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| Certification Vendor: | CIPS (Chartered Institute of Procurement and Supply) |
|---|---|
| Exam Name: | Supplier Relationships |
| Exam Number: | L4M6 |
| Passing Score: | 70% |
| Real Exam Qty: | 60 |
| Certificate Validity Period: | Valid for life; no renewal required |
| Exam Format: | Scenario-based questions, Multiple-choice questions |
| Exam Duration: | 90 minutes |
| Exam Price: | £235.00 / $190 USD |
| Available Languages: | English |
| Related Certifications: | Level 3 Advanced Certificate in Procurement and Supply Operations Level 5 Advanced Diploma in Procurement and Supply Management |
| Recommended Training: | CIPS OnDemand Online Course CIPS Official Learning Materials |
| Exam Registration: | CIPS Official Registration |
| Sample Questions: | CIPS L4M6 Sample Questions |
| Exam Way: | Computer-based; available at test centres or via remote invigilation |
| Pre Condition: | No formal prerequisites; recommended basic knowledge of procurement principles or completion of Level 3 qualifications |
| Official Syllabus URL: | https://www.cips.org/qualifications/level-4-diploma-in-procurement-and-supply/l4m6-supplier-relationships/ |
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CIPS L4M6 exam, also known as CIPS Supplier Relationships, is an important certification that is designed to help procurement professionals manage their supplier relationships efficiently. L4M6 exam is ideal for professionals working in the procurement industry who want to enhance their knowledge of supplier management and build their skills to deliver better value for their organization. L4M6 Exam focuses on building effective supplier relationships that deliver benefits such as cost savings, more efficient processes and higher quality goods and services.
NEW QUESTION # 57
Fred is a new procurement manager at a large engineering firm. They procure 100s of components and use these to make kitchen appliances such as kettles and toasters. He has been asked by his manager to look into procuring a new component which will go into a new environmentally friendly kettle and has been asked to ensure that the firm receives value for money. What should Fred do?
Answer: D
Explanation:
Fred should hold a competition as this is a 'key way of achieving value for money' p.67. Fred shouldn't put a business case together to make the product in-house without doing a make vs buy analysis, and that analysis showing make is the way to go. As the firm buy in 100s of components, it's very unlikely that making the component in-house would bring 'value for money'. He should also be careful of only looking at current suppliers or known suppliers- the best supplier of this new component might be unknown to the engineering firm at present.
NEW QUESTION # 58
Victoria runs a hotel and has recently had several security issues such as attempted robberies. She has decided that she needs to hire a security firm to ensure these issues don't continue. She has done some research and has found there are several local security firms who may be able to provide services to her hotel. However, she hasn't decided exactly what she would require the security firm to do. What should be Victoria's next steps?
Answer: B
Explanation:
Victoria should use a 'request for proposal' - this allows the security firms to submit ideas on how best to serve the hotel. They might come up with some ideas that Victoria hasn't thought about and can price against their own ideas. As Victoria doesn't have a concrete specification, an ITT or RFQ are not appropriate. A PIN tells suppliers that a tender opportunity is coming up and is used in the Public Sector. A hotel is not a Public Sector organisation. See p.76 for more information on when to issue a Request for Proposal
NEW QUESTION # 59
Within a supplier's terms and conditions, they have a 'mutual termination for convenience' clause, which requires either party to provide 30 days' notice. Before the buyer signed the agreement, a procurement colleague recommended that the buyer should request this be amended to 90 days' notice. Was this amendment the correct thing to do?
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
Extending the notice period in a mutual termination for convenience clause provides the buyer with additional time to:
* Identify and engage alternative suppliers
* Ensure continuity of supply
* Mitigate risks associated with abrupt contract termination
This proactive approach aligns with best practices in contract management, allowing for smoother transitions and minimizing potential disruptions.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 60
A vehicle company has a partnering relationship with the manufacturer of its engines. The manufacturer is considered a key partner and is already involved in product development at the vehicle company in several strategic projects. The car company and engine manufacturer have integrated systems for a just-in-time (JIT) delivery. Is this an example of a significant integration partnership?
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
The described relationship includes:
* Joint Product Development:Collaborative involvement in strategic projects indicates a deep partnership.
* Integrated Systems:JIT delivery systems require synchronized operations, reflecting significant integration.
These elements are hallmarks of a significant integration partnership.
Reference:
"Strategic Supply Chain Partnership"-ResearchGate: Strategic Supply Chain Partnership
NEW QUESTION # 61
What is the correct order of the stages of team development?
Answer: C
Explanation:
The correct answer is Forming, storming, norming, performing (p.91). Note; some people add on two additional stages to this; mourning and adjourning. The study guide forgets to mention this, but the exam may ask you about these additional stages. So I strongly recommend doing some further reading on this (it's called the Tuckman Group Development Model)
NEW QUESTION # 62
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