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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Supplier Relationships |
| Exam Number: | L4M6 |
| Certificate Validity Period: | N/A (exam module within diploma) |
| Available Languages: | English |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Format: | Multiple choice |
| Passing Score: | 50 |
| Real Exam Qty: | 50 |
| Exam Price: | N/A (included in course fees) |
| 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/ |
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CIPS L4M6 exam is a crucial test for anyone looking to advance their career in procurement and supply chain management. By demonstrating expertise in supplier relationships, professionals can show that they are capable of managing suppliers effectively and helping their organization achieve its goals. L4M6 Exam is designed for those who have already completed the CIPS Level 4 Diploma in Procurement and Supply, and passing it is a requirement for achieving the full diploma.
NEW QUESTION # 195
Is it correct to suggest that the sole objective of partnership sourcing is to achieve the lowest acquisition cost?
Answer: C
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 # 196
Danny is procuring a new IT software, which he doesn't know much about. He has done a bit of research on the internet but is still unsure how much he can expect to pay. What should be Danny's next step?
Answer: B
Explanation:
Danny should issue a RFI (Request for Information). His next step would be to find out more about the products available by asking suppliers for information- this will help him put a spec together before he goes out to tender. The other options mean; RFQ - request for quotation- when you ask suppliers to submit a price. ITT- Invitation to tender - a document you send out to suppliers which details all the information about the tender (this usually involves both price and quality components of assessment). OJEU- Official Journal of the European Union- where tenders for the Public Sector are published. For more info on RFI see p.74
NEW QUESTION # 197
Red Ltd and Blue Ltd have had a disagreement over a high value project they have been partnering on. They have been unable to resolve the issues inhouse and Red Ltd has suggested Mediation as an option. Is this a good option?
Answer: D
Explanation:
The correct answer is 'Yes- mediation involves a neutral third party and gets both parties to attempt to reach a compromise'. Be careful not to confuse mediation with arbitration - arbitration is when the buyer and supplier agree to accept a third party's decision which will solve the disagreement issues. See p.112 for more information on solving disputes
NEW QUESTION # 198
A textile company is purchasing a new item which is low value. This item is likely never to be required again by the company and is widely available from many different suppliers. Which commercial relationship type would be most effective for the buyer to choose?
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
For one-off, low-value purchases that are readily available from multiple suppliers, anadversarialrelationship is often appropriate. This type of relationship is transactional, with minimal collaboration or long-term commitment. The focus is on obtaining the best price and terms for a specific purchase without investing in developing a deeper relationship.
Reference:
"Adversarial relationships are typically used for low-value, one-off purchases where there is little need for collaboration."- CIPS L4M6 Study Guide
NEW QUESTION # 199
Which of the following are possible drivers for partnership sourcing? Select THREE.
Answer: B,C,D
Explanation:
The correct answers are; The marketplace has become more volatile, Working together will create synergies and The need to improve performance to satisfy the end customer. Further Drivers ofPartnership Sourcing can be found on p.127. The other answers are incorrect as entering a partnership won't protect intellectual property rights- in fact that's one of the big risks of entering into a partnership. Partnerships won't increase costs and lead-times, they're likely to decrease them.
NEW QUESTION # 200
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