REVISE CIPS L4M2 KEY TOPICS & PRACTICE EXAM QUESTIONS

Summary

In this training session led by Evocurement, the focus was on revising key topics for the CIPS Level 4 Module 2 exams, alongside a practice exam questions session. The event kicked off with New Year greetings and encouragement for exam success in 2025. Participants were guided through essential concepts such as cost and price analysis, cash flow and budgeting, and industry analysis tools, like Porter's Five Forces. The session also included specification techniques and practical exam questions, culminating in interactive answering rounds with prizes like Netflix gift codes and educational resources.

Highlights

• Kicked off with a motivational message for the New Year 2025 and exam success! 🎉
• Focused on cost and price analysis, including the difference between direct, indirect, fixed, and variable costs! 📊
• Explored cash flow strategies by emphasizing the importance of managing inflows and outflows effectively! 💰
• Reviewed Porter's Five Forces model to understand industry competitiveness and market dynamics! 🌟
• Detailed specification methodologies, highlighting performance and conformance types! 🛠
• Concluded with a thrilling practice exam session with prizes like Netflix codes and educational tests! 🏅

Key Takeaways

• Understanding cost and price distinctions, such as direct vs. indirect and fixed vs. variable costs, is crucial for the CIPS L4M2 exam! 🤑
• Cash flow management is key to business sustainability. Positive cash flow requires strategic inflows and outflows handling! 💸
• Industry analysis, including tools like Porter’s Five Forces, helps in understanding market dynamics and supplier relationships. 🔍
• Specification types, like performance vs. conformance, play a vital role in procurement documentation! 📜
• Interactive learning with practice questions enhances exam readiness and was a fun part of the session! 🏆

Overview

The Evocurement session was a lively and informative preparation event for the CIPS Level 4 Module 2 exams, blending educational insights with a competitive edge. Participants were welcomed warmly into the new year and motivated to strive for success in their upcoming exams, setting the tone for a comprehensive review of critical exam topics.

Key topics included in the review were the intricate details of cost and price management, fundamental strategies in cash flow and budgeting, and the application of industry analysis tools such as Porter's Five Forces. These topics were discussed with an emphasis on practical applications and understanding, fostering an engaging learning environment.

The session ended on an exciting note with practice exam questions. Participants eagerly competed in answering with speed and accuracy, enticing them with rewards like Netflix gift codes and access to specialized educational tests. This engaging element not only reinforced learning but also added a fun twist to traditional study methods.

Chapters

• 00:00 - 01:00: Introduction and Overview The chapter begins with a greeting and a New Year's wish for success to the participants in 2025, particularly in passing all exams related to SE qualification. It sets a positive tone for the new year and emphasizes preparation for the March exam series, marking the first event of 2025.
• 01:00 - 03:00: Key Topics in FM2 The chapter titled 'Key Topics in FM2' focuses on essential topics that are important to understand before taking the final exam. The session includes a small engagement game, where participants can answer questions. Correct answers may lead to rewards. The main emphasis is on revisiting the key subjects within FM2 to ensure readiness for the exam.
• 03:00 - 06:00: Cost and Price Analysis The chapter titled 'Cost and Price Analysis' provides an overview of methodologies related to budgeting and analyzing costs and prices within industries. Throughout this lecture, the instructor touches upon key elements such as constructing cost and price budgets, managing cash flows, and conducting industry analysis through tools like Porter's Five Forces. Additionally, the discussion includes attributes of industry features and the specifics of type specifications, though some details remain truncated due to incomplete transcript information.
• 06:00 - 12:00: Cash Flow and Budget The chapter titled 'Cash Flow and Budget' focuses on improvement strategies in the context of cash flow management and budgeting. The discussion includes key topics that will be reviewed to enhance understanding in these areas. The chapter likely ends with eight questions that test comprehension of the material, and there is an emphasis on the importance of certain topics as informed by the instructor's experience and student feedback. This suggests a practical approach, aligning theoretical knowledge with real-world application, particularly highlighting elements deemed significant in the F2 category.
