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CIPS L4M6 (CIPS Supplier Relationships) Certification Exam is an internationally recognized certification that is designed to equip procurement professionals with the knowledge and skills necessary to manage supplier relationships effectively. CIPS Supplier Relationships certification is targeted at professionals who are responsible for managing supplier relationships and those who are involved in the procurement process.
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CIPS L4M6 exam is a crucial test for anyone looking to advance their career in procurement and supply chain management. By demonstrating expertise in supplier relationships, professionals can show that they are capable of managing suppliers effectively and helping their organization achieve its goals. L4M6 Exam is designed for those who have already completed the CIPS Level 4 Diploma in Procurement and Supply, and passing it is a requirement for achieving the full diploma.
NEW QUESTION # 166
A textile company is purchasing a new item which is low value. This item is likely never to be required again by the company and is widely available from many different suppliers. Which commercial relationship type would be most effective for the buyer to choose?
Answer: B
Explanation:
For low-value, non-recurring items with many suppliers, an adversarial relationship focusing on competitive pricing and minimal engagement is most appropriate. Partnerships are unnecessary for such transactions.
NEW QUESTION # 167
In the Purchasing Portfolio Matrix, a bottleneck product is one which is purchased in a small quantity but has the potential to halt production at a factory. Is this TRUE or FALSE?
Answer: B
Explanation:
In the Kraljic Purchasing Portfolio Matrix, bottleneck items are:
* Low value/low spend (low importance to profit impact).
* High supply risk (complex or limited supplier market).
Even though the spend is low, their absence can halt production because alternatives are limited. This makes them strategically significant despite their low financial importance.
NEW QUESTION # 168
Barry is a procurement manager at Sea Biscuits, a company which manufactures biscuits in the shape of dolphins and starfish. He works in an office that orders stationary regularly for its 100 person workforce. Stationary is a low-spend category item and Barry often orders stationary from different suppliers based on which supplier can provide the item the cheapest at that point in time. According to the Kraljic matrix, what type of suppliers provides stationary to Barry?
Answer: C
Explanation:
Stationary is a routine item; it is ordered often (as Barry uses different suppliers), it is a low category spend, and low risk to the business' operations (a late delivery of pens isn't going to stop the company making its biscuits). There are lots of questions on Kraljic in the exam - do revise this topic and ensure you understand each of the four quadrants of the matrix (see p.20)
NEW QUESTION # 169
A partnership was created between a company and one of its local suppliers when the managing directors of each company met and thought partnering could be a good idea. No other departments were included in the discussions. The partnership has been in place for over a year, but neither of the companies has achieved any additional benefits. The company has been unable to offer any increased business to the supplier, and the supplier has been unable to improve on the quality of its products. The partnership is going to be terminated.
What is a possible main reason for the failure of the partnership?
Answer: C
Explanation:
Partnerships require careful planning, including alignment of goals, stakeholder involvement, and clear expectations. Poor planning leads to unmet objectives and lack of value generation, as highlighted by CIPS.
NEW QUESTION # 170
The Public Sector in the UK is unable to enter into formal partnership relationships with any supplier. Is this statement TRUE?
Answer: A
Explanation:
The correct answer is 'Yes- the Public Sector is regulated by EU procurement regulations which prohibits this'. This is stated on p.122. Please note that this study guide and exam were written before Brexit. Once Brexit happens, nobody knows what will happen with this.
NEW QUESTION # 171
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