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CIPS - Defining Business Needs L4M2 Paper 1.
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Which items listed represent fixed costs within a business?
Which of the following exemplify recognized competitive strategies?
1. Pursuing new business at any expense
2. Capturing greater customer attention
3. Developing distinctive products and brands
4. Concentrating on a niche market
5. Absorbing competitors
MegSteel requires a set of instruments to enhance the quality of its steel. Without these instruments, MegSteel risks losing control over temperature regulation. This could lead to the freezing of the bucket or leakage during the casting process, potentially damaging machinery. Given the limited availability and significant variation in quality within the market, what would be the most suitable procurement management approach for acquiring these items?
Which of the following exemplifies a performance specification?
Which TWO of the following are commonly encompassed within a conformance specification?
What method is the purchaser employing when seeking alternative supplies in the event of a significant disruption to their entire supply chain, covering logistics, manufacturing, and all associated services?
What is the term describing when the buying organization integrates with other businesses providing the necessary raw materials for its product manufacturing process?
Jax Ltd, in its engine production, utilizes numerous components. To pursue cost reduction opportunities and streamline part varieties, which of the following strategies may aid the procurement manager in achieving these objectives?
1. Value analysis
2. Segment analysis
3. Variety reduction
4. Standardization
What are the factors contributing to material cost variance?
1. The buyer updates the purchase-to-pay system to monitor payment and delivery.
2. A missing unprocessed goods received note.
3. Employees are required to work overtime to meet customer orders.
4. The purchase is conducted as an emergency.
A procurement team is categorizing their purchased items into the four quadrants of Kraljic's supply chain portfolio matrix. They observe that certain low-value items are sourced from a limited number of suppliers in the market, and the organization is heavily reliant on these suppliers. The team intends to mitigate this dependency by seeking alternative sources.Is this course of action appropriate?
Which of the following options represent secondary sources of data regarding costs and prices?
Which TWO of the following information sources are categorized as primary data?
Which of the following enumerates the types of waste that the procurement department focuses on when implementing Lean methods?
MaxStone ltd holds the position of being the foremost purchaser of stone within the country, accounting for 50% of all stone manufactured, while other stone consumers collectively constitute less than 10%. The company utilizes stone in the production of a diverse range of items including countertops, tiles, sculptures, and jewelry. Which power does MaxStone ltd possess?
Is the statement "The product's position in its life cycle can influence the prices set by suppliers" accurate?
Among the options provided, which standard delineates the prerequisites for a quality management system?
What are the usual motives prompting an organization to implement value analysis? Select TWO that are applicable.
Is the procurement manager's decision justified to incorporate provisions for recovery from natural disasters into a through-life specification, despite some suppliers considering it unnecessary?
What is the systematic method for delineating customer needs and transforming them into technical specifications?
What are the reasons that could lead an organization to acquire an alternative product? Select THREE options that are applicable.
InterHouse Co is extending invitations to several contractors for a tender regarding the construction of a commercial building. Within the tender invitation, there is an attachment containing a document detailing the necessary materials and installation methods. What is this document referred to as?
During which phase of through-life contract management does the procurement team need to identify risk sources and develop mitigation strategies?
What is the innovative technology that is influencing the manufacturing sector?
Jack, a senior buyer at JBZ Construction Ltd, finds his company's procurement workload escalating due to multiple development projects across the country. Manual handling of tasks is resulting in bottlenecks in workflows, overwhelming the procurement team and eliciting complaints from other departments. Drawing from past experiences, Jack recognizes the potential benefits of an electronic system for procurement. Consequently, he drafts a business case advocating for the adoption of an e-system to senior management, emphasizing the potential productivity enhancements. Is Jack's initiative justifiable?
Shiplo Co is expanding its cargo ship fleet and considering constructing a new ship fueled by natural gas. Brian, the procurement manager at Shiplo Co, proposes that the project team should first create a through-life specification before commencing discussions with the supplier. Is this an appropriate course of action?
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