• 12:00 - 17:00: Industry Analysis Tools This chapter provides an overview of industry analysis tools, particularly focusing on cost and price specifications. It addresses common questions about costs, including basic classifications such as direct versus indirect costs and fixed versus variable costs.
• 17:00 - 24:00: Specification Types and Improvement The chapter discusses the basics of cost and price analysis, focusing on understanding the breakdown between direct and indirect costs. Direct costs are those associated with the product directly, such as material and direct labor costs. Indirect costs, on the other hand, pertain to other expenses not directly tied to the product.
• 24:00 - 31:00: Practice Exam Questions The chapter titled 'Practice Exam Questions' discusses the concepts of fixed and variable costs in administration and overhead. Fixed costs remain constant regardless of the production level, while variable costs fluctuate with changes in output. The focus is on understanding how these costs behave in relation to production.
• 31:00 - 32:30: Conclusion and Closing Remarks This chapter discusses the importance of distinguishing between direct and indirect costs in financial analysis. It emphasizes that while price analysis is relatively straightforward, analyzing overall costs requires a deeper understanding of various factors. The chapter encourages a thorough comparison of supplier prices to ensure the best value.

REVISE CIPS L4M2 KEY TOPICS & PRACTICE EXAM QUESTIONS Transcription

• 00:00 - 00:30 now uh today uh let's come back to uh the revision and first of all uh Happy New Year uh I wish that all of you all the participants today will have very successful uh 2025 including passing all the exams in uh SE qualification okay good luck with that so let's prepare for March exam series and today um it marks the um first uh event for 2025 and we
• 00:30 - 01:00 devote this event to fm2 about a few key topics that you need to know before you see the exam so um today uh we shall also have a small engagement game we shall have a few questions and if you answer them correctly then you may have a chance to receive our reward uh but before that let's review the key topics in uh fm2 so
• 01:00 - 01:30 uh you can see that the list topic uh is well presented on the screen at the bottom okay so uh today we shall uh review on the cost and price budget and cash flow um industry analysis like the feature of few industry the uh uh tools like the portal five forces uh specification uh the type specication and um speci
• 01:30 - 02:00 Improvement all right so uh they are the key topics that we shall review and uh at the end then we have eight questions and uh um we shall see that if you can answer all okay so first let's review uh what will be important in F2 um according to my experience and uh to from student feedback then many questions from from
• 02:00 - 02:30 fm2 are about actually most question are about specification and related to F but uh we also have very common question on um cost and price um and these question tend to be very basic especially on uh classifying a few type cost like the difference between direct indirect cost and fix as well as variable cost
• 02:30 - 03:00 uh with the cost and price analysis then first we need to know the basic breakdown of the cost we have the uh um direct and indirect cost so direct cost are the cost that associate with the uh and product directly like the material or the uh direct label cost and indirect cost are related to the uh uh the other one um the rest of the cost like uh
• 03:00 - 03:30 Administration and overhead uh on other hand we can ciz them into fix and variable so fixed cost are stated fixed cost are stated regardless of the uh uh output regardless of the production level but uh variable cost are um they change according to the uh um the the chain uh according to the output so the basic
• 03:30 - 04:00 question here could be like you need to distinguish between or you need select the what are direct or indirect cost in certain question and um more importantly uh with this eror then you need to know about like uh how to analyze the cost and price price is quite straightforward to compare or to analyze we just need to compare the price uh from one supplier to another
• 04:00 - 04:30 uh we can just compare from one supplier to another that is that is already price analysis but with cost analysis then we need to analyze the break down and we need to know uh what will be uh what are the structure what is the structure of the cost and uh what could be the fair price for this certain product
• 04:30 - 05:00 so um there are many ways to um uh analyze the cost and the price and uh in the stud guide you can see that there a very keight uh I I think this one is pretty complex um table about all Matrix about the different cost and price analysis we could have the uh open costing or the whole life cycle cost uh the H life cost where we analyze the uh
