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CIPS L3M2 Exam Questions
- Topic 1: Know techniques that can achieve added value and its contribution to organisational success: Understanding the techniques to achieve added value is crucial for procurement professionals aiming to excel in the L3M2 exam. Topics covered include using methods to obtain supplies that meet purchaser requirements, securing quantity within timescales, and evaluating value for money. Mastery of these topics enhances your ability to contribute to organizational success, a key focus of the exam.
- Topic 2: Know tasks associated with each stage of the sourcing process: This topic prepares you to confidently tackle L3M2 exam questions on establishing procurement needs, creating specifications, sourcing supplies, and forming agreements with external organizations. By understanding these stages, you can effectively manage the procurement process, an essential skill for passing the exam and excelling in the procurement field.
- Topic 3: Understand the significance of ethics for procurement and supply: Ethics is a critical area in procurement, heavily emphasized in the CIPS exam. Here, you will learn about the importance of the CIPS Code of Conduct, the use of ethics codes, and managing conflicts of interest. This knowledge is vital to ensuring ethical decision-making in your procurement role, a key competency assessed in the exam.
- Topic 4: Understand how operational performance of the procurement and supply function can be measured and improved: To pass the L3M2 exam, it is important to grasp methods to measure and improve operational performance in procurement. This includes enhancing customer service, measuring cycle times, and controlling budgets. Mastery of these concepts will help you demonstrate your ability to optimize procurement functions, a crucial aspect of the evaluation criteria of CIPS exam.
Free CIPS L3M2 Exam Actual Questions
Note: Premium Questions for L3M2 were last updated On Apr. 13, 2025 (see below)
The main difference between value engineering and XXXXX XXXXX is that whereas value engineering is applied to new product design at the pre-manufacturing stage, XXXXX XXXXX is applied to established products that are already being manufactured and sold in the market.
Value analysis.
This is simply a distinction between VA and VE.
Individuals, units, teams, groups or organisations that have an influence over procurement, or which are affected by procurement operations, can be called:
The others may be stakeholders, but the answer is 'stakeholders' - those who have a legitimate inter-est in what is going on.
'Expediting' is:
Expediting - a task, which in an ideal world would not normally need to exist - is seeking to ensure delivery is made in line with contract and / or organisational needs.
It has nothing to do with permission to spend, auditing, or preparing for an expedition.
Regarding quality management, how many Sigma?
The answer is 'six'.
Six Sigma is a statistical approach to quality management.
Which two of the following would be unlikely to increase value for money for an organisation?
Suppliers entertain to retain or generate business - there is a cost to this, which is recovered from customers - the antithesis of value for money. Late bids are sometimes related to inflated prices and instances of malpractice. A late bid is extremely unlikely to increase value for money in the long term and is a serious breach of organisational procedure.
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