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CIPS L4M6 exam is an advanced-level exam that requires candidates to have a sound understanding of procurement and supply chain management concepts. Candidates need to possess knowledge of procurement processes, supplier selection, and contract management. They also need to have experience working in a procurement or supply chain management role. L4M6 Exam is ideal for procurement professionals who want to enhance their skills and knowledge in supplier relationship management.

CIPS Supplier Relationships Sample Questions (Q97-Q102):

NEW QUESTION # 97
Danny is procuring a new IT software, which he doesn't know much about. He has done a bit of research on the internet but is still unsure how much he can expect to pay. What should be Danny's next step?

A. Issue a RFI
B. Issue a RFQ
C. Issue an ITT
D. Issue an OJEU

Answer: A

Explanation:
Danny should issue a RFI (Request for Information). His next step would be to find out more about the products available by asking suppliers for information- this will help him put a spec together before he goes out to tender. The other options mean; RFQ - request for quotation- when you ask suppliers to submit a price. ITT- Invitation to tender - a document you send out to suppliers which details all the information about the tender (this usually involves both price and quality components of assessment). OJEU- Official Journal of the European Union- where tenders for the Public Sector are published. For more info on RFI see p.74

NEW QUESTION # 98
Which of the following are possible drivers for partnership sourcing? Select THREE.

A. Working together will create synergies
B. The need to improve performance to satisfy the end customer
C. The marketplace has become more volatile
D. The protection of intellectual property rights

Answer: A,B,C

Explanation:
To increase production costs and lead-times
Explanation:
The correct answers are; The marketplace has become more volatile, Working together will create synergies and The need to improve performance to satisfy the end customer. Further Drivers of Partnership Sourcing can be found on p.127. The other answers are incorrect as entering a partnership won't protect intellectual property rights- in fact that's one of the big risks of entering into a partnership. Partnerships won't increase costs and lead-times, they're likely to decrease them.

NEW QUESTION # 99
Lee is a procurement manager at Real Pirates Ltd and he has a contract with Peg Leg Industries for the supply of fake, wooden legs for his team of Pirates. Real Pirates Ltd have been working with Peg Leg Industries for almost 10 years but recently Lee has discovered he will need to terminate the contract due to 'Contract Frustration'. What could be the reason for this?

A. The supplier has committed a material breach
B. An unexpected incident has occurred beyond anyone's control
C. The supplier has leaked confidential information about Real Pirates Ltd to a competitor
D. The supplier has become insolvent

Answer: B

Explanation:
The correct answer is 'An unexpected incident has occurred beyond anyone's control'. A good example of this would be the Covid-19 pandemic- neither the buyer nor supplier could have predicted this, and if this means that the contract can't be completed - then the contract can be terminated (in the UK at least). A way to avoid this would be to include a Force Majeur clause listing possible circumstances that could occur. When there's a Force Majeur clause, these eventualities are now classed as foreseen rather than unforeseen. See p.108

NEW QUESTION # 100
Stephen Jones is assessing the relationships he has with his supplier base. Which of the following would be drivers for Stephen to adopt a partnership relationship with a supplier?

A. 1 and 4 only
B. 2 and 3 only
C. 1 and 2 only
D. 2 and 4 only

Answer: D

Explanation:
High expenditure levels and the complexity of requirements justify partnership sourcing, as it allows for collaborative problem-solving, innovation, and cost-efficiency. CIPS emphasizes that partnerships are ideal when requirements are complex and require expertise from the supplier.

NEW QUESTION # 101
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.

A. Innovation developed as part of collaborative projects
B. Reducing costs
C. Better payment terms
D. Reduction of waste

Answer: A,D

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 # 102
......

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Grace Moore Grace Moore

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