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L4M2 Exam Certification, L4M2 Reliable Study Plan

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You have to put in some extra effort, time, and investment and prepare well to pass this milestone. Do you have a plan to get success in the CIPS L4M2 certification exam? Are you looking for the right study material that ensures your success in the CramPDF new real CIPS L4M2 Exam Questions on your first attempt? If your answer is yes then you just need to get help from CramPDF practice exam questions.

CIPS L4M2 Exam consists of a 2-hour paper-based exam that contains 60 multiple-choice questions. L4M2 exam is designed to test the candidate's knowledge and understanding of the course content. Candidates who successfully complete the exam will be awarded with the CIPS Level 4 Diploma in Procurement and Supply, which is internationally recognized as a benchmark of excellence in procurement.

The Level 4 Diploma in Procurement and Supply consists of eight units, and one of these units is Defining Business Needs (L4M2). This unit is designed to equip learners with the knowledge and skills required to identify and evaluate business needs, assess the feasibility of solutions, and develop business cases to support decision-making.

CIPS Level 4M2 Defining Business Needs module is crucial for professionals who are looking to progress in their procurement and supply careers. This module provides learners with the skills and knowledge needed to identify and analyze organizational needs, which is a key competency for any procurement professional. By taking this module, learners will be able to demonstrate their expertise in procurement and supply chain management.

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CIPS Defining Business Needs Sample Questions (Q137-Q142):

NEW QUESTION # 137
A procurement organisation is keen to encourage innovation available within the supply market in the execution of an upcoming significant contract opportunity. A team member suggests that the specification should define the performance indicators so that supplier's solution can be checked against them. Which of the following will enable the organisation to achieve this goal?

A. Applying a precise performance framework
B. Using an output focused specification
C. Using an outcome focused specification
D. Establishing transparent selection criteria

Answer: B

Explanation:
The buying organisation is keen to encourage innovation so they should use the outcome or output based specification. In an outcome-based specification, umbrella statements like 'good quality', 'ambient temperature', 'convenient way' are often used. This may confuse the suppliers, and it's hard to check the solution that supplier offers. On the other hand, ouput-based specifications often include measurable requirements. For example, a specification for air conditioning system states that the system should maintain the room temperature at 19-24 degrees Celsius. Therefore, output specification is more appropriate in this case.

NEW QUESTION # 138
Thani Ltd is a fast growing logistics company with a fleet of 20 tractors. To meet Net Zero objec-tive, the company needs to electrify its fleet. Angelica is assigned to investigate the market price of electrifying services. After the investigation, she realises that the current market price is very expensive and unsustainable for her company. She decides to break down the costs before negotiating with the suppliers. Which internal stakeholders may help Angelica estimate the breakdown of costs? Select TWO that apply.

A. Engineering department
B. Sales and Marketing department
C. Commercial agency
D. Finance department
E. Suppliers

Answer: A,D

Explanation:
Despite of its importance, cost analysis is often a daunting task for procurement professionals. In order to analyse supplier's costs effectively, procurement may need the input from other depart-ments. Normally, technical (or engineering) department may help them to identify the direct costs of the product/service (how much material is required to make the product, or how many people are needed to perform the job, etc), while finance (or accounting) department may have ideas on the overheads of the supplier.
In this scenario, engineering department may provide insights on the components needed and the tasks to perform. Similarly, finance may know how much supplier pays for the overheads.
On the other hand, while commercial agency and suppliers are external stakeholders, Sales and marketing is unlikely to provide valuable information in this case.

NEW QUESTION # 139
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?

A. No, the company assesses supplier's performance solely based on market analysis
B. Yes, the company has extensive experience in purchasing tractor
C. Yes, Leanne just needs to purchase the tractor from her friend's company
D. No, market analysis will inform the company of the pricing as well as latest technology trends

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 # 140
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?

A. No, the company assesses supplier's performance solely based on market analysis
B. Yes, the company has extensive experience in purchasing tractor
C. Yes, Leanne just needs to purchase the tractor from her friend's company
D. No, market analysis will inform the company of the pricing as well as latest technology trends

Answer: D

NEW QUESTION # 141
Due to increasing demand, a local restaurant is requesting its fish vendor to supply larger quantity. The restaurant manager also asks the vendor whether it is possible to reduce the total price by 5%. This is known as...?

A. Straight rebuy
B. Modified rebuy
C. New purchase
D. Capital purchase

Answer: B

Explanation:
There are three major types of buying situations, which are new purchase, modified rebuy and straight rebuy.
Three factors make the buying situations be different from the others, customers may face different problems in these situations.
A new purchase is a situation requiring the purchase of a product for the very first time.
A straight rebuy is when a company places a second order with a supplier that is identical to the first purchase it made.
A modified rebuy is when a company orders again from a supplier, but wants to change some as-pect of the order, such as the quantity, packaging, product features, or delivery times. The scenario above is an example of modified rebuy.
Reference:
- What is a straight rebuy example?
- CIPS study guide page 3-4

NEW QUESTION # 142
......

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