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The Lead2PassExam is the top-rated website that offers real CIPS Supplier Relationships L4M6 exam dumps to prepare for the CIPS L4M6 test. Lead2PassExam has made these latest L4M6 practice test questions with the cooperation of the world's highly experienced professionals. Countless L4M6 Exam candidates have used these latest L4M6 exam dumps to prepare for the CIPS L4M6 certification exam and they all got success with brilliant results.

The CIPS L4M6 certification exam covers a broad range of topics related to supplier relationships, including supplier evaluation and selection, supplier performance management, contract management, and supplier development. The exam is designed to assess the candidate's ability to manage supplier relationships in a way that maximizes value for the organization. It is a comprehensive certification that equips professionals with the skills and knowledge they need to manage supplier relationships effectively.

CIPS Supplier Relationships Sample Questions (Q47-Q52):

NEW QUESTION # 47
Francisco has entered a partnership with Pedro, who is a key supplier, and wants to ensure that the partnership achieves all of Francisco's goals. As well as qualitative and quantitative KPIs, what other measures could Francisco take to ensure the partnership is a success?

  • A. Do frequent appraisals on the supplier
  • B. Ensure there is a damages clause in the contract
  • C. Conduct regular audits
  • D. Threaten the supplier with termination if he underperforms

Answer: C

Explanation:
The correct answer is 'Conduct regular audits'. This is explained on p.153. You wouldn't do an appraisal on a supplier in a partnership relationship as both parties are equal. Threatening a partner isn't good for the relationship and a damages clause would be used in a contractual relationship rather than a partnership.


NEW QUESTION # 48
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. Yes- IPR is a valid concern for both parties but will survive the termination of the agreement
  • B. No- a contract is not necessary if it is a partnership.
  • C. Yes- IPR should always remain with the buyer- this will protect those rights
  • D. No- a separate legal agreement should be created to cover IPR

Answer: A

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 # 49
The Pareto Principle is sometimes also known as what?

  • A. Cost Engineering
  • B. Five Forces
  • C. ABC Analysis
  • D. JIT

Answer: C

Explanation:
Pareto is the 80:20 rule- this can be adapted to talk about supplier relationships, where instead of having 2 categories there are now 3 (A B and C). CIPS use the terms Pareto and ABC interchangeably. See p.16 for further information


NEW QUESTION # 50
Beyond Say is a manufacturer of diamond rings. It sources a lot of different parts to create its products including diamonds, gold, cardboard boxes for the rings to go in, as well as stationary and copier paper for the offices. Although it doesn't buy many diamonds, these represent a large part of Beyond Say's spend. Which category of spend would diamonds represent?

  • A. Option
  • B. It isn't possible to tell
  • C. Option
  • D. Option

Answer: C

Explanation:
This is category 'A' spend in the ABC model - they represent a large value and a small number of purchases / suppliers. See p.17 for more information on the ABC Analysis


NEW QUESTION # 51
A partnership relationship can be described as any relationship between a buyer and supplier where there is a good level of communication and both parties are happy with each other's performance. Is this statement TRUE?

  • A. Yes- partnerships are the only relationship type where both parties are happy with each other's performance
  • B. No- only strategic relationships involve good levels of communication.
  • C. Yes- partnerships are characterised by strong relationships
  • D. No- good levels of communication can exist in other types of relationships

Answer: D

Explanation:
The correct answer is 'No- good levels of communication can exist in other types of relationships'. The study guide makes a point that not all good buyer: supplier relationships are partnerships. In fact 70% on supplier relationships will not be partnerships (according to Lambert who is quoted on p.131)


NEW QUESTION # 52
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