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.
What issue is a buyer most likely to experience if the technical specification sent to suppliers as part of a Request For Quotation (RFQ) is insufficient?
Dana is an automobile manufacturer. It has a new electrification strategy that aims at making eco-friendly electric pick-up trucks. To implement this strategy, the procurement department must source new categories of parts that make motors, sensors, solenoids and stators. He starts to analyse the market by identifying specific supply market segments for those parts and finding suppliers who have the best capabilities in those segment. He intends to segment the market based on specific features of the products. Which variable is used by Dana procurement manager to shape and manage supply market?
A company is analysing its existing product's components and aims at reducing costs without damaging customer value proposition. They want to check which components are critical and which are unnecessary. Which of the following should be adopted by the company?
Which of the following are typical benefits of through-life asset management to buying organisa-tion? Select the TWO that apply.
Which of the following are 'secondary sources' of data for costs and prices?
Industry press
Published economic indices
Trade fairs
Buyer's database on market data
Which of the following are recognised competitive strategies?
1. Winning new business at all cost
2. Getting more customers’ attention
3. Creating stand-out products and brands
4. Focusing on niche market
5. Acquiring competitors
Thani Ltd is a fast growing logistics company with a fleet of 20 tractors. To meet Net Zero objec-tive, the company needs to electrify its fleet. Angelica is assigned to investigate the market price of electrifying services. After the investigation, she realises that the current market price is very expensive and unsustainable for her company. She decides to break down the costs before negotiating with the suppliers. Which internal stakeholders may help Angelica estimate the breakdown of costs? Select TWO that apply.
Gaskins Caskets (GC) is a manufacturing company that wants to identify new suppliers for a number of current parts. GC no longer has technical drawings for the parts and none of the engineers currently working for them have enough knowledge of the parts to write a specification. What could GC do to get accurate pricing from suppliers for these parts to compare to the existing parts?
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:
