Free PDF Quiz CIPS - L4M2 - Defining Business Needs–The Best Detailed Study Plan
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Upon successful completion of the CIPS L4M2 exam, candidates will be awarded 12 credits towards the CIPS Level 4 Diploma. This qualification is highly regarded in the procurement and supply chain management industry and can lead to a range of career opportunities. Candidates who pass the CIPS L4M2 exam will have demonstrated their ability to analyze business needs and make informed procurement decisions that contribute to the success of the business.
CIPS L4M2 Certification Exam is ideal for professionals who are involved in business analysis, procurement, and supply chain management. L4M2 exam covers a range of topics, including stakeholder management, business needs assessment, requirements gathering, and solution development. Candidates who successfully complete the exam will be able to identify and analyze business needs, develop business cases, and provide solutions that meet the needs of stakeholders.
The CIPS L4M2 Exam covers a variety of topics, including the identification of business needs, the development of procurement strategies, and the implementation of procurement plans. It also covers the importance of stakeholder engagement and communication, as well as risk management and the monitoring and evaluation of procurement activities.
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CIPS Defining Business Needs Sample Questions (Q136-Q141):
NEW QUESTION # 136
What are the main purposes of a cash flow budget?
1. It is a time-phased income and expenditure budget
2. It projects the future cash position of an organisation
3. It is a statement of a company's financial position
Answer: B
NEW QUESTION # 137
What are the direct risks that can result from procurement receiving inadequate specifications from a research and development department?
Answer: A
NEW QUESTION # 138
Which of the following factors should be assessed to understand the competitiveness of a supply market?
Answer: C
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Market Management) The number of suppliers and market concentration determine competitiveness.
A market with many suppliers tends to be more competitive; fewer suppliers increase supplier power and reduce price competition.
Hence, Option C correctly identifies a key factor in market competitiveness.
Relevant L4M2 references:
* Section: "Assessing supply market structures"
* Model: "Porter's Five Forces - Supplier Power"
NEW QUESTION # 139
Which of the following are the focuses of ISO 14001:2015?
Answer: A
Explanation:
ISO 14001:2015 specifies the requirements for an environmental management system that an or-ganization can use to enhance its environmental performance. ISO 14001:2015 is intended for use by an organization seeking to manage its environmental responsibilities in a systematic manner that contributes to the environmental pillar of sustainability.
ISO 14001:2015 helps an organization achieve the intended outcomes of its environmental man-agement system, which provide value for the environment, the organization itself and interested parties. Consistent with the organization's environmental policy, the intended outcomes of an environmental management system include:
* enhancement of environmental performance;
* fulfilment of compliance obligations;
* achievement of environmental objectives.
ISO 14001:2015 is applicable to any organization, regardless of size, type and nature, and applies to the environmental aspects of its activities, products and services that the organization determines it can either control or influence considering a life cycle perspective. ISO 14001:2015 does not state specific environmental performance criteria.
ISO 14001:2015 can be used in whole or in part to systematically improve environmental manage-ment.
Claims of conformity to ISO 14001:2015, however, are not acceptable unless all its require-ments are incorporated into an organization's environmental management system and fulfilled without exclusion.
In conclusion, ISO 14001:2015 focuses on: management system (including roles, leadership and processes) and the life cycle of product or service. Life cycle is defined as "consecutive and inter-linked stages of a product (or service) system, from raw material acquisition or generation from natural resources to final disposal. [...] The life cycle stages include acquisition of raw materials, design, production, transportation/ delivery, use, end-of-life treatment and final disposal." The answer is process and life cycle.
NEW QUESTION # 140
Which of the following is a challenge of making a business case for straight re-buys?
Answer: D
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 # 141
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