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| Section | Weight | Objectives |
|---|---|---|
| Know how to prepare for negotiations with external organisations | 35% | - Cost and price analysis
|
| Understand how commercial negotiations should be undertaken | 30% | - Tactics and influencing methods
|
| Understand key approaches in the negotiation of commercial agreements with external organisations | 35% | - Application of commercial negotiations in procurement and supply
|
>> Certification CIPS L4M5 Dump <<
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NEW QUESTION # 107
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?
Answer: B
Explanation:
:
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
There are four major factors to consider when determining the bargaining power of buyers:
1. Number of buyers relative to suppliers: If the number of buyers is small relative to that of suppliers, the buyer's power will be stronger.
2. Dependence of a buyer's purchase on a particular supplier: If a buyer is able to get similar products
/services from other suppliers, buyers depend less on a particular supplier. Therefore, the power of the buyer would be greater.
3. Switching costs: If there are not many alternative suppliers available, the cost of switching is high.
Therefore, buyer power would be low.
4. Backward Integration: If the buyer is able to integrate or merge suppliers, the buyer has greater bargaining power over the existing suppliers.
When is Bargaining Power of Buyers High/Strong?
There are fewer buyers relative to that of suppliers
The switching costs of the buyer are low
If the buyer is able to backward integrate
The buyer purchases product in bulk (high volume)
The buyer is able to get similar product/services from other suppliers
The buyer purchases the majority of the seller's products
Several substitutes are available on the market
Product is not differentiated
NEW QUESTION # 108
Which of the following is a source of information on microeconomic factors?
Answer: C
NEW QUESTION # 109
Which of the following will shift the supply curve to the right?
Answer: B
Explanation:
The following graph shows the factors that shift the supply curve to the left and to the right.
NEW QUESTION # 110
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.
Answer: C,E
Explanation:
Activity-based costing is an alternative approach to traditional absorption costing. The characteristics of these two methods are illustrated in the graph below:
Graphical user interface, text, chat or text message, website Description automatically generated
NEW QUESTION # 111
An organization should develop different relationships which are appropriate to each supplier situation.
Which ONE of the following analysis methods could help to identify these?
Answer: D
Explanation:
The relationship spectrum categorizes supplier relationships based on factors like strategic importance, allowing organizations to tailor their approach to each supplier relationship. CIPS emphasizes the relationship spectrum as a valuable tool for assessing and managing supplier interactions based on strategic relevance.
NEW QUESTION # 112
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