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Free PDF Quiz CIPS - L4M2 - Updated Reliable Defining Business Needs Test Questions

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CIPS Defining Business Needs Sample Questions (Q116-Q121):

NEW QUESTION # 116
Dana is an automobile manufacturer. It has a new electrification strategy that aims at making eco-friendly electric pick-up trucks. To implement this strategy, the procurement department must source new categories of parts that make motors, sensors, solenoids and stators. He starts to analyse the market by identifying specific supply market segments for those parts and finding suppliers who have the best capabilities in those segment. He intends to segment the market based on specific features of the products. Which variable is used by Dana procurement manager to shape and manage supply market?

A. Channel segments
B. Buyer segments
C. Geographical segments
D. Product segments

Answer: D

Explanation:
In sales and marketing, market segmentation is the process of trying to understand clusters of cus-tomers in terms of their buying behavior and their buying characteristics. There are some traditional segmentation approaches: geography, demography, types of industry and the benefits. Then there are newer segmentation approaches: behavioral, situational, and psychographic.
Procurement professionals can learn market segmentation from sales and marketing. Segmenting the market can help them to shape and manage the supply market effectively. According to Michael Porter, a market can be segment with array of products and buyers.

Source: Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 234). Free Press. Kindle Edition.
In the scenario, the products that Dana needs to source is distinct in their features. The best way is to segment the market by product varieties.
Reference:
LO 2, AC 2.1

NEW QUESTION # 117
ABC Ltd has enormous investment in facilities and machinery. It also employs skilled workforce. To be profitable, the company has to produce at massive quantity. Which sector does ABC Ltd belong to?

A. Agriculture
B. Retail
C. Finance
D. Construction
E. Manufacturing

Answer: E

Explanation:
In the scenario, ABC Ltd has the following characteristics:
- Large investment in facilities and machinery
- Access to skilled workforce
- Mass production.
This company is a manufacturer. Manufacturing is an industry that makes products from raw ma-terials by the use of manual labour or machinery and that is usually carried out systematically with a division of labour.
Manufacturing requires investment in machinery and access to a suitably skilled workforce as well as materials and components.
Reference:
- CIPS study guide page 74-76
- manufacturing | Definition, Types, & Facts | Britannica
LO 2, AC 2.1

NEW QUESTION # 118
Which of the following might be the consequences of under-specification? Select TWO that apply:

A. Unfit products or services
B. Higher cost due to inessential features
C. Poor competition between suppliers
D. Additional cost to rework
E. Few suppliers can supply the full range of features

Answer: A,D

Explanation:
Main risks involved in an under-specified requirement
* The product or service is not fit for use since it does not match the actual needs
* Higher cost due to corrections or reworks (proposal evaluations, scope or work monitoring, change in insulation materials or systems, reduced productivity, etc.).
* Higher operating cost on many fronts: process control, energy consumption, maintenance, etc.
* Other problems like corrosion under insulation, mold development, safety-related concerns, etc.
LO 3, AC 3.3

NEW QUESTION # 119
Which of the following is the disadvantage of embedding standards in a specification?

A. Standards are too static and discourage innovation
B. Embedding standards into specification requires enormous time and effort
C. Standards do not improving buyer's bargaining power
D. Standards are too flexible and may cause ambiguity in the specification

Answer: A

Explanation:
"Standards are often produced by professional bodies (maybe national or international bodies). Standards tend to be stable for a period of time, therefore, they are likely to be static and discourage innovation." Reference:
LO 3, AC 3.1

NEW QUESTION # 120
Which of the following methods will enable a company to eliminate waste, lost time and lost material from its processes?

A. Over specification
B. Tendering process for routine items
C. Agile principles
D. Lean principles

Answer: D

Explanation:
Lean design is about maximising the value that a customer receives and at the same time minimis-ing waste in delivering that value.
For an organisation to be 'lean' it must have had all non-essential resources removed (ie. anything that does not add value, see below). This is efficient and cost effective, in that the value/supply chain can theoretically do exactly what is needed of it and no more, but requires sound forecasting and planning of demand and supply. It is most suitable for industries with stable product specifications, long lead times and few impulse purchases.
Organisations which are 'agile' react as quickly as is practicable to provide a cost effective response to customer demand. This is based on flexibility in design, supply, production and distribution. It is most appropriate for products such as fast fashion and foodstuffs which must be on display and available when wanted by the customer.
Reference:
- CIPS study guide page 153-156
- Agile Supply (cips.org)
LO 3, AC 3.3

NEW QUESTION # 121
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