L4M2 Exam Dumps - Defining Business Needs

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Question # 73

A market has a considerable number of buyers and suppliers. Analysis of the market reveals that loyalty from buyers is relatively low and switching to alternative providers is commonplace. Which of the following market characteristics is supporting this type of buyer behaviour?

Supplier bargaining strength

Barriers to market entry

Increasing use of technology

The availability of substitute products

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Question # 74

Sam has recently joined Spahn Farm Foods (SFF) as a procurement manager. She has instructed her team to develop and distribute a standard specification template for business stakeholders to use when requesting purchases. How would this benefit SFF?

Use of a standard template would prevent fraudulent purchases from being made by stakeholders

Use of a standard template would allow buyers to quickly identify any missing information

Use of a standard template would reduce the amount of negotiation required on the terms and conditions of the contract

Use of a standard template would mean suppliers will be more willing to negotiate on the cost of the product

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Question # 75

A buyer is reviewing the difference between the direct and indirect costs of a supplier's production costs The buyer is unable to reduce the supplier's indirect cost for production. Is this statement true?

No, because overheads always decrease with inflation

No, because a change in the buyer's specification could enable different machinery with a higher utilisation rate to be used

Yes, because the cost of utilities will always increase.

Yes, because the machinery and staff costs don't change over time

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Question # 76

When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?

Installation

Maintenance and repair activities

Customer support

Manufacture

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Question # 77

Which of these are advantages of using a conformance specification? Select TWO that apply.

It enables supplier flexibility and product innovation

It enables value-for-money solutions

It forces consideration of actual product needs

It provides evidence of requirements if there is a dispute

There is a smaller supplier base to select from

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Question # 78

A CPO is analyzing whole life cycle costing of a machinery. He realises that cost elements are not specific but come from a range of values. Which whole-life costing model should the CPO use to get the most accurate total cost of ownership?

Simulation models

Optimisation models

Decision support models

Kraljic's preferencing model

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Question # 79

Rachel has issued a specification for spare parts out to global suppliers. Rachel has asked for these parts to carry a standard from the International Organisation for Standardisation. Is Rachel right to do this?

No, as these standards don't apply to spare parts

No, as this standard will not be recognised outside of the UK

Yes, as it is an appropriate and recognised standard

Yes, as spare parts are the only things these standards apply to

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