almost 2 years ago

BTW, DOWNLOAD part of BraindumpsPrep L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=1s3tyC2xkFsQYLLMrUy1Hr1YtXpwWlwtB To keep constantly update can be walk in front, which is also our BraindumpsPrep's idea. Therefore, we regularly check L4M2 exam to find whether has update or not. Once the update comes out, we will inform our customers who are using our products so that they can have a latest understanding of L4M2 Exam. All the update service is free during one year after you purchased our L4M2 exam software.

CIPS L4M2 Exam Syllabus Topics:

Topic	Details
Topic 1	Identify the risks that can result from inadequate specifications and mitigation approaches Use information to prepare budgets or to negotiate prices
Topic 2	Approaches to total costs of ownership whole life cycle costing Interpret financial budgets for the control of purchases
Topic 3	Understand the use of specifications in procurement and supply Analyse the different types of markets utilised by procurement and supply
Topic 4	Provide guidance to internal stakeholders on implementation Implications of the business needs on the types of purchase
Topic 5	Output or outcome, statement of work based specifications Types of market data that can provide information on costs and prices
Topic 6	Identify sections of specifications for through life contracts Identify how costs and prices can be estimated for procurement activities
Topic 7	Identify opportunities to regulate short and longer term specifications Procurement’s role in developing a business case
Topic 8	Analyse the criteria that can be applied in the creation of a business case Availability of substitutes and threat of entry
Topic 9	Understand market management in procurement and supply Compare the competitive forces that influence markets

>> Online CIPS L4M2 Training Materials <<

Latest L4M2 Test Practice, Latest L4M2 Test Materials

Furthermore, it is our set of L4M2 brain dumps that stamp your success with a marvelous score. The dumps include L4M2 study questions that likely to be set in real L4M2 exam. They provide you a swift understanding of the key points of L4M2 covered under the syllabus contents. Going through them enhances your knowledge to the optimum level and enables you to ace exam without any hassle. No need of running after unreliable sources such as free courses, online L4M2 courses for free and L4M2 dumps that do not ensure a passing guarantee to the L4M2 exam candidates.

CIPS Defining Business Needs Sample Questions (Q73-Q78):

NEW QUESTION # 73
Builder Inc is a rapidly expanding business in construction sector. Due to an increase in projects, it cannot manage the flow of materials by Excel spreadsheets but by more dedicated software. Who would be a key internal stakeholder in defining software compatibility with company's current system?

• A. IT team
• B. Finance team
• C. Procurement team
• D. Executive team

Answer: A Explanation:
Internal stakeholders may contribute to defining needs and drafting the specification by using their technical expertise. In this scenario, IT team may consult procurement team on the technical specification of the software, including compatibility with company's current IT system.
Reference:
LO 3, AC 3.4
NEW QUESTION # 74
Which of the following is the purpose of benchmarking?

• A. To coerce all suppliers to sacrifice their profit
• B. To resist continuous improvement
• C. To identify and adapt the best practices to improve organisation's performance
• D. To copy other organisation's intellectual properties, processes and practices

Answer: C Explanation:
According to US Department of the Navy, Benchmarking is a strategic and analytic process of continuously measuring an organisation's products, services, and practices against a recognised leader in the studied area.
Successful benchmarking will help you:
- Find who does the process best and close the gap
- Recognise the leading organisations in a process or activity
- Create performance standards derived from an analysis of the best in business
- Ensure that comparisons are relevant
- Measure your performance, your processes, and your strategies against best in business
- Measure business processes
- Assess performance over time
- Accelerate continuous process improvement (CPI)
- Establish more credible goals for CPI
- Establish actionable objectives
- Discover and clarify new goals
- Establish customer expectations of business standards set by the best suppliers in industry
- Help your organisation achieve breakthrough improvements
- Create a sense of urgency for change
- Increase customer satisfaction
- Become direction setting
- Provide a positive, proactive structured process
Benchmarking does not:
- Copy the other's processes
- Steal other business confidentiality
- Stop. Benchmarking is a continuous process.
Reference:
- CIPS study guide page 49-51
- The Department of the Navy Benchmarking Handbook
LO 1, AC 1.3
NEW QUESTION # 75
Which of the following might be consequences of over-specification? Select TWO that apply:

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

Answer: B,C 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 # 76
Sealines Inc is developing its fleet of cargo ships. The company is planning to build a new ship powered by natural gas. Brian, the procurement manager at Sealines, suggests the project team to develop a through-life specification before engaging with the supplier. Is this a correct approach?

• A. No, a ship is used only once, through-life management is unnecessary
• B. Yes, this approach will lower the total cost of ownership
• C. Yes, decommissioning and disposal costs will not be accounted in this approach
• D. No, the company just needs to select the lowest bidder

Answer: B Explanation:
Through-life management is a approach applied to capital asset. According to Ward and Graves, 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. According to CIPS study guide, through-life management comprises of 6 parts:
1. Design
2. Manufacture
3. Installation
4. In-service support
5. Decommission and disposal
6. Customer support
In this scenario, the company is planning to procure a ship, which is a capital asset. Through life management is a good approach. Sealines can start with developing through-life specification. This approach may have several benefits:
- It lowers the costs over the whole life of the asset
- It lowers the risks as there is a single company accountable for costs and service over the life of the asset
- A closer match between the asset delivered and the users' needs
- Development of capability over the life of the asset as the supplier continues to get experience of the users' needs and can adapt services to meet them.
Reference:
- CIPS study guide page 130-131;
- Through-life management: The provision of total customer solutions in the aerospace industry, by Yvonne Ward and Andrew Graves LO 3, AC 3.2
NEW QUESTION # 77
Which of the following is the new technology that has impact on manufacturing sector?

• A. Social Media
• B. E-commerce
• C. Blockchain
• D. Robotics

Answer: D Explanation:
Robots in manufacturing help to create jobs by reshoring more manufacturing work. Robots protect workers from repetitive, mundane and dangerous tasks, while also creating more desirable jobs, such as engineering, programming, management and equipment maintenance.
LO 2, AC 2.1
NEW QUESTION # 78
...... The memory needs clues, but also the effective information is connected to systematic study, in order to deepen the learner's impression, avoid the quick forgetting. Therefore, we can see that in the actual L4M2 exam questions, how the arrangement plays a crucial role in the teaching effect. The L4M2 Study Guide in order to allow the user to form a complete system of knowledge structure, the qualification L4M2 examination of test interpretation and supporting course practice organic reasonable arrangement together. Latest L4M2 Test Practice: https://www.briandumpsprep.com/L4M2-prep-exam-braindumps.html 2023 Latest BraindumpsPrep L4M2 PDF Dumps and L4M2 Exam Engine Free Share: https://drive.google.com/open?id=1s3tyC2xkFsQYLLMrUy1Hr1YtXpwWlwtB