Cips l4m2 exam questions Study guides, Class notes & Summaries

CIPS L4M2 Defining Business Need Exam Questions With 100% Correct Answers Types of Purchases new buy, straight rebuy, modified rebuy Straight rebuy purchase Routine purchases of the same products under approximately the same terms of sale Modified rebuy purchase When new-task purchases are changed on repeat orders or straight rebuy purchases are modified New purchase A purchase of an item for the first time Examples of straight rebuy purchases Utilities (gas, water, electricity) MRO ...

CIPS L4M2 Defining Business Need Exam Questions With 100% Correct Answers Fixed Cost (FC) Costs that remain the same irrespective of business activity or volume Variable Cost (VC) Costs that vary with the level of output Market Factors Objectives Drivers Governance Ownership Commodity or Non-Commodity Break-Even Point (BEP) When total costs are equivalent to sales revenue (after this, it is profit) Solving a Problem SCAMPER Substitute Combine Adapt Modify Put to other uses E...

CIPS L4M2 Exam Questions with Verified Answers 2024 Re-buy - ️️ -It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier is in place Modified Buy - ️️ -Review of existing contract requirements and making any necessary amendments such as to build additional benefits, streamline the business or to establish new KPIs/SLAs. Where some of the specification or requirements have changed. New Buy - ️️ -A new pu...

Re-buy - It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier is in place Modified Buy - Review of existing contract requirements and making any necessary amendments such as to build additional benefits, streamline the business or to establish new KPIs/SLAs. Where some of the specification or requirements have changed. New Buy - A new purchase outlines requirements that have not been specified before. There is a h...