TOP FEATURES OF EXAM4LABS CIPS L4M2 PDF DUMPS FILE

Top Features of Exam4Labs CIPS L4M2 PDF Dumps File

Top Features of Exam4Labs CIPS L4M2 PDF Dumps File

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CIPS L4M2 So as you see, we are the corporation with ethical code and willing to build mutual trust between our customers, Latest L4M2 dumps exam training resources in PDF format download free try from Defining Business Needs is the name of Defining Business Needs exam dumps which covers all the knowledge points of the real Defining Business Needs exam, CIPS L4M2 We will try our best to help our customers get the latest information about study materials. The size of the problem really is unknown, L4M2 revisited that tricky question: is something something worth it, But enough about this horrible dystopian future, L4M2 Exam Preparation Platform are attracting a lot of attention these days.

CIPS L4M2 Exam is designed to test the candidate's understanding of how to define and analyze business needs effectively. L4M2 exam covers topics such as identifying internal and external stakeholders, understanding business processes and requirements, developing procurement strategies based on business needs, and evaluating procurement options. Passing L4M2 exam is crucial for anyone who wants to advance their career in procurement and supply chain management. It shows that the candidate has the necessary skills and knowledge to analyze business needs and develop procurement strategies that align with the organization's objectives.

The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that offers training and certification programs in procurement and supply chain management. The CIPS Level 4 Diploma in Procurement and Supply is a highly sought-after qualification that prepares professionals for strategic procurement roles. The second module of this diploma is Defining Business Needs, which equips learners with the skills and knowledge needed to identify and analyze organizational needs.

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With the help of the CIPS L4M2 brain dumps and preparation material provided by Exam4Labs, you will be able to get CIPS CIPS Level 4 Diploma in Procurement and Supply certified at the first attempt. Our CIPS experts have curated an amazing L4M2 exam guide for passing the L4M2 Exam. You can get the desired outcome by preparing yourself from the L4M2 exam dumps material provided by Exam4Labs. We frequently update our L4M2 exam preparation material to reflect the latest changes in the L4M2 exam syllabus.

CIPS L4M2 exam, also known as Defining Business Needs, is an essential module for procurement professionals. L4M2 exam is designed to provide learners with a comprehensive understanding of how to identify, define, and manage business needs effectively. L4M2 Exam covers various topics, including developing business cases, stakeholder management, and identifying procurement options.

CIPS Defining Business Needs Sample Questions (Q150-Q155):

NEW QUESTION # 150
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

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

Answer: C,D

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 # 151
Bob is a new procurement specialist at XYZ Ltd. He is assigned to categorise the company's sup-plies. After analysing, Bob realises that a group of low value products is sourced from a tiny geo-graphical area which is prone to flooding. What would be the best strategy to manage this category of products?

  • A. Find an alternative source to secure supply
  • B. Source this group of products from only one supplier
  • C. Assign some of procurement jobs to user department
  • D. Form partnership relationship with the current supplier

Answer: A

Explanation:
In the scenario, the products have low value and high risk of supply. This group is known as bottleneck or critical in Kraljic's portfolio matrix. The objective for such items would be securing the supply. The company can achieve this goal by 'making' the products themselves, or finding an alternative option.
Diagram Description automatically generated


NEW QUESTION # 152
Why should the buying organisation require the supplier to carry out acceptance testing?

  • A. To get the approval from the senior management
  • B. To compare between the account payables and account receivables
  • C. To check whether the product matches the specification
  • D. To see whether the supplier engages in unethical business practice

Answer: C

Explanation:
Acceptance testing, in the context of the engineering and software industries, is a functional trial performed on a product or prototype before it is put on the market or delivered, to decide whether the specifications or contract have been met. It also makes sure the quality and design of the product meet both contractual and regulatory obligations in terms of functionality, usability, durability, and safety.
If a product is found to be unacceptable at this stage, it can be sent back for modification, debug-ging, repair, or re-design before it can become a costly undertaking for the producer, as would be the case in a product recall.


NEW QUESTION # 153
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?

  • A. Supplier relationship stage
  • B. Specification stage
  • C. Tendering stage
  • D. Contracting stage

Answer: A

Explanation:
Risk management has become incredibly complex, especially for capital purchase which requires through-life contract. Any source of risks should be identified and closely managed from the specification stage.
There should be sufficient information in the specification to minimise risks later in the through-life contract. Here is something to consider:
- Make sure the parties to the contract are clearly identified. This is particularly important if a prime contractor is being used. Allow them to subcontract elements of the specification.
- Clearly identify any testing and quality assurance procedures and who will perform them.
- Document every important aspect of the specification including a project plan
- Include a reasonable limitation of liability clause in the contract and reference it in the specifica-tion
- Identify any guarantees that are needed
- Be clear on what insurance will and will not cover
- Make sure there is clear audit trail of any changes to the specification together with approvals LO 3, AC 3.2


NEW QUESTION # 154
When procuring an IT equipment, at which stage the buyer's expectations are translated into a technical specification?

  • A. Customer support
  • B. Installation
  • C. Design
  • D. In-service support

Answer: C

Explanation:
IT equipment is typically linked with through-life contracts. This type of contract not only deal with the specification and the price of a machinery, but also other stages such as design, manufacture, installation, in- service support, decommission and disposal. Among these stages, the design stage is when buyer's requirements are translated into technically correct specification.


NEW QUESTION # 155
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