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Valid Exam L4M2 Book & Certification L4M2 Exam

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CIPS Defining Business Needs Sample Questions (Q29-Q34):

NEW QUESTION # 29
Which of the following are major factors when determining the bargaining power of buyers? Select THREE that apply.

A. Dependence of a buyer's purchase on a particular supplier
B. Number of buyers relative to suppliers
C. Cash flow
D. Life cycle costs
E. Interest costs
F. Switching costs

Answer: A,B,F

NEW QUESTION # 30
Buyers can ascertain the prices by examining information provided by primary and secondary sources of market data. Which of the following is a secondary source of market data?

A. Suppliers' prices provided on the buyer's request for quotation
B. Price brochures provided by the supplier's sales team
C. Supplier prices provided on price comparison websites
D. Historical records of supplier prices on the buyer's database

Answer: C

Explanation:
Detailed Explanation:Price comparison websites are secondary sources as they aggregate data collected from multiple suppliers. Primary sources (like RFQs and brochures) come directly from the supplier.
Reference: CIPS Level 4, Market Data Analysis.

NEW QUESTION # 31
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. Taguchi method
C. Thomas-Kilmann model
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 # 32
A company is evaluating two investment projects: Project A and Project B. Project A has a high initial cost but generates substantial cash flows over time. Project B has a lower initial cost but generates modest cash flows consistently. The company's cost model indicates a payback period of three years for Project A and a payback of four years for Project B. Which of the following statements is correct regarding the cost models and cash flow profiling for these projects?

A. Project B's lower initial cost allows for faster profit realisation, making it the better investment choice
B. Project A has a shorter payback period, making it a quicker return on investment compared to Project B
C. Project A's higher initial cost is a disadvantage, and its payback period should be extended for better profitability
D. Project B's modest and consistent cash flows make it a risky investment option due to a longer payback period

Answer: B

Explanation:
Detailed Explanation:Project A's shorter payback period means the initial investment is recovered more quickly, which is often preferred in cost models. The higher initial cost is offset by substantial cash flows, making it the more viable option based on ROI. Reference: CIPS Level 4, Investment Appraisal Techniques.

NEW QUESTION # 33
Which of the following might be consequences of over-specification? Select TWO that apply:

A. Reducing motion waste
B. Lack of essential features
C. Better contract management
D. Limiting competition in supply market
E. Higher cost due to inessential features

Answer: B,E

Explanation:
Over-specification can cause problems to buying organisation, include the following:
- Higher expense due to unnecessary features embedded into the product
- Stifle competition because higher requirements will lead to fewer suppliers in the market are able to supply
- Harder to evaluate the trade-offs between different features and attributes in the specification Reference:
LO 3, AC 3.3

NEW QUESTION # 34
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