Reliable CIPS L4M6 Exam Syllabus, Reliable L4M6 Braindumps Pdf

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CIPS L4M6 certification exam, also known as CIPS Supplier Relationships, is a globally recognized qualification designed for procurement professionals who want to enhance their knowledge and skills in managing supplier relationships. CIPS Supplier Relationships certification provides candidates with the theoretical and practical understanding of effective supplier relationship management, which is crucial for achieving sustainable procurement practices.

CIPS L4M6 Exam is suitable for procurement professionals who want to enhance their skills and knowledge in supplier relationship management. It is recommended for individuals who have completed the CIPS L4M4 exam, as it builds on the concepts covered in that exam. It is also suitable for individuals who are responsible for managing supplier relationships, such as procurement managers and supply chain professionals.

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CIPS Supplier Relationships Sample Questions (Q117-Q122):

NEW QUESTION # 117
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. Equality
B. Equity
C. Environment
D. Ethics

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 # 118
A supplier is working with a buyer who represents a large percentage of his business. Without this particular buyer, the supplier would likely go out of business. There has been a dispute in the last invoice which the buyer is not happy about. What technique should the supplier use when talking to the buyer about this?

A. Accommodating- the supplier should show a large degree of co-cooperativeness as the buyer is important to their survival
B. Competing- the supplier needs to earn more money as they are struggling financially
C. Avoiding- the supplier should avoid talking with the buyer as this may result in conflict
D. Accepting - the supplier should accept that conflict should sometimes occur in buyer: supplier relationships and work hard to avoid them

Answer: A

Explanation:
The correct answer is 'accommodating'. This question is based on the Thomas-Kilmann Conflict model on p.87. This comes up quite a bit in the exam. It is comprised of 5 techniques for dealing with conflict; competing, collaborating, compromising, avoiding and accommodating. In this instance, the supplier should have a high degree of co-cooperativeness and a low degree of assertiveness as the long-term relationship is very important- more important than the outcome of the disputed invoice.

NEW QUESTION # 119
Cigarettes and alcohol are often described as having an 'inelastic price'. What does this mean?

A. The product is subject to high rates of tax
B. Changes in price will greatly affect how much of the item is bought
C. Changes in price will not affect how much of the item is bought
D. The product is subject to age restrictions

Answer: C

Explanation:
A product with an 'inelastic price' means that consumption doesn't really depend on how much it costs. So you could increase the price of alcohol and cigarettes and people would tend to still buy them. A product with an elastic price means that a change in price would have a large affect on the number of people who bought the item. See p.95 for more details on price elasticity.

NEW QUESTION # 120
In an oliogopy market, what would a regulator do?

A. stop the market becoming a monopoly
B. ensure value for money for buyers
C. prevent price fixing and collusion
D. ensure health and safety standards

Answer: C

Explanation:
In an oliogopy, supplier power is strong. Sometimes regulators are required in the market to prevent the group of suppliers conspiring together to artificially increase prices. See p.40 for more information on Oligopy markets.

NEW QUESTION # 121
A local government procurement team is undertaking a full review of their current internal working processes.
The team of buyers currently have a partnership-style relationship with their routine suppliers. Is this the best relationship style to use?

A. No, as there are many suppliers available
B. Yes, as they present a great deal of risk to the organization
C. Yes, as these are low-value items
D. No, as these are critical items to the buying organization

Answer: A

Explanation:
Routine suppliers typically supply low-value, low-risk items. Maintaining partnerships in such cases is inefficient since alternative suppliers are readily available. Adopting a transactional or adversarial relationship would be more appropriate.

NEW QUESTION # 122
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