L4M6 VALID EXAM CRAM & L4M6 TRAINING PDF TORRENT & L4M6 ACTUAL TEST DUMPS

L4M6 valid exam cram & L4M6 training pdf torrent & L4M6 actual test dumps

L4M6 valid exam cram & L4M6 training pdf torrent & L4M6 actual test dumps

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CIPS L4M6 Certification Exam is highly valued by employers worldwide and is recognized as a benchmark for excellence in supplier relationship management. By obtaining this certification, procurement professionals can demonstrate their commitment to continuous professional development and their ability to add value to their organization by effectively managing supplier relationships.

CIPS L4M6 exam, also known as CIPS Supplier Relationships, is an important certification that is designed to help procurement professionals manage their supplier relationships efficiently. L4M6 Exam is ideal for professionals working in the procurement industry who want to enhance their knowledge of supplier management and build their skills to deliver better value for their organization. L4M6 exam focuses on building effective supplier relationships that deliver benefits such as cost savings, more efficient processes and higher quality goods and services.

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CIPS Supplier Relationships Sample Questions (Q136-Q141):

NEW QUESTION # 136
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. Innovation developed as part of collaborative projects
  • B. Better payment terms
  • C. Reducing costs
  • D. Reduction of waste

Answer: A,D

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 # 137
Togo Bongos is a manufacturer of percussion instruments, in particular of bongo drums. It requires electricity to run its factories and this is a major factor of cost impact. There are lots of suppliers of electricity in the market and there is no switching costs if Togo Bongos wanted to switch suppliers. What type of supplier is Togo Bongo's electricity supplier?

  • A. strategic
  • B. routine
  • C. leverage
  • D. bottleneck

Answer: C

Explanation:
This is a leverage supplier on the Kraljic Matrix; high cost impact and low risk impact. The diagram on p.20 gives the example of utility services such as electricity as a common leverage supplier. There are lots of questions on Kraljic in the exam - do revise this topic and ensure you understand each of the four quadrants of the matrix


NEW QUESTION # 138
Which of the following are advantages of partnering?

  • A. Supply chain consolidation
  • B. Continual improvement
  • C. Hard to displace
  • D. Prioritization of transactions

Answer: A,B

Explanation:
Partnering supports supply chain consolidation and continual improvement by fostering collaboration and shared objectives. These benefits align with the strategic goals of building resilient and efficient supply chains.


NEW QUESTION # 139
Richie has come up with a new idea for sourcing items for the business but feels that it will have mixed reviews within the team. He thinks that some people will be in favour of the idea, and some will be against it.
He doesn't think the CEO will have a strong opinion either way. In order to decide whether to put a business case together and present his idea to the CEO- what should Richie do?

  • A. Value Engineering Analysis
  • B. Make vs Buy Analysis
  • C. Force Field Analysis
  • D. Cost Analysis

Answer: C

Explanation:
Richie should do a Force Field Analysis - this is explained on p.86 and is an idea of Kurt Lewin - it identifies the driving forces for a project and the restraining forces (basically who will be for it and who will be against it). The textbook doesn't go into much detail on this but there are questions on it in the exam- so have a quick google to familiarise yourself with Kurt Lewin's Force Field Analysis.


NEW QUESTION # 140
A competitive advantage can be gained by doing what?

  • A. Engaging in market research
  • B. Building better relationships with primary stakeholders
  • C. Completing formal tenders for all buying requirements
  • D. Increasing your prices

Answer: B

Explanation:
The correct answer is 'Building better relationships with primary stakeholders'. This is a direct quote from the start of chapter 2.2: 'building better relationships with primary stakeholders such as employees, customers, suppliers and communities could lead to increased shareholder wealth by developing a competitive advantage'. The other three options wouldn't give you a competitive advantage; increasing prices would do the opposite, engaging in market research won't give you a competitive advantage unless you do something with that research such as implement a change to your business, and completing formal tenders for everything would be a waste of time and resources- there's no need to tender for low value, low risk items. See p.80


NEW QUESTION # 141
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