CIPS L4M6 Latest Version & L4M6 Test Questions Vce

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CIPS L4M6 Certification Exam is highly valued by employers worldwide and is recognized as a benchmark for excellence in supplier relationship management. By obtaining this certification, procurement professionals can demonstrate their commitment to continuous professional development and their ability to add value to their organization by effectively managing supplier relationships.

CIPS L4M6 (CIPS Supplier Relationships) Certification Exam is an internationally recognized qualification that focuses on developing procurement professionals' knowledge and skills in managing relationships with suppliers. CIPS Supplier Relationships certification exam is designed to equip procurement professionals with the necessary tools to develop and maintain strategic supplier relationships that drive value, innovation and competitive advantage.

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The CIPS L4M6 Exam covers several areas, including supplier segmentation and selection, negotiation, performance management, contract management, and risk management. These topics are critical for effective supplier management, and require a comprehensive understanding of the supplier relationship lifecycle. Individuals who pass the CIPS L4M6 exam demonstrate their ability to navigate the complex supplier ecosystem and develop coherent strategies to support their organization's goals. CIPS Supplier Relationships certification also validates that individuals are equipped to manage potential challenges in collaboration with suppliers, and maintain a healthy relationship throughout the supplier lifecycle.

CIPS Supplier Relationships Sample Questions (Q187-Q192):

NEW QUESTION # 187
Price fluctuations can affect profitability. Is this statement correct?

A. Yes, if the product's costs increase and the price does not
B. No, price is not related to profitability
C. Yes, as sales may drop if the product is price inelastic
D. No, only decisions made by the chief executive affect the price

Answer: A

Explanation:
Profitability is impacted when product costs rise without corresponding price adjustments. Understanding cost- price relationships is key to managing profitability in procurement.

NEW QUESTION # 188
A low-cost fashion retailer based in Europe is looking at adding value in their procurement activities. The retailer buys clothing for re-sale with a very small profit margin applied, relying on volume salesto make profit. Which of the following added-value approaches will be the most critical for the procurement team of the retailer to focus on with their supply chain?

A. Improving timescales
B. Reduction of inventory
C. Quality enhancement
D. Price management

Answer: D

Explanation:
For low-cost, high-volume business models, maintaining profitability depends on tightly controlled procurement costs. Price management is critical for ensuring competitive pricing while safeguarding slim margins. CIPS L4M6 highlights that effective cost management and price negotiation are essential in such scenarios.

NEW QUESTION # 189
In a monopoly market, which of the following statements is true?

A. bargaining power of suppliers is strong
B. There is a threat of new entrants
C. bargaining power of buyers is strong
D. There is strong rivalry

Answer: A

Explanation:
In a monopoly there is only one supplier- therefore their power is strong. Buyers in this market are price takers and their power is weak. There is generally a strong barrier to entry into a monopoly market so the threat of new entrants is low. There is no rivalry. There are many questions in the exam on Porter's 5 Forces - see p. 39

NEW QUESTION # 190
A garden centre has recently purchased some lollypop sticks to use as plant labels. The staff have written the name of the plant on the lollypop stick and put it next to the plant. This helps them identify which plant is which. However, after a couple of weeks, the lollypop sticks have become mouldy and the writing has faded.
Staff are now struggling to identity their plants. The Manager of the garden centre is considering returning the lollypop sticks and asking for a full refund as they were not fit for purpose. Can the Manager do this?

A. Yes- so long as the manager kept the receipt
B. No- the manager cannot prove that the product is faulty
C. Yes- the lollypop sticks have gone mouldy- this is unacceptable
D. No- as this was not the lollypop sticks intended purpose

Answer: D

Explanation:
The correct answer is 'no- as this was not the lollypop sticks intended purpose'. When deciding if something is fit for purpose, you must consider its intended and common purpose. In this case it would be for making lollypops. As the garden centre is using them for something other than their intended purpose, they can't complain if it doesn't work. Fit for purpose is discussed on p.65 p.s. there's a question like this in the real exam - it's just not lollypop sticks ; )

NEW QUESTION # 191
Agile Cars Ltd is creating a 'lean' business model which involves receiving deliveries of components only when they are required. Which of the following 'wastes' is being removed from the business?

A. Transportation
B. Defects
C. Over-production
D. Inventory

Answer: D

Explanation:
This would reduce inventory (holding stock). Inventory is considered a business waste because it costs money to store stuff (e.g. paying the rent on a warehouse, electricity to light it up etc). If you can reduce the need to store materials and components on site- you reduce costs. You also save time because you get deliveries when you need them- you don't need to allow for staff unpacking things, storing them away, then going back to them later when they need them. For more information on the 7 Business Wastes see p.70. This comes up in a couple of modules, so it's worth remembering.

NEW QUESTION # 192
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