L4M5 Braindumps Pdf, Detailed L4M5 Study Dumps

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CIPS L4M5 Exam Syllabus Topics:

SectionObjectives
Topic 1: Understand the stages of commercial negotiations in procurement and supply- Analyze the types of approaches that can be pursued in commercial negotiations
  • 1. The influence of power and trust in negotiations
  • 2. Distributive (win-lose) approaches
  • 3. Pragmatic and principled approaches
  • 4. Integrative (win-win) approaches
- Understand the stages of a commercial negotiation
  • 1. Defining the ground rules
  • 2. Bargaining and problem solving
  • 3. Closure and agreement implementation
  • 4. Clarification and justification
  • 5. Preparation and planning
Topic 2: Understand the interpersonal skills required for effective negotiation- Understand the behavioral aspects of negotiation
  • 1. Concessions and trade-offs
  • 2. Perception and bias
  • 3. Conflict handling styles
  • 4. Ethical and unethical practices
- Analyze the interpersonal skills required for effective negotiation
  • 1. Influencing and persuasion skills
  • 2. Questioning and listening skills
  • 3. Assertiveness
  • 4. Body language and non-verbal communication
Topic 3: Understand how to prepare for negotiations in procurement and supply- Analyze the factors that impact on the approach to commercial negotiations
  • 1. The position of buyers and sellers
  • 2. The impact of time limits and deadlines
  • 3. Ownership and stakeholder perspectives
  • 4. Policies, procedures and protocols
- Understand how to prepare for a negotiation
  • 1. Zones of potential agreement (ZOPA)
  • 2. The best alternatives to a negotiated agreement (BATNA)
  • 3. Defining objectives and variables
  • 4. The use of bargaining mixes and trade-offs

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CIPS Commercial Negotiation Sample Questions (Q97-Q102):

NEW QUESTION # 97
Which of the following are most likely to help buyer become preferred customer in supplier's perspective?
Select TWO that apply.

Answer: B,E

Explanation:
Becoming a preferred customer to supplier's perspective can increase the purchaser's leverage in negotiation.
Beside the size of buying organisation or its spend, the following may be sufficient to differentiate the buyer from other buying organisations:
- Simple procurement processes
- Simple contracting processes
- Clear and concise documentation
- Absence of onerous supplier terms and conditions (onerous supplier terms and conditions mean that obligations imposed on suppliers are greater than their gains)
- On-time payment: The reduction in hassle for both supplier and the buyer, if bills are paid on time, is significant. From the customer's perspective it could also be the opener to agreeing preferential payment terms. A supplier may weigh up that payment on time at 60 days is worth taking, over the current 30-day terms that slip to 90 days and beyond.
- Transparent processes
- Ethical behavior
LO 1, AC 1.3


NEW QUESTION # 98
Stalemate is morelikely to happen if both parties trade more variables in a commercial negotiation. Is this assumption true?

Answer: A

Explanation:
Explanation
Negotiation variables such as price or contract length, etc arethat can be traded with TOP in a negotiation. The more variables you can identify, the better. The more variables you can identify and articulate, the lower the chances of the negotiation reaching deadlock as more possibilities are facilitated regarding more creative solutions.
Below are examples of negotiation tradeables in buying professional services:
Table Description automatically generated

Table Description automatically generated

LO 2, AC 2.3


NEW QUESTION # 99
A procurement manager is preparing fora negotiation with an important supplier. He plans to withhold some crucial information so that his company gains the upper hand in the negotiation. Is this correct when considering using integrative approach to the negotiation?

Answer: C

Explanation:
Integrative negotiation is a negotiation strategy in which the involved parties work together to find a solution that satisfies the needs and concernsof each. This process often involves group brainstorming and creative thinking for individuals to suggest different ideas that benefit both parties.
Compromising is often common in integrative negotiation, and both sides may need to give up certain needs to reach a solution. Honesty can also promote successful integrative negotiation because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result.


NEW QUESTION # 100
A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?

Answer: B

Explanation:
With non-critical commodity products, the relationship will be transactional. Buyer should not spend too much time and effort into the negotiation.
LO 1, AC 1.4


NEW QUESTION # 101
A good negotiator invests time in understanding the needs of the individuals in a negotiation. Is this statement true?

Answer: A

Explanation:
Skilled negotiators seek to understand the needs of the other parties, as well as their own. In doing so, it allows them to determine a strategy that their own needs are met. Failing to understand the other party's needs is one of the most common reason for an unsuccessful negotiation. In the commercial negotiation, procurement team does not negotiate with organisation, they negotiate with individuals. It is therefore important to recognise that there are two levels of needs:
The organisation - What the organisation wants to achieve. This is generally well stated and understood The individual - what is in it for the individual? This is generally not stated, rarely discussed, but very motivational. It is vitally important therefore that time is invested in understanding the needs of the individual Skilled negotiators are aware of the needs that occur at both levels, and develop creative options and strategies that attempt to satisfy these needs.


NEW QUESTION # 102
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