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CIPS CIPS Level 4 Diploma in Procurement and Supply L4M2

Product Description

Exam Code:L4M2

Exam Name:Defining Business Needs

Q&A:238 Q&As

Updated: 02-21-2025

Number:

ExamGood CIPS L4M2 preparation material provides you everything you will need to take your L4M2 certification exam. Download the latest Defining Business Needs L4M2 certification exam from Examgood.com.

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ExamGood L4M2 Exam Features

L4M2: Defining Business Need

Module Purpose

Upon completing this module, learners will be equipped to create a business case for external sourcing requirements and will comprehend the role of market management and competitive forces in specifying goods and services in procurement and supply.

Module aim(s)

The development of a business case, market analysis, and clear definition of specifications for through-life contracts are crucial for successful collaboration with external suppliers. The module is designed for those expected to analyse and evaluate information on different market types used by procurement and supply. It explores elements underpinning the development of business cases and specifications and considers options when procurement and supply personnel define requirements.

Next steps

By starting a CIPS qualification programme, you'll join the world's largest institute for those in the procurement and supply field. You can join as a student member online today. Once you've joined, you can book your examinations online.

1.0 Understand how to develop a business case for requirements to be sourced from external suppliers

1.1 Analyse how business needs influence procurement and supply decisions

1.2 Identify how costs and prices can be estimated for procurement activities

1.3 Analyse the criteria that can be applied in the development of a business case

1.4 Interpretation of financial budgets and cost models for the control of purchases

2.0 Understand market management in procurement and supply

2.1 Analyse the consideration for procurement and supply when working with different markets

2.2 Compare the competitive forces that influence markets

2.3 Contrast direct costs and indirect costs. Consider the types of data that can provide information on cost and price

3.0 Understand the use of specifications in procurement and supply

3.1 Analyse the types of specifications used in procurement and supply, and sources of information that can be used to create them

3.2 Identify sections used in developing specifications supporting procurement and supply arrangements

3.3 Identify the risks that can result from inadequate specifications and mitigation approaches

3.4 Identify opportunities to review and enhance specifications in the short and longer term

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