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The Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply is an internationally recognized qualification designed to enhance the skills and knowledge of professionals in procurement and supply chain management. One of the mandatory units within this diploma is L4M2 – Defining Business Needs. This unit is designed to provide procurement professionals with the skills and knowledge necessary to identify, analyze, and define business needs in a clear and concise manner.
CIPS L4M2 Exam covers a broad range of topics, including the identification of business requirements, the development of business cases, the analysis of data, and the creation of effective procurement strategies. L4M2 course is interactive and designed to provide learners with hands-on experience in real-world scenarios. This approach ensures that learners are equipped with the practical skills required to apply the knowledge gained in their workplace.
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NEW QUESTION # 212
A buying organisation may not have technical capability to produce a highly complex specification. Which of the following are sources of information that can be used to create the specification? Select TWO that apply
Answer: D,E
Explanation:
If an organisation doesn't have capability to produce a technical specification, they can draft one based on standards or consulting the suppliers.
Reference:
LO 3, AC 3.1
NEW QUESTION # 213
A buyer can use sources of information to review indirect costs associated with the manufacture of goods to support negotiations. Is this statement true?
Answer: A
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2: Cost Management) CIPS teaches that effective buyers conduct cost breakdowns that include both direct and indirect costs, using data from:
* Supplier financial reports,
* Benchmarking,
* Industry cost models.
Thus, buyers can analyse indirect costs (e.g. overheads, utilities, admin) to strengthen negotiation positions.
Relevant CIPS L4M2 Sections:
* Cost analysis and supplier price build-up
* Using cost data to negotiate value
NEW QUESTION # 214
A "modified re-buy" means ...
Answer: D
NEW QUESTION # 215
Jasmine identified a possible new supplier that offers commercial improvements in her category of spend. She decided to put forward a business case to justify the necessity for a new supplier assessment and audit with the aim of adding the supplier to the approved list. Jasmine decided to carry out a cost-benefits analysis. Is this the right approach for Jasmine to use?
Answer: C
NEW QUESTION # 216
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?
Answer: A
Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
Reference:
LO 2, AC 2.1
NEW QUESTION # 217
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