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The CIPS L4M6 exam covers various topics such as supplier selection, evaluation, and performance management. It also covers supplier development and collaboration, contract management, and ethical issues in supplier relationships. L4M6 exam is suitable for procurement professionals at all levels, including those who are new to procurement and those who have extensive experience in the field. Overall, the CIPS L4M6 Exam is an essential certification for procurement professionals who want to develop their skills in supplier relationship management to achieve strategic procurement goals.
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To be eligible for the CIPS L4M6 certification exam, candidates must have completed the CIPS Level 4 Diploma in Procurement and Supply or an equivalent qualification. L4M6 exam consists of 60 multiple-choice questions and is available in both paper-based and computer-based formats. Candidates have two hours to complete the exam, and a passing score of 60% is required to obtain the certification. Additionally, the CIPS L4M6 certification is valid for three years, after which candidates may need to complete a re-certification process to maintain their certification status.
Successful completion of the CIPS L4M6 Certification Exam demonstrates that an individual has the necessary knowledge and skills to effectively manage supplier relationships and drive value for their organization. CIPS Supplier Relationships certification is recognized globally and can lead to increased job opportunities, higher salaries, and greater professional recognition.
NEW QUESTION # 34
'Achieving value for money' for a public sector organisation is its primary procurement objective. Is this statement correct?
Answer: C
Explanation:
CIPS defines value for money (VFM) as achieving the optimal balance between cost, quality, and sustainability over the whole life of the requirement.
Public sector procurement is governed by principles of:
* Transparency
* Fairness
* Accountability
* Best use of public funds
VFM does not mean lowest price; it means best outcome for the organisation and taxpayers, which includes quality, risk, and whole-life cost.
L4M6 Reference:
* Learning Outcome 1: Understand objectives of procurement and supply
* Topic: Public sector procurement objectives
* CIPS L4M6 Study Guide - Value for money and public accountability
NEW QUESTION # 35
In public sector procurement, according to EU legislation, certain items must be procured via open- competition. What type of items are these?
Answer: A
Explanation:
The correct answer is 'items of high value'. This links into the EU procurement principle of 'Proportionality' meaning that the procurement process must be proportionate to the value of the contract. Therefore, high value contracts must be procured via competition. What is considered 'high value' is decided by 'thresholds'.
These are amended every 2 years to account for inflation etc, but you don't need to know what the thresholds are for this exam. P.75
NEW QUESTION # 36
A buying organisation has decided to terminate its partnership with its supplier (FGH). For some time, the supplier has not been proactive in advising when deliveries will be late, which has frustrated the buying organisation. The supply market has historically been limited to a small number of suppliers, but new suppliers have decided that the market is attractive. The buying organisation is now considering setting up a partnership with a new supplier (XYZ) who has recently entered the market. What are the reasons for the buying organisation deciding to terminate its relationship with supplier FGH? Select TWO that apply.
Answer: A,D
Explanation:
Comprehensive and Detailed Explanation:
The buying organisation's decision to terminate the partnership with supplier FGH is influenced by:
* Changes in the composition of the supply market: The entry of new suppliers into the market provides the buying organisation with more options, reducing dependency on FGH and enabling the pursuit of better partnerships.
* Poor communication by the supplier: FGH's lack of proactive communication regarding delivery delays has led to frustration, indicating a breakdown in the partnership's effectiveness.
These factors align with the principles of supplier relationship management, where effective communication and adaptability to market changes are crucial.
Reference:
"Poor communication by the supplier" and "Changes in the composition of the supply market" are valid reasons for terminating a supplier relationship.- Docsity: CIPS Supplier Relationships L4M6 Questions and Answers
NEW QUESTION # 37
In the Purchasing Portfolio Matrix, a leverage product is a product in a market where it is easy to switch suppliers and the quality is standardized. Is this TRUE or FALSE?
Answer: B
Explanation:
Leverage products are characterized by high spend and low complexity, giving buyers the ability to negotiate favorable terms due to supplier competition and standardization.
NEW QUESTION # 38
Togo Bongos is a manufacturer of percussion instruments, in particular of bongo drums. It requires electricity to run its factories and this is a major factor of cost impact. There are lots of suppliers of electricity in the market and there is no switching costs if Togo Bongos wanted to switch suppliers. What type of supplier is Togo Bongo's electricity supplier?
Answer: D
Explanation:
This is a leverage supplier on the Kraljic Matrix; high cost impact and low risk impact. The diagram on p.20 gives the example of utility services such as electricity as a common leverage supplier. There are lots of questions on Kraljic in the exam - do revise this topic and ensure you understand each of the four quadrants of the matrix
NEW QUESTION # 39
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