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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.

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The CIPS L4M6 certification exam has grown in popularity in today's modern CIPS era. Success in the L4M6 exam gives aspirants the chance to upskill and remain competitive in the challanging job market. Those who successfully crack the CIPS Supplier Relationships (L4M6) test prove to their employers that they are skilled enough to get well-paying jobs and promotions. Exam4Tests is aware that preparing with invalid CIPS L4M6 Exam Questions wastes money and time.

CIPS L4M6 exam covers a wide range of topics related to supplier relationship management, including supplier selection, evaluation and monitoring, contract management, supplier performance measurement, and supplier development. L4M6 Exam is designed to test the candidate’s understanding of the best practices and techniques for managing supplier relationships and maximizing the value of supplier partnerships.

CIPS Supplier Relationships Sample Questions (Q198-Q203):

NEW QUESTION # 198
Which of the following are elements of a business that can develop a company's competitive advantage?
Select THREE.

A. organisation culture
B. human resource management
C. cost focus
D. natural resources
E. cost leadership

Answer: A,B,D

Explanation:
This is one of those questions you have to read carefully- it asks for 'elements of a business'. Cost focus and cost leadership are ways a company can improve their competitive advantage, but they're not elements of a business. The other three options are. Porter created a list of elements of a business that can help a company's competitive advantage- these can be found on p.33-34

NEW QUESTION # 199
Rachel and Jacky work in the procurement department of Foddy Foods Ltd. They have been told by their CEO to build better relationships with strategic suppliers as this will create value for money for the company. In what ways can value for money be achieved by building strong relationships with suppliers? Select TWO.

A. Reduction of waste
B. Innovation developed as part of collaborative projects
C. Reducing costs
D. Better payment terms

Answer: A,B

Explanation:
Supplier relationships can result in value for money in the reduction of waste and in innovation developed as part of collaborative projects. Remember that in CIPS waste doesn't necessarily mean physical waste (as in stuff you don't want any more). There are 7 types of waste including waiting, inventory, transportation etc. So when you develop a relationship with a supplier, this can reduce waste (e.g. you may be able to get deliveries quicker by integrating your ordering system with the supplier's, or you might reduce transportation by agreeing a Consignment stock). Having a good relationship with a supplier isn't necessarily going to get you a reduction in cost or better payment terms. See p.70 for more details on this- there's a short list of ways in which good supplier relationships can bring value for money to a business.

NEW QUESTION # 200
What is the correct order for the 5 stages of team development?

A. Forming, storming, norming, performing, adjourning
B. Norming, adjourning, storming, performing, forming
C. Forming, storming, performing, adjourning, norming
D. Storming, norming, adjourning, performing, forming

Answer: A

Explanation:
Comprehensive and Detailed Explanation:
Bruce Tuckman's model of team development outlines five stages:
* Forming- Team members get acquainted and establish ground rules.
* Storming- Members begin to communicate their feelings but still view themselves as individuals rather than part of the team.
* Norming- People feel part of the team and realize that they can achieve work if they accept other viewpoints.
* Performing- The team works in an open and trusting atmosphere where flexibility is the key and hierarchy is of little importance.
* Adjourning- The team conducts an assessment of the year and implements a plan for transitioning roles and recognizing members' contributions.
Reference:
CIPS L4M6 Study Guide

NEW QUESTION # 201
Canadian Office Furniture Manufacturing Ltd (COFM) was trying to enter the Australian market, but without any success. The main issue is that the Australian government supports local manufacturers. COFM has successfully bid to acquire an Australian office furniture manufacturer. Which of the following benefits will COFM achieve by the acquisition?
* Accessing the restricted local market
* Removing the government support for local manufacturers
* Decreasing the competition between local manufacturers
* Improving its knowledge of the local market

A. 2 and 3 only
B. 3 and 4 only
C. 1 and 2 only
D. 1 and 4 only

Answer: D

Explanation:
Comprehensive and Detailed Explanation:
By acquiring an Australian office furniture manufacturer, COFM can:
* Access the Restricted Local Market:Acquisition allows COFM to operate as a local entity, thereby overcoming barriers to entry and benefiting from any local government support available to domestic manufacturers.
* Improve Knowledge of the Local Market:The acquired company brings with it an understanding of local customer preferences, regulatory requirements, and market dynamics, which is invaluable for successful operations.
However, the acquisition does not remove government support for other local manufacturers, nor does it necessarily decrease competition.
Reference:
CIPS L4M6 Study Guide

NEW QUESTION # 202
The executive board of a manufacturing company is requesting support from the procurement team because the company needs to improve its levels of profitability. After segmenting the overall spend by value and risk of supply, the senior buyer for the company is planning to undertake a cost modelling activity. This will be undertaken with a cross-organisational team of internal stakeholders and key strategic suppliers. What would be the buyer's initial objective from the cost modelling activity?

A. To understand the supplier's investment plans
B. To understand the supplier's pricing strategy
C. To understand the supplier's financial status
D. To understand the supplier's competitive threats

Answer: B

Explanation:
The primary objective of cost modelling is to dissect and comprehend the components that constitute a supplier's pricing. By understanding the supplier's pricing strategy, the buyer can identify cost drivers, negotiate more effectively, and seek opportunities for cost savings. This approach aligns with the CIPS L4M6 guidelines, emphasizing the importance of transparency and collaboration in supplier relationships.

NEW QUESTION # 203
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