CIPS - Useful L4M6 - Valid CIPS Supplier Relationships Test Pass4sure

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One of the key benefits of passing the CIPS L4M6 exam is that it demonstrates a high level of expertise in the area of supplier relationships. This is an essential skill for anyone working in procurement or supply chain management, as suppliers play a critical role in ensuring the success of a business. By passing L4M6 exam, professionals can show that they have the knowledge and skills needed to manage suppliers effectively and help their organization achieve its goals.

CIPS L4M6 Certification Exam is suitable for procurement and supply chain professionals who are responsible for managing supplier relationships at different levels of the organization. This includes procurement managers, category managers, supply chain managers, and contract managers, among others. L4M6 exam is also suitable for those who are interested in pursuing a career in procurement and supply chain management.

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CIPS L4M6 Exam covers a range of topics related to supplier relationship management, including the principles of effective supplier management, the importance of communication and negotiation skills, developing and maintaining strategic supplier relationships, and managing supplier performance. Successful completion of L4M6 exam demonstrates a candidate's ability to manage supplier relationships effectively, which is a critical component of any successful procurement and supply chain operation. Furthermore, candidates who pass the exam will gain a thorough understanding of the best practices in supplier relationship management, enabling them to improve their organization's procurement and supply chain operations.

CIPS Supplier Relationships Sample Questions (Q164-Q169):

NEW QUESTION # 164
Which of the following are examples of ways in which businesses can add value? Select THREE that apply.

A. Product features and benefits
B. Through delivering excellent service
C. Creating a win-win price
D. Offering convenience
E. Reducing customer service levels
F. Investing in customers

Answer: A,B,D

Explanation:
Adding value involves enhancing customer experience through excellent service, providing differentiated product features, and offering convenience. These align with procurement strategies aimed at driving customer satisfaction and loyalty.

NEW QUESTION # 165
Which of the following are typical drivers for a partnership between the buyer and the supplier? Select the THREE that apply.

A. The product is a commodity
B. There are many suppliers in the market
C. The product is technically complex
D. The product is critical for the buyer
E. The buyer has a high spend with the supplier
F. The supplier provides the product to a buyer's competitor

Answer: C,D,E

Explanation:
Comprehensive and Detailed Explanation:
Partnerships between buyers and suppliers are often driven by:
* High Spend:Significant expenditure justifies the investment in developing a closer relationship to achieve cost savings and efficiencies.
* Critical Products:Items that are essential to the buyer's operations necessitate a reliable and collaborative supplier relationship.
* Technical Complexity:Complex products benefit from joint development efforts, shared expertise, and coordinated problem-solving.
Conversely, commodities and markets with many suppliers typically lend themselves to transactional relationships rather than partnerships.
Reference:
CIPS L4M6 Study Guide

NEW QUESTION # 166
The executive board of a manufacturing company is requesting support from the procurement team because the company needs to improve its levels of profitability. After segmenting the overall spend by value and risk of supply, the senior buyer for the company is planning to undertake a cost modeling activity. This will be undertaken with a cross-organizational team of internal stakeholders and key strategic suppliers. What would be the buyer's initial objective from the cost modeling activity?

A. To understand the supplier's pricing strategy
B. To understand the supplier's competitive threats
C. To understand the supplier's financial status
D. To understand the supplier's investment plans

Answer: A

Explanation:
Cost modeling helps in understanding supplier pricing strategies, identifying cost drivers, and opportunities for negotiation or cost reduction, which supports profitability improvements.

NEW QUESTION # 167
Which of the following factors would you use to analyse the macro-environment? Select THREE.

A. legislative
B. cultural
C. political
D. social
E. philosophical

Answer: A,C,D

Explanation:
STEEPLE is what is used to analyse the macro-environment; the factors are; social, technological, economic, environmental, political, legislative and ethical. Details of this can be found on p.43-44

NEW QUESTION # 168
Which of the following are not stages of team development? Select TWO.

A. Forming
B. Achieving
C. Accepting
D. Mourning
E. Adjourning

Answer: B,C

Explanation:
This question is very, very similar to a real exam question and is a really mean one. The CIPS study guide describes stages of team development as forming, storming, norming and performing. Of those listed in the book only forming is listed above. What the textbook fails to tell you is that some people add on two additional stages to this model which are mourning and adjourning. I strongly recommend doing some further reading on this (it's called the Tuckman Group Development Model) as it comes up a lot in the exam and the study guide doesn't really go into enough detail.

NEW QUESTION # 169
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CIPS - Useful L4M6 - Valid CIPS Supplier Relationships Test Pass4sure

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CIPS Supplier Relationships Sample Questions (Q164-Q169):

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