• 05:00 - 05:30 different elements in in the useful life or assess uh but we could have more simple method like uh comp competive bits or Price analysis or Price Index simply just compare the price that the supp submitted with other Benchmark and uh with cost analysis then we would have the
• 05:30 - 06:00 um should cost analysis or the cost analysis or cost breakdown where we look at their cost structure and um how to improve them all right so uh for this one then um the typical question would be about like what are direct or what are in cost in certain era or in certain industry three uh very straightforward and but
• 06:00 - 06:30 you need to know um how to analyze the question there and uh how to analyze the answer um the second topic is about the cash flow and budget with the cash flow then you need to know what are the uh what what can create the inflow and outflow and what could be what could impact uh on the cash flow so cash flow is like the um life blood of a business so uh we need
• 06:30 - 07:00 to generate the positive cash flow in the long run and the cash flow could be generated from sale like we may collect the money from the customer but the sale alone is not um generating cash flow we could have some customer who may want to have the uh um to buy on credit but uh they may want to delay the payment very long so uh the revenue alone or the sale loone could not uh Ure that you have
• 07:00 - 07:30 positive cash flow but you need to speed up the collection we also have the cash flow from investment or receive uh some support from the bank uh on other hand then uh the outflow may be generated from the payment to the supplier or from the Wes that you pay to the uh employees and the tax as well so um to survive as a business and to generate the positive
• 07:30 - 08:00 cash flow we need to have larger inflow and smaller outlow to do that then you need speed up collection and um delay as long as possible with the payment so uh with the cash flow then to improve that you need to like we have a few ways like to um uh improve your inventory measurement because a lot of cash and uh a lot of uh liquidity is
• 08:00 - 08:30 tied into uh inventory so we need to manage that more effectively uh second then we may need to speed up the collection from the customer like uh just um like shorten down or shorten on that payment period from 45 days to 30 days or may use some uh other ways of getting the credit like uh facturing and uh we may delay the payment to the supplier or to the employee or in the
• 08:30 - 09:00 same way so uh with the cash flow then uh as procurement professional then you need to advise your company uh to improve the cash flow uh and with this error then um the question could be like uh what could have the positive or negative impact on cash flow and uh also with with this first
• 09:00 - 09:30 chapter oh sorry I see that someone draw on my screen so I need to remove that right that's better also uh in this era we also have a few other topics like about the budget uh budget is about how we plan for finance and especially for uh income and
• 09:30 - 10:00 expense and um the plan could be made in different ways unfortunately in sayi they don't introduce very well and um they often miss of some very basic uh knowledge about how to make budget so here uh I'm introducing a few ways to make a budget including the uh uh incre incremental budget where we take the number or the stat itic from the
• 10:00 - 10:30 previous year to this year and add a few percentage to on top to have some adjustment or we could be more flexible and uh adopt the zero base budget where we uh plan what kind activities will be done next year and uh we build the budget accordingly and uh finally uh we have a very flexible budget that is rolling so so with rolling then um the
• 10:30 - 11:00 the objective here is to have all the way to have like um a period of time ahead like uh 12 months or 18 months okay so after we I I may set the budget for 2025 and then um after the first month of 2025 I also want to have all the way 12 months ahead so I add um the January of 2026 to my budget very
• 11:00 - 11:30 rolling we all um expand the budget expand the period okay so that uh we always plan ahead and that could be a very good way to be uh to work and uh another important topic for this one is about the variance uh variance is the difference
• 11:30 - 12:00 uh between the budget and the actual expand so uh we rarely do something with uh we rarely make the budget with uh 100% of accuracy so variance is like uh variance is like very natural and therefore um when when we have variant it is absolutely normal but we also need to keep them managed uh when some variance arise then we need to um manage
• 12:00 - 12:30 them by addressing our our um our yeah sorry uh addressing our span and expand and also to adjust the uh um to adjust the uh activities accordingly if the activity is quite over but the budget then we need to address that and find the uh root cost for the variance so uh
