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[General] L4M2 Test Price | Valid Dumps L4M2 Ppt

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【General】 L4M2 Test Price | Valid Dumps L4M2 Ppt

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CIPS L4M2 exam is an excellent choice for procurement professionals who are looking to take their career to the next level. Whether you are looking to progress within your current organisation, or to explore new opportunities in the industry, this qualification will provide you with the knowledge and skills necessary to succeed. With its focus on defining business needs and developing effective procurement strategies, the CIPS L4M2 Exam is an essential qualification for anyone working in procurement and supply chain management.
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CIPS Defining Business Needs Sample Questions (Q25-Q30):NEW QUESTION # 25
Buyer power may make a supply market more competitive. Which of the following are examples of buyer power? Select TWO that apply.
  • A. High barriers of entry exist for new suppliers
  • B. Ability to easily switch suppliers
  • C. Availability of substitutes
  • D. Suppliers are limited m number
  • E. Collusion between competitor suppliers
Answer: B,C

NEW QUESTION # 26
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 # 27
A company is planning the procurement of an IT system and wants to agree a through-life contract with the supplier to ensure ongoing system support. The first step in producing that specification should be to:
  • A. Prepare tendering documents
  • B. Define the user requirements
  • C. Build a design
  • D. Identify the IT system supplier
Answer: B
Explanation:
Writing a high-quality specification is very crucial in every purchase. In through-life management, it is even more important since the assets often have very high value. Defining user requirement is the first step to write a specification. Without doing this right, many problems may arise in later stages.
Reference:
LO 3, AC 3.2

NEW QUESTION # 28
Robert is a buyer at Pickton's Farm Products (PFP), a manufacturer of food products that are sold to supermarkets. Robert will be sourcing from local farmers to supply PFP with raw materials for PFP's products. What is a major supply chain risk that Robert needs to be aware of which is specific to this market?
  • A. A supplier may deliver an incorrect quantity of materials to PFP, leading to PFP incurring storage charges
  • B. The quality of goods received by PFP may be of varying quality and need to be returned to the supplier for replacement
  • C. Suppliers to PFP may also supply other customers which they prioritise over PFP, leading to delays in PFP's production process
  • D. Extreme or unexpected weather conditions may affect the supplier's ability to supply PFP in line with quantity and timing requirements
Answer: D

NEW QUESTION # 29
Bob is a new procurement specialist at XYZ Ltd. He is assigned to categorise the company's sup-plies. After analysing, Bob realises that a group of low value products is sourced from a tiny geo-graphical area which is prone to flooding. What would be the best strategy to manage this category of products?
  • A. Form partnership relationship with the current supplier
  • B. Assign some of procurement jobs to user department
  • C. Find an alternative source to secure supply
  • D. Source this group of products from only one supplier
Answer: C
Explanation:
In the scenario, the products have low value and high risk of supply. This group is known as bottleneck or critical in Kraljic's portfolio matrix. The objective for such items would be securing the supply. The company can achieve this goal by 'making' the products themselves, or finding an alternative option.
Diagram Description automatically generated
Reference: CIPS study guide page 82-84
LO 2, AC 2.1

NEW QUESTION # 30
......
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