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CIPS L4M2 Exam Dumps - Actual Questions Answers

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CIPS L4M2 Questions Answers

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L4M2 Questions and Answers

Question # 1

SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?

A.

Yes, industry benchmarks are always kept up to date to consider real-time market conditions

B.

No, the organisation will not have access to industry benchmarks as they are a new organisation

C.

No, industry benchmarks do not consider specific specifications, quality requirements, or real-time market conditions

D.

Yes, cost predictions do not need to be accurate as they are just an initial guess

Question # 2

XYZ Ltd is a large supermarket chain which operates mainly in the UK and Europe. Their custom-ers are increasingly concerned about sustainability. Therefore, procurement manager is required to source the products from suppliers who have good environmental performance. Which of the fol-lowing can be an assurance that the supplier has procedures and policies to enhance its environmental performance?

A.

ISO 14001:2015 certificate

B.

ISO 13485:2016 certificate

C.

ISO 22716:2007 certificate

D.

ISO 9001:2015 certificate

Question # 3

OMK is a Russian steel firm that is expanding market abroad. It plans to build a steel plant in a foreign country. Due to intricate technical requirements, the plant design will be very complex. Procurement department or technical department alone cannot draft the specification. OMK senior management decides that this task must be treated as a project. Which of the following should be done before writing the specification for new steel plant?

A.

Develop the performance framework for the supplier

B.

Draft the terms and conditions for plant construction contract

C.

Invite suppliers to the tendering process

D.

Develop project initial document

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CIPS L4M2 Exam Dumps FAQs

The CIPS L4M2 exam is a part of the CIPS Level 4 Diploma in Procurement and Supply. It focuses on defining business needs and understanding procurement requirements to ensure successful supplier relationships and cost-effective decision-making.
The CIPS L4M2 exam typically includes a combination of multiple-choice questions, short answer questions, and case study-based questions. The exam is designed to test your knowledge and understanding of procurement and supply management concepts.
The CIPS L4M2 (Defining Business Needs) exam consists of 60 multiple-choice questions and is 90 minutes long.
The CIPS L4M2 exam is considered challenging, but with thorough preparation and the right L4M2 study materials, many candidates successfully pass it.

The main difference between CIPS L4M2 and CIPS L4M3 lies in their focus areas:

  • CIPS L4M2 (Defining Business Needs): The CIPS L4M2 exam focuses on understanding how to develop a business case for sourcing requirements from external suppliers, market management in procurement, and the use of specifications in procurement and supply.
  • CIPS L4M3 (Commercial Contracting): The CIPS L4M3 exam focuses on understanding the legal issues related to the formation of contracts, the fundamentals of specifications and key performance indicators in contractual arrangements, and the key clauses included in formal contracts.
Myexamcollection offers a variety of study materials, including CIPS L4M2 exam dumps, study guides, and practice tests to help you prepare for the L4M2 Defining Business Needs exam.
Once you purchase the L4M2 exam questions and answers or study materials, you will receive a download link via email. You can use this link to download the L4M2 questions and answers in PDF format.
Our team of experts regularly reviews and updates the L4M2 exam dumps to ensure they reflect the latest exam content. You can check the update date on the product page to confirm the materials are current.