• 12:30 - 13:00 with variance then um the more important thing is not the variance but uh the reasons of varant uh to facilitate uh to facilitate the measurement of variance then they divide uh variance into three types we could have the direct span variance where the variance could be could arise from uh either init price we could have different unit price price from the time of budget to the time of
• 13:00 - 13:30 payment okay so that may cost variance or we could have the variance in the quantity uh we may need to purchase more than what we plan for uh there could be variance in Labor uh where we may have the uh cost from um the rate per hour or uh we could the workers need to work longer hour to finish a certain task so we need to pay more for labor okay so
• 13:30 - 14:00 that is another variance and for the overhead then the variance could be from the volume um the more volume then the overhead per unit could be lower or we if we need to expand the capacity then uh that could mean we need to uh have higher level of overhead and finally then overhead could be changing uh due
• 14:00 - 14:30 to the uh um expenditure like uh your like the L uh may rise the rate for rent so that could uh be uh another variance another cost for overhead variance uh with uh chapter two uh with learning
• 14:30 - 15:00 outcome two then we could have a few question about uh some certain industry like manufacturing construction or finance and the uh market analysis tools like the part of five forces or product life cycle so due to lack of time today I only plan for 1 hour and leave the room for the question so we shall look at the features of few industry and and
• 15:00 - 15:30 um the uh uh most important tool here that is pter five forces uh with the industry then uh in the exam you may see the question uh that describe certain um that describe certain industry or certain company and uh the requirement is that uh what could be the uh industry for uh what industry that or what industry that company belong to so so we need to understand
• 15:30 - 16:00 some key features of uh a fi industry like uh manufacturing or construction and finance also retails and other uh branches of Industry uh for manufacturing then uh it is an industry with very high uh barer to entry like uh it require a large initial investment and uh to be uh
• 16:00 - 16:30 profitable then they need to reach the economy scale um and the profit margin for this industry is uh cap like average okay ranging from 5 to 20% depending on the specific uh industry and um the uh manufacturing um has some cap like competitiveness like like uh it has very uh very huge
• 16:30 - 17:00 pressure to um like very huge pressure to improve and Innovative because uh some certain industry uh certain uh certain eras in manufacturing is involving very fast like um like electronics and uh uh telecommunication they tend to evolve in very fast and uh the competitors in this
• 17:00 - 17:30 industry must adapt to the change uh otherwise then um manufacturing also have very complex web of Regulation especially to uh how and safety um with Finance then um they tend to be very profitable um setor with the profit margin from 10 to 25% and uh with and with this uh with stup
• 17:30 - 18:00 then um they also have some bar to entry but mostly about the regulations and about the liquidity so uh Finance is quite profitable but um also we need to have some uh we need to fulfill some uh certain requirement uh to join this one and uh for supplier in this era then they tend to be specialized in certain
• 18:00 - 18:30 matter like in U banking or in uh investment and so on uh with construction then it is Cap like um very different from uh manufacturing where uh the profit margin is much thinner uh around 6% around 6% or even as low as 2% so uh
• 18:30 - 19:00 that is very low and uh for construction then the cost for most of the cost would be involving the uh delivery of the project like hiring the equipment and the workers for the constrution side uh in this industry then they also require significant investment in equipment material and label and um they so require the uh good and um yeah high
• 19:00 - 19:30 level of relip with the customer so uh in the exam you may see a few question here like about um the industry that have the following characteristic like uh low impact or poor impact on the environment or higher use of casual labor Etc so uh that could be the question and uh you may see some example
• 19:30 - 20:00 later um an very important topic a very important topic in L4 M2 is about the um industry analysis and we may need to use some tools like the pters by forces uh according to this model uh the market is shaped by five forces the threat of new entrance uh the Rivalry buing power of buyer and
• 20:00 - 20:30 suppliers and the threat of substitution so uh with this model then all these forces all these forces could shape an industry and um defy the uh average profitability of the industry so uh to be better then the firm need to adopt certain uh comp comparative strategy and from buyer perspective then
