L4M2 Latest Test Format & Valid Braindumps L4M2 Ebook

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CIPS L4M2 (Defining Business Needs) Exam is a globally recognized certification exam offered by the Chartered Institute of Procurement and Supply (CIPS). It is designed to test the knowledge and skills of procurement professionals in identifying and defining business needs in order to develop effective procurement strategies. L4M2 exam is suitable for procurement professionals who are involved in the procurement process from the initial stages of identifying business needs to the final stages of contract management.

CIPS L4M2 exam is aimed at procurement professionals who are responsible for identifying the needs of their organization and developing procurement strategies to meet those needs. L4M2 Exam covers a range of topics, including understanding the business environment, identifying stakeholder needs, developing procurement strategies, and managing the procurement process.

CIPS L4M2 exam is designed for individuals who have experience in business analysis or related fields. It is also suitable for those who wish to develop their skills and knowledge in this area. L4M2 exam is ideal for those who wish to enhance their career prospects by demonstrating their expertise in defining business needs. It is also valuable for organizations that wish to ensure that their business analysis professionals have the necessary skills and knowledge to effectively define business needs.

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CIPS Defining Business Needs Sample Questions (Q106-Q111):

NEW QUESTION # 106
Which of the following are typically reasons why an organisation implements value analysis? Select TWO that apply:

A. To decide whether there will be sufficient surplus funds to reinvest in the business
B. To find cost reduction opportunities by optimising the components used
C. To shape and manage supply market
D. To determine the value of each component used
E. To provide an outline business case for the specification

Answer: D

Explanation:
Value analysis is a systematic review of the production, purchasing and product design processes to reduce overall product costs. This can be accomplished through a variety of activities, including the following:
- Designing products to use lower-tolerance parts that are less expensive
- Switching to lower-cost components
- Standardizing parts across product platforms in order to achieve volume discounts
- Altering production processes to minimize the amount of production cycle time, thereby reducing labor costs
- Introducing automation to strip labor costs out of the production process
- Altering product packaging to lower its cost while still protecting the product The process is not a wholesale attack on costs. Costs are only reduced when the result will not im-pact the perceived level of quality experienced by customers, or the level of customer satisfaction.
Reference:
LO 3, AC 3.4

NEW QUESTION # 107
A "modified re-buy" means ...

A. The existing supplier should be asked to supply the requirement because it is a modified re-buy of the same item
B. The existing specifications should be reviewed but not the supply market, as this type of purchase is complex
C. The specification should not be considered for future treatment as a stock item because of the modification
D. Both the specification and the market should be reviewed to manage the new circumstances

Answer: D

NEW QUESTION # 108
When procuring an IT equipment, at which stage the buyer's expectations are translated into a technical specification?

A. Installation
B. In-service support
C. Design
D. Customer support

Answer: C

Explanation:
IT equipment is typically linked with through-life contracts. This type of contract not only deal with the specification and the price of a machinery, but also other stages such as design, manufacture, installation, in- service support, decommission and disposal. Among these stages, the design stage is when buyer's requirements are translated into technically correct specification.

NEW QUESTION # 109
What is the document that defines the activities, deliverables and timelines a supplier must carry out during contract performance?

A. Framework agreement
B. Work instruction
C. Statement of work
D. Project initial document

Answer: C

Explanation:
Statement of Work (SoW) is the document that captures and defines all aspects of your project. You'll note the activities, deliverables and the timetable for the project. It's an extremely detailed document as it will lay the groundwork for the project plan.
Project Initial Document is an important document and should precede any specification writing project. It sets out the scope of the project and it is the team's mandate from senior management Work instructions are also called work guides, Standard Operating Procedures (SOPs), job aids or user manuals, depending on the situation. In any case, the purpose of work instructions is to clearly explain how a particular work task is performed.
Framework agreements are arrangements between one or more buyers and one or more suppliers that provide the terms governing contracts to be established for a certain period of time, in particular with regard to price and, where necessary, the quantity envisaged.
Reference:
LO 3, AC 3.1

NEW QUESTION # 110
This is the information on an organisation's activities over the past year
* Sale were $5,000,000. The value of accounts receivable was $450,000 at the start of the year and $525,000 at the end of the year
* The value of direct costs was $2,500,000 and 75% of this was bought on credit
* Indirect costs were $3,000,000 and 25% of this was bought on credit
* During the year the organization spent $1,500,000 on new assets and sold $150,000 of old assets.
$1,000,000 of the spend on assets was funded by a bank loan
* The organization declared a dividend of $200,000 at the end of the year but this was not paid for another two months
* Opening balance was $175,000
Which of the following is the bank balance of that organization at the end of the year?

A. $2,025,000
B. $1,875,000
C. $1,675,000
D. $1,700,000

Answer: B

Explanation:
In this question, you should understand the concept of cash flow and formula of cash flow. Cash flow calculates the physical money moving in and out a company's bank balance. The cash flow from sale activity is:
cash flow from sale = account receivable at beginning of the year + revenue - account receivable at the end of the year = $450,000 + $5,000,000 - $525,000 = $4,925,000
75% of direct costs was bought by credit, therefore, the company spent 25% on direct cost: -$2,500,000*25
/100 = -$625,000
25% of indirect costs was bought on credit. Cash flow out on indirect costs is: -$3,000,000*75/100 =
-$2,250,000
Company spent $1,500,000 on new assets funded by a loan of $1,000,000. Cash flow out from this activity is
-$500,000
Company received $150,000 from selling old assets
Dividends have not been paid for another 2 months, thus, they are not accounted as cash flow out.
The bank balance at the end of the year is: $175,000 + $4,925,000 - $625,000 - $2,250,000 - $500,000 +
$150,000 = $1,875,000
LO 1, AC 1.4

NEW QUESTION # 111
......

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L4M2 Latest Test Format & Valid Braindumps L4M2 Ebook

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CIPS Defining Business Needs Sample Questions (Q106-Q111):

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