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| Certification Vendor: | CIPS (Chartered Institute of Procurement and Supply) |
|---|---|
| Exam Name: | Supplier Relationships |
| Exam Number: | L4M6 |
| Passing Score: | 70% |
| Exam Duration: | 90 minutes |
| Available Languages: | English |
| Exam Price: | ยฃ235.00 / $190 USD |
| Certificate Validity Period: | Valid for life; no renewal required |
| Related Certifications: | Level 5 Advanced Diploma in Procurement and Supply Management Level 3 Advanced Certificate in Procurement and Supply Operations |
| Real Exam Qty: | 60 |
| Exam Format: | Scenario-based questions, Multiple-choice questions |
| Recommended Training: | CIPS Official Learning Materials CIPS OnDemand Online Course |
| Exam Registration: | CIPS Official Registration |
| Sample Questions: | CIPS L4M6 Sample Questions |
| Exam Way: | Computer-based; available at test centres or via remote invigilation |
| Pre Condition: | No formal prerequisites; recommended basic knowledge of procurement principles or completion of Level 3 qualifications |
| Official Syllabus URL: | https://www.cips.org/qualifications/level-4-diploma-in-procurement-and-supply/l4m6-supplier-relationships/ |
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CIPS L4M6 exam is an essential step in the career development of any procurement professional. It provides a comprehensive understanding of supplier relationship management and equips candidates with the skills necessary to build successful supplier relationships. By passing L4M6 Exam, candidates can demonstrate their expertise and advance their careers in the procurement field.
NEW QUESTION # 243
The CEO of a business has asked his procurement manager to source new machinery for the factory. This machinery will help create a new line of products which will give the company a competitive edge. The CEO is heavily invested in this procurement activity as profits have been lower than expected this year and this new line of products could help increase profitability. How should the procurement manager include the CEO in the procurement activity?
Answer: B
Explanation:
The correct answer is 'The CEO is a key player- so it is important he is involved early in the process'. The CEO has high power and high interest which puts him in the top right-hand corner of Mendelow's Stakeholder Matrix (p.81). CIPS says Key Players should be involved early in the procurement process (p.82).
NEW QUESTION # 244
Which of the following are considered 'wastes' which can be removed from a business? Select THREE.
Answer: A,D,E
Explanation:
The seven wastes (as defined by Taiichi Ohno) can be remembered as Tim Wood; transportation, inventory, motion, waiting, over-processing, over-production, defects. Some people add an S onto the end of Tim Wood to make Tim Woods (the s is for skills). In some modules of CIPS, they refer to 8 wastes and include skills, but in M6 they've only put the 7 on p.70.
NEW QUESTION # 245
A restricted market is a market where there are only a small number of capable and competent suppliers.
Which of the following is not a reason for a marketplace to be restricted?
Answer: C
Explanation:
The correct answer is 'The product is easy to source elsewhere'. The other three are given as reasons a marketplace might be restricted on p.138. Other reasons also include; brand loyalty, difficult access to distribution channels, and companies colluding.
NEW QUESTION # 246
The Pareto Principle is sometimes also known as what?
Answer: B
Explanation:
Pareto is the 80:20 rule- this can be adapted to talk about supplier relationships, where instead of having 2 categories there are now 3 (A B and C). CIPS use the terms Pareto and ABC interchangeably. See p.16 for further information
NEW QUESTION # 247
Which of the following are characteristics that differentiate between a partnership relationship and traditional contracting relationships? Select THREE.
Answer: A,C,D
Explanation:
The correct answers are; no tender process, early supplier involvement and no defined end-period. A partnership wouldn't automatically mean lower costs, and in a partnership the KPIs are usually a joint performance measurement rather than set to the supplier. For more information on the difference between partnerships and contractual relationships see p.124-5
NEW QUESTION # 248
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