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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.
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CIPS L4M6 exam is a crucial step for procurement professionals seeking to upskill and advance their careers. L4M6 exam covers the topic of supplier relationships and their importance in procurement. L4M6 exam is designed to test the candidate's knowledge of how to establish, manage and develop supplier relationships that will benefit their organization.
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.
NEW QUESTION # 159
Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
Answer: B
Explanation:
The correct answer is 'They may gain an increased volume of business'. The other options are just not true. See p.130 for advantages and disadvantages of partnerships from both the buyer and supplier's perspective. This is a hot topic for the exam.
NEW QUESTION # 160
A partnership between a software development company and a software supplier has recently been created. In order for the partnership to be successful, what is a critical action to take in the early stages of their relationship?
Answer: C
Explanation:
Defining standards ensures clear expectations and provides a foundation for accountability and alignment, which are critical for the success of any partnership.
NEW QUESTION # 161
Which of the following macro-environmental factors can affect supply chains?
Answer: C
Explanation:
STEEPLE is what is used to analyse the macro-environment; the factors are; social, technological, economic, environmental, political, legislative and ethical. Details of this can be found on p.43-44. Note in the exam they won't necessarily be given in this order.
NEW QUESTION # 162
A software developer is seeking to develop a new fitness trends app. They are looking to create a contract with a fitness expert to give advice on the type of changing fitness trends. What agreement should the app developer aim to achieve?
Answer: A
Explanation:
A partnering relationship fosters collaboration and ensures the fitness expert is actively involved in developing insights, which is crucial for innovation and mutual success in a knowledge-sharing environment.
NEW QUESTION # 163
Under what circumstances should a competitive tender not be completed? Select TWO.
Answer: B,C
Explanation:
Note the word 'NOT' in the question. In order for a competitive tender to be successful, there should be a clear specification in place (i.e. you need to know what you want, in order for suppliers to bid for it).
Competitive tendering should also only be used for high value purchases; it's time consuming to do, so you wouldn't do it for low value items such as pens for the office. Therefore the correct answer to this question is
'items are of low value' and 'there isn't a clear specification'. There's a useful table on p.73 of when you would and wouldn't use a competitive tender.
NEW QUESTION # 164
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