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The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that offers training and certification programs for procurement and supply chain professionals. One of the most important certifications offered by CIPS is the Level 4 Diploma in Procurement and Supply. This diploma is designed for professionals who want to advance their careers in procurement and supply chain management. The Level 4 Diploma consists of five modules, and one of these modules is Defining Business Needs.

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CIPS L4M2 exam is divided into two parts, A and B. Part A consists of 15 multiple-choice questions that test the candidate’s knowledge of procurement and supply chain management concepts, principles, and practices. Part B is a case study where candidates are required to analyze a real-life scenario and provide recommendations on how to address the business needs of the organization. This case study is designed to test the candidate’s ability to apply their knowledge and skills to practical situations.

CIPS L4M2 Exam is designed for individuals who have experience in business analysis or related fields. It is also suitable for those who wish to develop their skills and knowledge in this area. L4M2 exam is ideal for those who wish to enhance their career prospects by demonstrating their expertise in defining business needs. It is also valuable for organizations that wish to ensure that their business analysis professionals have the necessary skills and knowledge to effectively define business needs.

CIPS Defining Business Needs Sample Questions (Q113-Q118):

NEW QUESTION # 113
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?

A. Site visit
B. Internal benchmarking
C. Internal audit
D. Competitive benchmarking

Answer: B

Explanation:
Basically, IKEA project team is undertaking the following process:
A picture containing text, businesscard Description automatically generated

This is a typical benchmarking process. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
In the scenario, benchmarking process is undertaken within subsidiaries of IKEA, thus it is internal.

NEW QUESTION # 114
EV Inc is facing the following challenges:
1. The capital investment is enormous.
2. Most of company's working capital is in form of inventories, which include raw materials, work-in-progress and finished goods.
3. Competitors are increasingly deploying robotics and automation to boost productivity.
Which of the below business sectors does EV Inc belong to?

A. Construction
B. Manufacturing
C. Financial services
D. Retails

Answer: B

Explanation:
Every sector among the options requires intensive capital investment. However, only manufacturing and retails bury much of their working capital in form of inventory. Raw materials and WIP only present in manufacturing sector.
The manufacturing industry is undergoing massive change, rivaling the Industrial Revolution that began in England and continued on Detroit's assembly lines. But today's revolution is "smart," thanks to factories using artificial intelligence and robots.
A new trend is the "cobot" - a collaborative robot designed to work with humans. One company called Moduform uses them to make furniture in the U.S. The company credits using cobots for reducing their staffing turnover, since the robots do mundane repetitive tasks that bore humans, while people can now do cognitive tasks requiring judgment and diversified responsibilities. Other innovations include 3D printing, Artificial Intelligence and automation.
Today's artificial intelligence manufacturing revolution improves performance in two key areas of manufacturing: productivity and quality control.
Reference:
- The Key Characteristics of Manufacturing (bizfluent.com)
- CIPS study guide page 74-76
LO 2, AC 2.1

NEW QUESTION # 115
When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?

A. Installation
B. Customer support
C. Manufacture
D. Maintenance and repair activities

Answer: A

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.

Source: Andrew Graves
The installation stage occurs in In-Service Operations. At this stage, the machinery is shipped and installed on the buyer's premises and check to ensure that it is working to the standards set out in the design specification.
Reference:
LO 3, AC 3.2

NEW QUESTION # 116
A procurement manager is discussing with other stakeholders about the scope and the implementation of the upcoming construction project. A stakeholder argues that the construction projects are often risky as the overall scope of the work can't be accurately estimated from the beginning. Furthermore, the project spans over a long period, the costs of materials can fluctuate widely. The procurement manager suggests that the pricing structure should be able to cover the supplier's costs plus 10% markup on total costs. This arrangement is known as...?

A. Cost-plus Fixed percentage
B. Cost-plus incentive fee contracts
C. Cost-plus award fee
D. Cost-plus fixed-fee

Answer: A

Explanation:
As you can see from the scenario, the procurement manager is suggesting to use cost plus pricing arrangement.
A cost-plus contract is an agreement to reimburse a company for expenses incurred plus a specific amount of profit, usually stated as a percentage of the contract's full price. These type of contracts are primarily used in construction where the buyer assumes some of the risk but also provides a degree of flexibility to the contractor.
Cost-plus contracts can be separated into four categories. They each allow for the reimbursement of costs as well as an additional amount for profit:
1. Cost-plus award fee contracts allow the contractor to be awarded a fee usually for good per-formance.
2. Cost-plus fixed-fee contracts cover both direct and indirect costs, in addition to a fixed fee.
3. Cost-plus incentive fee contracts happen when the contractor is given a fee if his or her perfor-mance meets or exceeds expectations.
4. Cost-plus percent-of-cost contracts allow the amount of reimbursement to rise if the contrac-tor's costs rise.
In the scenario, the procurement manager suggests a pricing structure that covers supplier's costs and adds
10% markup. This is cost-plus fixed-percentage.

NEW QUESTION # 117
Which of the following are potential advantages of using a product performance specification?
* It reduces the need for the buyer to produce a detailed design
* It can widen the potential supply base
* The buyer can specify the product's actual design in detail
* Products are provided using the buyer's methodology

A. 1 and 4
B. 2 and 3
C. 1 and 2
D. 3 and 4

Answer: C

Explanation:
Detailed Explanation:
* 1 (Reduces design need): Performance specifications focus on outcomes rather than detailed designs, saving buyer resources.
* 2 (Wider supply base): Allowing suppliers to propose their own solutions can attract a broader range of suppliers.Options 3 and 4 align with conformance specifications, not performance-based ones.
Reference: CIPS Level 4, Specification Writing.

NEW QUESTION # 118
......

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2025 Reliable L4M2–100% Free Free Vce Dumps | Defining Business Needs Test Centres

CIPS L4M2 Test Centres - Valid Dumps L4M2 Pdf

CIPS Defining Business Needs Sample Questions (Q113-Q118):