Cips selftestengine new Release L4m2 Cips Level 4 Diploma In Procurement And Supply Questions by Giovanna q101 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:	317 Q&A's	Shared By:	giovanna

Question 12

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

Options:

Analysing perceived value after the product is available for sale

Building value into a new product from design stage onwards

Producing good value products right first time.

Value achieved by an engineering department

Discussion

Question 13

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

Options:

It enables supplier flexibility and product innovation

It enables value-for-money solutions

It forces consideration of actual product needs

It provides evidence of requirements if there is a dispute

There is a smaller supplier base to select from

Discussion

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Question 14

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

Options:

Number of buyers relative to suppliers

Dependence of a buyer’s purchase on a particular supplier

Life cycle costs

Cash flow

Switching costs

Interest costs

Discussion