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CIPS L4M2 Exam covers a broad range of topics, including the identification of business requirements, the development of business cases, the analysis of data, and the creation of effective procurement strategies. L4M2 course is interactive and designed to provide learners with hands-on experience in real-world scenarios. This approach ensures that learners are equipped with the practical skills required to apply the knowledge gained in their workplace.
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CIPS L4M2 certification exam consists of multiple choice questions that test the candidate's understanding of various aspects of business analysis. Successful candidates will demonstrate their ability to identify and analyze business problems, develop effective solutions, and communicate these solutions to stakeholders in a clear and concise manner. Defining Business Needs certification is highly valued by employers and can help professionals advance their careers in the field of business analysis. The CIPS L4M2 Certification is an excellent way for professionals to demonstrate their expertise and commitment to their profession.
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.
NEW QUESTION # 302
Which of the following is the technology that disrupts traditional retail?
Answer: B
Explanation:
One of the biggest disruptors in retail has been e-commerce. According to a report by IDC, in the month of December 2018, which is also the holiday season in the west, the e-commerce sector globally, has grown by 20 percent.
LO 2, AC 2.2
NEW QUESTION # 303
Which of the following are typically included in a conformance specification? Select TWO that apply.
Answer: A,B
Explanation:
A conformance specification is a specification that defines the technical and physical characteristics and/or measurements of a product, such as physical aspects (e.g. dimensions, colour, and surface finish), design details, material properties, energy requirements, processes, maintenance requirements and operational requirements.
On the other hand, performance specification typically includes list of output or outcome or func-tional requirements. Brand name can be a part of performance specification because brand is a re-minder of quality that customers remember. For example, when talking about Roll Royce, people will think about an elegant car.
NEW QUESTION # 304
Ranjit is purchasing a large piece of laboratory equipment which is brand new to the market. Can this be classified as a straight re-buy?
Answer: D
Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) CIPS uses the classic buying situation model:
New buy - first time the item is purchased; high information need and perceived risk.
Straight re-buy - routine repurchase of a product that has been bought before and is well-known.
Modified re-buy - a repeat purchase with some changes (e.g. spec, price, supplier).
Here, the equipment is brand new to market, meaning:
It has not been purchased before by the organisation.
There is no previous sourcing history for this specific product, so it cannot be a straight re-buy.
Thus:
Option D is correct - it is not a straight re-buy because it has not been specified or sourced before.
Option A is incorrect - even if the supplier has been used before, the product is new.
Option B - there cannot be an "existing specification" for something new to the market; if there is, it would be a modified or straight re-buy, not a new product situation.
Option C - a standing purchase agreement would imply established purchasing arrangements: that contradicts
"brand new to market".
Relevant CIPS L4M2 areas:
Buying situations: new buy, straight re-buy, modified re-buy
Implications for information gathering, evaluation and risk
How new products affect sourcing and market management
NEW QUESTION # 305
Which of the following activities are considered as primary activities of an organization according to Porter's value chain? Select TWO that apply:
Answer: A,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
NEW QUESTION # 306
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?
Answer: D
Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
Reference: CIPS study guide page 63-71
LO 2, AC 2.1
NEW QUESTION # 307
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