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CIPS L4M6 exam covers a range of topics related to managing supplier relationships, including understanding supplier performance, developing supplier improvement plans, managing supplier risk, and implementing supplier governance. These topics are essential for procurement professionals who work with suppliers to ensure that their organization meets its strategic goals and objectives. L4M6 exam is designed to equip procurement professionals with the knowledge and skills needed to manage supplier relationships effectively.
CIPS L4M6 Exam is ideal for individuals who are responsible for managing supplier relationships, such as procurement managers, supply chain managers, and contract managers. It is also suitable for individuals who work in the procurement and supply chain industry and want to enhance their knowledge and skills in managing supplier relationships. L4M6 exam is globally recognized and accredited by the Chartered Institute of Procurement and Supply (CIPS), the leading professional body for procurement and supply.
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Users can start using the product of ActualTestsQuiz instantly after purchasing it, so they can start preparing for CIPS certification test quickly. Three formats are being provided to customers so that they can access them in every possible way according to their needs. After discussing it with many CIPS professionals and getting their positive feedback, the study material has been made. Many exam applicants have used the prep material and rated it the best because they have passed the CIPS L4M6 Certification Exam in a single try.
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.
CIPS Supplier Relationships Sample Questions (Q157-Q162):
NEW QUESTION # 157
Is it correct to suggest that the sole objective of partnership sourcing is to achieve the lowest acquisition cost?
- A. Yes, the concept of 'lowest acquisition cost' focuses on collaboration just like partnership sourcing does
- B. Yes, because the concept of 'lowest acquisition cost' ignores the quoted price and focuses on long-term cost factors
- C. No, because partnership sourcing considers 'lowest acquisition cost' together with aspects of supplier partnerships
- D. No, partnership sourcing is not applicable in one-off capital purchases where the concept of 'lowest acquisition cost' applies
Answer: C
Explanation:
Comprehensive and Detailed Explanation:
Partnership sourcing is a strategic approach that emphasizes long-term collaboration between buyers and suppliers to achieve mutual benefits. While achieving a competitive acquisition cost is a component, it is not the sole objective. Partnership sourcing also focuses on:
* Quality Improvement:Ensuring that products or services meet or exceed quality standards.
* Innovation:Collaborating on new product development and process improvements.
* Risk Management:Sharing information to anticipate and mitigate risks.
* Supply Chain Efficiency:Streamlining processes to reduce lead times and inventory levels.
Therefore, while cost is important, partnership sourcing encompasses a broader range of objectives aimed at creating value for both parties.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 158
An amicable style approach to ending a buyer-supplier relationship would be most appropriate in which of the following circumstances?
- A. 1 and 4
- B. 1 and 2
- C. 3 and 4
- D. 1 and 3
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 # 159
Which of the following are primary activities, according to Porter's Value Chain? Select THREE.
- A. Inbound Logistics
- B. Operations
- C. Human Resources
- D. Marketing and Sales
- E. Procurement
Answer: A,B,D
Explanation:
This question refers to Porter's Value Chain (p.35). There's a couple of questions on this in the exam so try to learn it. Primary activities are; inbound logistics, operations, outbound logistics, marketing and sales, after sales- service
NEW QUESTION # 160
Which of the following are NOT one of the four key principles of procurement in the EU?
- A. Value for Money
- B. Proportionality
- C. Non-Discrimination
- D. Transparency
Answer: A
Explanation:
Value for money is not a principle of EU procurement. The four key principles are; transparency, non-discrimination, proportionality and equality of treatment. The principles are basically about ensuring the procurement process is fair. See p.75
NEW QUESTION # 161
Which of the following are not a valid reasons to terminate a relationship with a supplier? Select TWO.
- A. The supplier made one late delivery
- B. The supplier has a change in senior management
- C. Supply base rationalisation
- D. The supplier suddenly increases prices
- E. The supplier becomes insolvent
Answer: A,B
Explanation:
Two invalid reasons are; one late delivery and a change in senior management. Valid reasons to terminate a relationship are listed on p.107 and include the three listed here, as well as a material breach, damage to reputation and the supplier merges or is acquired by another company.
NEW QUESTION # 162
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