• 20:30 - 21:00 this tool could be used to analyze an industry and understand the behavior of the suppl like uh we need to know what could be our advantage or our power uh within the industry and use that accordingly in case that um we have weaker power then we may need to um use some uh substitution or uh to find substitution by using the uh outcome or
• 21:00 - 21:30 output specification with the p five forces then you need to understand uh a few certain um some certain uh determinant that may affect the balance power of the uh strength of H of H for so um this table I think it is very useful uh because it least all the
• 21:30 - 22:00 determinant that you may see that uh it may take a few pages in the stud guide to despire all them uh we have a few um determinants like uh for the threat new Eng then we call the the determinance as the barrier entry and we have some barrier entry like the economy scale or U the capital requirement or the uh um regulations of policies uh
• 22:00 - 22:30 with the Bing power buyer then the the the determinants are uh the number of customer their size the difference or the price sensitivity so uh depending on uh what kind you have then but you need to remember all the uh uh determinance here and I think if you understand them then they are quite straightforward and they should not be your problem during
• 22:30 - 23:00 the exam uh with the uh specification uh and in chapter three we have uh pretty many question about uh different type specification and how to use them so the specification is like uh the uh document that we use to communicate with the sub and uh we May write them in different
• 23:00 - 23:30 manners we may use the input and with the confirmance speciation or we may use the output with uh the performance specification so um for the specification you need to know uh there are certain features and their um content as well for performance then uh we could use the design or the description technical description or standards or the sample to uh to
• 23:30 - 24:00 describe them but uh with confirmance if you don't know how to how to write uh effectively then they may they could be defective and um the the the um responsibility of fow would stay with the buyer for performance then uh we could have a few tpes like outcome out put functional or St work
• 24:00 - 24:30 and they tend to be easier to prepare since we only need to prepare the outcome or output and the uh uh they also encourage the creativity and Innovation from supplier uh furthermore they also place the responsibility for f on supper so uh we can see that performance could have some advantages but it also has some
• 24:30 - 25:00 disant diges uh why in conformant you can just issue the uh specification and wait for the submission and the uh uh consideration here is not about the quality anymore but more about uh the price and other services but with performance uh after you issue the spe the specification then they need to submit um then we need to submit their suggestion
• 25:00 - 25:30 and we need to assess whether um their suggestion would fit our a requirement or not so uh both conformance and performance has some uh advantages and dis vantages and as a learner then you need to know what are advantages of this thing and apply them accordingly in the question you pleas just see a few example later um finally when we have the
• 25:30 - 26:00 specification when we have the specification we need to improve them uh the Improvement here could be done through uh standardization uh where we like set up the uh common ground or common standard for every product so standardization could help you to cut the cost and uh reach economy of scale uh easier and also support uh the measurement and most
• 26:00 - 26:30 importantly uh it reduce the variety especially among the parts of product so that we can um Mass produce the thing and easier for uh management um the Improvement could also be done through value analysis and value engineering where we may have the uh process of collaboration between procurement and are the Departments and
• 26:30 - 27:00 then we may uh fun analyze the functions of the product and then uh try to improve them by removing anything that don't contribute to the bottom line uh value analysis and value gening use largely the uh similar process but uh they differ in manner that uh value analysis apply to uh the existing product where value engineering apply to the the new product
• 27:00 - 27:30 mostly so uh it's the time for us to practice a little bit and uh uh I may like we have about 30 minutes for this part uh we shall have uh today I prepared uh eight question and uh you will answer them uh one by one uh after each question is short then I will let you have a few minutes like about two minutes and then you can answer them and
