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New L4M6 Test Tips - Pass4sure L4M6 Exam Prep

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CIPS L4M6 certification exam comprises of 60 multiple-choice questions that must be completed within two hours. L4M6 exam is conducted online and is available in English. CIPS Supplier Relationships certification is designed to test the candidate's knowledge and understanding of supplier relationship management, including topics such as supplier segmentation, supplier performance management, and supplier development. It also assesses the candidate's ability to identify and mitigate risks associated with supplier relationships.

CIPS L4M6 certification exam is suitable for procurement and supply chain professionals who are responsible for managing supplier relationships at different levels of the organization. This includes procurement managers, category managers, supply chain managers, and contract managers, among others. L4M6 Exam is also suitable for those who are interested in pursuing a career in procurement and supply chain management.

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.

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CIPS Supplier Relationships Sample Questions (Q178-Q183):

NEW QUESTION # 178
Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.

A. competition is at its highest level possible
B. suppliers are selling differentiated products
C. there are no barriers to entry
D. competition is not strong

Answer: A,C

Explanation:
In a 'perfect competition' there are no barriers to entry or exit, and competition is at its highest possible level. For more information on different types of market see p.40

NEW QUESTION # 179
A buyer has a requirement to purchase 1,000 widgets for a manufacturing company. The widgets are critical for the next stage of the manufacturing process. What would be the key selection criterion for this buyer?

A. Ability to produce low-cost widgets
B. Ability to deliver by the deadline
C. Ability to meet ISO standards
D. Ability to add value to the order

Answer: B

Explanation:
When procuring critical components essential for the continuity of manufacturing processes, timely delivery becomes paramount. Delays can halt production lines, leading to significant financial losses.Therefore, the supplier's ability to meet delivery deadlines is the key selection criterion, as emphasized in the CIPS L4M6 study guide.

NEW QUESTION # 180
Which of the following would you use to qualify new suppliers? Select THREE.

A. commitment
B. cost
C. call
D. clean
E. collection

Answer: A,B,D

Explanation:
This is based on a real exam question- it's looking to see if you can remember Carter's 10 Cs. These are; cash, cost, consistency, culture, clean, communication, competency, capacity, commitment and control. (p.12 in the text book)

NEW QUESTION # 181
Intellectual Property Rights (IPR) include items such as copywrite and trademarks. A buyer is considering entering into a partnership with their supplier to create a new product which will be released in two years' time. Should IPR be included into a contract between partners?

A. No- a contract is not necessary if it is a partnership.
B. Yes- IPR should always remain with the buyer- this will protect those rights
C. Yes- IPR is a valid concern for both parties but will survive the termination of the agreement
D. No- a separate legal agreement should be created to cover IPR

Answer: C

Explanation:
The correct answer is 'Yes- IPR is a valid concern for both parties but will survive the termination of the agreement' (p.112). See the section on 'Legal considerations' in chapter 2.4

NEW QUESTION # 182
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. Yes, as these are low-value items
B. No, as these are critical items to the buying organization
C. No, as there are many suppliers available
D. Yes, as they present a great deal of risk to the organization

Answer: C

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 # 183
......

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