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L4M2 Exam Reference, L4M2 PDF Dumps Files

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CIPS L4M2 (Defining Business Needs) certification exam is an essential credential for professionals looking to advance their career in the field of business analysis. L4M2 exam is designed to test the candidate's knowledge and skills in defining business needs and requirements, which are crucial elements of any successful business project.

The Defining Business Needs unit is particularly relevant to procurement and supply chain professionals as it helps them to understand the broader business context in which procurement decisions are made. By understanding business needs, procurement professionals can ensure that their procurement strategies align with the goals and objectives of the organization.

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L4M2 PDF Dumps Files | Valid L4M2 Test Question

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CIPS L4M2 Certification Exam is ideal for professionals who are involved in business analysis, procurement, and supply chain management. L4M2 exam covers a range of topics, including stakeholder management, business needs assessment, requirements gathering, and solution development. Candidates who successfully complete the exam will be able to identify and analyze business needs, develop business cases, and provide solutions that meet the needs of stakeholders.

CIPS Defining Business Needs Sample Questions (Q20-Q25):

NEW QUESTION # 20
A garment manufacturer supplies global retailers with t-shirts, shirts, and linen trousers. Because of currency fluctuations, the manufacturer is aware that they must control their direct costs in order to ensure profits. Which of the following is a direct cost for the garment manufacturer?

A. Utilities cost
B. Cotton fabric
C. Facilities rent
D. Office staff payroll

Answer: B

Explanation:
Detailed Explanation:Cotton fabric is a direct cost because it is directly attributable to the production of the garments. Costs like rent, utilities, and payroll are indirect costs associated with running the business.
Reference: CIPS Level 4, Cost Categorization in Procurement.

NEW QUESTION # 21
Daytona Ltd is developing a new product which is more environmental friendly. Though the objectives are set, the project team has no idea on which functions will be customers' favourites. Which of the following will help them decide the 'should-have' functions of the new product?

A. Kano model
B. Thomas-Kilmann model
C. Taguchi method
D. Six Sigma

Answer: A

Explanation:
The Kano model is useful in gaining a thorough understanding of a customer's needs. You can translate and transform the resulting verbatims using the voice of the customer table that, subse-quently, becomes an excellent input as the whatsin a quality function deployment (QFD) House of Quality.
The model involves two dimensions:
Achievement (the horizontal axis), which goes from the supplier didn't do it at all to the supplier did it very well.
Satisfaction (the vertical axis), which goes from total dissatisfaction with the product or service to total satisfaction with the product or service.
Dr. Noriaki Kano isolated and identified three levels of customer expectations: that is, what it takes to positively impact customer satisfaction. The figure below portrays the three levels of need: expected, normal, and exciting.

The Thomas-Kilmann Conflict Mode Instrument (TKI) is a conflict style inventory, which is a tool developed to measure an individual's response to conflict situations.
Genichi Taguchi, a Japanese engineer, proposed several approaches to experimental designs that are sometimes called "Taguchi Methods." These methods utilize two-, three-, and mixed-level fractional factorial designs. Large screening designs seem to be particularly favored by Taguchi adherents.
Six Sigma is a method that provides organizations tools to improve the capability of their business processes. This increase in performance and decrease in process variation helps lead to defect re-duction and improvement in profits, employee morale, and quality of products or services.
Source:
- CIPS study guide page 171-172
- WHAT IS THE KANO MODEL?
LO 3, AC 3.4

NEW QUESTION # 22
A buyer may consider switching from one product or service to another, or from one supplier to another.
Which of the following options are a type of switching cost?
* Inflation cost
* Historical cost
* Retraining cost
* Modification cost

A. 2 and 3
B. 1 and 4
C. 3 and 4
D. 1 and 2

Answer: C

NEW QUESTION # 23
Which of the following bodies provides standards for the products and services in the US?

A. ISO
B. ANSI
C. BSI
D. AFNOR

Answer: B

Explanation:
ANSI is the American National Standards Institute. It is responsible for providing technical stand-ards in the US LO 3, AC 3.1

NEW QUESTION # 24
According to Porter's value chain, which of the following activities is categorised as support activity?

A. Supervising the production line
B. Storage of raw materials
C. Distribution of products from factory to retailer
D. Develop digital SRM technology to manage suppliers better
E. Product warranties and special services

Answer: 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

Support activities (also known as secondary activities) include Firm infrastructure, Human resource management, Technology development and Procurement. Developing digital SRM technology to manage suppliers better is Technology development.
LO 1, AC 1.2

NEW QUESTION # 25
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