• 27:30 - 28:00 then um we can record your speed of answer and uh the first correct answer will get five five points and the second one second answer will get four points I mean I only count the correct answer so at the end uh we summarize the uh points from participant and uh publish them accordingly so uh we sh see who win this one who win the game and uh reward the
• 28:00 - 28:30 price so the price here is quite small but I think they are very meaningful um you may either choose the lifetime access to one hour test on Ed me or uh other reward like uh Netflix gift code for your uh entertainment or um a um a small topup for your mobile play so um
• 28:30 - 29:00 let's start our game here and let's see who will be the winner I think uh today question are quite uh basic and uh not too challenging so I expect that many you will get high score so let's see the first question with the cash flow budget what is the answer here
• 29:00 - 29:30 all right we shall uh wait for the answer I see po and Pamela already answer yeah and em all of them answer with
• 29:30 - 30:00 a all right so the majority of the answer here is a uh and uh we only have uh a deviation um a different opinion from CH re re CH okay that she answer
• 30:00 - 30:30 D all right so I think it's time to review the answer uh here for this question uh first I need to goow
• 30:30 - 31:00 question okay so I shall not accept any further answer to this question um for the first question then uh it asks about uh the main purpose of cash flow budget so um as the name suggest then this is the uh plan for the cash flow the budget is just um another way to uh say about a
• 31:00 - 31:30 plan so um it just a plan about the cash flow and we have four options where you need to select the right combination um with this with these four option you can see that option number three and four um they say like the statement of the financial position or uh organizational profitability they are incorrect okay so um the standard financial position is the balance sheet
• 31:30 - 32:00 and uh profitability is displayed in the income statement so they are not related to uh cash flow or cash flow budget so the answer must be one and two or answer a congratulation to anyone answer with a now uh let's start question number two
• 32:00 - 32:30 right Z about the priz for
• 32:30 - 33:00 yeah and after about a few seconds then the answer is coming right and uh so far all the answer I received it here r d except uh a few answer that indicate I
• 33:00 - 33:30 all right so uh this question is about
• 33:30 - 34:00 the priz score now I need to close this one before I um review the answer so this question is about the prize for where we uh consider that is about um a competitive activity uh price
• 34:00 - 34:30 b means uh a company start to um cap like reduce the price to the bottom and uh other companies May uh follow the suit um they may want to keep their price low and competitive as possible so the price four is a kind of compa uh competition in the market and uh this
• 34:30 - 35:00 competition is of course um the competitive privy as in uh the pter five forces model and the answer here should be d uh for Price W then um e not a barrier to entry so a is irrelevant although um the must be just but a is irrelevant uh and with d then the is um they say that the price go is very
• 35:00 - 35:30 competitive strategy that mean uh it could leave everyone at a loss and uh uh it does not have the industry to expand but uh just to um just eat up the profitability of everyone so uh that is about the price or now let me see let us see the the third
• 35:30 - 36:00 question pretty long uh this a scenario where we have the um where we need to apply what you know about procument in a scenario what could be the uh most appropriate um action here
• 36:00 - 36:30 yeah so it's pretty long and uh people I think you are taking some time to understand the question uh I can still see that PO is the first one who answer the pay and the PO
• 36:30 - 37:00 okay so that is a sarrow and what should
• 37:00 - 37:30 be the answer here what what is the most appropriate reaction here
• 37:30 - 38:00 right so um so far I see that there's no deviation from B and all the questions are all the answer are about B so let me close this question um so in this question we can see that there are multiple problems to
• 38:00 - 38:30 the current company first um they have the um okay they have a fleet of vehicles but they are Beyond economic repair so repairing the current vehicle would not be uh sufficient or economic or make some sense uh by return so C is not applicable second
• 38:30 - 39:00 um right let me take it back right so um second this company uh is having some cash flow problem therefore are purchasing the vehicle at this time would not be fruitful and they may need to take very expensive loan so therefore uh if they don't want to have
• 39:00 - 39:30 further um loan and interest payment then they need to keep their uh vehicle and uh or that we need to do something more operational or shortterm like leing so um consider all the factors we may consider B um and another indicator of uh listing here is that um they have the uh customer who want to delay the payment and uh they may offer the um
