100% PASS CIPS - L4M2 THE BEST VALID EXAM NOTES

100% Pass CIPS - L4M2 The Best Valid Exam Notes

100% Pass CIPS - L4M2 The Best Valid Exam Notes

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Tags: L4M2 Valid Exam Notes, L4M2 Pdf Demo Download, Premium L4M2 Exam, Latest L4M2 Exam Questions Vce, L4M2 Dumps Torrent

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CIPS L4M2 (Defining Business Needs) Exam is a globally recognized certification exam offered by the Chartered Institute of Procurement and Supply (CIPS). It is designed to test the knowledge and skills of procurement professionals in identifying and defining business needs in order to develop effective procurement strategies. L4M2 Exam is suitable for procurement professionals who are involved in the procurement process from the initial stages of identifying business needs to the final stages of contract management.

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L4M2 Valid Exam Notes | 100% Free Pass-Sure Defining Business Needs Pdf Demo Download

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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.

CIPS Defining Business Needs Sample Questions (Q234-Q239):

NEW QUESTION # 234
A company has a lists of items that make up 15% of total spend. These items also do not largely impact on quality of final product. The supply continuity is secured. Which of the following will be the most appropriate managing approach to purchase these items?

  • A. Build partnership with suppliers
  • B. Simplify procurement process
  • C. Drive down cost based on market competition
  • D. Enhance supply continuity

Answer: B

Explanation:

Those items make up small portion of spend and the supply risk is low. So it is tactical item according to Kraljic portfolio matrix. Procurement should bundle these items into larger contracts, simplify procurement process.
LO 2, AC 2.1


NEW QUESTION # 235
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

  • A. Increasing revenue
  • B. More inventory
  • C. Depreciation of fixed asset
  • D. Customers agree to pay immediately
  • E. Supplier shortens their payment period

Answer: B,E

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-your-cash-trapped-in-the-cash-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 # 236
Lider Ltd is a leading bathroom furniture manufacturer in India. The company has more than 30 years experience in the market with extended knowledge of engineering and customers' taste. Lider is planning to launch a new type of bath fitting next year which offers Bluetooth connectivity and thermostat display. The company gathers a team of multi-disciplines, including engineering, procurement, sales and marketing. At the first team meeting, the project leader tells the team to discuss which functions will be valued by the customers, and how to deliver those functions with the lowest costs possible. Which of the following describes the process that the project team is undertaking?

  • A. Value engineering
  • B. Standardisation
  • C. Just in time
  • D. Cost analysis

Answer: A

Explanation:
From the scenario, you can see that the project team is developing a new product. They start with analysing the functions, and the costs of delivering those functions. This is a typical process of value engineering. You may read more on value engineering from the reference paper.


NEW QUESTION # 237
When preparing through-life specification, which of the following requirements should procure-ment team define besides the physical asset? Select TWO that apply.

  • A. Market analysis
  • B. Customer service
  • C. Logistics and installation
  • D. Objectives
  • E. Available substitute

Answer: B,C

Explanation:
Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer.
Diagram, table Description automatically generated

Source: Andrew Graves
With through-life management, buyer not only cares about the physical asset but also other factors like customer services and maintenance.


NEW QUESTION # 238
Which of the following is a challenge of making a business case for straight re-buys?

  • A. Terms and conditions
  • B. Research of procurement process
  • C. Effective inventory control
  • D. Identifying suitable suppliers

Answer: C

Explanation:
For straight re-buy, the specifications for the products are known. Generally, there will be an existing contract with supplier in place. The business need is challenged annually, only on the annual demand. So effective inventory control will help procurement successfully manage straight re-buy.
Reference:
LO 1, AC 1.1


NEW QUESTION # 239
......

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