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Higher Test Marks with Free Online L4M2 Exam Practice

Assess the CertsIQ’s updated L4M2 exam questions for free online practice of your Defining Business Needs test. Our CIPS Level 4 Diploma in Procurement and Supply L4M2 dumps questions will enhance your chances of passing the CIPS Certification certification exam with higher marks.

Exam Code: L4M2
Exam Questions: 367
Defining Business Needs
Updated: 15 Apr, 2026
Question 1

CPO of Vestas, a wind turbine maker, devises a business case to win the key market in Latin America by developing market-specific strategies. To appeal senior management and directors, the CPO embeds the ways in which more outputs are generated with the same input and how to manage the potential hazards. Which of the following are elements that CPO uses to please the senior management and board of directors? Select TWO that apply.

Options :
Answer: B,D
Question 2

Andrew is responsible for procurement of capital assets at Lumber Ltd. He is devising new business case for the purchase of a new band saw. The purchase price of the saw is $50,000. Andrew estimates that the machine will generate $10,000 per year of net cash flow. What is the payback period of this band saw?

Options :
Answer: B
Question 3

A procurement manager needs to identify business requirements in terms of outputs and functions to give potential suppliers the opportunity to propose innovative solutions or to simply to be more creative in their proposals. Which of the following models should be used by procurement manager?

Options :
Answer: C
Question 4

Which of the following standards specifies requirements for a quality management system?

Options :
Answer: A
Question 5

EV Inc is facing the following challenges:
1. The capital investment is enormous.
2. Most of company's working capital is in form of inventories, which include raw materials, work-in-progress and finished goods.
3. Competitors are increasingly deploying robotics and automation to boost productivity.
Which of the below business sectors does EV Inc belong to?

Options :
Answer: B
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