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CIPS L4M6 certification focuses on the practical aspects of supplier management, including supplier selection, supplier evaluation, and supplier development. L4M6 course content also covers the development of contractual relationships with suppliers, managing supplier performance, and resolving conflicts with suppliers. CIPS Supplier Relationships certification provides procurement professionals with the tools and techniques they need to ensure that suppliers meet their contractual obligations, deliver value for money, and contribute to the success of the organization.
CIPS L4M6 Exam is a critical exam for procurement professionals seeking to advance their careers in supplier relationship management. L4M6 exam covers various aspects of supplier relationships, including selection, negotiation, contract management, and performance management. It is an advanced level exam that requires a thorough understanding of procurement and the role of supplier relationships in achieving organizational objectives. Candidates who pass L4M6 exam gain valuable skills and knowledge that can help them to excel in their roles as procurement professionals.
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CIPS L4M6 certification exam is an advanced level certification exam that focuses on the key concepts and principles of supplier relationships. L4M6 exam is designed for procurement professionals who want to enhance their skills and knowledge in managing supplier relationships effectively. L4M6 Exam covers a wide range of topics related to supplier management, including contract management, supplier performance management, and supplier risk management. CIPS Supplier Relationships Sample Questions (Q14-Q19):NEW QUESTION # 14
Which of the following is an important step in partnership sourcing?
A. Imposing and enforcing unrealistic KPIs
B. Selling the idea to management
C. Ensuring the other party has as little margin as possible
D. Secretly formulating an exit strategy
Answer: B
Explanation:
For partnership sourcing to succeed, senior management buy-in is essential. Selling the idea internally ensures commitment of resources, trust, and long-term strategy alignment. Options A and D undermine partnerships, while B contradicts the open and collaborative nature of partnership sourcing.
NEW QUESTION # 15
What is a valid reason for terminating a commercial relationship?
A. Fulfilment of the contract
B. One late delivery
C. A change of management within the other party, but no change to the company ethos
D. The other party seeks to trade with other parties alongside you
Answer: A
Explanation:
Contracts are normally terminated when their obligations have been fulfilled. Termination due to one late delivery or management changes would be unreasonable unless specified in the contract. Trading with other parties is common unless exclusivity clauses exist.
NEW QUESTION # 16
Which one of the following would constitute a succession issue when terminating a relationship?
A. Payment of old invoices
B. Deletion of old specifications
C. Continuity of supplies
D. Processing penalties
Answer: C
Explanation:
Ensuring continuity of supplies is critical during termination to avoid disruptions. Succession issues focus on maintaining essential operations while transitioning to new suppliers or arrangements.
NEW QUESTION # 17
Which of the following are characteristics that differentiate between a partnership relationship and traditional contracting relationships? Select THREE.
A. No defined end period
B. No tender process
C. Lower costs
D. Early supplier involvement
E. Supplier KPIs
Answer: A,B,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 # 18
Partnership sourcing is often considered a 'high-risk' strategy for a buyer. Which of the following is not a risk generally associated with partnership sourcing?
A. Sharing commercially sensitive data with another party
B. Supplier may become complacent
C. Reduced waste in the supply chain
D. Single-sourcing may leave the buyer without a supply if the supplier goes into liquidation
Answer: C
Explanation:
The correct answer is 'Reduced waste in the supply chain' - this is not a risk, this is a benefit P.134