L4M2 Reliable Exam Question - Free L4M2 Download Pdf

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CIPS L4M2 exam covers a wide range of topics, including the importance of stakeholder analysis, requirements gathering techniques, and how to use various tools and techniques to identify and prioritize business needs. Candidates will also be tested on their ability to create and manage project plans, as well as their knowledge of risk management and change management.

CIPS L4M2 (Defining Business Needs) Certification Exam is designed to test the knowledge and skills of professionals who are involved in the process of defining business needs in an organization. L4M2 Exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply, which is recognized globally as a leading qualification in the procurement and supply chain management field. The L4M2 exam covers a wide range of topics, including stakeholder management, requirement gathering techniques, business analysis, and procurement strategies.

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CIPS Defining Business Needs Sample Questions (Q165-Q170):

NEW QUESTION # 165
According to Porter's value chain, which of the following activities is categorised as support activity?

A. Develop digital SRM technology to manage suppliers better
B. Supervising the production line
C. Product warranties and special services
D. Storage of raw materials
E. Distribution of products from factory to retailer

Answer: A

Explanation:
Primary activities consist of inbound logistics, operations, outbound logistics, sales & marketing, service.
Second activities consist of firm infrastructure, human resource management, technology development and procurement Graphical user interface, diagram Description automatically generated

Support activities (also known as secondary activities) include Firm infrastructure, Human resource management, Technology development and Procurement. Developing digital SRM technology to manage suppliers better is Technology development.
LO 1, AC 1.2

NEW QUESTION # 166
Which of the following provides in-depth detail for both functional and non-functional require-ments and covers assumptions, constraints, performance, dimensions, weights and reliability of a product?

A. Statement of work
B. Tolerance
C. Performance specification
D. Design specification

Answer: D

Explanation:
Design specification is a detailed document providing a list of points regarding a product or pro-cess. For example, the design specification could include required dimensions, environmental fac-tors, ergonomic factors, aesthetic factors, maintenance that will be needed, etc. It may also give specific examples of how the design should be executed, helping others work properly (a guideline for what the person should do).
Performance specification is written requirement that describes the functional performance criteria required for a particular equipment, material, or product.
Tolerance is the permissable limit of a variable used to define a product Statement of work is the document that captures and defines all aspects of a project, including the activities, deliverables and the timetable for the project.

NEW QUESTION # 167
Which of the following roles are relevant to a 'services' market?
* A data researcher
* A warehouse manager
* A marketing consultant
* A logistics director

A. 1 and 2 only
B. 2 and 3 only
C. 3 and 4 only
D. 1 and 3 only

Answer: D

Explanation:
Detailed Explanation:Roles such as a data researcher and marketing consultant are directly tied to the provision of services, which are intangible and often knowledge-driven. Warehouse managers and logistics directors are more relevant to goods markets. Reference: CIPS Level 4, Services Procurement.

NEW QUESTION # 168
Which of the following factors is most likely to be a barrier to new entrant in agriculture?

A. Capital requirement
B. Brand recognition
C. High margins
D. Reputation within the industry

Answer: A

Explanation:
Barriers to Entry to Agriculture: If stakeholders are going to address the need for new, conserva-tion-minded farmers, they must understand the barriers these farmers encounter when transitioning into the profession. A review of the literature revealed a number of barriers-most of them structural-to entry to agriculture. While each barrier is distinct, they are all interconnected. Though not an exhaustive list, the following barriers are ones that were most frequently mentioned in the literature:
- Access to Affordable Land
- Startup Capital
- Lack of Agricultural Knowledge and Experience
- Lack of Knowledge about Farm Business Planning
- Discrimination
- Student Loans
- Limited Access to Markets
- Affordable Housing and Affordable Healthcare
...
Source: Exploring the Barriers to Entry to Agriculture: Challenges Facing Beginning Farmers in North Carolina - Kelley Robbins-Thompson Reference:
LO 2, AC 2.2

NEW QUESTION # 169
When preparing through-life specification, which of the following requirements should procure-ment team define besides the physical asset? Select TWO that apply.

A. Objectives
B. Customer service
C. Available substitute
D. Logistics and installation
E. Market analysis

Answer: B,D

Explanation:
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.
Diagram, table Description automatically generated

Source: Andrew Graves
With through-life management, buyer not only cares about the physical asset but also other factors like customer services and maintenance.

NEW QUESTION # 170
......

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L4M2 Reliable Exam Question - Free L4M2 Download Pdf

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CIPS Defining Business Needs Sample Questions (Q165-Q170):

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