• 39:30 - 40:00 fiveyear contract so uh five year is 5 year period is pretty appropriate for uh a least so B is more appropriate 5 year may be not enough for a purchase or for an out purchase of new vehicle but could be long enough for least so be correct and congratulations to anyone answer with
• 40:00 - 40:30 B now let's move on question number four all right so for this one for this one we need to decide whether performance is good for um certain certain situation and what would
• 40:30 - 41:00 be the reason for selecting performance here yeah the wording could be tricky so be careful
• 41:00 - 41:30 all right so I think uh it's pretty challenging therefore you need some time to uh analyze them all right so part the answer are
• 41:30 - 42:00 C and most people agree with C let's see what uh C okay so for this question uh it asked about the advantages of um performance so you decide should be see but there
• 42:00 - 42:30 are a few um answers from peace and gu um that have some different in P they select i instead of C
• 42:30 - 43:00 all right so I think it's time to review the answer and let's start um let's close the question first okay so after I close the question I
• 43:00 - 43:30 accept uh any any answer behind that after that is not counted uh when we um see when we uh measure the performance so for this question then of course the answer is c um here obviously the question uh intend to ask you about the advantages of uh performance spec and um we have one of the greatest advantages of performance is that they place the respons responsibility on the uh
• 43:30 - 44:00 supplier therefore the supplier must deliver the solution that fit with our output or outcome um I see that some student answer with a but a is not applicable here uh because performance sometime it could be quite ambigous and uh not it doesn't offer a comprehensive because it
• 44:00 - 44:30 provide no uh detailed instruction for the suppl so um the answer the better answer should be C now let's look at uh question number five where you need to select two answer okay uh question number five
• 44:30 - 45:00 e e
• 45:00 - 45:30 I can see that most of the answer uh b&
• 45:30 - 46:00 D and uh I need to say Happ if you want to join this competition then you need to answer directly to the uh mes not reply to my um reply to my uh message because uh by the way you answer to the
• 46:00 - 46:30 chat then I can measure how quick you answer this so answer directly not reply to my uh not reply to my uh to my message right
• 46:30 - 47:00 okay so the majority are B and D now let's see uh obviously when we talk about direct then they should be the um cost associate with uh the end product so uh for a Furniture
• 47:00 - 47:30 yeah for a Furniture Company then first thing um they need to purchase the material like wood and uh Lether for the production and then the uh Wes for the live worker or the direct so uh should be B and D should be b and d uh A is for overhead office accountant C is also an
• 47:30 - 48:00 overhead for electricity and E is an overhead for marketing now let's see question six okay so uh again about the specification
• 48:00 - 48:30 and about outcome and output uh the question is why should we use that what could be the advantages of using outcome or output speciation
• 48:30 - 49:00 um when the question doesn't indicate then uh obviously we only select one
• 49:00 - 49:30 answer so two answer are invalid um I see that uh most of the earlier answer um are B but then people maybe some sometime divide it about C or
• 49:30 - 50:00 D or even a so uh this question could be a little bit more challenging than the previous one now uh let me close this before uh revealing the answer okay so uh for this question uh
• 50:00 - 50:30 you can see that um they ask specifically about outcome and output specification and the reason for to use these specification is that um they introduce a way that allow uh the SPL to be more creative and Innovative about their solutions they don't indicate specifically any solution yet but uh just leave the outcome or the results so
• 50:30 - 51:00 uh this one this will allow the uh supplers to submit and even we may find uh creative ideas and allow the supplier to be creative and U offer more solutions and that it also expand our supply market and F the substitution so here then the option b sorry option b is
• 51:00 - 51:30 correct um if we use output and outcome we should have more options not few so C is incorrect similarly D um outcome output should not use any branded product and that may be skill to a certain supp and with a uh no one drive specification so that they can amand easier uh we have the specification and we use that in the
• 51:30 - 52:00 contract that's so so uh the best answer here is B now uh let's move on let's move on with question number seven
• 52:00 - 52:30 e e
