CIPS L4M2 : Defining Business Needs

CIPS L4M2 Exam Syllabus Topics:

Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/def%C4%B1ning-business-need

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CIPS Defining Business Needs Sample Questions:

Question #1
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?

A. Tolerate the risk
B. Transfer the risk
C. Terminate the risk
D. Treat the risk

Question #2
You are a senior buyer in a large manufacturing company. The engineering team is looking for a product that will assist them in a new innovative project. The technology is evolving and the product supplied is likely to be bespoke to the supplier. You are suggesting the use of a performance specification as a part of the tender. What is the main reason for this?

A. The cost of the product is likely to be cheaper
B. This will allow a comprehensive description of the product
C. This places the responsibility for success with the supplier
D. The tender process is likely to be faster

Question #3
When analysing competitive forces in a market, which of the following can be seen as a supplier having low bargaining power?
Select TWO that apply:

A. Low switching costs between products
B. Low competition in the marketplace
C. High quality products
D. A high number of substitutes available
E. Low levels of innovation

Question #4
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:

A. Increased capacity
B. Improved brand equity
C. Leverage of technology
D. Reduced cost
E. Fulfilment of a business objective

Question #5
The buyer's database is regarded as a primary data source. Which of the following is also a source of primary data?

A. Published economic indices such as the retail price index (RPI)
B. Price listings on comparison websites and market exchanges
C. Price lists collected from suppliers' representatives at trade fairs
D. Financial and trade press, including journals published by professional bodies

Solutions: