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CIPS L4M6 certification exam covers a range of topics, including supplier selection and evaluation, contract management, performance measurement, and risk management. It is intended for professionals who are responsible for managing supplier relationships at all levels, from operational to strategic. L4M6 Exam is designed to test both theoretical knowledge and practical skills, so candidates are required to demonstrate their ability to apply concepts in real-world scenarios.
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CIPS L4M6 exam is a critical component of the CIPS Level 4 Diploma in Procurement and Supply, and it focuses on the importance of supplier relationships in procurement and supply chain management. It is a challenging exam that requires a deep understanding of procurement and supply chain management concepts and principles. Passing L4M6 Exam is a significant achievement that demonstrates a commitment to professional development and opens up new opportunities for career advancement in the procurement and supply chain management field.
NEW QUESTION # 131
Harry has just entered into a partnership with a key supplier. Although he is excited about the prospect, he thinks it's a good idea to set some goals and KPIs. Which of the following criteria should Harry use to decide if a KPI is appropriate?
Answer: B
Explanation:
The correct answer is Measurable, achievable and relevant. This is from SMART KPIs on p. 151. Smart stands for specific, measurable, achievable, relevant, time-bound. In the exam they come up in different orders so be careful.
NEW QUESTION # 132
Andrew runs a factory that makes cakes. Vanilla Extract is a vital ingredient in Andrew's cakes and this is a monopolistic market. Andrew has noticed recently that the quality of the supplier's product has reduced, and this has led to several complaints from customers. Andrew is considering entering into a Partnership with this supplier as he believes this will help increase the supplier's performance. Is this the correct thing to do?
Answer: D
Explanation:
The correct answer is 'Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer'. The important thing to note in this Question: is the word 'monopolistic'. This means that there are no alternative suppliers- so the 'no' options are wrong- there are no alternative suppliers and no opportunity to outsource. The other answer is incorrect as sales figures isn't Andrew's concern - it's the complaints and quality of the product. Improving performance to satisfy end customers is therefore his main driver for considering a Partnership. See p. 127 for more information on Drivers of Partnership Sourcing. This comes up a lot in the exam
NEW QUESTION # 133
A car manufacturer orders engine components from a supplier. The engine is the most expensive component and without it production cannot continue. Where should the supplier be positioned in the supply chain?
Answer: B
Explanation:
Using Kraljic's Portfolio Matrix, CIPS classifies items based on:
* Financial impact
* Supply risk
Engines have:
* High financial value
* High supply risk, as production cannot proceed without them
This places the supplier firmly in the strategic quadrant, requiring close relationship management, risk mitigation, and long-term collaboration.
L4M6 Reference:
* Learning Outcome 2: Understand supply positioning and risk
* Topic: Kraljic portfolio analysis
* CIPS L4M6 Study Guide - Strategic items and supplier relationships
NEW QUESTION # 134
The Managing Director of XYZ Ltd has asked the Procurement Manager to support the engineering team and ensure a new product design is suitable for volume manufacturing. The Procurement Manager arranged a series of meetings with suppliers and its internal development team, the XYZ manufacturing department, and research and development department to get their feedback on the proposed design. What are the activities undertaken by XYZ Ltd called?
* Early supplier involvement
* Benchmarking
* Cross-organisational involvement
* Subcontracting
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
Early Supplier Involvement (ESI) refers to the practice of involving suppliers early in the product development process to leverage their expertise and capabilities. Cross-organisational involvement entails collaboration across various departments within the organization, such as procurement, engineering, manufacturing, and R&D, to ensure the product design is feasible and efficient for production.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 135
A restricted market is a market where there are only a small number of capable and competent suppliers.
Which of the following is not a reason for a marketplace to be restricted?
Answer: D
Explanation:
The correct answer is 'The product is easy to source elsewhere'. The other three are given as reasons a marketplace might be restricted on p.138. Other reasons also include; brand loyalty, difficult access to distribution channels, and companies colluding.
NEW QUESTION # 136
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