CIPS L4M2 Mock Exam & L4M2 Free Test Questions

Our L4M2 study questions will update frequently to guarantee that you can get enough test banks and follow the trend in the theory and the practice. That is to say, our product boosts many advantages and to gain a better understanding of our Defining Business Needs guide torrent. It is very worthy for you to buy our product and please trust us. If you still can’t fully believe us, please read the introduction of the features and the functions of our product as follow.

CIPS L4M2 (Defining Business Needs) Certification Exam is a globally recognized certification for professionals who wish to specialize in business analysis. Defining Business Needs certification is designed to provide candidates with the necessary skills and knowledge to define and analyze business needs, develop business cases, and provide solutions to business problems. Defining Business Needs certification is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a leading professional body for procurement and supply chain management.

>> CIPS L4M2 Mock Exam <<

CIPS L4M2 Online Practice Test

PrepAwayTest is benefiting more and more candidates for our excellent L4M2 exam torrent which is compiled by the professional experts accurately and skillfully. We are called the best friend on the way with our customers to help pass their L4M2 exam and help achieve their dreaming certification. The reason is that we not only provide our customers with valid and Reliable L4M2 Exam Materials, but also offer best service online since we uphold the professional ethical. So you can feel relax to have our L4M2 exam guide for we are a company with credibility.

The qualification is globally recognized, and it is a great benefit for students to earn as they will gain an understanding of how business requirements can be articulated and documented, leading to better contract management, tendering, and evaluation processes. The CIPS L4M2 exam is a fundamental part of the CIPS professional certification program and it offers a solid foundation that will enable aspiring professionals to further advance their career in procurement and supply chain management. The CIPS L4M2 Exam will equip individuals with essential skills and knowledge that will enable them to effectively analyze business requirements, and develop an effective procurement strategy to meet those requirements.

CIPS Defining Business Needs Sample Questions (Q221-Q226):

NEW QUESTION # 221
What issue is a buyer most likely to experience if the technical specification sent to suppliers as part of a Request For Quotation (RFQ) is insufficient?

A. The buyer will receive quotes at different times from suppliers, which will require greater coordination with other members of the sourcing team
B. The buyer will receive costs from suppliers in different formats, which will make it difficult to compare costs on a like-for-like basis
C. The buyer will not be able to compare different suppliers' costs directly as the suppliers will have had to make assumptions on the specification
D. The buyer will need to work with their finance colleagues and business stakeholders to adjust the budget available for the project

Answer: C

NEW QUESTION # 222
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?

A. Internal audit
B. Site visit
C. Internal benchmarking
D. Competitive benchmarking

Answer: C

Explanation:
Basically, IKEA project team is undertaking the following process:

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 # 223
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. $75
B. $150
C. $300
D. $450

Answer: B

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.
Reference:
- Life Cycle Cost Guidelines (dlgsc.wa.gov.au)
- CIPS study guide page 36-40
LO 1, AC 1.2

NEW QUESTION # 224
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, market analysis will inform the company of the pricing as well as latest technology trends
B. No, the company assesses supplier's performance solely based on market analysis
C. Yes, the company has extensive experience in purchasing tractor
D. Yes, Leanne just needs to purchase the tractor from her friend's company

Answer: A

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.

NEW QUESTION # 225
Which of the following are typically included in a conformance specification? Select TWO that apply.

A. Packaging requirements
B. List of outcome
C. Brand name
D. Product dimensions
E. Product functions

Answer: A,D

Explanation:
A conformance specification is a specification that defines the technical and physical characteristics and/or measurements of a product, such as physical aspects (e.g. dimensions, colour, and surface finish), design details, material properties, energy requirements, processes, maintenance requirements and operational requirements.
On the other hand, performance specification typically includes list of output or outcome or func-tional requirements. Brand name can be a part of performance specification because brand is a re-minder of quality that customers remember. For example, when talking about Roll Royce, people will think about an elegant car.

NEW QUESTION # 226
......

L4M2 Free Test Questions: https://www.prepawaytest.com/CIPS/L4M2-practice-exam-dumps.html

Chris Fisher Chris Fisher

Biography

CIPS L4M2 Mock Exam & L4M2 Free Test Questions

CIPS L4M2 Online Practice Test

CIPS Defining Business Needs Sample Questions (Q221-Q226):

Useful Links

Courses

Call EduCerts 24x7

+91 7011 899 514

+1 718-532-4376

Chris Fisher Chris Fisher

Biography

CIPS L4M2 Mock Exam & L4M2 Free Test Questions

CIPS L4M2 Online Practice Test

CIPS Defining Business Needs Sample Questions (Q221-Q226):

Useful Links

Courses

Sign in

Sign up