Supplier Relationships L4M6 real exam questions have been cracked, which are good enough for you to prepare for this CIPS Level 4 Diploma in Procurement and Supply exam. Supplier Relationships L4M6 exam is designed for those who have responsibility for maintaining and managing relationships with stakeholders and suppliers and for those who may be faced with establishing anddeveloping formal partnerships. The other CIPS L4M6 exam information is also helpful in the preparation.
To pass Supplier Relattionships L4M6 exam, you are able to analyse the dynamics of supplier relationships, examine the processes and procedures for working with stakeholders and appreciate the concept of partnering. Each candidate has 1.5 hours to complete Supplier Relationships L4M6 exam. After passing this Supplier Relationship L4M6 exam, you can get 6 Credits.
The following are the details of Level 4 Diploma in Procurement and Supply L4M6 exam objectives.
1.0 Understand the dynamics of relationships in supply chains
1.1 Differentiate between different types of commercial relationships in supply chains
1.2 Appraise portfolio analysis techniques to assess relationships in supply chains
1.3 Identify the competitive forces that impact on relationships in supply chains
1.4 Compare the sources of added value that can be achieved through supply chain relationships
2.0 Understand processes and procedures for successful working with stakeholders
2.1 Analyse the purpose of organisational procedures and processes in sourcing goods and/or services
2.2 Compare team management techniques to ensure positive stakeholder relationships
2.3 Compare the practical considerations of stakeholder management
2.4 Identify the processes for terminating stakeholder relationships
3.0 Understand the concept of partnering
3.1 Analyse the concept of partnering and where it is a suitable approach
3.2 Appraise the process of partnership implementation
3.3 Identify the reasons why partnerships fail
Share Supplier Relationships L4M6 Real Exam Questions
Supplier Relationships L4M6 real exam questions are the best material for you to study all the above Level 4 Diploma in Procurement and Supply L4M6 exam objectives. Share some Supplier Relationships L4M6 real exam questions and answers below.
1. Innovation is a key consideration when entering into a partnership. Is this statement true?
A. Yes- joint innovation projects are often a strong motivation for entering into a partnership
B. Yes- innovation is the only reason to enter into a partnership
C. No- the key consideration when entering a partnership is cost reduction
D. No- innovation is best achieved in a contractual relationship where KPIs can be monitored closely.
Answer: A
2. Grey Stone Memorial Hospital is a private medical facility which has an idea for a vaccine to a deadly disease, but does not have the capacity to make the vaccine itself. It is considering partnering with a well-known pharmaceutical company in order to bring the vaccine to market. What is the biggest risk to Grey Stone?
A. Intellectual Property Rights
B. Increased Costs
C. Low quality product
D. Uninformed stakeholders
Answer: A
3. 'tail spend' is a common category used in procurement and describes a category of items. What characteristics do theses items have?
A. High value, low volume
B. High value, high volume
C. Low value, high volume
D. Low value, low volume
Answer: C
4. Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
A. They may gain an increased volume of business
B. There is more flexibility when selling the product
C. The Intellectual Property Rights of the buyer become yours
D. They no longer have to try as hard to win business.
Answer: A
5. Phone Maker Incorporated is a manufacturer of mobile phones. It is considering investing in a partnership with its supplier of batteries and circuit boards as it wishes to produce new models of its phone more regularly. What is the main driver for Phone Maker Incorporated?
A. Cheaper costs
B. Changes in the marketplace
C. Better quality products
D. Reduced product life-cycles
Answer: D
