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CIPS L4M2 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand how to devise a business case for requirements to be sourced from external suppliers Producing estimated costs and budgets
Topic 2	Identify sections of specifications for through life contracts Identify how costs and prices can be estimated for procurement activities
Topic 3	Output or outcome, statement of work based specifications Types of market data that can provide information on costs and prices
Topic 4	Understand the use of specifications in procurement and supply Analyse the different types of markets utilised by procurement and supply
Topic 5	Identify opportunities to regulate short and longer term specifications Procurement’s role in developing a business case
Topic 6	Analyse the criteria that can be applied in the creation of a business case Availability of substitutes and threat of entry
Topic 7	Monitor specification creation by colleagues and other internal stakeholders Analyse how business needs influence procurement decisions
Topic 8	Approaches to total costs of ownership whole life cycle costing Interpret financial budgets for the control of purchases
Topic 9	Understand market management in procurement and supply Compare the competitive forces that influence markets

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CIPS Defining Business Needs Sample Questions (Q107-Q112):

NEW QUESTION # 107
Which of the following might be consequences of over-specification? Select TWO that apply:

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

Answer: B,E 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 # 108
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating "good quality" in the specification will be enough for quality standard section. Is the procurement manager's thought appropriate?

• A. Yes, because the specification should be concise.
• B. No, because "good quality" is very ambiguous for suppliers to identify Sabic's re-quirement
• C. Yes, because IT sector has its own standard of quality, therefore, suppliers may deliver good quality without any further Explanation:
• D. No, because "good quality" is an in-house jargon that suppliers are not familiar with

Answer: B Explanation:
Specifications for through-life contracts must be clear. They should use precise technical language and avoid any ambiguity as much as possible. In most cases, 'good quality' is ambiguous. The con-tractor doesn't know exactly which product the buying organisation needs and how to supply that product.
Other notices for description of requirement are:
- Short and simply description
- Clear definitions at the beginning of the documents
- Clarify abbreviations (if any), but abbreviations should be avoided as much as possible
- Avoid any 'slang'
- Use imperative forms of language whenever possible.
LO 3, AC 3.2
NEW QUESTION # 109
What is the contribution of marketing function to the development of specification?

• A. Marketing provides ideas on customer's taste and market trends
• B. Marketing ensures that conformance specification will never be used
• C. Marketing consults on technical requirements of the product
• D. Marketing ensures that procurement function doesn't involve in developing specification

Answer: A Explanation:
Marketing plays a critical role in sales. The marketing department introduces products to the con-sumer, and creates strategic messaging that elevates appeal and ultimately drives sales. The feed-back and response from consumers is measured by the marketing team on a variety of levels. Ad-vertising is one means of seeing what performs and what does not perform. Marketers will note trends and demand in their specific markets. This plays into new product development, because the marketing team can work with product developers to create products based on that demand.
In development of specification, the role of marketing is largely the same. They provide the market insight so that right specification is developed and it matches the demands from customers.
Reference:
- CIPS study guide page 173-175
- Role of Marketing Management in New Product Development (chron.com)
LO 3, AC 3.4
NEW QUESTION # 110
A company has a lists of items that make up 15% of total spend. These items also do not largely impact on quality of final product. The supply continuity is secured. Which of the following will be the most appropriate managing approach to purchase these items?

• A. Simplify procurement process
• B. Build partnership with suppliers
• C. Enhance supply continuity
• D. Drive down cost based on market competition

Answer: A Explanation:

Those items make up small portion of spend and the supply risk is low. So it is tactical item according to Kraljic portfolio matrix. Procurement should bundle these items into larger contracts, simplify procurement process.
LO 2, AC 2.1
NEW QUESTION # 111
Which of the following are typical benefits of through-life asset management to buying organisa-tion? Select the TWO that apply.

• A. Shorter specifications
• B. Lower risks as there are many suppliers accountable for costs and service over the life of the asset
• C. Lower total cost of ownership
• D. Greater supplier's bargaining power
• E. Better capability of supplier over time

Answer: C,E Explanation:
According to Andrew 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." Benefits of through-life asset management can be:
- Lower total life-cycle costs
- Better match between the asset and end-user's needs
- Better supplier capabilities over time because it gains experience of buying organisation's needs.
Reference:
LO 3, AC 3.2
NEW QUESTION # 112
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