L4M2 CERTIFICATION EXAM DUMPS, TEST L4M2 COLLECTION PDF

L4M2 Certification Exam Dumps, Test L4M2 Collection Pdf

L4M2 Certification Exam Dumps, Test L4M2 Collection Pdf

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Tags: L4M2 Certification Exam Dumps, Test L4M2 Collection Pdf, Intereactive L4M2 Testing Engine, Latest L4M2 Dumps Free, Valid L4M2 Test Cost

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Preparing for the L4M2 exam requires a significant amount of study and practice. CIPS offers a variety of study materials, including textbooks, e-learning modules, and practice exams. Candidates should also seek out opportunities to gain practical experience in procurement and supply chain management, as this will help them to better understand the concepts covered in the exam.

CIPS Level 4M2 Defining Business Needs module is designed for procurement and supply professionals who are looking to enhance their skills in identifying and analyzing business needs. This module covers a range of topics, including stakeholder analysis, market analysis, and risk management. By taking this module, learners will be able to develop effective procurement strategies that meet the needs of their organization.

The CIPS L4M2 Exam covers a variety of topics, including the identification of business needs, the development of procurement strategies, and the implementation of procurement plans. It also covers the importance of stakeholder engagement and communication, as well as risk management and the monitoring and evaluation of procurement activities.

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CIPS Defining Business Needs Sample Questions (Q12-Q17):

NEW QUESTION # 12
Which of the following may allow suppliers free to choose the materials, manufacturing process or delivery process?

  • A. Conformance specification
  • B. Performance specification
  • C. Technical specifications
  • D. Design specification

Answer: B

Explanation:
The Performance Specifications define what the system being designed must do, and not how it must do it. In this step a list of needs and wants should be created. The needs are customer requirements, while the wants are engineering desires. If a buyer adopts performance specification, the supplier will be free to choose how to make and deliver the product.
A technical specification document outlines how you're going to address a technical problem by designing and building a solution for it.
A design specification is a detailed document providing a list of points regarding a product or pro-cess. For example, the design specification could include required dimensions, environmental fac-tors, ergonomic factors, aesthetic factors, maintenance that will be needed, etc. It may also give specific examples of how the design should be executed, helping others work properly (a guideline for what the person should do).
With conformance specification the buyer says what they want and how they want it and the supplier has to meet this Reference:
LO3, AC 3.1


NEW QUESTION # 13
When devising a business case for purchasing a new copier, Maria analyses its whole-life costs as following:

Though cost generating activities are identified, she has not categorised the costs. What is the total value of copier's end of life costs?

  • A. $300
  • B. $450
  • C. $75
  • D. $150

Answer: D

Explanation:
Life cycle costing is a key asset management tool that takes into account the whole of life implications of planning, acquiring, operating, maintaining and disposing of an asset.
The process is an evaluation method that considers all ownership and management costs. These include;
- Concept and definition;
- Design and development;
- Manufacturing and installation;
- Maintenance;
- Support services; and
- Retirement, remediation and disposal costs.
End of life costs often comprise of decommissioning, removing and disposal costs. In the copier scenario, the end of life costs equal to removal cost, which is $150.


NEW QUESTION # 14
Which of the following problems may be identified as open-ended problems? Select TWO that apply:

  • A. Shortage of key medicines in healthcare industry
  • B. Engine failures cause flight cancellations.
  • C. A cyber attack takes down whole company's IT system
  • D. Logistics costs incur a large portion in wholesale prices
  • E. The suppliers don't comply with the company's policy on underage labour.

Answer: D,E

Explanation:
Open-ended problem is something stopping the achievement of an objective or blocking progress. To solve this type of problems, procurement professional should find a way to unblock the block-age. In the above question, high logistics cost is an obstacle to cost cutting objective while suppli-er's incompliance prevents the company to achieve its sustainable objective.


NEW QUESTION # 15
A company has installed a new piece of capital equipment but needs to arrange a maintenance contract for three years. The company wants to know as accurately as possible what this price will be for the full contract. What would be an appropriate type of pricing mechanism to use when asking suppliers to quote prices?

  • A. Cost plus fixed fee
  • B. Fixed price
  • C. Fixed price with adjustment for inflation
  • D. Cost plus percentage fee

Answer: C

Explanation:
Detailed Explanation:A fixed price with adjustment for inflation provides cost predictability while accounting for potential increases due to inflation. This strikes a balance between fixed costs and market realities. Reference: CIPS Level 4, Pricing Strategies.


NEW QUESTION # 16
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.

  • A. Apply standards within the specification
  • B. Use a conformance-based specification
  • C. Invite a small group of suppliers
  • D. Apply early supplier involvement
  • E. Use an outcome-based specification

Answer: D,E

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 # 17
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