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CIPS Authentic L4M2 Exam Questions: Defining Business Needs & Latest CIPS Certification Training
Pass4sureCert online digital CIPS L4M2 exam questions are the best way to prepare. Using our Defining Business Needs (L4M2) exam dumps, you will not have to worry about whatever topics you need to master. To practice for a CIPS L4M2 Certification Exam in the software (free test), you should perform a self-assessment. The CIPS L4M2 practice test software keeps track of each previous attempt and highlights the improvements with each attempt.
CIPS L4M2 Exam is suitable for candidates who have some experience in the procurement field, and who wish to enhance their knowledge and skills in defining business needs. Candidates who successfully pass L4M2 exam will be able to demonstrate a thorough understanding of the procurement process, as well as an ability to identify and define the business requirements to ensure that procurement activities are aligned with organizational goals. Defining Business Needs certification will help individuals to stand out in the competitive job market and will provide them with extensive knowledge required to define business needs.
CIPS Defining Business Needs Sample Questions (Q114-Q119):
NEW QUESTION # 114
A company is building a new two-storey office block and will need to purchase new desks and chairs. There will not be much space available. What should be included in the specification for these desks and chairs?
Answer: C
NEW QUESTION # 115
Which type of specification is less time-consuming to develop?
Answer: C
Explanation:
There are two major types of specification: conformance and performance specifications. They have the following characteristics:
Table Description automatically generated
Since performance specification is often a list of outputs or outcomes, it usually takes less time to develop than conformance specification.
NEW QUESTION # 116
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: A
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 # 117
Which of the following would a buyer include when issuing an output specification to suppliers?
Answer: A
Explanation:
Detailed Explanation:An output specification defines the desired outcome or result of the procurement rather than specifying how the result should be achieved. A requirements brief outlines the goals, leaving flexibility for the supplier to propose solutions. Reference: CIPS Level 4, Output Specifications in Procurement.
NEW QUESTION # 118
Buyers can ascertain the prices by examining information provided by primary and secondary sources of market data. Which of the following is a secondary source of market data?
Answer: B
Explanation:
Detailed Explanation:Price comparison websites are secondary sources as they aggregate data collected from multiple suppliers. Primary sources (like RFQs and brochures) come directly from the supplier.
Reference: CIPS Level 4, Market Data Analysis.
NEW QUESTION # 119
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