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CIPS L4M2 Exam With Confidence Using Practice Dumps

Exam Code:
L4M2
Exam Name:
Defining Business Needs
Vendor:
Questions:
237
Last Updated:
Jul 2, 2025
Exam Status:
Stable
CIPS L4M2

L4M2: CIPS Level 4 Diploma in Procurement and Supply Exam 2025 Study Guide Pdf and Test Engine

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Defining Business Needs Questions and Answers

Question 1

To calculate the estimated annual payback period, a buyer will need to know the estimated annual savings made from implementing the option, and also the estimated costs. Is this statement correct?

Options:

A.

Yes, the calculation will be the estimated total costs divided by the estimated annual savings

B.

No, the calculation will be the estimated total costs multiplied by twelve

C.

Yes, the calculation will be the estimated annual savings added to the estimated total costs

D.

No, the calculation will be the estimated annual savings multiplied by the rate of inflation

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Question 2

Due to the growth of consumer electronics market, semiconductor industry develops exponentially. However, the industry is dominated by a dozens of manufacturer. Chipset need to be built in factories with highly controlled environments. New chip factories cost billions of dollars and can take two years to build. Right now, factories are running at full capacity, which produce almost perfect yields, meaning basic chipset can be made for less than a dollar and more advanced versions for not much more. What are the barriers to new entrants in the semiconductor industry?

1. Poor industry growth

2. High set-up costs

3. Economies of scale

4. Low switching costs

Options:

A.

2 and 4 only

B.

3 and 4 only

C.

2 and 3 only

D.

1 and 4 only

Question 3

GSC Ltd is a manufacturer of car parts. To accommodate growing demands of electric cars, the company is developing a new component which requires different type of steel. The project team estimates that the component will be ready for production in 1.5 years. Until then, they need to keep the production busy.

After checking the inventory records, the production team sees that the company has 3 months of stock. The lead time for each batch is two months. Which of the following should be a priority ac-tion of the company?

Options:

A.

Create new specification to new supplier

B.

Standardise the specification

C.

Create new specification to current supplier

D.

Make a call-off order to current supplier