• 52:30 - 53:00 so far as I can see from the chat box uh
• 53:00 - 53:30 the answer uh could be B or C so we can ignore a and d right um but uh between B and C I think uh there um some apply some argument like uh BC has uh equal number of participants to
• 53:30 - 54:00 answer and especially the later answer tend to um skill toward C not b
• 54:00 - 54:30 all right let's close this question before we before I show the answer U for this one then we have um the analysis about the related power relative power of the main buyers uh and second about the capacity
• 54:30 - 55:00 available among the key suppers so uh many say that industry analysis or demand Supply analysis first we need to know what is industry analysis industry analysis is like what we do the portal forces here we apply the model and together with the SLE or teraline a certain industry okay and the relative power of the buyer and supplier uh and
• 55:00 - 55:30 supply and demand analysis is that uh is about how strong supply and demand and what could be the ship the ship uh in um the price in the future so uh with supply and demand analysis with supply and demand analysis then we analyze the factors that could have impact on Supply demand like like the available um income sorry disposable
• 55:30 - 56:00 income and um the uh uh availability of substitute or of uh compliment product or the uh available availability of technology that could push Supply or the availability of employees of workers of Labor so that the supply could be shifted so with Supply supply and demand analysis we tend to focus on those factors the factors that may that may
• 56:00 - 56:30 have impact on Supply demand not the factor that may have impact on the power so with this question although the second word sorry the third Center about capacity of the supplier could be confusing but it is still about industrial analysis we need to understand how large is this industry and how well the supplier could be supplied so the answer here should be B and congratulation to anyone answer
• 56:30 - 57:00 with B uh when it come to supply and demand analysis then it should be about factors that may affect the supply demand like disposable income or technology and now uh let's move on question number eight
• 57:00 - 57:30 for this time we have a just no question
• 57:30 - 58:00 e e
• 58:00 - 58:30 uh I think um the answer here is pretty
• 58:30 - 59:00 obvious okay so I may close question early uh it's about cost and benefit analysis and we obviously do this because the uh we need to see that where uh the benefits will outweigh the cost and whether this project should be
• 59:00 - 59:30 invested that is very uh typical for uh cost and benefit analysis all right so the answer here is B uh Jessica uh do you do you keep check with the answer and could you tell me who is a winner today yes uh I will send you the picture to show the window of today
• 59:30 - 60:00 okay so uh we shall need to wait for Jessica uh she's she helps me to summarize who win today
• 60:00 - 60:30 Daniel I'm I sent you please check your message okay so um for today question I can see that um the winner is um the payan PO uh in total he scor 29 and I think uh he kiss very uh very great um gap between the first and the second
• 60:30 - 61:00 one uh Rachel so congratulation uh H and uh if possible could you please unmute yourself and tell me what will be your uh what what kind of reward would you would like to receive hello po uh please unmute and or you can type uh in the chat what kind of word you want
• 61:00 - 61:30 to receive it's okay uh please type if you yeah please type if you
• 61:30 - 62:00 want uh what kind of test or do you want to have some uh gift code for Netflix or for your mobile top uh let me show the
• 62:00 - 62:30 uh reward all right while we are waiting for poll um yeah let me see it okay so uh we have the test from uh from
• 62:30 - 63:00 level four to level five what which test do you prefer no I mean specific model uh level four is not enough are we only give a specific mod
• 63:00 - 63:30 right okay so um we shall give you the uh livetime assess code for fm2 congratulation Po and uh uh I think you have done pretty good today pretty well today okay so um it's the end of today meeting and uh if you want to practice
• 63:30 - 64:00 more then we always have the um we all have the test on edme and you can look for uh just type in the uh name of the modu and uh you can see our test on the top and if you have further inquiry or question for us just uh keep contact with us through email and WhatsApp that I'm showing on the screen um and for anyone who join then uh we
• 64:00 - 64:30 shall send you the uh recording letter okay to your registered email that's why we always ask you to register before uh start the event so um thank you very much for joining today and uh enjoy the rest of Sunday okay and also a successful 2025 we are only early in this year so I wish you a very successful uh 2025 goodbye and see you
• 64:30 - 65:00 later in other event