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CIPS L4M6 exam covers a range of topics related to supplier relationship management, including supplier selection, performance management, supplier development, contract management, and ethical considerations. L4M6 Exam is structured in a way that allows candidates to demonstrate their understanding of these topics and how they can be applied in real-world procurement scenarios.
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CIPS L4M6 Certification Exam is designed to test the knowledge and skills of procurement and supply chain professionals in managing relationships with suppliers. CIPS Supplier Relationships certification is ideal for those who want to enhance their proficiency in supplier relationship management and advance their career in procurement and supply chain management. L4M6 Exam covers various topics related to supplier relationships, including supplier selection, contract management, performance monitoring, and supplier development.
CIPS Supplier Relationships Sample Questions (Q236-Q241):
NEW QUESTION # 236
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.
- A. customers
- B. legal department
- C. suppliers
- D. end-users
- E. employees
Answer: B,D,E
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 # 237
Joseph works as a category manager for a large electricity supply company. His company is one of six electricity companies in the country. All have a high annual spend on the same specifications of cable. There are only five cable manufacturers capable of supplying the cables. Joseph has established all the suppliers use the same raw materials using the same types of manufacturing lines. Prices tendered by all suppliers are very similar. After paying for the cable, Joseph's company spends an additional 25% on moving and installing the cable. In order to enable Joseph to gain advantage over the other electricity companies, which type of supplier relationship should he adopt?
- A. Partnership
- B. Closer tactical
- C. Transactional
- D. Single-sourced
Answer: A
Explanation:
A partnership relationship allows Joseph to collaborate with suppliers on cost savings in manufacturing, logistics, and installation, providing a competitive edge over rival companies.
NEW QUESTION # 238
Which of the following describes differentiation as a method of competitive advantage?
* A company that sets out to be the lowest-cost producer in the market
* A company that will seek to be unique in a way that is valued by buyers
* A company producing a standard or budget cost product
* A company producing a product that attracts a premium price charge
- A. 2 and 4 only
- B. 1 and 2 only
- C. 2 and 3 only
- D. 1 and 3 only
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
Differentiation involves offering unique products or services that are valued by customers, allowing the company to charge premium prices. This strategy focuses on uniqueness and added value rather than competing solely on cost.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 239
Which of the following relationship types are characterised by low levels of trust? Select TWO options
- A. Partnership
- B. Single- Sourced
- C. Outsourced
- D. Adversarial(Correct)
- E. Arm's Length
Answer: D,E
Explanation:
Adversarial and Arm's Length relationships have low levels of trust. Single Source, Partnership and Outsourcing require high level of trust. See p.5 for the Supplier Relationship Spectrum
NEW QUESTION # 240
In a partnership who is responsible for decision making?
- A. The buyer
- B. Both the supplier and the buyer
- C. The project steering committee
- D. The supplier
Answer: B
Explanation:
The correct answer is both the supplier and the buyer- joint decision making is a key aspect of partnership relationships. A project steering committee decides on priorities, suggests improvements, conducts audits etc.
See p.152
NEW QUESTION # 241
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