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[General] CIPS L4M6 Latest Exam Notes - Latest L4M6 Learning Material

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【General】 CIPS L4M6 Latest Exam Notes - Latest L4M6 Learning Material

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CIPS L4M6 exam is a challenging and comprehensive assessment of the candidate's knowledge and skills in managing supplier relationships. Successfully passing L4M6 exam demonstrates the candidate's ability to effectively manage supplier relationships, which is a critical skill for any procurement professional. L4M6 exam is recognized globally and is highly valued by employers in the procurement and supply chain industry. Candidates who pass the exam will be awarded the CIPS Level 4 Diploma in Procurement and Supply, which is a valuable qualification that can help to advance their career in procurement.
CIPS L4M6 certification exam is a globally recognized certification exam that is designed to test and validate the skills and knowledge of procurement professionals in the area of supplier relationships. L4M6 Exam is designed to help procurement professionals understand how to build and maintain strong relationships with suppliers to ensure that they are able to deliver high-quality goods and services on time and within budget.
CIPS L4M6 Certification Exam is aimed at procurement and supply chain professionals who are involved in supplier selection, negotiation, and management. L4M6 exam covers topics such as supplier evaluation, performance management, risk management, and contract negotiation. CIPS Supplier Relationships certification also focuses on the ethical and sustainable management of supplier relationships.
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CIPS Supplier Relationships Sample Questions (Q163-Q168):NEW QUESTION # 163
How would a buyer measure value for money from a relationship with a new supplier for goods?
  • A. Audit of how suppliers promise
  • B. Lowest possible cost
  • C. Quality and volume of goods
  • D. Balance of quality and cost
Answer: D
Explanation:
Value for money is achieved through a balance of quality and cost, ensuring that the goods meet performance requirements while being cost-effective, as per procurement best practices.

NEW QUESTION # 164
Which of the following relationship types would you consider using for a Main Contractor on a building construction project, who will be responsible for co-ordinating the activities of other suppliers?
  • A. closer tactical
  • B. transactional
  • C. partnership
  • D. co-destiny
Answer: A
Explanation:
in tiered supply chains, a closer-tactical relationship could be used between a buyer and a supplier who will be responsible for co-ordinating the activities of other suppliers (p.8 of the textbook).

NEW QUESTION # 165
A competitive advantage can be gained by doing what?
  • A. Engaging in market research
  • B. Increasing your prices
  • C. Building better relationships with primary stakeholders
  • D. Completing formal tenders for all buying requirements
Answer: C
Explanation:
The correct answer is 'Building better relationships with primary stakeholders'. This is a direct quote from the start of chapter 2.2: 'building better relationships with primary stakeholders such as employees, customers, suppliers and communities could lead to increased shareholder wealth by developing a competitive advantage'. The other three options wouldn't give you a competitive advantage; increasing prices would do the opposite, engaging in market research won't give you a competitive advantage unless you do something with that research such as implement a change to your business, and completing formal tenders for everything would be a waste of time and resources- there's no need to tender for low value, low risk items. See p.80

NEW QUESTION # 166
Varying levels of commitment is one reason why many partnerships fail. Why is this?
  • A. Sufficient time and resources are put in
  • B. Less profit is made.
  • C. It can lead to a lack of trust
  • D. One party doesn't fulfil their KPIs
Answer: C
Explanation:
The correct answer is 'It can lead to a lack of trust' - this is a quote from p.162. The other answers are all incorrect; in a partnership KPIs are joint between the parties- so there wouldn't be a situation where one party doesn't fulfil their KPIs. Commitment doesn't necessarily have a direct correlation with profit so that answer is incorrect. 'Sufficient time and resources are put in' is a positive thing, so can't be a reason who a partnership fails.

NEW QUESTION # 167
Value for money is often described at the 'three Es'; economy, efficiency and effectiveness. However some people consider a 4th E which refers to the public sector. What is the fourth E?
  • A. Ethics
  • B. Equity
  • C. Equality
  • D. Environment
Answer: B
Explanation:
Equity is the fourth E- this means the extent to which the service is available. See p.65 for details on the 4 Es

NEW QUESTION # 168
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