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CIPS L4M6 exam is an advanced-level exam that requires candidates to have a sound understanding of procurement and supply chain management concepts. Candidates need to possess knowledge of procurement processes, supplier selection, and contract management. They also need to have experience working in a procurement or supply chain management role. L4M6 exam is ideal for procurement professionals who want to enhance their skills and knowledge in supplier relationship management.
CIPS L4M6 Certification Exam is a highly sought-after qualification for anyone looking to excel in procurement and supply chain management. CIPS Supplier Relationships certification is designed to provide learners with the knowledge and skills required to effectively manage supplier relationships, which is a crucial aspect of procurement management.
The second version is the web-based format of the CIPS Supplier Relationships (L4M6) practice test. Browsers such as Internet Explorer, Microsoft Edge, Firefox, Safari, and Chrome support the web-based practice exam. You don't have to install excessive plugins or software to attempt this CIPS Supplier Relationships (L4M6) practice test.
The CIPS L4M6 Exam is structured in a way that enables candidates to demonstrate their understanding of the concepts and principles of supplier relationship management. L4M6 exam format includes multiple-choice questions, scenario-based questions, and short-answer questions. It is important that candidates have a good understanding of all the concepts covered in the exam, and are able to communicate their ideas effectively.
NEW QUESTION # 10
Which of the following are advantages for the buyer of entering into a partnership? Select TWO.
Answer: A,C
Explanation:
The correct answers are; They are likely to be able to gain price stability and There may be greater continuity of supply. The other options are an advantage for the supplier rather than the buyer (They will gain an increased volume of business) and a disadvantage of entering into a partnership (The supplier may become complacent). As you may have guessed from these questions - Partnerships come up a LOT in the exam. See p.130 for info on pros and cons of partnerships.
NEW QUESTION # 11
Stephen Jones is assessing the relationships he has with his supplier base. Which of the following would be drivers for Stephen to adopt a partnership relationship with a supplier?
Answer: B
Explanation:
High expenditure levels and the complexity of requirements justify partnership sourcing, as it allows for collaborative problem-solving, innovation, and cost-efficiency. CIPS emphasizes that partnerships are ideal when requirements are complex and require expertise from the supplier.
NEW QUESTION # 12
A supermarket is struggling with sales and has done an analysis on its competitors. It has discovered that it has two major competitors; one provides groceries at a much cheaper price and another that provides only organic products. The supermarket has decided that it wants to continue providing groceries to a wide target audience but that it will compete by offering superior customer service. What is the supermarket's source of competitive advantage?
Answer: A
Explanation:
This is differentiation as the target market is broad. Differentiation focus would be if the supermarket was targeting a niche market. There's a couple of questions on Porter's Generic Strategies in the exam- there's a useful diagram of this on P.13
NEW QUESTION # 13
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: A,B,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 # 14
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 price increase. What is this tactic known as?
Answer: C
Explanation:
Forward buying involves purchasing in advance to lock in current prices and avoid future increases. This strategy is effective in volatile markets where price hikes are anticipated.
NEW QUESTION # 15
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L4M6 PDF Cram Exam: https://www.braindumpsit.com/L4M6_real-exam.html
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