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Pass L4M2 Guide & Test L4M2 Sample Questions

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Procurement professionals who pass the CIPS L4M2 certification exam demonstrate a deep understanding of the principles and practices of defining business needs. Defining Business Needs certification is ideal for professionals who are involved in procurement strategy development, supplier selection, and contract management. The CIPS L4M2 Certification Exam is recognized internationally and is highly valued by employers in the procurement and supply chain industry.

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CIPS Defining Business Needs Sample Questions (Q101-Q106):

NEW QUESTION # 101
Which of the following is the disadvantage of embedding standards in a specification?

A. Standards are too flexible and may cause ambiguity in the specification
B. Standards do not improving buyer's bargaining power
C. Embedding standards into specification requires enormous time and effort
D. Standards are too static and discourage innovation

Answer: D

Explanation:
"Standards are often produced by professional bodies (maybe national or international bodies). Standards tend to be stable for a period of time, therefore, they are likely to be static and discourage innovation." Reference:
LO 3, AC 3.1

NEW QUESTION # 102
Which of the following problems may be identified as closed problems? Select TWO that apply:

A. The suppliers don't comply with the company's policy on underage labour.
B. There are not enough data for procurement analytics
C. Logistics costs incur a large portion in wholesale prices
D. A cyber attack takes down whole company's IT system
E. Shortage of key medicines in healthcare industry

Answer: D,E

Explanation:
Closed problem is something happens that should not have happened. To solve this type of prob-lem, procurement professional should find a way to correct the situation or try to adapt to it. On the other hand, open ended problem is a obstacle to your short-term objective. You will need to overcome this obstacle.
Shortage of key medicines is a situation in which procurement must find a substitution or try to save the current stock.
In case of cyber attack, procurement should find a way to recover the IT system as soon as possible.
Otherwise, 'There are not enough data for procurement analytics' is an open-ended problem be-cause it prevents company to conduct procurement analytics (an objective).
'Logistics costs incur a large portion in wholesale prices': In this situation, logistics costs are hur-dles that prevent companies to reach lower wholesale.
'The suppliers don't comply with the company's policy on underage labour': In this situation, pro-curement should seek ways to help supplier comply with the company's labour policy.
LO 1, AC 1.1

NEW QUESTION # 103
A drawing is an example of...?

A. Statements of work
B. Output specifications
C. Technical specifications
D. Outcome specifications

Answer: C

Explanation:
A technical specification details the standards that a product or service must meet. Drawings (often called engineering drawings or technical drawings) are complementary to technical specifications

NEW QUESTION # 104
To strengthen its market presence, ABC Group decided to develop a new product. A cross-functional team was formed to discuss the scope and the functions of the product. They will also survey the potential customers to see what they like, what they love, and what they dislike. What is this process called?

A. Cash flow analysis
B. Value engineering
C. Product standardisation
D. Value analysis

Answer: B

Explanation:
As you can see from the scenario, ABC Group is developing the new product. It might be using value engineering. The latter sentences confirm this: the cross-functional team in ABC is mapping the functions and surveying the customers. Their method is known as Kano model.

NEW QUESTION # 105
Which of the following roles are relevant to a 'services' market?
* A data researcher
* A warehouse manager
* A marketing consultant
* A logistics director

A. 1 and 3 only
B. 2 and 3 only
C. 1 and 2 only
D. 3 and 4 only

Answer: A

Explanation:
Detailed Explanation:Roles such as a data researcher and marketing consultant are directly tied to the provision of services, which are intangible and often knowledge-driven. Warehouse managers and logistics directors are more relevant to goods markets. Reference: CIPS Level 4, Services Procurement.

NEW QUESTION # 106
......

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