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[General] L5M6 Reliable Exam Questions, Practice Test L5M6 Fee

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【General】 L5M6 Reliable Exam Questions, Practice Test L5M6 Fee

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CIPS L5M6 Exam Syllabus Topics:
TopicDetails
Topic 1
  • 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.
Topic 2
  • 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 3
  • 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.

CIPS Category Management Sample Questions (Q55-Q60):NEW QUESTION # 55
Analytics data can be used in Category Management forecasting. Which of the following would be a form of Analytics Data?
  • A. Data from the past e.g. historical trends
  • B. Known data e.g. manufacturing capacity
  • C. Data models and predictions e.g. trends for the future
  • D. Expertise data e.g. estimated lead times
Answer: C
Explanation:
Analytics data refers to data models and predictions, often generated through statistical methods or advanced software, that provide insights into future trends. Unlike historical data, which looks at past performance, or known data, which describes current realities, analytics projects what is likely to happen in the future. For example, predictive analytics can identify demand spikes based on past seasonal behaviour, consumer sentiment, or economic indicators. In category management, such predictive models are invaluable for anticipating supply shortages, managing risks, and planning procurement strategies. Analytics data allows procurement professionals to move from reactive decision-making to proactive and strategic management.
The integration of analytics into forecasting also supports better negotiation with suppliers, as buyers can demonstrate awareness of future trends and cost drivers. In today's fast-changing markets, reliance solely on historical data is insufficient-analytics data gives procurement a competitive edge.
Reference: CIPS L5M6 Study Guide, p.140

NEW QUESTION # 56
A new supplier to a marketplace is using break-even pricing to determine the price at which to sell a product.
Which of the following does this type of pricing structure not consider? Select TWO.
  • A. Competitors' pricing
  • B. Fixed costs
  • C. Variable costs
  • D. Price elasticity
Answer: A,D
Explanation:
Break-even pricing is a method where a supplier sets a price to cover fixed and variable costs, ensuring they do not operate at a loss. However, this approach does not account for price elasticity (how sensitive demand is to price changes) or competitors' pricing strategies. This can be a weakness because while break- even ensures financial sustainability, it may not ensure competitiveness or profitability in dynamic markets.
For procurement professionals, understanding suppliers' pricing models helps in negotiation and cost management. If a supplier relies only on break-even pricing, they may either set prices too low (risking financial instability) or too high (losing market share). Category managers must consider broader market forces, cost drivers, and customer behaviours to anticipate supplier pricing strategies. By understanding these limitations, buyers can push for more favourable terms and ensure that suppliers align with market expectations.
Reference: CIPS L5M6 Study Guide, p.180

NEW QUESTION # 57
Which of the following approaches to cost is the least transparent?
  • A. Price management
  • B. Cost out
  • C. Cost down
  • D. Price acceptance
Answer: D
Explanation:
Price acceptance is the least transparent approach because the buyer simply accepts the supplier's quoted price without investigating its basis or fairness. There is no visibility into the supplier's cost structure, margins, or pricing methodology.
By contrast:
* Price management involves actively managing pricing discussions.
* Cost down involves collaborative efforts to reduce costs after production.
* Cost out involves eliminating costs before production through design.
[Ref: CIPS L5M6 Study Guide, p.81 - Costing methods]

NEW QUESTION # 58
Which of the following can be used to group categories for Category Management within an organisation?
  • A. Kraljic Matrix
  • B. UNSPC
  • C. WTO Guidelines
  • D. ISO9001
Answer: B
Explanation:
The United Nations Standard Products and Services Code (UNSPC) provides a universal taxonomy for classifying goods and services. Some organisations adopt UNSPC as a standard way of grouping categories for procurement, while others create their own frameworks tailored to business needs. Unlike tools such as the Kraljic Matrix, which is used to assess risk and value, UNSPC is a classification system designed for spend categorisation and reporting. Using standardised codes ensures better data consistency, benchmarking, and spend visibility across organisations, especially in global supply chains. By adopting UNSPC, procurement teams can reduce ambiguity in spend analysis and ensure categories are aligned with recognised frameworks.
Reference: CIPS L5M6 Study Guide, p.3

NEW QUESTION # 59
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. Dog industry
  • B. Bull industry
  • C. Cow industry
  • D. Bear 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 # 60
......
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