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CIPS L4M6 Certification Exam is an excellent opportunity for procurement and supply chain professionals to enhance their knowledge and skills in managing supplier relationships. It is a globally recognized certification that can boost their career prospects and help them stand out in a competitive job market. By passing L4M6 exam, candidates can demonstrate their expertise in supplier relationship management and their commitment to professional development.
CIPS L4M6 Exam is a three-hour written exam, which consists of six questions. L4M6 exam is computer-based and is available in multiple languages. The questions are designed to test the candidate's understanding of the key concepts covered in the syllabus and their ability to apply this knowledge to real-world scenarios. Candidates must achieve a minimum of 50% to pass the exam.
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NEW QUESTION # 191
Which of the following are examples of internal stakeholders of a manufacturing repair organisation? Select TWO that apply.
Answer: A,E
Explanation:
Internal stakeholders are individuals or groups within an organization who are directly involved in its operations and decision-making processes. The finance director plays a crucial role in budgeting and financial planning, while maintenance engineers are essential for ensuring equipment functionality and efficiency. Both are integral to the organization's internal operations, as outlined in the CIPS L4M6 study materials.
NEW QUESTION # 192
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.
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 # 193
Which of the following are the stages of team development?
Answer: B
Explanation:
The stages of team development as defined by Tuckman include forming, storming, norming, and performing.
These stages reflect how teams evolve and mature through collaboration and problem-solving.
NEW QUESTION # 194
A restricted market is a market where there are only a small number of capable and competent suppliers.
Which of the following is not a reason for a marketplace to be restricted?
Answer: A
Explanation:
The correct answer is 'The product is easy to source elsewhere'. The other three are given as reasons a marketplace might be restricted on p.138. Other reasons also include; brand loyalty, difficult access to distribution channels, and companies colluding.
NEW QUESTION # 195
The Public Sector in the UK is unable to enter into formal partnership relationships with any supplier. Is this statement TRUE?
Answer: C
Explanation:
The correct answer is 'Yes- the Public Sector is regulated by EU procurement regulations which prohibits this'. This is stated on p.122. Please note that this study guide and exam were written before Brexit. Once Brexit happens, nobody knows what will happen with this.
NEW QUESTION # 196
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