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L4M2 Examcollection | The Best Defining Business Needs 100% Free Dump CollectionTrainingDump has designed Defining Business Needs which has actual exam Dumps questions, especially for the students who are willing to pass the CIPS L4M2 exam for the betterment of their future. The study material is available in three different formats. CIPS Practice Exam are also available so the students can test their preparation with unlimited tries and pass Defining Business Needs (L4M2) certification exam on the first try. CIPS Defining Business Needs Sample Questions (Q61-Q66):NEW QUESTION # 61
Which of the following will help the bargaining strength of a buyer?
* The buyer has the option to make the product in-house
* There are a limited number of suppliers available to the buyer
* The buyer's switching costs are high
* The buyer's spend is a high proportion of the supplier's revenue
A. 2 and 3 only
B. 1 and 4 only
C. 1 and 2 only
D. 2 and 4 only
Answer: B
Explanation:
Detailed Explanation:
* 1 (Make in-house): The ability to produce in-house reduces dependency on suppliers, strengthening buyer power.
* 4 (High spend proportion): A high proportion of spend gives buyers leverage over suppliers who are reliant on their revenue.Limited suppliers (2) and high switching costs (3) reduce buyer bargaining power. Reference: CIPS Level 4, Market Power Analysis.
NEW QUESTION # 62
Which of the following might be consequences of over-specification? Select TWO that apply:
A. Limiting competition in supply market
B. Better contract management
C. Reducing motion waste
D. Lack of essential features
E. Higher cost due to inessential features
Answer: D,E
Explanation:
Over-specification can cause problems to buying organisation, include the following:
- Higher expense due to unnecessary features embedded into the product
- Stifle competition because higher requirements will lead to fewer suppliers in the market are able to supply
- Harder to evaluate the trade-offs between different features and attributes in the specification Reference:
LO 3, AC 3.3
NEW QUESTION # 63
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply
A. Depreciation of fixed asset
B. Supplier shortens their payment period
C. Increasing revenue
D. More inventory
E. Customers agree to pay immediately
Answer: B,D
Explanation:
To answer this question, candidates are required to remember the cash flow cycle and cost entries as well as the impact of their timing on a business.
Diagram Description automatically generated
Source: https://cfoperspective.com/free- ... h-conversion-cycle/ Shorter payment term and more inventory are likely to have negative impact on the cash flow be-cause the buyer has to pay sooner and greater.
"Customers agree to pay immediately" will increase the organisation's bank account sooner.
Depreciation has no impact on cash flow as it is only listed in Profit and Loss statement.
Increasing revenue may have negative or positive impact on cash flow, depending on the real situation.
NEW QUESTION # 64
Dana is an automobile manufacturer. It has a new electrification strategy that aims at making eco-friendly electric pick-up trucks. To implement this strategy, the procurement department must source new categories of parts that make motors, sensors, solenoids and stators. He starts to analyse the market by identifying specific supply market segments for those parts and finding suppliers who have the best capabilities in those segment. He intends to segment the market based on specific features of the products. Which variable is used by Dana procurement manager to shape and manage supply market?
A. Buyer segments
B. Product segments
C. Geographical segments
D. Channel segments
Answer: B
Explanation:
In sales and marketing, market segmentation is the process of trying to understand clusters of cus-tomers in terms of their buying behavior and their buying characteristics. There are some traditional segmentation approaches: geography, demography, types of industry and the benefits. Then there are newer segmentation approaches: behavioral, situational, and psychographic.
Procurement professionals can learn market segmentation from sales and marketing. Segmenting the market can help them to shape and manage the supply market effectively. According to Michael Porter, a market can be segment with array of products and buyers.
Text Description automatically generated
Source: Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 234).
Free Press. Kindle Edition.
In the scenario, the products that Dana needs to source is distinct in their features. The best way is to segment the market by product varieties.
NEW QUESTION # 65
Which of the following technology is likely to be an innovation in financial sector?
A. Robotics
B. E-auction
C. Blockchain
D. E-commerce
Answer: C
Explanation:
Traditional financial systems operate with a centralised database, usually with a single point of authority.
Blockchain technology, on the other hand, allows for a distributed database that holds a growing number of records. Instead of existing in one place, the ledger is continually updated and synchronised across multiple computers in a network. Therefore, any participant in the network with the proper authorisation can view the entire ledger - without relying on an intermediary or any one authority.
Another key feature of blockchain technology is a "smart contract," which is a self-executing protocol that enforces a previously agreed arrangement. For example, a smart contract could trigger an automatic refund under certain conditions or the automatic payment of an agreed commission after a sale. These smart contracts can eliminate delays in traditional Finance processes, while increasing transparency and reducing reliance on middlemen to follow through on their commitments. Moreover, like other parts of a blockchain, smart contracts are immutable, so they can enhance accuracy in the financial statements.
LO 2, AC 2.1
NEW QUESTION # 66
......
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