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These questions will familiarize you with the L4M6 exam format and the content that will be covered in the actual test. You will not get a passing score if you rely on outdated practice questions. ValidVCE has assembled a brief yet concise study material that will aid you in acing the CIPS Supplier Relationships (L4M6) exam on the first attempt. This prep material has been compiled under the expert guidance of 90,000 experienced CIPS professionals from around the globe.
| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Supplier Relationships |
| Exam Number: | L4M6 |
| Real Exam Qty: | 50 |
| Exam Format: | Multiple choice |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Price: | N/A (included in course fees) |
| Available Languages: | English |
| Certificate Validity Period: | N/A (exam module within diploma) |
| Passing Score: | 50 |
| Exam Duration: | 90 minutes |
| Sample Questions: | CIPS L4M6 Sample Questions |
| Exam Way: | Online proctored or paper-based (depending on exam centre) |
| Pre Condition: | No formal prerequisites, but recommended to complete L4M1-L4M5 or have equivalent procurement experience |
| Official Syllabus URL: | https://www.cips.org/ |
The ValidVCE is a trusted and reliable platform that has been helping the CIPS Supplier Relationships (L4M6) certification exam candidates for many years. Over this long time period, the L4M6 Exam Practice questions have helped the L4M6 exam candidates in their preparation and enabled them to pass the challenging exam on the first attempt.
The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that provides training and certification for procurement and supply chain professionals. The CIPS L4M6 (CIPS Supplier Relationships) Certification Exam is designed to test the knowledge and skills of professionals in managing supplier relationships effectively.
NEW QUESTION # 261
According to Michael Porter, what is procurement?
Answer: A
Explanation:
This question refers to Porter's Value Chain (p.35). There's a couple of questions on this in the exam so try to learn it. Procurement is a 'support activity' on this matrix along with firm infrastructure, HR and technology development
NEW QUESTION # 262
Red Manufacturing work with around 40 different suppliers. One of these suppliers is Blue Business. Red Manufacturing order regularly from Blue Business, and have never had any issues with their performance. The materials Blue Business supply are of low value and there are several other suppliers of these materials in the market. What type of relationship should Red Manufacturing seek to have with Blue Manufacturing?
Answer: A
Explanation:
The correct answer is 'arms length'. This is a tactical purchase (as it is low value) and keeping the supplier at arms-length means that Red Manufacturing could possibly exploit them to reduce their prices (think back to the Kraljic matrix and where Blue Business would likely fall). A Partnership or Single- Source relationship requires investment into the relationship, and as the products are low value and Red Manufacturing have a lot of other suppliers, they should not be investing time in developing that relationship with Blue Business. An adversarial relationship wouldn't be advantageous as it may lower the performance of the supplier. See the relationship spectrum on p.5 - this is a hot topic for the exam
NEW QUESTION # 263
Is it correct to suggest that the sole objective of partnership sourcing is to achieve the lowest acquisition cost?
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
Partnership sourcing is a strategic approach that emphasizes long-term collaboration between buyers and suppliers to achieve mutual benefits. While achieving a competitive acquisition cost is a component, it is not the sole objective. Partnership sourcing also focuses on:
* Quality Improvement:Ensuring that products or services meet or exceed quality standards.
* Innovation:Collaborating on new product development and process improvements.
* Risk Management:Sharing information to anticipate and mitigate risks.
* Supply Chain Efficiency:Streamlining processes to reduce lead times and inventory levels.
Therefore, while cost is important, partnership sourcing encompasses a broader range of objectives aimed at creating value for both parties.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 264
Which of the following are characteristics that differentiate between a partnership relationship and traditional contracting relationships? Select THREE.
Answer: B,C,E
Explanation:
The correct answers are; no tender process, early supplier involvement and no defined end-period. A partnership wouldn't automatically mean lower costs, and in a partnership the KPIs are usually a joint performance measurement rather than set to the supplier. For more information on the difference between partnerships and contractual relationships see p.124-5
NEW QUESTION # 265
The Pareto Principle is sometimes also known as what?
Answer: B
Explanation:
Pareto is the 80:20 rule- this can be adapted to talk about supplier relationships, where instead of having 2 categories there are now 3 (A B and C). CIPS use the terms Pareto and ABC interchangeably. See p.16 for further information
NEW QUESTION # 266
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