Zachary Brooks Zachary Brooks's Profile Page

Zachary Brooks Zachary Brooks

0 Course Enrolled • 0 Course Completed

Biography

Ace the Preparation CIPS L4M2 Exam Questions in PDF Format

BTW, DOWNLOAD part of ExamPrepAway L4M2 dumps from Cloud Storage: https://drive.google.com/open?id=15ajinbOhs1gZqEaCvEIDBbTDCxgfw6Ka

Do you want to earn the CIPS L4M2 certification to land a well-paying job or a promotion? Prepare with L4M2 real exam questions to crack the test on the first try. We offer our Defining Business Needs (L4M2) Dumps in the form of a real L4M2 Questions PDF file, a web-based CIPS L4M2 Practice Questions, and L4M2 desktop practice test software. Now you can clear the Defining Business Needs test in a short time without wasting time and money with actual L4M2 questions of ExamPrepAway.

CIPS L4M2 Exam is divided into two parts, A and B. Part A consists of 15 multiple-choice questions that test the candidate’s knowledge of procurement and supply chain management concepts, principles, and practices. Part B is a case study where candidates are required to analyze a real-life scenario and provide recommendations on how to address the business needs of the organization. This case study is designed to test the candidate’s ability to apply their knowledge and skills to practical situations.

>> Latest L4M2 Learning Material <<

CIPS L4M2 Valid Dumps Ebook & Latest L4M2 Test Blueprint

If you want to pass the exam in the shortest time, our L4M2 study materials can help you achieve this dream. Our L4M2 learning quiz according to your specific circumstances, for you to develop a suitable schedule and learning materials, so that you can prepare in the shortest possible time to pass the exam needs everything. If you use our L4M2 training prep, you only need to spend twenty to thirty hours to practice our L4M2 study materials, then you are ready to take the exam and pass it successfully.

CIPS L4M2 (Defining Business Needs) certification exam is an excellent opportunity for business analysts and other professionals to demonstrate their expertise in defining business needs and requirements. By earning this credential, they can enhance their career prospects and contribute more effectively to the success of their organization.

CIPS Defining Business Needs Sample Questions (Q99-Q104):

NEW QUESTION # 99
What will be the result of retaliation between business rivals in an industry?

A. Greater bargaining power of suppliers
B. Higher exit barrier
C. More new entrants
D. Lower profit

Answer: D

Explanation:
Industry rivalry-or rivalry among existing firms-is one of Porter's five forces used to deter-mine the intensity of competition in an industry. Other factors in this competitive analysis are:
- Barriers to entry
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of substitutes
Industry rivalry usually takes the form of jockeying for position using various tactics (for example, price competition, advertising battles, product introductions). This rivalry tends to increase in intensity when companies either feel competitive pressure or see an opportunity to improve their position.
In most industries, one company's competitive moves will have a noticeable impact on the competition, who will then retaliate to counter those efforts. Companies are mutually dependent, so the pattern of action and reaction may harm all companies and the industry.
Some types of competition (for example, price competition) are very unstable and negatively influence industry profitability. Other tactics (for example, advertising battles) may positively influence the industry, as they increase demand or enhance product differentiation.
References
Porter, M. (1998). Competitive Strategy. New York: Free Press. pp. 17-23.
CIPS study guide page 86-87
LO 2, AC 2.2

NEW QUESTION # 100
Buyers are more powerful than the supplier when they are purchasing from monopoly market. Is this statement true?

A. False, the buyer will be unable to track and manage supplier's performance
B. True, in monopoly market, buyer's switching costs from the incumbent supplier to an-other are relatively low
C. True, suppliers in monopoly market produce homogenous products
D. False, buyer will lack negotiating power on cost if the supplier has a monopoly in the market

Answer: D

Explanation:
A monopoly is a market with a single seller (called the monopolist) but with many buyers. In this market, the bargaining power of supplier is higher than of buyer since the supplier is the only seller.
Reference:
- CIPS study guide page 88-92
- Bargaining Power of Suppliers - Factors that Give Suppliers Power (corporatefinanceinsti-tute.com)
- Monopoly - Understanding How Monopolies Impact Markets (corporatefinanceinstitute.com) LO 2, AC 2.2

NEW QUESTION # 101
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?

A. No, the company assesses supplier's performance solely based on market analysis
B. Yes, the company has extensive experience in purchasing tractor
C. Yes, Leanne just needs to purchase the tractor from her friend's company
D. No, market analysis will inform the company of the pricing as well as latest technology trends

Answer: D

Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
Reference:
LO 2, AC 2.1

NEW QUESTION # 102
Procurement should work closely with colleagues in accounts when creating an annual budget. This is because the budget will help the company ...

A. Plan its finances for the next year
B. Define terms and conditions of the contract
C. Plan its functional strategy for the next year
D. Process supplier invoices quicker

Answer: A

NEW QUESTION # 103
A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost-savings. Is the procurement manager's opinion correct?

A. No, because higher specification may incur additional costs for the buyer
B. No, because higher requirements in specification, the greater bargaining power of buying organisation
C. Yes, because optimising the specification is the only method to achieve value for money
D. Yes, because higher requirements will help buying organisation find the best supplier

Answer: A

Explanation:
The specification that is produced too detailed will incur unnecessary cost because it does not allow suppliers to use their expertise in finding the most efficient way to produce it.
'No, because higher requirements in specification, the greater bargaining power of buying organi-sation': more detailed specifications could tighten the supplier base and potentially leave buying organisation with fewer potential supplier. This may reduce buyer's bargaining power in negotia-tion.
'Yes, because higher requirements will help buying organisation find the best supplier': in some circumstances, higher requirements will lead to smaller supplier base. In the worst scenario, there is no supplier who has capability to carry out those requirements
'Yes, because optimising the specification is the only method to achieve value for money': There are other methods to achieve cost saving and value for money, inter alia, volume concentration, relationship restructuring, etc.
Reference:
LO 3, AC 3.1

NEW QUESTION # 104
......

L4M2 Valid Dumps Ebook: https://www.examprepaway.com/CIPS/braindumps.L4M2.ete.file.html

P.S. Free & New L4M2 dumps are available on Google Drive shared by ExamPrepAway: https://drive.google.com/open?id=15ajinbOhs1gZqEaCvEIDBbTDCxgfw6Ka

Zachary Brooks Zachary Brooks

Biography

Let's stay linked!