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L4M6 Relevant Exam Dumps | L4M6 Reliable Learning Materials
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CIPS L4M6 Certification Exam is an excellent credential for procurement professionals who are looking to advance their careers in supplier relationship management. It covers a range of topics and tests both theoretical knowledge and practical skills. CIPS Supplier Relationships certification is internationally recognized and highly valued by employers, making it a great way to enhance career opportunities and differentiate oneself from other professionals in the field.
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The CIPS Supplier Relationships (L4M6) exam questions can help you gain the high-in-demand skills and credentials you need to pursue a rewarding career. To do this you just need to pass the CIPS Supplier Relationships (L4M6) certification exam which is not easy to crack. You have to put in some extra effort, and time and prepare thoroughly to pass the CIPS Supplier Relationships (L4M6) exam. For the quick, complete, and comprehensive CIPS Supplier Relationships (L4M6) exam dumps preparation you can get help from top-notch and easy-to-use L4M6 Questions.
CIPS L4M6 exam is a globally recognized certification that demonstrates an individual's expertise in managing supplier relationships. It provides procurement professionals with the necessary skills to develop and maintain strong relationships with suppliers, which can lead to cost savings, improved quality, and increased innovation. CIPS Supplier Relationships certification also demonstrates an individual's commitment to professional development and their desire to enhance their skills and knowledge in procurement and supply chain management. Overall, the CIPS L4M6 Exam is an essential qualification for procurement professionals who want to excel in their careers and make a significant contribution to their organizations.
CIPS Supplier Relationships Sample Questions (Q112-Q117):
NEW QUESTION # 112
A company purchases products from a supplier that falls into the 'strategic' segment of the supply positioning grid. They are drawing up a formal partnership agreement with the supplier. The supplier views the company as core to their business. What would be an important clause to include in the agreement to help make sure the partnership worked in a fully collaborative way?
- A. Liquidated damages
- B. Continuous improvement
- C. Time of the essence
- D. Force majeure
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
In strategic partnerships, including a continuous improvement clause is vital. This clause commits both parties to ongoing efforts to enhance processes, reduce costs, and improve quality over time. Such a commitment ensures that the partnership remains dynamic and responsive to changes, fostering long-term collaboration and mutual benefit.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 113
What is a key driver for developing a partnership relationship?
- A. Fast-changing technology
- B. Low-risk supplies
- C. Unrestricted market
- D. Well-understood services
Answer: A
Explanation:
Comprehensive and Detailed Explanation:
Fast-changing technology necessitates close collaboration between buyers and suppliers to stay ahead of market trends and innovations. Partnerships enable shared development efforts, quicker adaptation, and mutual growth in dynamic technological environments.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 114
In the Purchasing Portfolio Matrix, a leverage product is a product in a market where it is easy to switch suppliers and the quality is standardised. Is this TRUE or FALSE?
- A. True, the product is in a supply market which is of low complexity and the product is of low importance
- B. True, the product is in a supply market which is of low complexity and the product is of high importance
- C. False, the product is in a supply market which is highly complex and the product is of high importance
- D. False, the product is in a supply market which is highly complex and the product is of low importance
Answer: B
Explanation:
Comprehensive and Detailed Explanation:
Leverage products are characterized by:
* High profit impact:They significantly affect the company's bottom line.
* Low supply risk:They are available from multiple suppliers, making it easy to switch if necessary.
These products often have standardized quality, and the competitive supply market allows buyers to negotiate favorable terms.
Reference:
CIPS L4M6 Study Guide
NEW QUESTION # 115
Danny is procuring a new IT software, which he doesn't know much about. He has done a bit of research on the internet but is still unsure how much he can expect to pay. What should be Danny's next step?
- A. Issue an ITT
- B. Issue an OJEU
- C. Issue a RFI
- D. Issue a RFQ
Answer: C
Explanation:
Danny should issue a RFI (Request for Information). His next step would be to find out more about the products available by asking suppliers for information- this will help him put a spec together before he goes out to tender. The other options mean; RFQ - request for quotation- when you ask suppliers to submit a price.
ITT- Invitation to tender - a document you send out to suppliers which details all the information about the tender (this usually involves both price and quality components of assessment). OJEU- Official Journal of the European Union- where tenders for the Public Sector are published. For more info on RFI see p.74
NEW QUESTION # 116
Andrew runs a factory that makes cakes. Vanilla Extract is a vital ingredient in Andrew's cakes and this is a monopolistic market. Andrew has noticed recently that the quality of the supplier's product has reduced, and this has led to several complaints from customers. Andrew is considering entering into a Partnership with this supplier as he believes this will help increase the supplier's performance. Is this the correct thing to do?
- A. Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer
- B. No- Andrew should use an alternative supplier
- C. No- Andrew should outsource the vanilla extract.
- D. Yes- partnership sourcing will improve sales figures
Answer: A
Explanation:
The correct answer is 'Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer'. The important thing to note in this Question: is the word 'monopolistic'. This means that there are no alternative suppliers- so the 'no' options are wrong- there are no alternative suppliers and no opportunity to outsource. The other answer is incorrect as sales figures isn't Andrew's concern - it's the complaints and quality of the product. Improving performance to satisfy end customers is therefore his main driver for considering a Partnership. See p. 127 for more information on Drivers of Partnership Sourcing. This comes up a lot in the exam
NEW QUESTION # 117
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