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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.

The Defining Business Needs module is assessed through an exam that consists of 60 multiple-choice questions. L4M2 exam is designed to test the knowledge and skills acquired by professionals during the module. L4M2 exam is timed and must be completed within two hours. Professionals who successfully pass the exam will receive a certificate of completion from CIPS.

CIPS L4M2 (Defining Business Needs) Exam is an important certification for professionals who want to develop their skills in procurement and supply chain management. L4M2 exam is designed to test the ability of individuals to identify and define business needs, and to develop effective procurement strategies to meet those needs. L4M2 exam covers a range of topics, including the procurement process, stakeholder management, and risk management.

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Latest CIPS L4M2 Exam Materials - New L4M2 Test Objectives

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CIPS Defining Business Needs Sample Questions (Q264-Q269):

NEW QUESTION # 264
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating "good quality" in the specification will be enough for quality standard section. Is the procurement manager's thought appropriate?

Answer: D

Explanation:
Specifications for through-life contracts must be clear. They should use precise technical language and avoid any ambiguity as much as possible. In most cases, 'good quality' is ambiguous. The con-tractor doesn't know exactly which product the buying organisation needs and how to supply that product.
Other notices for description of requirement are:
- Short and simply description
- Clear definitions at the beginning of the documents
- Clarify abbreviations (if any), but abbreviations should be avoided as much as possible
- Avoid any 'slang'
- Use imperative forms of language whenever possible.
LO 3, AC 3.2


NEW QUESTION # 265
The bargaining strength of suppliers is likely to be high in which of the following situations? (Select TWO)

Answer: C,D

Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2: Supply Market Analysis) Supplier power is high when:
* Few suppliers exist relative to demand # less competition.
* Urgent demand gives suppliers leverage over buyers.
A and D would reduce supplier power; C (educated buyer) also weakens it.
Relevant CIPS L4M2 Sections:
* Porter's Five Forces - supplier power
* Market structure and urgency as power drivers


NEW QUESTION # 266
British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly.
Which of the following will be the most appropriate managing approach to procure these items?

Answer: A

Explanation:
The instrument plays a crucial role in steel manufacturing because it presents in the majority of products, in which case lacking this instrument would have significant impact on the organisation's output (production lines stop or damaging other machine). Otherwise, the risk of supply is high because there is limitation in supply. Therefore, it is considered as a strategic item in term of Kraljic's portfolio matrix. Procurement manager should form partnership with suppliers to maximise the value.
The following graph illustrates Kraljic's portfolio matrix:


NEW QUESTION # 267
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?

Answer: A

Explanation:
Basically, IKEA project team is undertaking the following process:
A picture containing text, businesscard Description automatically generated

This is a typical benchmarking process. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
In the scenario, benchmarking process is undertaken within subsidiaries of IKEA, thus it is internal.
Reference:
- CIPS study guide page 49-51
- What is Benchmarking? Technical & Competitive Benchmarking Process | ASQ
- Internal Benchmarking at IKEA
LO 1, AC 1.3


NEW QUESTION # 268
Jasmine identified a possible new supplier that offers commercial improvements in her category of spend. She decided to put forward a business case to justify the necessity for a new supplier assessment and audit with the aim of adding the supplier to the approved list. Jasmine decided to carry out a cost-benefits analysis. Is this the right approach for Jasmine to use?

Answer: C


NEW QUESTION # 269
......

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