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[General] L5M6 Trusted Exam Resource | L5M6 Test Question

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【General】 L5M6 Trusted Exam Resource | L5M6 Test Question

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CIPS L5M6 Exam Syllabus Topics:
TopicDetails
Topic 1
  • Understand the Strategic Impact of a Category Management Process: This section evaluates the strategic insight of a Procurement Manager into how category management influences organizational performance. It explores the use of data-driven decision-making and market intelligence to shape sourcing strategies and drive sustainable procurement outcomes.
Topic 2
  • Understand the Concepts, Tools, and Techniques Associated with Managing Expenditure: This section of the exam measures the analytical abilities of a Category Analyst and focuses on expenditure management techniques within category management. It explores how organizations identify, classify, and analyze different types of spend to enhance procurement efficiency and value creation.
Topic 3
  • Understand Approaches that Can Be Used to Develop Category Management Strategies: This section of the exam measures the skills of Procurement Managers and focuses on understanding how category management strategies are formulated within procurement functions. Candidates are expected to differentiate between strategic and conventional sourcing, evaluate how these approaches support long-term supplier relationships, and align them with organizational goals. The section also emphasizes the role of category management in enhancing sourcing efficiency and achieving cost optimization.

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CIPS Category Management Sample Questions (Q19-Q24):NEW QUESTION # 19
Of the following 4 types of industries, which has the lowest barriers to entry?
  • A. Soft drink manufacturing
  • B. Restaurant
  • C. Pharmaceuticals
  • D. Airline
Answer: B
Explanation:
Industries differ in terms of barriers to entry, which are obstacles that make it difficult for new competitors to enter a market. The restaurant industry has relatively low barriers-it requires less upfront capital, fewer regulatory approvals, and allows easier entry compared to industries such as airlines or pharmaceuticals. In contrast, pharmaceuticals involve stringent legal regulations, high R&D costs, and patents, while airlines require massive capital investment and regulatory compliance. The soft drinks industry, while not as capital- intensive, has strong barriers due to brand loyalty, global supply chains, and marketing costs. For procurement, recognising barriers to entry is important because it affects supply market competitiveness. In industries with low barriers like restaurants, buyer power is generally higher because new suppliers can enter easily. In high-barrier industries, suppliers hold greater power due to limited alternatives. This ties directly into Porter's Five Forces, which procurement professionals use to evaluate market attractiveness and develop category strategies.
Reference: CIPS L5M6 Study Guide, p.179

NEW QUESTION # 20
ABC Ltd is a manufacturer of hi-tech IT equipment and is operating in an industry set to grow substantially over the next 10 years. What type of industry could this be described as?
  • A. Bear industry
  • B. Bull industry
  • C. Cow industry
  • D. Dog industry
Answer: B
Explanation:
A bull industry is one that is experiencing sustained growth, driven by technological innovation, consumer demand, or favourable market conditions. The opposite is a bear industry, which is in decline. The terms are borrowed from stock market language but are also used in category management to describe the overall trajectory of an industry. For ABC Ltd, operating in a bull industry means it must prepare for higher demand, increased competition, and potential supplier shortages. This requires a proactive category strategy that focuses on securing long-term supplier relationships, investing in innovation, and managing risks associated with rapid growth. Recognising industry cycles ensures that procurement strategies are forward-looking and aligned with long-term organisational objectives. Misclassifying an industry's trajectory could lead to missed investment opportunities or poor resource allocation.
Reference: CIPS L5M6 Study Guide, p.150

NEW QUESTION # 21
Barb is a Category Manager at XYZ Logistics. She is putting together a Category Plan. Which of the following sections should she include? Select THREE.
  • A. History of the category
  • B. Category objectives
  • C. Supply market analysis
  • D. Category risks
  • E. HR information on the team
Answer: B,C,D
Explanation:
A Category Plan is a strategic document that sets out how a category will be managed to deliver organisational objectives. It typically includes:
* Supply market analysis to understand supplier dynamics, competition, and risks.
* Category objectives, which align with organisational strategy and specify what procurement aims to achieve.
* Category risks, which outline potential threats and mitigation strategies.
HR information and a full history of the category are not required, as the plan is forward-looking, focusing on strategy rather than operational details. While historical context may be summarised in an executive overview, it does not form a full section. A well-structured Category Plan supports better decision-making, stakeholder engagement, and ensures consistent management of spend. It provides a roadmap for how value will be captured, risks managed, and supplier relationships developed. Without it, category management risks becoming reactive and fragmented.
Reference: CIPS L5M6 Study Guide, p.10

NEW QUESTION # 22
Which of the following form part of Cialdini's 7 Principles of Persuasion? Select THREE.
  • A. Liking
  • B. Commitment
  • C. Power
  • D. Social proof
  • E. Morality
Answer: A,B,D
Explanation:
Cialdini's 7 Principles of Persuasion are key behavioural insights relevant to procurement negotiations and stakeholder management. They are:
* Reciprocity
* Commitment/consistency
* Social proof/consent
* Authority
* Liking
* Scarcity
* Unity
Options social proof, commitment, and liking are directly part of this framework. These principles are used to influence supplier behaviour, build stakeholder alignment, and negotiate effectively. For example, demonstrating that other organisations have adopted a strategy (social proof) can increase acceptance, while establishing rapport (liking) improves cooperation. Procurement professionals who understand these principles can navigate complex stakeholder environments more effectively.
Reference: CIPS L5M6 Study Guide, p.66

NEW QUESTION # 23
Peak Pricing is also known as which other type of pricing model?
  • A. Price skimming
  • B. Limit pricing
  • C. Dynamic pricing
  • D. Penetration pricing
Answer: C
Explanation:
Peak pricing is another term for dynamic pricing, where the cost of a product or service changes in response to fluctuations in demand and market conditions. A common example is airline ticket pricing, where fares increase during peak travel periods and drop during off-peak times.
Dynamic pricing relies on market data, technology, and sometimes artificial intelligence to adjust prices in real-time. It maximises revenue by capturing higher margins during periods of strong demand while stimulating sales when demand weakens.
Other options are different strategies:
* Penetration pricing involves initially low prices to gain market entry.
* Limit pricing aims to deter new entrants by setting prices low enough to discourage competition.
* Price skimming involves launching at a high price, then gradually lowering it as demand declines.
In category management, understanding pricing models like dynamic pricing helps procurement anticipate supplier pricing strategies and develop negotiation tactics.
[Ref: CIPS L5M6 Study Guide, pp.180-182 - Pricing models and procurement]

NEW QUESTION # 24
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