2023 New Training Course L4M6 Tutorial Preparation Guide [Q37-Q61] – IT Certification Exam Questions & Answers

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2023 New Training Course L4M6 Tutorial Preparation Guide

Dumps of L4M6 Cover all the requirements of the Real Exam

The CIPS L4M6 exam is an internationally recognized qualification that is highly regarded by employers in the procurement and supply chain industry. The qualification is suitable for procurement professionals who are looking to advance their careers and take on more senior roles within their organizations. The CIPS L4M6 exam is also an excellent choice for individuals who are looking to specialize in supplier relationship management and develop their expertise in this area.

Passing the CIPS L4M6 exam is essential for any procurement professional who wants to advance their career. It demonstrates to employers and clients that the candidate has the knowledge and skills necessary to manage supplier relationships successfully. It also provides a solid foundation for further professional development in the procurement field.

The CIPS L4M6 exam covers a wide range of topics related to supplier relationships, including understanding the importance of developing and maintaining effective supplier relationships, identifying key supplier risks and opportunities, and implementing strategies to improve supplier performance. The exam also explores the role of procurement professionals in managing supplier relationships, including effective communication, negotiation, and conflict resolution.

NO.37 In the public sector, there are many sources of information that a buyer can use to identify a suitable supplier. Which of the following could be used? Select THREE

Intranet

Tradeshows

OJEU

Internal stakeholders’ knowledge

Procurement Platforms

NO.38 Which of the following is not a stage in the relationship life-cycle?

on-boarding

qualification

performance management

design the specification

NO.39 Which of the following would not affect rivalry in a marketplace? Select TWO.

industry growth or decline

exit barriers

switching costs

supply chain disruption

legislative changes

NO.40 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?

Equality

Environment

Equity

Ethics

NO.41 In a partnership who is responsible for decision making?

The project steering committee

Both the supplier and the buyer

The buyer

The supplier

NO.42 The procurement department is sourcing new uniforms for its housekeeping team. Although the housekeeping team in itself doesn’t hold a lot of power within the business, they have a high interest in the activity as it will be them who is wearing the items. When designing the specification, how should the procurement department manage the housekeeping team?

Keep them satisfied- they will be wearing the uniform so need to be happy with it

Manage them closely- they’re key players in this procurement activity

Keep them informed- it’s important the housekeeping team know what’s going on at each stage of the procurement

Minimal effort is required as they do not hold a lot of power in the business.

NO.43 Which of the following relationship types require the most investment from the buyer?

partnership

strategic alliance

single source

adversarial

NO.44 In a monopoly market, which of the following statements is true?

bargaining power of suppliers is strong

bargaining power of buyers is strong

There is strong rivalry

There is a threat of new entrants

NO.45 A manufacturing company which produces showers struggles to get hold of a certain part called a mixer valve. It is impossible to make the showers without the mixer-valve and there is only one supplier in the market that produces them. The good news is they aren’t very expensive to buy. What type of supplier is the supplier of mixer valves?

leverage

strategic

routine

bottleneck

NO.46 Jenny is a procurement manager who works in the public sector. She has been charged with organising a tender to source new Xray machines for a hospital and to ensure that they receive ‘value for money’. Which of the following should Jenny consider when drafting her ITT?

Price only

Equity

Whole life costs

Availability

NO.47 Which of the following are characteristics that differentiate between a partnership relationship and traditional contracting relationships? Select THREE.

Lower costs

No tender process

Early supplier involvement

Supplier KPIs

No defined end period

NO.48 Early Supplier Involvement can be described as a collaborative relationship between a buyer and a supplier to develop a new project. Handfield’s model describes four different levels of supplier involvement ranging from none to ‘black box’ (which is when the design is primarily driven by the supplier. What other level features on this model?

Blue Box – when the buyer creates the product without input from the supplier

Red Box- when the supplier provides legal advice to the buyer on areas such as copywrite

White Box – when there is informal integration and the buyer consults with a supplier on a design

Grey Box – when the involvement is buyer driven

NO.49 Which of the following macro-environmental factors can affect supply chains?

social, economic and cost

environmental, ethical and cost

political, economic and social

environmental, ergonomic and social

NO.50 Agile Cars Ltd is creating a ‘lean’ business model which involves receiving deliveries of components only when they are required. Which of the following ‘wastes’ is being removed from the business?

Transportation

Defects

Over-production

Inventory

NO.51 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.

Better payment terms

Reduction of waste

Innovation developed as part of collaborative projects

Reducing costs

NO.52 Gabriel is a procurement manager who wishes to explore a new avenue to procure products for his company. His manager has told him that he should invite internal stakeholders to a meeting to get their feedback. Who should Gabriel invite? Select THREE.

end-users

legal department

customers

suppliers

employees

NO.53 Phone Maker Incorporated is a manufacturer of mobile phones. It is considering investing in a partnership with its supplier of batteries and circuit boards as it wishes to produce new models of its phone more regularly. What is the main driver for Phone Maker Incorporated?

Cheaper costs

Changes in the marketplace

Better quality products

Reduced product life-cycles

NO.54 Partnership relationships are long-term relationships without a defined end period. Is this statement TRUE?

No- partnerships should have end dates so both parties have a way out if things don’t work out

No- partnerships have end dates as they are contractual relationships

Yes-partnerships do not have end dates because they involve significant investment

Yes- partnerships do not have end dates because there is never a contract involved

NO.55 When developing a supplier partnership, a buyer can take either a strategic or reactive approach. What would be a reason for a reactive approach?

You discover that the supplier has a high profit margin

The buyer wishes to create a new product and requires input from a supplier

Sudden changes in the marketplace

It will allow for consolidation in the supply chain

NO.56 Which of the following are elements of a business that can develop a company’s competitive advantage? Select THREE.

cost focus

cost leadership

human resource management

organisation culture

natural resources

NO.57 What is collaborative inertia?

the concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts

A situation when the apparent output from collaboration is considerably less than expected

When a partnership is unable to create new ideas

Where a third party is invited to join a partnership.

NO.58 According to Mendelow, there are four ways stakeholders can be managed, depending on the amount of power they have, and how interested they are in your project. What are these four categories?

Keep satisfied, keep informed, minimal effort, no effort

Manage closely, manage loosely, keep satisfied, keep informed

Minimal effort, manage closely, keep informed, keep satisfied

Keep informed, keep happy, keep satisfied, keep notified

NO.59 Grey Stone Memorial Hospital is a private medical facility which has an idea for a vaccine to a deadly disease, but does not have the capacity to make the vaccine itself. It is considering partnering with a well-known pharmaceutical company in order to bring the vaccine to market. What is the biggest risk to Grey Stone?

Intellectual Property Rights

Increased Costs

Low quality product

Uninformed stakeholders

NO.60 Lion Manufacturing is about to enter into a partnership with Penguin Logistics, who will provide delivery to and from Lion Manufacturing’s factories and warehouses. In this relationship, what type of negotiation strategy should Lion manufacturing use?

win: win

win: lose with the supplier winning

lose: lose

win: lose with the buyer winning

NO.61 Which of the following is not a type of tender process used in the Public Sector?

Restricted

Competitive Procedure with Negotiation

Competitive Dialogue

Unrestricted