Practice CIPS L4M2 Exam Questions

The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct?

A CPO is making a business case for acquiring a new computer system. He has set out objective, generated options, cost and benefit of each option and implementation plan. Which of the following elements should be included in the business case?

What is the document that defines the activities, deliverables and timelines a supplier must carry out during contract performance?

A procurement manager is writing a conformance specification for a non - core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost - savings. Is the procurement manager’s opinion correct?

British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly. Which of the following will be the most appropriate managing approach to procure these items?