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Exam L4M2 Study Solutions, New L4M2 Exam Dumps

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The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that provides training and certification in the field of procurement and supply chain management. One of the certifications offered by CIPS is the Level 4 Managing Procurement and Supply qualification. Within this qualification, one of the modules that professionals can take is Defining Business Needs (L4M2).

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CIPS L4M2 (Defining Business Needs) Certification Exam is designed to test the knowledge and skills of professionals who are involved in the process of defining business needs in an organization. L4M2 exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply, which is recognized globally as a leading qualification in the procurement and supply chain management field. The L4M2 Exam covers a wide range of topics, including stakeholder management, requirement gathering techniques, business analysis, and procurement strategies.

CIPS Defining Business Needs Sample Questions (Q238-Q243):

NEW QUESTION # 238
Which of the following might be consequences of over-specification? Select TWO that apply:

A. Higher cost due to inessential features
B. Better contract management
C. Limiting competition in supply market
D. Reducing motion waste
E. Lack of essential features

Answer: A,E

Explanation:
Over-specification can cause problems to buying organisation, include the following:
- Higher expense due to unnecessary features embedded into the product
- Stifle competition because higher requirements will lead to fewer suppliers in the market are able to supply
- Harder to evaluate the trade-offs between different features and attributes in the specification Reference:
LO 3, AC 3.3

NEW QUESTION # 239
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

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

Answer: B,C

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 # 240
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. Maintenance and repair activities
C. Customer support
D. Manufacture

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.
Diagram, table Description automatically generated

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.

NEW QUESTION # 241
What criteria can be applied in the production of a business case?

A. Questions, price, and evaluation
B. Plans, delivery, and design
C. Suggestions, feedback, and forecast
D. Costs, benefits, and options

Answer: D

Explanation:
Detailed Explanation:A strong business case includes a clear assessment of costs, the expected benefits, and the viable options available. These criteria ensure a structured approach to decision-making and alignment with strategic goals. Reference: CIPS Level 4, Business Case Development.

NEW QUESTION # 242
When preparing through-life specification, which of the following requirements should procure-ment team define besides the physical asset? Select TWO that apply.

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

Answer: B,C

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 # 243
......

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Frank Harris Frank Harris

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