Cips certkiller cips Level 4 Diploma In Procurement And Supply L4m2 Syllabus Exam Questions Answers by Alicia q14 vce pdf

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Exam Name:	Defining Business Needs
Exam Code:	L4M2 Dumps
Vendor:	CIPS	Certification:	CIPS Level 4 Diploma in Procurement and Supply
Questions:	303 Q&A's	Shared By:	alicia

Question 48

Which of the following factors should be assessed to understand the competitiveness of a supply market?

Options:

Presence of a minimum wage

Gross National Product of the country of manufacture

Number of suppliers within the market

Previous price paid for goods

Discussion

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Question 49

It could be argued that wherever possible, specifications should be more output and outcome focused. Why is this?

Options:

So that they can be amended easily after contract award

To allow as many suppliers as possible to respond

To reduce the number of options available

So that a specific branded product is provided

Discussion

Question 50

A procurement manager is helping to improve a specification for an existing product. They list all existing functions, processes, their costs, and the value they add. This exercise aims to support writing an improved specification for future purchasing. Which of the following is this an example of?

Options:

Value procurement

Value chain

Value analysis

Value engineering

Discussion

Question 51

John has been asked to develop a business case before obtaining approval to purchase a large piece of capital equipment for a glove manufacturing unit. Is this the right thing to do?

Options:

Yes, because this will help compare alternatives and options

No, because risk consideration is not John's responsibility

Yes, because this will assist the purchase order

No, because this can lead to business-focused thinking