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[General] CIPS L4M2 100% Correct Answers & L4M2 Reliable Mock Test

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【General】 CIPS L4M2 100% Correct Answers & L4M2 Reliable Mock Test

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CIPS L4M2 certification exam is designed to test the knowledge and skills of individuals who are responsible for defining business needs and requirements. L4M2 exam covers a range of topics, including business analysis techniques, stakeholder management, requirements gathering and documentation, and business case development. L4M2 Exam is designed to ensure that individuals have a thorough understanding of how to identify, analyze, and document business needs in a way that is clear, concise, and accurate.
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CIPS Defining Business Needs Sample Questions (Q238-Q243):NEW QUESTION # 238
A procurement team is categorising their purchased items into four quadrants of Kraljic's supply chain portfolio matrix. They realise that there are some low-value items which come from very few suppliers in the market. The organisation is critically dependent on these suppliers. The team plans to reduce the dependence by finding alternative sources. Is this a right course of action?
  • A. No, there is no way to escape this dependency
  • B. No, the organisation should run competitive biddings to exploit the competition
  • C. Yes, the organisation needs to reduce the supply risks
  • D. Yes, this action will dramatically increase the supplier's bargaining power
Answer: C
Explanation:
According to Kraljic portfolio matrix, the low-value items with high supply risk are bottleneck items.

The purchasing strategy that is commonly recommended for these products is primarily based on acceptance of the dependence and reduction of the negative effects of the unfavourable position. An alternative strategy suggested by purchasing practitioners is to find other suppliers and move towards the non-critical quadrant.
- Accept dependence, reduce negative consequences: The main focus of this strategy is to assure supply, if necessary even at additional cost. Examples of this strategy are keeping extra stocks of the materials concerned or developing consigned stock agreements with suppliers. By performing a risk analysis firms can identify the most important bottleneck products and consider the implications. A possible action for dealing with unexpected bad dependence positions for certain products is to employ contingency planning.
- Reduce dependence and risk, find other solutions: This strategy is geared towards reducing the dependence on the supplier. The most common way to achieve this is to broaden the specifications of the product or to search for new suppliers.
The procurement team in the scenario has selected reducing dependency by finding alternatives. This is a right strategy for bottleneck item.
Reference:
- CIPS study guide page 82-84
- Purchasing strategies in the Kraljic matrix-A power and dependence perspective, Marjolein C.J. Caniels, Cees J. Gelderman LO 2, AC 2.1

NEW QUESTION # 239
The procurement team of an IT hardware manufacturer has been set a target by senior management to reduce the rates paid to the sole supplier of a new and innovative power-saving battery. Which action should the procurement team first consider?
  • A. Offering a framework agreement
  • B. Agreeing rebate thresholds
  • C. Offering economies of scale
  • D. Dual or multiple sourcing
Answer: D
Explanation:
Detailed Explanation:
Dual or multiple sourcing introduces competition, reducing the sole supplier's bargaining power and leading to cost reductions. Framework agreements (A) or economies of scale (D) may not address the immediate need to reduce rates. Reference: CIPS Level 4, Sourcing Strategies.

NEW QUESTION # 240
A consulting firm in London had previously had static budgets. They were set once and locked in for the year.
This resulted in departments meeting their budgets early and doing virtually nothing the rest of the accounting period. To address this imbalance, the company tossed out the static budget and developed a new one for each department of the next 18 months. And each month, real sales figures are analyzed against the plan and the budget is adjusted accordingly. Then the company adds another month into the budgeting plan. What type of budget this company is using?
  • A. Incremental budget
  • B. Rolling budget
  • C. Activity-based budget
  • D. Zero-based budget
Answer: B
Explanation:
A rolling budget is continually updated to add a new budget period as the most recent budget period is completed. Thus, the rolling budget involves the incremental extension of the existing budget model. By doing so, a business always has a budget that extends one year into the future.
Think of continuous (rolling) budgets as waves rolling ashore on the beach. A new wave comes in each time, replacing the one that was there before. From a financial perspective, the wave is your budget, and the time between waves is longer! These reporting time frames can be monthly, quar-terly, yearly, etc.
An incremental budget is a budget prepared using a previous period's budget or actual performance as a basis with incremental amounts added for the new budget period.
Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. The process of zero-based budgeting starts from a "zero base," and every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period, regardless of whether each budget is higher or lower than the previous one.
Activity-based budgeting (ABB) is a system that records, researches, and analyzes activities that lead to costs for a company. Every activity in an organization that incurs a cost is scrutinized for potential ways to create efficiencies. Budgets are then developed based on these results.

NEW QUESTION # 241
Which of the following statements is the best definition of 'value engineering?
  • A. Producing good value products right first time.
  • B. Building value into a new product from design stage onwards
  • C. Value achieved by an engineering department
  • D. Analysing perceived value after the product is available for sale
Answer: B
Explanation:
Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis.
This takes place before any capital is invested in tooling, plant or equipment.
This is very significant, because according to many reports, up to 80% of a product's costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is under-standable when you consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs.
LO 3, AC 3.4

NEW QUESTION # 242
Which of the following are primary sources of market data for costs and prices? Select TWO that apply.
  • A. Supplier marketing communications
  • B. Price comparison website
  • C. Published economic indices
  • D. Industry press
  • E. Trade fairs
Answer: A,E

NEW QUESTION # 243
......
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