L4M5 LATEST TEST QUESTIONS | FLEXIBLE L4M5 LEARNING MODE

L4M5 Latest Test Questions | Flexible L4M5 Learning Mode

L4M5 Latest Test Questions | Flexible L4M5 Learning Mode

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CIPS L4M5 Commercial Negotiation exam is an essential component of the CIPS Level 4 diploma in procurement and supply. It tests the candidate's knowledge and skills in commercial negotiation, which is a critical skill for procurement professionals. Passing L4M5 exam demonstrates that the candidate has a solid understanding of negotiation processes, tactics, and strategies, and can apply them effectively in real-world situations. Commercial Negotiation certification is highly valued in the procurement and supply chain industry and can help professionals advance their careers in the field.

CIPS L4M5 exam is an essential certification for procurement professionals seeking to enhance their negotiation skills. It covers a range of topics, including negotiation planning, power and influence, communication skills, and conflict resolution, making it a practical and relevant qualification. L4M5 Exam is recognized globally as a standard of excellence in commercial negotiation, and it is a valuable certification for procurement professionals seeking to improve their career prospects and demonstrate their expertise to potential employers.

The L4M5 Commercial Negotiation Certification Exam is designed for procurement and supply chain professionals who are involved in negotiating contracts and agreements with suppliers and vendors. Commercial Negotiation certification is suitable for individuals who are looking to enhance their negotiation skills and develop a strategic approach to negotiating commercial contracts.

>> L4M5 Latest Test Questions <<

Commercial Negotiation practice torrent & L4M5 study guide & Commercial Negotiation dumps vce

Because the Commercial Negotiation (L4M5) test has a restricted time constraint, time management must be exercised to get success. Only with enough practice one can answer real CIPS L4M5 Exam Questions in a given amount of time. It has created three formats to aid CIPS L4M5 applicants in practicing and organizing their time for this aim.

CIPS Commercial Negotiation Sample Questions (Q91-Q96):

NEW QUESTION # 91
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply

  • A. JCB's switching costs are low
  • B. These components are highly standardised
  • C. Buyers purchase in small volumes
  • D. Suppliers are more concentrated than buyer
  • E. Eruption of epidemic in supply market

Answer: A,B

Explanation:
Explanation
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:

Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer'spower:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correctbecause:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3


NEW QUESTION # 92
Buying organisation may increase its leverage with suppliers by concentrating spend. Which of the following are most likely to be forms of supplier spend consolidation? Select THREE that apply.

  • A. Volume consolidation across categories
  • B. Forming purchasing consortia
  • C. Simplify procurement process
  • D. Paying supplier on time
  • E. Volume redistribution
  • F. Volume separation

Answer: A,B,E

Explanation:
Buying organisation may increaseits leverage with suppliers by concentrating spend. Supplier spend consolidation can take many forms as outlined below:
Vendor base reduction: straightforward reduction of number of suppliers in any category Volume pooling: pooling cross organisational requirement until your order volume is high enough to attract new bidders/additional discounts Volume redistribution: making recommendations following spend analysis to move from one supplier to another Volume consolidation across categories: certainpurchase requirements may be common across a number of categories Standardisation and harmonisation of specifications: analysis of specifications and standards for a high spend purchased input, may show that there is a little difference between them and that the specification can be standardised or at least harmonised across the group or across national, regional or global operations.
Forming purchasing consortia: buyers may decide to come together and combine their purchase volumes to attract better deals.


NEW QUESTION # 93
Which of the following is the best description of direct cost?

  • A. Direct costs include only raw materials and labour of making the final product
  • B. Direct costs include raw materials, labour and other expenses attributable to the final product
  • C. Direct costs are only variable raw materials that constitute a product
  • D. Direct costs include raw materials, labour andoverheads

Answer: B

Explanation:
Direct costs are those costs of a product/service directly attributable/traceable to its production, for example, the costs of labour and materials directly used to produce the goods/services which the organisation sells.


NEW QUESTION # 94
Which of the following are types of questions that are useful in opening and testing phases of a negotiation?
Select the TWO that apply.

  • A. Leading
  • B. Probing
  • C. Narrow
  • D. Closed
  • E. Open

Answer: B,E

Explanation:
:
In the opening phase, parties should confirm understanding and get the issues on the table.
The testing phase is an information gathering stage where the hypothesis and assumption you have made in the planning stage can be tested or confirmed or disproved.
Opening questions (those that start with 'what', 'how', 'why') are used at the opening and testing stages to uncover needs and underlying motives, and to allow the buyer to get a feel of what is in store in the negotiation.
Probing questions are also useful to check that the supplier fully understand their offering, as well as your needs, and can also be used to communicate to the supplier that you know this category well. These questions are typically useful at the opening and testing stages.


NEW QUESTION # 95
Where there are high levels of commitment to relationships between both the buyer and supplier, this is seen as collaborative and beneficial to negotiations. Is this statement correct?

  • A. Yes, characteristics include arm's length transactions and minimal communication
  • B. No, this can be classified as adversarial
  • C. Yes, characteristics include risk management and strategic planning
  • D. No, collaboration does not require commitments from either side

Answer: C


NEW QUESTION # 96
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This kind of polished approach is beneficial for a commendable grade in the Commercial Negotiation (L4M5) exam. While attempting the exam, take heed of the clock ticking, so that you manage the CIPS L4M5 questions in a time-efficient way. Even if you are completely sure of the correct answer to a question, first eliminate the incorrect ones, so that you may prevent blunders due to human error.

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