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CIPS Defining Business Needs Sample Questions (Q71-Q76):

NEW QUESTION # 71
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?

A. Internal benchmarking
B. Internal audit
C. Site visit
D. Competitive benchmarking

Answer: A

Explanation:
Basically, IKEA project team is undertaking the following process:
A picture containing text, businesscard Description automatically generated

This is a typical benchmarking process. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
In the scenario, benchmarking process is undertaken within subsidiaries of IKEA, thus it is internal.

NEW QUESTION # 72
Lider Ltd is a leading bathroom furniture manufacturer in India. The company has more than 30 years experience in the market with extended knowledge of engineering and customers' taste. Lider is planning to launch a new type of bath fitting next year which offers Bluetooth connectivity and thermostat display. The company gathers a team of multi-disciplines, including engineering, procurement, sales and marketing. At the first team meeting, the project leader tells the team to discuss which functions will be valued by the customers, and how to deliver those functions with the lowest costs possible. Which of the following describes the process that the project team is undertaking?

A. Value engineering
B. Just in time
C. Cost analysis
D. Standardisation

Answer: A

Explanation:
From the scenario, you can see that the project team is developing a new product. They start with analysing the functions, and the costs of delivering those functions. This is a typical process of value engineering. You may read more on value engineering from the reference paper.

NEW QUESTION # 73
Which of the following are major factors when determining the bargaining power of buyers? Select THREE that apply.

A. Cash flow
B. Switching costs
C. Number of buyers relative to suppliers
D. Life cycle costs
E. Interest costs
F. Dependence of a buyer's purchase on a particular supplier

Answer: B,C,F

NEW QUESTION # 74
Aircraft Category Manager, Harpal Patel, is purchasing several aircraft engines. He is seeking to determine which category of specification will be most appropriate. He decides on using a conformance-based specification. A conformance-based specification is most appropriate in which one of the following instances?

A. Where suppliers have greater relevant technical expertise than the buyer
B. When technical dimensions are necessary for operational reasons
C. When technology is changing rapidly in the market sector
D. Where there are clear objective criteria for evaluating alternative solutions put forward by suppliers

Answer: B

NEW QUESTION # 75
A procurement manager has noticed that profitability within a market has increased steadily over the years. In addition, the market is relatively easy to enter, and demand within the market is predicted to remain high.
Which of the following is likely to happen in this particular market as a direct consequence of these factors?

A. Buyers will switch to a different market
B. Suppliers will invest more heavily in technology
C. The regulator will intervene and establish pricing controls
D. The market will attract new entrants

Answer: D

NEW QUESTION # 76
......

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Free L4M2 Brain Dumps, L4M2 Best Preparation Materials

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CIPS Defining Business Needs Sample Questions (Q71-Q76):

Quiz 2025 CIPS - L4M2 - Free Defining Business Needs Brain Dumps

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