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CIPS Updated L4M2 Exam Questions and Answers by giovanna

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CIPS L4M2 Exam Overview :

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: giovanna
Question 12

Which of the following statements is the best definition of ‘value engineering?

Options:

A.

Analysing perceived value after the product is available for sale

B.

Building value into a new product from design stage onwards

C.

Producing good value products right first time.

D.

Value achieved by an engineering department

Discussion
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Question 13

Which of these are advantages of using a conformance specification? Select TWO that apply.

Options:

A.

It enables supplier flexibility and product innovation

B.

It enables value-for-money solutions

C.

It forces consideration of actual product needs

D.

It provides evidence of requirements if there is a dispute

E.

There is a smaller supplier base to select from

Discussion
Question 14

Which of the following are major factors when determining the bargaining power of buyers? Select THREE that apply.

Options:

A.

Number of buyers relative to suppliers

B.

Dependence of a buyer’s purchase on a particular supplier

C.

Life cycle costs

D.

Cash flow

E.

Switching costs

F.

Interest costs

Discussion
Question 15

Which of the following are criteria that the ISO 14000 series covers?

1. Life-cycle analysis

2. Continuous improvement

3. Financial information

4. Climate change

Options:

A.

1 and 4 only

B.

2 and 3 only

C.

3 and 4 only

D.

1 and 2 only

Discussion
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