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CIPS L4M6 exam, also known as CIPS Supplier Relationships, is a globally recognized certification program designed specifically for procurement professionals who work with suppliers. CIPS Supplier Relationships certification program is ideal for those who have experience working with suppliers and want to develop their knowledge and skills to improve their supplier relationships. L4M6 exam covers a range of topics including supplier performance management, contract management, supplier risk management, and supplier development.
CIPS L4M6 (CIPS Supplier Relationships) Exam is an essential certification for procurement and supply professionals who want to advance their knowledge and skills in managing supplier relationships. L4M6 exam is designed to test the candidates' ability to develop and manage effective supplier relationships that are beneficial to both parties. It covers various areas, including supplier selection, contract management, and supplier performance measurement.
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CIPS L4M6 exam is a critical exam for procurement professionals seeking to advance their careers in supplier relationship management. L4M6 exam covers various aspects of supplier relationships, including selection, negotiation, contract management, and performance management. It is an advanced level exam that requires a thorough understanding of procurement and the role of supplier relationships in achieving organizational objectives. Candidates who Pass L4M6 Exam gain valuable skills and knowledge that can help them to excel in their roles as procurement professionals.
CIPS Supplier Relationships Sample Questions (Q115-Q120):
NEW QUESTION # 115
Which of the following are the stages of team development?
Answer: B
Explanation:
The stages of team development as defined by Tuckman include forming, storming, norming, and performing.
These stages reflect how teams evolve and mature through collaboration and problem-solving.
NEW QUESTION # 116
Fred is a new procurement manager at a large engineering firm. They procure 100s of components and use these to make kitchen appliances such as kettles and toasters. He has been asked by his manager to look into procuring a new component which will go into a new environmentally friendly kettle and has been asked to ensure that the firm receives value for money. What should Fred do?
Answer: D
Explanation:
Fred should hold a competition as this is a 'key way of achieving value for money' p.67. Fred shouldn't put a business case together to make the product in-house without doing a make vs buy analysis, and that analysis showing make is the way to go. As the firm buy in 100s of components, it's very unlikely that making the component in-house would bring 'value for money'. He should also be careful of only looking at current suppliers or known suppliers- the best supplier of this new component might be unknown to the engineering firm at present.
NEW QUESTION # 117
You work at XYZ manufacturers and a competitor has just released a rival washing machine to the product that you make. This model is proving popular with customers. What competitive force is at play?
Answer: D
Explanation:
This is a threat of a new entrant. The competitor has now entered the washing machine market and is competing directly with you. This is not a threat of substitution as it is the same product. A substitution would be if they invented a new product that washed clothes and people started buying this instead of washing machines. There are many questions in the exam on Porter's 5 Forces - see p. 39
NEW QUESTION # 118
Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
Answer: C
Explanation:
The correct answer is 'They may gain an increased volume of business'. The other options are just not true. See p.130 for advantages and disadvantages of partnerships from both the buyer and supplier's perspective. This is a hot topic for the exam.
NEW QUESTION # 119
Red Manufacturing work with around 40 different suppliers. One of these suppliers is Blue Business. Red Manufacturing order regularly from Blue Business, and have never had any issues with their performance.
The materials Blue Business supply are of low value and there are several other suppliers of these materials in the market. What type of relationship should Red Manufacturing seek to have with Blue Manufacturing?
Answer: C
Explanation:
The correct answer is 'arms length'. This is a tactical purchase (as it is low value) and keeping the supplier at arms-length means that Red Manufacturing could possibly exploit them to reduce their prices (think back to the Kraljic matrix and where Blue Business would likely fall). A Partnership or Single- Source relationship requires investment into the relationship, and as the products are low value and Red Manufacturing have a lot of other suppliers, they should not be investing time in developing that relationship with Blue Business. An adversarial relationship wouldn't be advantageous as it may lower the performance of the supplier. See the relationship spectrum on p.5 - this is a hot topic for the exam
NEW QUESTION # 120
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