L4M6 Relevant Exam Dumps Free PDF | Efficient L4M6 Exam Blueprint: CIPS Supplier Relationships
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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.
By passing the CIPS L4M6 Certification Exam, professionals can demonstrate their expertise in managing supplier relationships, which can enhance their career prospects and open up new opportunities for advancement. In addition, the certification can help organizations to identify and recruit skilled professionals who can contribute to their procurement and supply chain management functions.
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CIPS L4M6 exam is aimed at procurement professionals who are responsible for managing supplier relationships within their organization. This includes procurement managers, supply chain managers, and purchasing managers, as well as other professionals involved in the procurement process. L4M6 Exam is designed to test the candidate's knowledge and understanding of the key principles and best practices of supplier relationship management, as well as their ability to apply this knowledge in real-world situations.
CIPS Supplier Relationships Sample Questions (Q166-Q171):
NEW QUESTION # 166
In the Purchasing Portfolio Matrix, a leverage product is a product in a market where it is easy to switch suppliers and the quality is standardized. Is this TRUE or FALSE?
Answer: D
Explanation:
Leverage products are characterized by high spend and low complexity, giving buyers the ability to negotiate favorable terms due to supplier competition and standardization.
NEW QUESTION # 167
Gabriel is a procurement manager who wishes to explore a new avenue to procure products for his company.
His manager has told him that he should invite internal stakeholders to a meeting to get their feedback. Who should Gabriel invite? Select THREE.
Answer: B,C,D
Explanation:
Internal stakeholders are those who work within the business so include the legal department, employees and end-users. End-users mean those people and departments who will be using the product or service. For example if Gabriel is procuring new software- an end-user would be anyone who would be using that software (whether they're employees, volunteers or agencies). CIPS outlines types of stakeholders on p.64
NEW QUESTION # 168
A large construction group has a critical contract with a brick supplier. This represents high-value spend and the contract has a five-year duration. What type of commercial relationship would be the most appropriate?
Answer: C
Explanation:
A partnership is the most appropriate type of relationship for high-value, long-term contracts involving strategic goods or services. This relationship allows both parties to work collaboratively toward common goals, share risks, and ensure continuity and quality over the long term. According to the CIPS L4M6 study materials, partnership relationships are encouraged where there is a high level of interdependence and shared objectives.
NEW QUESTION # 169
An amicable style approach to ending a buyer-supplier relationship would be most appropriate in which of the following circumstances?
Answer: B
Explanation:
An amicable approach is critical when alternative suppliers are limited or when ongoing collaboration is required during the termination period. Maintaining positive relations ensures smooth operations and protects reputations in the marketplace.
NEW QUESTION # 170
Fashion buyer Kamal Sumai is working closely with a key overseas supplier and is monitoring and forecasting cost volatility within the fabric market. Kamal has decided it is the right time to raise a purchase order with his supplier, for a greater quantity of fabric than he currently needs. Kamal is attempting to avoid an imminent pricing increase. What is this tactic known as?
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
Forward buyinginvolves purchasing goods in advance of actual need, often in larger quantities, to take advantage of favorable pricing or to hedge against anticipated price increases. This strategy is commonly used in volatile markets to stabilize costs and ensure supply continuity.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 171
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