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CIPS L4M6 certification exam is designed for professionals who are interested in enhancing their knowledge and skills in managing supplier relationships. L4M6 exam is part of the Level 4 program offered by the Chartered Institute of Procurement and Supply (CIPS), which is a globally recognized professional body for procurement and supply chain management.
CIPS L4M6 exam is an advanced-level qualification that is suitable for procurement professionals who want to expand their knowledge and skills in supplier relationship management. L4M6 Exam covers essential topics such as supplier segmentation, supplier performance management, contract management, and supplier development. Passing the exam demonstrates a candidate's proficiency in supplier relationship management and can enhance their career prospects in procurement and supply chain management.
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What is a key driver for developing a partnership relationship?
A. Well-understood services
B. Low-risk supplies
C. Unrestricted market
D. Fast-changing technology
Answer: D
Explanation:
Comprehensive and Detailed Explanation:
Fast-changing technology necessitates close collaboration between buyers and suppliers to stay ahead of market trends and innovations. Partnerships enable shared development efforts, quicker adaptation, and mutual growth in dynamic technological environments.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 158
Supplier development should be undertaken with all suppliers that a buyer uses. Is this statement TRUE?
A. no- supplier development should only be done with tactical suppliers
B. yes- this will improve efficiencies for the buyer
C. yes- it is important to develop all relationships
D. no- supplier development should only be done with strategic suppliers
Answer: D
Explanation:
Supplier development is time-consuming and resource-intensive so should only be done with strategic suppliers. P.14
NEW QUESTION # 159
Sugar Doughnut Ltd has a jam supplier that they have used successfully for over ten years. They have made investments in the supplier's factory to support them with capital equipment upgrades in return for cost reduction on jam. The two companies also collaborate on bids for large supermarkets when looking to supply doughnuts and work together on quality improvements. No contracts exist between the two companies. Could this relationship be said to be a partnership relationship?
A. No, because they have only worked together for ten years
B. No, because contracts do not exist between the two companies
C. Yes, because they have demonstrated close collaboration on various projects
D. Yes, because they both operate in the food sector
Answer: C
Explanation:
The relationship qualifies as a partnership due to their collaboration, shared investments, and mutual efforts toward improvement, regardless of the absence of formal contracts. Partnerships focus on shared goals, trust, and strategic alignment rather than mere documentation.
NEW QUESTION # 160
A doctor's surgery requires a complex database system to manage all of its patients data, which is highly sensitive. The system also needs to link to other departments of the health service such as physiotherapy and intensive care. The Manager of the surgery is considering outsourcing the management of the database to an IT company. What is the Manager's main motivation for doing this?
A. The supplier is an expert in their field
B. This will free-up internal resources
C. This will result in cost-savings
D. This will result in economies of scale
Answer: A
Explanation:
The reason for outsourcing in this example is that the IT firm is an expert in their field. The requirement is complex and important and this is the reason why it is not being delivered in-house. The other answers given CAN be reasons for out-sourcing, but don't relate to this example. For a full list of reasons a company could use outsourcing see p. 4-5
NEW QUESTION # 161
Within a supplier's terms and conditions, they have a 'mutual termination for convenience' clause, which requires either party to provide 30 days' notice. Before the buyer signed the agreement, a procurement colleague recommended that the buyer should request this be amended to 90 days' notice. Was this amendment the correct thing to do?
A. No, as this will be in breach of statutory contract law requirements
B. Yes, as the buyer will then be responsible for providing additional business to the supplier
C. Yes, as this will allow the buyer enough time to mobilize a new contract
D. No, as this will guarantee a hostile end to the buyer-supplier relationship
Answer: C
Explanation:
Comprehensive and Detailed Explanation:
Extending the notice period in a mutual termination for convenience clause provides the buyer with additional time to:
* Identify and engage alternative suppliers
* Ensure continuity of supply
* Mitigate risks associated with abrupt contract termination
This proactive approach aligns with best practices in contract management, allowing for smoother transitions and minimizing potential disruptions.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 162
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