[Dec-2023] L4M2 PDF Dumps Are Helpful To produce Your Dreams Correct QA’s [Q48-Q63]

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[Dec-2023] L4M2 PDF Dumps Are Helpful To produce Your Dreams Correct QA’s

New L4M2 exam Free Sample Questions to Practice

Q48. What will be the result of retaliation between business rivals in an industry?

Higher exit barrier

More new entrants

Lower profit

Greater bargaining power of suppliers

Q49. Which of the following is a tool to define roles and responsibilities of a project team?

RACI Matrix

Monte Carlo model

STEEPLE Analysis

SCAMPER Method

A responsibility assignment matrix[1] (RAM), also known as RACI matrix[2] (/relsi/) or linear responsibility chart[3] (LRC), describes the participation by various roles in complet-ing tasks or deliverables for a project or business process. RACI is an acronym derived from the four key responsibilities most typically used: responsible, accountable, consulted, and informed.[4] It is used for clarifying and defining roles and responsibilities in cross-functional or departmental projects and processes.[5] There are a number of alternatives to the RACI model.
Role distinction[edit]
There is a distinction between a role and individually identified people: a role is a descriptor of an associated set of tasks; may be performed by many people; and one person can perform many roles. For example, an organization may have ten people who can perform the role of project manager, although traditionally each project only has one project manager at any one time; and a person who is able to perform the role of project manager may also be able to perform the role of business analyst and tester.
R = Responsible (also recommender)Those who do the work to complete the task.[6] There is at least one role with a participation type of responsible, although others can be delegated to assist in the work required (see also RASCI below for separately identifying those who participate in a sup-porting role).
A = Accountable (also approver or final approving authority)The one ultimately answerable for the correct and thorough completion of the deliverable or task, the one who ensures the prerequi-sites of the task are met and who delegates the work to those responsible.[6] In other words, an accountable must sign off (approve) work that responsible provides. There must be only one accountable specified for each task or deliverable.[7] C = Consulted (sometimes consultant or counsel)Those whose opinions are sought, typical-ly subject-matter experts; and with whom there is two-way communication.[6] I = Informed (also informee)Those who are kept up-to-date on progress, often only on completion of the task or deliverable; and with whom there is just one-way communication.[6] Very often the role that is accountable for a task or deliverable may also be responsible for com-pleting it (indicated on the matrix by the task or deliverable having a role accountable for it, but no role responsible for its completion, i.e. it is implied). Outside of this exception, it is generally recommended that each role in the project or process for each task receive, at most, just one of the participation types. Where more than one participation type is shown, this generally implies that participation has not yet been fully resolved, which can impede the value of this technique in clarifying the participation of each role on each task.
Reference:
– CIPS study guide page 17
– Responsibility assignment matrix – Wikipedia
LO 1, AC 1.1

Q50. Royal Navy is preparing a through-life contract. They put to the contract a term on rectification of operational defects and planning and delivery of Fleet Time Support Periods. Which part of through-life requirement does this term belong to?

Installation

In-service support

Manufacture

Customer support

Q51. Which of the following is an advantage of competitive benchmarking over other types of bench-marking?

Limited access to competitor’s data

Similarity among processes

Different corporate culture

Cost effectiveness

Q52. Which of the following is the purpose of benchmarking?

To identify and adapt the best practices to improve organisation’s performance

To copy other organisation’s intellectual properties, processes and practices

To coerce all suppliers to sacrifice their profit

To resist continuous improvement

Q53. Which of the following might be the consequences of under-specification? Select TWO that apply:

Few suppliers can supply the full range of features

Additional cost to rework

Unfit products or services

Poor competition between suppliers

Higher cost due to inessential features

Q54. According to Porter’s value chain, which of the following activities is categorised as support activity?

Product warranties and special services

Storage of raw materials

Distribution of products from factory to retailer

Supervising the production line

Develop digital SRM technology to manage suppliers better

Q55. 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?

Internal benchmarking

Competitive benchmarking

Internal audit

Site visit

Q56. 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?

No, because higher specification may incur additional costs for the buyer

No, because higher requirements in specification, the greater bargaining power of buying organisation

Yes, because optimising the specification is the only method to achieve value for money

Yes, because higher requirements will help buying organisation find the best supplier

Q57. Which of the following is the technology that disrupts traditional retail?

