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CIPS L4M6 exam is an advanced-level qualification that is suitable for procurement professionals who want to expand their knowledge and skills in supplier relationship management. L4M6 exam covers essential topics such as supplier segmentation, supplier performance management, contract management, and supplier development. Passing the exam demonstrates a candidate's proficiency in supplier relationship management and can enhance their career prospects in procurement and supply chain management.
CIPS L4M6 (CIPS Supplier Relationships) Certification Exam is a highly respected qualification that provides procurement professionals with the skills and knowledge needed to manage strategic supplier relationships effectively. L4M6 exam covers a wide range of topics and is suitable for procurement professionals at all levels of experience. By obtaining this certification, procurement professionals can demonstrate their commitment to professional development and enhance their career prospects.
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NEW QUESTION # 72
In a partnership who is responsible for decision making?
Answer: B
Explanation:
The correct answer is both the supplier and the buyer- joint decision making is a key aspect of partnership relationships. A project steering committee decides on priorities, suggests improvements, conducts audits etc.
See p.152
NEW QUESTION # 73
Which of the following are not stages of team development? Select TWO.
Answer: C,E
Explanation:
This question is very, very similar to a real exam question and is a really mean one. The CIPS study guide describes stages of team development as forming, storming, norming and performing. Of those listed in the book only forming is listed above. What the textbook fails to tell you is that some people add on two additional stages to this model which are mourning and adjourning. I strongly recommend doing some further reading on this (it's called the Tuckman Group Development Model) as it comes up a lot in the exam and the study guide doesn't really go into enough detail.
NEW QUESTION # 74
Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
Answer: A
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 # 75
One of the fist stages of designing a Partnership is to come up with joint KPIs. These should be:
Answer: D
Explanation:
The correct answer is Measurable, achievable and time-bound. This is from SMART KPIs on p. 151. Smart stands for specific, measurable, achievable, relevant, time-bound. In the exam they come up in different orders so be careful.
NEW QUESTION # 76
Which of the following options are legitimate reasons for terminating a contract? Select TWO that apply.
Answer: A,E
Explanation:
Legitimate reasons for contract termination under CIPS guidelines include failure to perform duties and serious breaches of contract terms. Ordering errors or changes in stakeholder needs are not valid termination grounds unless explicitly stated in the contract. This protects both parties from unjustified termination risks.
NEW QUESTION # 77
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