Free Download L4M6 Updated Test Cram & Updated New L4M6 Dumps Sheet: CIPS Supplier Relationships

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To pass the CIPS L4M6 Exam, candidates need to have a comprehensive understanding of the procurement and supply process and the importance of effective supplier relationships. They should also be familiar with various supplier relationship management techniques and tools, including contract negotiation, supplier performance monitoring, and supplier risk management. With this certification, candidates will be able to demonstrate their expertise in managing supplier relationships and enhance their career opportunities.

The CIPS L4M6 Exam is divided into two parts, each containing multiple-choice questions. Part one focuses on the different types of supplier relationships and the strategies that can be used to manage them effectively. Part two examines the various methods of measuring supplier performance, how to identify and mitigate supplier risks, and the importance of communication in supplier relationships.

CIPS Supplier Relationships Sample Questions (Q155-Q160):

NEW QUESTION # 155
'tail spend' is a common category used in procurement and describes a category of items. What characteristics do theses items have?

A. High value, high volume
B. High value, low volume
C. Low value, low volume
D. Low value, high volume

Answer: D

Explanation:
Tail spend items are low value, high volume. P. 132

NEW QUESTION # 156
Red Manufacturing work with around 40 different suppliers. One of these suppliers is Blue Business. Red Manufacturing order regularly from Blue Business, and have never had any issues with their performance.
The materials Blue Business supply are of low value and there are several other suppliers of these materials in the market. What type of relationship should Red Manufacturing seek to have with Blue Manufacturing?

A. partnership
B. single-source
C. adversarial
D. arms-length

Answer: D

Explanation:
The correct answer is 'arms length'. This is a tactical purchase (as it is low value) and keeping the supplier at arms-length means that Red Manufacturing could possibly exploit them to reduce their prices (think back to the Kraljic matrix and where Blue Business would likely fall). A Partnership or Single- Source relationship requires investment into the relationship, and as the products are low value and Red Manufacturing have a lot of other suppliers, they should not be investing time in developing that relationship with Blue Business. An adversarial relationship wouldn't be advantageous as it may lower the performance of the supplier. See the relationship spectrum on p.5 - this is a hot topic for the exam

NEW QUESTION # 157
Andrew runs a factory that makes cakes. Vanilla Extract is a vital ingredient in Andrew's cakes and this is a monopolistic market. Andrew has noticed recently that the quality of the supplier's product has reduced, and this has led to several complaints from customers. Andrew is considering entering into a Partnership with this supplier as he believes this will help increase the supplier's performance. Is this the correct thing to do?

A. No- Andrew should use an alternative supplier
B. No- Andrew should outsource the vanilla extract.
C. Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer
D. Yes- partnership sourcing will improve sales figures

Answer: C

Explanation:
The correct answer is 'Yes- partnership sourcing can improve performance which will ultimately satisfy the end customer'. The important thing to note in this Question: is the word 'monopolistic'. This means that there are no alternative suppliers- so the 'no' options are wrong- there are no alternative suppliers and no opportunity to outsource. The other answer is incorrect as sales figures isn't Andrew's concern - it's the complaints and quality of the product. Improving performance to satisfy end customers is therefore his main driver for considering a Partnership. See p. 127 for more information on Drivers of Partnership Sourcing. This comes up a lot in the exam

NEW QUESTION # 158
A comprehensive approach to managing the termination of a contractual relationship would include ...

A. Giving qualitative feedback only
B. Setting remedies and compensation for contractual breaches
C. Setting aside the value of existing work done by both parties
D. Attacking the personalities, not the problem

Answer: B

Explanation:
Effective termination includes remedies and compensation to address any contractual breaches, ensuring fairness and compliance with legal and ethical obligations.

NEW QUESTION # 159
What is value mapping?

A. Analysing the costs that go into making a product
B. Make vs Buy decision
C. Creating value through the elimination of waste and operational inefficiencies
D. Segmenting suppliers based on the value they bring to the company

Answer: C

Explanation:
The definition of value mapping is given on p.69 this is; 'a process in which value is created through the elimination of waste and operational inefficiencies'. It ties into JIT / Lean.

NEW QUESTION # 160
......

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Free Download L4M6 Updated Test Cram & Updated New L4M6 Dumps Sheet: CIPS Supplier Relationships

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CIPS Supplier Relationships Sample Questions (Q155-Q160):

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