L4M2 Practice Questions
Defining Business Needs
Last Update 10 hours ago
Total Questions : 303
Dive into our fully updated and stable L4M2 practice test platform, featuring all the latest CIPS Level 4 Diploma in Procurement and Supply exam questions added this week. Our preparation tool is more than just a CIPS study aid; it's a strategic advantage.
Our free CIPS Level 4 Diploma in Procurement and Supply practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about L4M2. Use this test to pinpoint which areas you need to focus your study on.
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?
Halfords is a major bicycle and car parts retailer with long history in the market. Its suppliers are plentiful and there is no threat of forward integration. Some other smaller retailers are applying 3D-printing technology to make personalized bicycle parts but their market share is relatively low. 3D-printing technology is an example of which competitive force?
An organisation's procurement team is in the best position to make the following contribution to the specification development process, to ...
Which of the following is true in relation to estimating the costs associated with whole life asset management?
Which of the following indicates types of waste that procurement department concentrates on when adopting Lean methods?
Which of the following problems may be identified as open-ended problems? Select TWO that apply:
Sam has recently joined Spahn Farm Foods (SFF) as a procurement manager. She has instructed her team to develop and distribute a standard specification template for business stakeholders to use when requesting purchases. How would this benefit SFF?
At which stage of product life cycle, price competition between sellers will be the most intense?
Which of the following is the process for improving the value of a new product or service?
The procurement team of a global supermarket has created a business case for a corporate social responsibility (CSR) sourcing strategy to meet the corporate objective of sustainability. This would require sourcing only from suppliers who meet ethical standards, a reduction in plastic, and using recycled material where possible. Which of the following business benefits would be mentioned in the business case? Select TWO that apply:
