200 + 54.8 - 27.4 = 227.4


NEW QUESTION # 133
Which of the following might be the consequences of under-specification? Select TWO that apply:

Answer: A,D

Explanation:
Main risks involved in an under-specified requirement
* The product or service is not fit for use since it does not match the actual needs
* Higher cost due to corrections or reworks (proposal evaluations, scope or work monitoring, change in insulation materials or systems, reduced productivity, etc.).
* Higher operating cost on many fronts: process control, energy consumption, maintenance, etc.
* Other problems like corrosion under insulation, mold development, safety-related concerns, etc.
LO 3, AC 3.3


NEW QUESTION # 134
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CIPS L4M2 certification exams play a significant role to verify skills, experience, and knowledge in a specific technology. Enrollment in the Defining Business Needs L4M2 is open to everyone. Participants in the Defining Business Needs L4M2 come from all over the world and receive the credentials for the CIPS L4M2. They can quickly advance their careers in the fiercely competitive market and benefit from certification after earning the Defining Business Needs L4M2 badge.

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