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CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for professionals who are involved in procurement, supply chain management, sales, and contract management. Commercial Negotiation certification is particularly useful for those who are responsible for negotiating contracts, pricing, and terms of service. By gaining this certification, you will be able to enhance your skills and knowledge in commercial negotiation, which will enable you to negotiate more effectively and achieve better outcomes for your organization.
CIPS L4M5 Exam covers a range of topics related to commercial negotiation, including the principles of negotiation, negotiation styles and tactics, and the legal and ethical considerations involved in negotiation. L4M5 exam is designed to test candidates' abilities to effectively negotiate contracts, manage stakeholder relationships, and achieve mutually beneficial outcomes in commercial transactions.
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CIPS L4M5 (Commercial Negotiation) Certification Exam is an essential qualification for professionals who are involved in commercial negotiations. Commercial Negotiation certification is designed to help individuals gain the skills and knowledge necessary to succeed in the world of commercial negotiation. L4M5 Exam is offered by the Chartered Institute of Procurement and Supply (CIPS), a global organization that promotes excellence in procurement and supply chain management.
NEW QUESTION # 382
Representatives from South African Department of Health is negotiating the price of hospital drugs with US pharmaceutical companies. Which of the following are most likely to be macro factors that influence the outcomes of the negotiation? Select TWO that apply.
Answer: A,C
Explanation:
Explanation
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forceswhich both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
Table Description automatically generated
Particularly, pharmaceutical industry is a heavily regulated sector, therefore, legal and regulatory matters in theindustry is highly important. Otherwise, technological trends also permeate into pharmaceutical companies, technologies like digitalisation may transform the balance of power in such negotiation.
LO 1, AC 1.3
NEW QUESTION # 383
Sally is negotiating with an oversea supplier on the price and payment period. Her company and the supplying organisation are equal in bargaining power. The supplier says that they are investing in new facilities and machinery so the payment period should not be longer than 30 days. Sally knows that her company often pays the suppliers after 45 days from the delivery, but at the moment the company has positive cash flow and it is able to pay immediately. Which of the following should be Sally's concession plan?
Answer: D
Explanation:
In the scenario, the length of payment period is particularly important to the supplier as they are investing new facilities. Otherwise, the buyer's company has a positive cash flow position and budget is available for a shorter payment terms. So this tradeable (payment period) is important to supplier but it is not a significant problem with the buyer. This tradeable will fall within 'Easy concession to trade' quadrant in the following matrix:
Table Description automatically generated
If the tradeable fall within this quadrant, Sally should shorten the payment period in supplier's favour and try to win as many concessions as possible in return. Asking for a discount may be a reasonable trade-off.
LO 2, AC 2.3
NEW QUESTION # 384
Which of the following are stages within the negotiation process?
* Planning and preparation
* Arguing and persuasion
* Accepting hospitality
* Testing and proposing
Answer: D
Explanation:
The formal negotiation process includes planning and preparation (objectives, BATNA, MIL) and testing
/proposing (exchanging offers). Hospitality is not a stage-it may support relationships but is not part of structured negotiation. Arguing/persuasion occurs within bargaining but is not defined as a stage in itself.
Understanding the stages ensures structured progress and prevents disorganised discussions, which often result in suboptimal agreements.
Reference: CIPS L4M5 (2nd ed.), LO 2.2 - Stages of the negotiation process.
NEW QUESTION # 385
AB Manufacturing seeks to buy a new materials resource planning (MRP) software system. At the 'defining the business need' stage of the procurement cycle, the procurement manager ensured that all the internal stakeholders involved had the power to contribute and sign off on requirements. For the MRP system, the procurement manager consulted the head of production planning of AB Manufacturing. The head of production contributed to demand levels, existing manufacturing planning, and existing staff levels. What type of power does the head of production demonstrate?
Answer: A
Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.3 - Sources of Power in Negotiation
NEW QUESTION # 386
Sumitomo Rubber Industries (SRI) is a Japan-based tyre manufacturer. In order to increase production, SRI is sourcing rubber from Southeast Asian firms. Which of the following micro factors are most likely to shift the balance of power to supplier? Select TWO that apply
Answer: A,E
Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical Micro level: Porter's five forces:
Diagram Description automatically generated
One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases supplier's bargaining power. Among 5 answers, only 2 are likely to increase buyer's power:
There are no close substitutes for rubber: the buyer has to buy rubber, not any other material.
Costs of changing suppliers are high: buyer entails a large barrier if they want to switch supplier.
Other answers cannot be correct because:
SRI sets up its own rubber plantation: Buyer secures its own supply
SRI's purchase amount makes significant proportion of supplier revenue: Suppliers are reliant on buyer. If the buyer stops buying from them, they can face serious cash flow problems Rubber from different suppliers is virtually similar: undifferentiated product would shift the power balance towards buyer.
NEW QUESTION # 387
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