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L4M2 Lab Questions | L4M2 Test Torrent

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One of the modules in the CIPS Level 4 Diploma is L4M2 - Defining Business Needs. This module focuses on the importance of understanding the needs of the business before making procurement decisions. The module covers topics such as stakeholder management, business analysis techniques, and defining requirements. This module is ideal for anyone who wants to gain a deeper understanding of how procurement decisions impact the overall success of a business.

CIPS Level 4 Module 2 (L4M2) certification exam is an important step in the career development of procurement and supply chain professionals. L4M2 Exam Tests candidates’ ability to identify and define business needs in order to meet organizational objectives. Preparing for the exam requires a significant amount of study and practice, but passing the exam can demonstrate a candidate’s knowledge and skills in procurement and supply chain management.

CIPS Defining Business Needs Sample Questions (Q150-Q155):

NEW QUESTION # 150
Which of the following activities are considered as primary activities of an organization according to Porter's value chain? Select TWO that apply:

A. Assembly design
B. Sourcing transportation services
C. Maintenance
D. Picking and delivery components
E. Trainees recruitment

Answer: C,D

Explanation:
Primary activities consist of inbound logistics, operations, outbound logistics, sales & marketing, service.
Second activities consist of firm infrastructure, human resource management, technology development and procurement The following graph illustrate the value chain (Source: Smartsheet)

Picking and delivery components is inbound logistics.
Maintenance is an example of operations activity.
Sourcing transportation services is an activity of procurement
Assembly design is an activity in research and development (Technology) Recruiting is an activity of human resource management Reference:
LO 2, AC 2.1

NEW QUESTION # 151
Which of the following is an useful tool for value engineering?

A. Kraljic Portfolio Matrix
B. Star-burst method
C. Kano model
D. SAMOA

Answer: C

Explanation:
Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis. This takes place before any capital is invested in tooling, plant or equipment.
This is very significant, because according to many reports, up to 80% of a product's costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is under-standable when you consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs.
The Kano model is a theory for product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano, which classifies customer preferences into five categories. Both Kano model and Value Engineering aims at optimising new product, so they can be combined to-gether. CIPS L4M2 study guide consider Kano model is a tool of Value Engineering

Example of Kano model (source: Wikipedia)
Reference:
LO 3, AC 3.4

NEW QUESTION # 152
Jasmine identified a possible new supplier that offers commercial improvements in her category of spend. She decided to put forward a business case to justify the necessity for a new supplier assessment and audit with the aim of adding the supplier to the approved list. Jasmine decided to carry out a cost-benefits analysis. Is this the right approach for Jasmine to use?

A. No, cost-benefits analysis should be done by accounts only
B. No, cost-benefits analysis is not required; she should request supplier approval
C. Yes, cost-benefits analysis will show if benefits offered outweigh the cost of the approval
D. Yes, cost-benefits analysis is a regulatory requirement for any business case

Answer: C

NEW QUESTION # 153
Which of the following is an assumption of Kano model?

A. All customer requirements are basic requirements
B. All types of customer requirements have the same impact on customer satisfaction
C. The relationship between product functionality and customer satisfaction is always linear
D. Different types of customer requirements have different impact on customer satisfaction

Answer: D

Explanation:
Kano model of excitement and basic quality (Kano et al, 1984; Berger et al, 1993; Matzler et al, 1996) brings a different perspective for the analysis of improvement opportunities in products and services because it takes in consideration the asymmetrical and non-linear relationship between performance and satisfaction. The Kano model classifies customers requirements in three categories (figure 3):
a) Basic Requirements. The basic requirements fulfill the basic functions of a product. If they are not present or their performance is insufficient, customers will be extremely dissatisfied. On the other hand, if they are present or have sufficient performance, they don't bring satisfaction. Customers see them as prerequisites. For instance, for luxury automobiles, "air bags" are considered basic. A customer won't feel satisfied if the automobile has "air bag", however he/she will not buy it if "air bag" is not present.
b) Performance Requirements. As for these requirements, satisfaction is proportional to the performance level
- the higher the performance, the higher the customer's satisfaction will be and vice-versa. Gas consumption in automobiles is an example of these requirements. Usually customers explicitly demand performance requirements.
c) Excitement Requirements. These requirements are key to customer satisfaction. If they are pre-sent or have sufficient performance, they will bring superior satisfaction. On the other hand, if they are not present or their performance is insufficient, customers will not get dissatisfied. For instance, a surprise gift at the end of a dinner in a restaurant will certainly bring satisfaction, but it will not cause dissatisfaction if not offered. These requirements are not demanded nor expected by customers.
Two other types of requirements may be identified in the Kano model: neutral and reverse ones. Neutral requirements do not bring either satisfaction or dissatisfaction. Reverse requirements bring more satisfaction if absent than if present.
Diagram Description automatically generated

NEW QUESTION # 154
Honda of America Manufacturing is a well established automobile manufacturer. It purchases tens of thousands of materials and parts from suppliers, however, only few of them are strategic. To these suppliers, Honda's procurement manager requires them to send details of labour, materials, overhead cost and profit. However, the suppliers are reluctant to submit such confidential infor-mation. Is the procurement manager's action appropriate?

A. No, because procurement manager should conduct life-cycle analysis
B. Yes, because the procurement manager can get a good insight from the market
C. Yes, because strategies can be introduced for reducing cost and improving the supplier relationships.
D. No, because no suppliers are willing to show sensitive information on their costs and profit.

Answer: C

Explanation:
With strategic suppliers, the aim should be to work co-operatively with them to find ways of reducing costs to achieve a target cost. It is necessary to work with the suppliers in carrying out open book costing by having first persuaded them of the need to do it. Open book can be used to establish a Target Cost, a Compensation Event value and can eventually be used to ensure the payment of actual costs to an organization. A number of forms of contract cater for this functionality of which only the NEC goes to into any great depth of methodology.
If the suppliers worry about leak of confidential information, procurement team can suggest them to sign a non-disclosure agreement. The buying organisation should also comply with data protection regulations. The Employer / individual responsible for a project's costs should ultimately take a pragmatic and sensible approach with regard to commercially or personally sensitive data provided by the contractor. The primary goal of all open book cost management is to provide Employer comfort and security in the accuracy of commercial data; this effectively means striking a balance between undertaking full audits and blind faith.
Reference:
LO 1, AC 1.2

NEW QUESTION # 155
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