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CIPS – Defining Business Needs L4M2 paper 9.
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1.
The primary advantage of implementing standards in a specification is:
2.
Researching market trends can enhance negotiations with suppliers by giving the buyer:
3.
Which competitive factors impact modern market environments?
4.
A supermarket is investing in e-procurement to strengthen its supply chain for daily consumer stock. How can e-procurement help control spending and achieve this objective?
5.
An architectural firm is designing a new school. They need precise material specifications for the science lab but want flexibility for the classrooms to use sustainable materials. Which specification type is best for the science lab?
6.
Which factors negatively affect cash flow?
7.
Which situation gives the buyer the greatest leverage in negotiations?
8.
Comparing projected costs with actual costs is known as:
9.
Which factors are threats to substitutes in Porter's Five Forces model?
10.
When buyers analyze prices using primary and secondary market data sources, which of the following is a secondary source?
11.
The buyer at Company Z is considering using conformance specifications for a new technical requirement. To apply this approach effectively, the buyer must understand that:
12.
One drawback of using standards is that:
13.
The marketing function plays a role in specification development by:
14.
Using international standards is beneficial when:
15.
Alex, a new buyer at Fish Industries, has been instructed to negotiate with suppliers to extend their payment terms from 30 to 60 days. Why would FI want to extend these terms?
16.
John, a buyer at Pickton’s Farm Products, is sourcing raw materials from local farmers. What major supply chain risk should John be mindful of in this market?
17.
The difference between value analysis and value engineering is:
18.
Sourcing from a monopolistic supplier has which disadvantage?
19.
The buyer’s database is a primary data source. Which of the following is another example of primary data?
20.
A benefit of using performance specifications is that:
21.
A Tunnel builder requested a sustainable, low-carbon cladding material within a competitive budget. Who is the key internal stakeholder in defining this business requirement?
22.
Which of these are variable costs? Select two that apply
23.
Suppliers hold power in the following situations: Select two that appy
24.
Material cost variances may occur:
25.
Threats of new entrants in market competition can be described as:
26.
What allows established companies to gain a competitive edge over new market entrants?
27.
If established suppliers in a market initiate a price war, is it considered competitive rivalry?
29.
Which are the benefits of using conformance specifications? Choose two:
30.
Which of these purchases for a furniture manufacturer are direct costs?
