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L4M2 dumps questions answers

CIPS L4M2 Dumps

Exam Code:
L4M2
Exam Name:
Defining Business Needs
Last Update: Nov 23, 2024
237 Questions with Explanation
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Defining Business Needs Questions and Answers

Questions 1

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?

Options:

A.

Enhance supply continuity

B.

Simplify procurement process

C.

Build partnership with suppliers

D.

Drive down cost based on market competition

Questions 2

CP Group places emphasis on the following business objectives:

    Responsive production processes to react quickly to market changes

    Collaboration and technological integration

    New products launched and on sale very quicklyWhich of the below business markets does CP Group belong to?

Options:

A.

Construction

B.

Financial

C.

Retail

D.

Agriculture

Questions 3

To calculate the estimated annual payback period, a buyer will need to know the estimated annual savings made from implementing the option, and also the estimated costs. Is this statement correct?

Options:

A.

Yes, the calculation will be the estimated total costs divided by the estimated annual savings

B.

No, the calculation will be the estimated total costs multiplied by twelve

C.

Yes, the calculation will be the estimated annual savings added to the estimated total costs

D.

No, the calculation will be the estimated annual savings multiplied by the rate of inflation