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L4M2 Exam Dumps : Defining Business Needs

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Defining Business Needs Questions and Answers

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Question 1

An organisation's procurement team is in the best position to make the following contribution to the specification development process, to ...

Options:

A.

Ensure that the views of the suppliers are given priority over those of other stakeholders

B.

Provide the supply market perspectives, in terms of the potential suppliers and alternative solutions

C.

Argue in favour of using conformance specifications, instead of performance specifications

D.

Provide advice that the economic order quantity is the most important factor in the drafting of specifications

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Question 2

Procurement should work closely with colleagues in accounts when creating an annual budget. This is because the budget will help the company ...

Options:

A.

Define terms and conditions of the contract

B.

Plan its finances for the next year

C.

Process supplier invoices quicker

D.

Plan its functional strategy for the next year

Question 3

A company has a lists of items that make up 15% of total spend. These items also do not largely impact on quality of final product. The supply continuity is secured. Which of the following will be the most appropriate managing approach to purchase these items?

Options:

A.

Enhance supply continuity

B.

Simplify procurement process

C.

Build partnership with suppliers

D.

Drive down cost based on market competition

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