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[General] Valid L5M6 Exam Prep - L5M6 Latest Material

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【General】 Valid L5M6 Exam Prep - L5M6 Latest Material

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

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CIPS Category Management Sample Questions (Q89-Q94):NEW QUESTION # 89
Category Strategy Development is composed of 4 key stages. Which of the following is the correct order?
  • A. Develop progress tracking plan, define resources needed, roadshow, create strategic plan
  • B. Create strategic plan, develop progress tracking plan, define resources needed, roadshow
  • C. Roadshow, create strategic plan, define resources needed, develop progress tracking plan
  • D. Develop progress tracking plan, define resources needed, create strategic plan, roadshow
Answer: B
Explanation:
The correct sequence of Category Strategy Development is:
* Create the strategic plan - outlining objectives, tactics, and desired outcomes.
* Develop a progress tracking plan - defining performance measures and milestones.
* Define resources needed - identifying staff, skills, and financial support required.
* Conduct a roadshow - presenting the strategy to stakeholders and gaining buy-in.
This order ensures strategies are clearly defined before resources are committed and that tracking mechanisms are in place to measure success. The roadshow is critical to gain organisational support and alignment, ensuring all stakeholders understand the plan and contribute to its implementation. Mis-sequencing these steps can result in wasted resources, poor engagement, or ineffective execution. Category managers must follow this structured approach to maintain accountability, transparency, and long-term success in strategy implementation.
Reference: CIPS L5M6 Study Guide, p.12

NEW QUESTION # 90
Sarah is a Category Manager at a shoe manufacturer. She works with a key supplier of raw materials [leather and rubber] and is using a cost-out approach. Which type of relationship is most suited to this approach?
  • A. Closer tactical
  • B. Strategic alliance
  • C. Arm's length
  • D. Transactional
Answer: B
Explanation:
The most appropriate relationship type is a Strategic Alliance. The Cost-Out approach involves working closely with suppliers at the design and pre-production stages to eliminate unnecessary costs before they arise.
This requires high levels of trust, transparency, and collaboration.
A strategic alliance provides the framework for this partnership, allowing both buyer and supplier to share information, align objectives, and jointly innovate to reduce costs and increase value. For example, suppliers may suggest alternative materials or design modifications that lower costs without compromising quality.
By contrast:
* Arm's length and transactional relationships are too shallow to support cost-out collaboration.
* Closer tactical relationships allow more interaction but lack the depth of trust and shared strategy found in alliances.
Strategic alliances are therefore essential where the buyer needs suppliers to contribute their expertise, innovation, and commitment to achieving mutual cost savings and long-term value.
[Ref: CIPS L5M6 Study Guide, p.80 - Cost-out strategies and supplier relationships]

NEW QUESTION # 91
What is a 'black swan' event?
  • A. An event that is random or unexpected
  • B. An event that brings about a negative outcome
  • C. A regularly occurring event
  • D. An event that is planned for meticulously in advance
Answer: A
Explanation:
A black swan event is an unexpected and rare occurrence with significant impact. Examples include the 2013 horse meat scandal in the food industry, which was unforeseen and highly disruptive.
Reference: CIPS L5M6 Study Guide, p.104

NEW QUESTION # 92
Which of the following forms of historical data can be used to inform Category Management expenditure?
Select THREE.
  • A. Spend Forecast
  • B. Spend Analytics
  • C. Inflation Rate
  • D. Line Item Details
  • E. Ledger Code
Answer: B,D,E
Explanation:
In category management, reliable decision-making depends heavily on the analysis of historical spend data.
According to CIPS, the key forms of usable historical data include:
* Spend analytics: consolidated information showing how much has been spent, on what items, and with which suppliers.
* Line item details: transaction-level data that provides specific insight into products or services purchased.
* Ledger codes: financial classifications that group expenditure for reporting and control purposes.
These data sets allow category managers to identify trends, supplier dependency, opportunities for consolidation, and potential cost savings. In contrast, inflation rates and spend forecasts are forward-looking metrics, not historical data. Using accurate historical information is critical for preparing budgets, supporting negotiations, and identifying anomalies in expenditure. Organisations that fail to utilise this data often struggle to align their category strategies with financial realities, leading to overspending or missed opportunities.
Reference: CIPS L5M6 Study Guide, p.133

NEW QUESTION # 93
SIC codes are sets of four-digit codes used to classify what?
  • A. Industries
  • B. Countries
  • C. Business departments
  • D. Spend categories
Answer: A
Explanation:
SIC [Standard Industrial Classification] codes are numerical codes used to classify industries. For example, 1000 = mining, 1500 = construction. These codes help in categorising spend, benchmarking, and market analysis but are not intended for memorisation.
[Ref: CIPS L5M6 Study Guide, p.82 - SIC codes]

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