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CIPS L4M5 certification exam consists of five units, each with its own specific learning outcomes. These units cover a range of topics, including the principles of negotiation, the negotiation process, the legal and ethical aspects of negotiation, and the importance of building long-term relationships with suppliers. The CIPS L4M5 Certification Exam is designed to provide professionals with a broad understanding of commercial negotiation and to equip them with the skills and knowledge needed to excel in their roles.
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CIPS L4M5 exam is a comprehensive exam that is designed to test the knowledge and skills of procurement and supply chain professionals in commercial negotiation. It is a 2-hour exam that consists of 60 multiple-choice questions. Candidates are required to score at least 50% to pass the exam. L4M5 Exam is available in both paper-based and computer-based formats, and it is held in various locations around the world.
NEW QUESTION # 19
Which of the following are most likely to be sources of conflict that can emerge from the content of commercial negotiations? Select TWO that apply.
Answer: A,E
Explanation:
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent position - the content of negotiation:
Table Description automatically generated
Cultural differences are the source of conflict in the process of negotiation.
Requisition is an internal document raised by user or store to communicate to procurement the need to buy the product or service specified. This is merely a internal document.
Framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
LO 1, AC 1.1
NEW QUESTION # 20
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?
Answer: D
NEW QUESTION # 21
A senior buyer analyses the supply market and he realises that his organisation is treated as Exploit according to supplier's perspective model. What does he need to do?
Answer: A
Explanation:
The supplier's perspective model has two axes: Spend value and Attractiveness:
Chart, table Description automatically generated
Exploit is the quadrant where the buyer has high spend but low attractiveness. Overarching supplier objective would be: "Milk this customer and charge a high price to compensate for all the pain they put us through".
The buyer should increase its attractiveness to raise the position to Core customer. To do this, a buyer may:
- Simplify procurement processes
- Simplify contracting processes
- Use clear and concise documentation
- Eliminate onerous supplier terms and conditions
- Make the payment on time
- Use transparent processes
- Promote ethical behaviours
LO 1, AC 1.4
NEW QUESTION # 22
Which of the following types of relationship would possibly lead to a distributive negotiation?
Answer: D
NEW QUESTION # 23
Which of the following can help both parties to break the vicious cycle of blame when a relationship needs repairing? Select TWO that apply.
Answer: A,D
Explanation:
In order to break vicious cycle of blame, procurement will need to use their negotiation and conflict management skills,adopting a collaborative and integrative approach. Your first action should be to establish the facts that led to the situation where the relationship broke down. Most day-to-day relationship between buying organisations and suppliers do not of course involve procurement staff, so you will need to consult with your business partners internally to establish their point of view of where the issue and sources of conflict are. You should also contact the supplier and get their side of the story - this is particularly to when you have previously identified the supplier as critical or otherwise important to your operations. Ideally you will be able to apply principled negotiation here, separating the people from the issue, focusing on interests and not positions,and then looking for options of mutual benefits.
NEW QUESTION # 24
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