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CIPS L4M6 exam is a computer-based exam that consists of 60 multiple-choice questions. Candidates have two hours to complete the exam, and the pass mark is 60%. L4M6 exam is assessed on a scaled score system, which means that the final score is adjusted based on the difficulty level of the questions. L4M6 exam is available at CIPS exam centers worldwide, and candidates can book their exam online through the CIPS website.
Candidates who obtain the CIPS L4M6 Certification Exam are recognized as experts in supplier relationship management. CIPS Supplier Relationships certification is a valuable asset for procurement professionals who want to advance their careers or demonstrate their expertise to their colleagues and employers. It is also a requirement for professionals who want to obtain the CIPS Advanced Certificate or the CIPS Professional Diploma in Procurement and Supply.
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CIPS L4M6 certification exam is an important qualification for procurement professionals who are looking to enhance their skills and knowledge when it comes to managing supplier relationships. L4M6 exam is part of the Chartered Institute of Procurement and Supply (CIPS) program, which is recognized globally as the leading procurement professional body. The CIPS L4M6 Certification Exam is designed to help procurement professionals develop a deep understanding of supplier relationship management and to help them apply best practices to their day-to-day work.
NEW QUESTION # 17
A large office orders weekly from a stationery supplier. The items are low cost and if the delivery is a day late it does not affect the running of the office. Where would this supplier be positioned in a supplier matrix?
Answer: A
Explanation:
Routine items are low risk and low value. They are non-critical and often easily sourced. CIPS categorizes such items in the 'Routine' quadrant of the Kraljic Matrix, where minimal procurement effort is justified and supply assurance is easily managed.
NEW QUESTION # 18
In an oliogopy market, what would a regulator do?
Answer: D
Explanation:
In an oliogopy, supplier power is strong. Sometimes regulators are required in the market to prevent the group of suppliers conspiring together to artificially increase prices. See p.40 for more information on Oligopy markets.
NEW QUESTION # 19
Which of the following are advantages for the buyer in a partnership arrangement?
* Price stability
* Cost of relationship management
* Supplier complacency
* Cost savings achieved
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
Partnership arrangements often lead to price stability, as both parties work collaboratively to manage costs and avoid market volatility. Additionally, such relationships can result in cost savings through joint process improvements, shared investments, and economies of scale. While managing a partnership does incur relationship management costs, these are typically offset by the benefits gained. Supplier complacency is a potential risk but not an inherent advantage of partnerships.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 20
Which of the following would be benefits of partnership sourcing? Select TWO that apply.
Answer: B,D
Explanation:
Partnership sourcing improves efficiency through cost reduction and ensures continuity of supply by fostering long-term, collaborative relationships with key suppliers, as highlighted in CIPS guidelines.
NEW QUESTION # 21
A confectionery company has a portfolio of different items to sell. Their most popular product is the chocolate brownie cake, but they have begun to trial sales of cereal bars, granola cereal, and chewing gum. As a high- quality producer in a competitive market, the company requires effective supplier sourcing arrangements.
Which ONE of the following product lines would be the most suitable for partnership sourcing?
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
Partnership sourcing is most appropriate for products that are critical to the buyer's business, involve high spend, and are technically complex or require innovation. The chocolate brownie cake is the company's most popular product, indicating high sales volume and strategic importance. Establishing a partnership with suppliers for this product can lead to benefits such as improved quality, innovation, and supply chain efficiency.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 22
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