Self-Driving Cars

Blockchain

E-commerce

Robotics

Q58. Which of the following always impact negatively on a company’s cash flow? Select TWO that ap-ply

Increasing revenue

More inventory

Depreciation of fixed asset

Supplier shortens their payment period

Customers agree to pay immediately

Q59. XYZ Ltd is producing an engine which consists of many components. The procurement manager wants to find cost reduction opportunities and minimise part varieties. Which of the following may help her to achieve these objectives?
1. Value analysis
2. Segment analysis
3. Variety reduction
4. Standardisation

2 and 3 only

1 and 3 only

3 and 4 only

1 and 4 only

Q60. Buyers in the same industry with the same understanding of relative value and price may still make different decisions about whether to switch. Which of the following factors may prompt a buying organization to incline toward substitute products?
1. There is potential for backward integration
2. Access to financial resources
3. The switching cost is high
4. The substitute fits organisation’s strategy

1 and 4 only

3 and 4 only

1 and 2 only

2 and 4 only

The threat of substitution is a function of three factors:
* The relative value/ price of a substitute compared to an industry’s product
* The cost of switching to the substitute
* The buyer’s propensity to switch
Buyers with different circumstances and in different industries do not all have equal propensities to substitute when faced with a comparable economic motivation. Differences in their circumstances lead buyers to respond to a given relative value to price (RVP) and switching cost differently. While such differences might be treated as factors that modify RVP or switching costs, it is more helpful in practice to isolate them.
Resources. Substitution often involves up-front investments of capital and other resources. Access to such resources will differ from one buyer to another.
Risk Profile. Buyers often have very different risk profiles, the result of such things as their past history, age and income, ownership structure, background and orientation of management, and nature of competition in their industry. Buyers prone to risk taking are more likely to substitute than buyers that are risk-averse.
Technological Orientation. Buyers experienced with technological change may be less concerned with some kinds of substitution risks, while extremely aware of others that a less technologically sophisticated buyer would be oblivious to.
Previous Substitutions. The second substitution may be easier for a buyer than the first, unless the first substitution has been a failure. The buyer’s uncertainties over undertaking a substitution may have diminished if a past substitution has been successful, or risen if a past substitution has led to difficulties. In the soft drink industry, this seems to have worked to the benefit of aspartame.
Intensity of Rivalry. Buyers under intense competitive pressure and searching for competitive ad-vantage will tend to substitute more quickly to gain a given advantage than those that are not.
Generic Strategy. The RVP of a substitute will have different significance depending on the com-petitive advantage that industrial, commercial, or institutional buyers are seeking or the value of time and particular performance needs of the household buyer. A substitute that offers a cost saving will tend to be of more interest to a cost leader than a differentiator, for example.
Many of these factors that shape the buyer’s propensity to substitute will be a function of the particular decision maker who is involved in the purchase decision.
Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 278-289). Free Press. Kindle Edition.
Reference:
LO 2, AC 2.2

Q61. Which of the following are the fair and reasonable comparators in price analysis? Select TWO that apply:

Pricing formula

Price indices

Strike price

Cost driver

Competitive bidding

Q62. Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating “good quality” in the specification will be enough for quality standard section. Is the procurement manager’s thought appropriate?

Yes, because the specification should be concise.

No, because “good quality” is an in-house jargon that suppliers are not familiar with

Yes, because IT sector has its own standard of quality, therefore, suppliers may deliver good quality without any further Explanation:

No, because “good quality” is very ambiguous for suppliers to identify Sabic’s re-quirement

Q63. Which of the following is an assumption of Kano model?

The relationship between product functionality and customer satisfaction is always linear

Different types of customer requirements have different impact on customer satisfaction

All types of customer requirements have the same impact on customer satisfaction

All customer requirements are basic requirements

Kano model of excitement and basic quality (Kano et al, 1984; Berger et al, 1993; Matzler et al, 1996) brings a different perspective for the analysis of improvement opportunities in products and services because it takes in consideration the asymmetrical and non-linear relationship between performance and satisfaction. The Kano model classifies customers requirements in three categories (figure 3):
a) Basic Requirements. The basic requirements fulfill the basic functions of a product. If they are not present or their performance is insufficient, customers will be extremely dissatisfied. On the other hand, if they are present or have sufficient performance, they don’t bring satisfaction. Customers see them as prerequisites. For instance, for luxury automobiles, “air bags” are considered basic. A customer won’t feel satisfied if the automobile has “air bag”, however he/she will not buy it if “air bag” is not present.
b) Performance Requirements. As for these requirements, satisfaction is proportional to the performance level – the higher the performance, the higher the customer’s satisfaction will be and vice-versa. Gas consumption in automobiles is an example of these requirements. Usually customers explicitly demand performance requirements.
c) Excitement Requirements. These requirements are key to customer satisfaction. If they are pre-sent or have sufficient performance, they will bring superior satisfaction. On the other hand, if they are not present or their performance is insufficient, customers will not get dissatisfied. For instance, a surprise gift at the end of a dinner in a restaurant will certainly bring satisfaction, but it will not cause dissatisfaction if not offered. These requirements are not demanded nor expected by customers.
Two other types of requirements may be identified in the Kano model: neutral and reverse ones. Neutral requirements do not bring either satisfaction or dissatisfaction. Reverse requirements bring more satisfaction if absent than if present.