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CIPS Defining Business Needs Sample Questions (Q170-Q175):

NEW QUESTION # 170
The procurement team of a global supermarket has created a business case for a corporate social responsibility (CSR) sourcing strategy to meet the corporate objective of sustainability. This would require sourcing only from suppliers who meet ethical standards, a reduction in plastic, and using recycled material where possible. Which of the following business benefits would be mentioned in the business case? Select TWO that apply:

A. Improved brand equity
B. Increased capacity
C. Reduced cost
D. Fulfilment of a business objective
E. Leverage of technology

Answer: A,D

Explanation:
Detailed Explanation:
* A (Fulfilment of business objective): Aligning procurement practices with sustainability goals supports the overall corporate strategy.
* D (Improved brand equity): Sustainable practices enhance reputation and consumer trust.Other options, like increased capacity or reduced costs, are secondary or unrelated to CSR initiatives.
Reference: CIPS Level 4, CSR and Sustainability.

NEW QUESTION # 171
A company uses eight different floor cleaning products at different premises and has decided to standardise on just one. This product is available from a large number of suppliers. What benefits should the company expect to achieve?

A. Increased stock levels
B. Increased costs
C. Lower costs
D. Fewer staff

Answer: C

Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) Standardising from many similar products to one common product is a classic variety reduction / standardisation decision.
In CIPS L4M2, when standardisation is discussed, the benefits highlighted include:
* Economies of scale - buying larger quantities of a single product allows for better prices and volume discounts.
* Reduced administration and handling costs - only one product code to manage, fewer invoices and orders, simpler stock control.
* Simplified quality control - one specification and one performance profile to monitor.
Because the product is available from many suppliers, competition remains strong. This supports lower prices, not higher.
* Option A (Lower costs) - correct, due to economies of scale and reduced process/handling complexity.
* Option B (Fewer staff) - staff numbers are driven by overall workload, not just the number of product variants; standardising doesn't automatically cut headcount.
* Option C (Increased stock levels) - if anything, standardisation often reduces safety stock (you can pool demand into one line).
* Option D (Increased costs) - contradicts the expected benefits of standardisation and competition between many suppliers.
Relevant CIPS L4M2 areas:
* Standardisation and variety reduction in specifications
* Economies of scale and cost drivers in sourcing decisions
* Managing supply markets with multiple potential suppliers

NEW QUESTION # 172
A global manufacturer is struggling to compete with rival firms investing heavily in advanced robotics. This would be the biggest barrier to entry in which market?

A. Finance
B. Aerospace
C. Insurance
D. Hospitality

Answer: B

Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Market Entry Barriers) Aerospace manufacturing demands high capital investment (robotics, technology, safety).
This creates a strong barrier to entry, limiting new competitors.
Industries like hospitality or insurance require far less fixed investment.
Relevant L4M2 references:
* "Capital intensity and technological barriers in markets"
* "Examples of entry barriers in industrial sectors"

NEW QUESTION # 173
Dana is an automobile manufacturer. It has a new electrification strategy that aims at making eco-friendly electric pick-up trucks. To implement this strategy, the procurement department must source new categories of parts that make motors, sensors, solenoids and stators. He starts to analyse the market by identifying specific supply market segments for those parts and finding suppliers who have the best capabilities in those segment. He intends to segment the market based on specific features of the products. Which variable is used by Dana procurement manager to shape and manage supply market?

A. Geographical segments
B. Product segments
C. Buyer segments
D. Channel segments

Answer: B

Explanation:
In sales and marketing, market segmentation is the process of trying to understand clusters of cus-tomers in terms of their buying behavior and their buying characteristics. There are some traditional segmentation approaches: geography, demography, types of industry and the benefits. Then there are newer segmentation approaches: behavioral, situational, and psychographic.
Procurement professionals can learn market segmentation from sales and marketing. Segmenting the market can help them to shape and manage the supply market effectively. According to Michael Porter, a market can be segment with array of products and buyers.

Source: Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 234). Free Press. Kindle Edition.
In the scenario, the products that Dana needs to source is distinct in their features. The best way is to segment the market by product varieties.
Reference:
LO 2, AC 2.1

NEW QUESTION # 174
Which of the following can cause overhead variance? Select TWO that apply:

A. Spike in monthly leasing fee
B. Decreasing packaging costs
C. Spike in material price
D. Decrease in production volume
E. Rising production worker's wage rate per hour

Answer: A,D

Explanation:
Overhead variances arise when the actual overhead costs incurred differ from the expected amounts.
Managers want to understand the reasons for these differences, and so should consider computing one or more of the overhead variances described below. Each of these variances applies to a different aspect of overhead expenditures. It is not necessary to calculate these variances when a manager cannot influence their outcome.
Fixed Overhead Spending Variance
The fixed overhead spending variance is the difference between the actual fixed overhead expense incurred and the budgeted fixed overhead expense. An unfavorable variance means that actual fixed overhead expenses were greater than anticipated. The formula for this variance is:
Actual fixed overhead - Budgeted fixed overhead = Fixed overhead spending variance The amount of expense related to fixed overhead should (as the name implies) be relatively fixed, and so the fixed overhead spending variance should not theoretically vary much from the budget.
Fixed Overhead Volume Variance
The fixed overhead volume variance is the difference between the amount of fixed overhead actually applied to produced goods based on production volume, and the amount that was budgeted to be applied to produced goods. For example, a company budgets for the allocation of $25,000 of fixed overhead costs to produced goods at the rate of $50 per unit produced, with the expectation that 500 units will be produced. However, the actual number of units produced is 600, so a total of $30,000 of fixed overhead costs are allocated. This creates a fixed overhead volume variance of $5,000.
Variable Overhead Efficiency Variance
The variable overhead efficiency variance is the difference between the actual and budgeted hours worked, which are then applied to the standard variable overhead rate per hour. The formula is:
Standard overhead rate x (Actual hours - Standard hours)
= Variable overhead efficiency variance
A favorable variance means that the actual hours worked were less than the budgeted hours, resulting in the application of the standard overhead rate across fewer hours, resulting in less expense being incurred.
However, a favorable variance does not necessarily mean that a company has incurred less actual overhead, it simply means that there was an improvement in the allocation base what was used to apply overhead.
Variable Overhead Spending Variance
The variable overhead spending variance is the difference between the actual and budgeted rates of spending on variable overhead. The variance is used to focus attention on those overhead costs that vary from expectations. The formula is:
Actual hours worked x (Actual overhead rate - standard overhead rate)
= Variable overhead spending variance
A favorable variance means that the actual variable overhead expenses incurred per labor hour were less than expected.
In the study guide, CIPS splits overhead variance into volume and expenditure variance. They can be understood as variable and fixed overhead variance respectively.

NEW QUESTION # 175
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