TRUSTABLE CIPS PASS4SURE L4M5 EXAM PREP - L4M5 FREE DOWNLOAD

Trustable CIPS Pass4sure L4M5 Exam Prep - L4M5 Free Download

Trustable CIPS Pass4sure L4M5 Exam Prep - L4M5 Free Download

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Tags: Pass4sure L4M5 Exam Prep, L4M5 Relevant Questions, L4M5 Practice Test Fee, Vce L4M5 Free, L4M5 PDF Guide

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CIPS L4M5 certification program covers a wide range of topics related to commercial negotiation, including communication skills, negotiation tactics, contract management, and dispute resolution. The program is designed to provide professionals with a comprehensive understanding of the negotiation process and the tools and techniques needed to achieve successful outcomes. The CIPS L4M5 Certification program is highly regarded in the industry and is recognized by employers around the world as a mark of excellence in commercial negotiation.

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L4M5 Relevant Questions & L4M5 Practice Test Fee

The contents of L4M5 exam torrent was all compiled by experts through the refined off textbooks. Hundreds of experts simplified the contents of the textbooks, making the lengthy and complex contents easier and more understandable. With L4M5 study tool, you only need 20-30 hours of study before the exam. L4M5 Guide Torrent provides you with a brand-new learning method. In the course of doing questions, you can memorize knowledge points. You no longer need to look at the complicated expressions in the textbook.

CIPS L4M5 (Commercial Negotiation) certification exam is a professional qualification that is designed to test the knowledge and skills of individuals in the field of commercial negotiation. Commercial Negotiation certification exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a global organization that provides training and development opportunities for procurement and supply chain professionals.

CIPS Commercial Negotiation Sample Questions (Q107-Q112):

NEW QUESTION # 107
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?

  • A. The buyer is large in size relative to its suppliers
  • B. The buyer's spend takes up a small proportion of supplier revenue
  • C. The buyer does not have the option to move to an alternative supplier
  • D. The buyer demand is so urgent that it can't be postponed

Answer: A

Explanation:
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
There are four major factors to consider when determining the bargaining power of buyers:
1. Number of buyers relative to suppliers: If the number of buyers is small relative to that of suppliers, the buyer's power will be stronger.
2. Dependence of a buyer's purchase on a particular supplier: If a buyer is able to get similar products
/services from other suppliers, buyers depend less on a particular supplier. Therefore, the power of the buyer would be greater.
3. Switching costs: If there are not many alternative suppliers available, the cost of switching is high.
Therefore, buyer power would be low.
4. Backward Integration: If the buyer is able to integrate or merge suppliers, the buyer has greater bargaining power over the existing suppliers.
When is Bargaining Power of Buyers High/Strong?
There are fewer buyers relative to that of suppliers
The switching costs of the buyer are low
If the buyer is able to backward integrate
The buyer purchases product in bulk (high volume)
The buyer is able to get similar product/services from other suppliers
The buyer purchases the majority of the seller's products
Several substitutes are available on the market
Product is not differentiated


NEW QUESTION # 108
A procurement professional is preparing for anegotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

  • A. RAQSCI
  • B. PPCA
  • C. MIL
  • D. TIMWOOD

Answer: C

Explanation:
MIL criteria indicate 3 limits that negotiator should establish:
M - Must achieve: minimum target/maximum you can concede on this point; the mandatory requirement or fall back position I - Intend to achieve: realistic target you are aiming for on this point L - Like to achieve: stretch target to achieve on this point.
PPCA is purchase cost analysis
TIMWOOD indicates 7 types of waste in Lean principles
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements


NEW QUESTION # 109
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

  • A. Coal
  • B. Insurance for production lines
  • C. Senior management salary
  • D. Hourly production wages
  • E. Cleaning services
  • F. Scrap metal

Answer: A,D,F

Explanation:
:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costs including the following:
Materials and services bought-in: In steel manufacturer, raw materials are iron ores, scrap metal, coals, etc Labour or wages: money paid to staff for the work involved in producing the product.
Other expenses: other charges incurred that can be specifically attributed to a particular product, batch or service


NEW QUESTION # 110
Which of the following stages of the CIPS Procurement Cycle are typically where commercial negotiations take place?
Contract management and improvement
Develop tender documentation
Market sector analysis
Contract award and implementation

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

Answer: C

Explanation:
Commercial negotiations commonly take place during Contract Management and Improvement (1) and Contract Award and Implementation (4) stages. During these stages:
Contract Management and Improvement (1): Ongoing negotiations may be required to adjust terms and conditions as part of managing the contract lifecycle.
Contract Award and Implementation (4): Initial negotiations finalize terms, setting the foundation for successful contract execution.
These stages are pivotal in ensuring both initial and ongoing alignment, as outlined in the CIPS Procurement Cycle.


NEW QUESTION # 111
Which of the following is the internal factor that is taken into price of a product?

  • A. Risk management
  • B. Elasticity
  • C. Customer tastes
  • D. Exchange rate

Answer: A

Explanation:
In order to answer this question, you should better consider each option:
'Exchange rate' is the value of one nation's currency versus the currency of another nation or economic zone.
This is a macroeconomic factor.
'Elasticity' refers to the degree to which individuals, consumers or producers change their demand or the amount supplied in response to price or income changes. This is a microeconomic factor Consumer tastes refer to the products and services that consumers consciously choose over others. Consumer tastes are so powerful that they can change how businesses conduct their activity. Like elasticity, this is also a microeconomic factor.
Among 4 options, only risk management is the internal factor. Risk pricing is a strategy applied by many companies in the world. To learn how to price the risk, you can read an article from McKinsey: https://www.
mckinsey.com/business-functions/marketing-and-sales/our-insights/how-to-price-risk-to-win-and-profit This is a question that a student met in her actual exam. The knowledge section is unknown.
LO: Unknown, AC: Unknown


NEW QUESTION # 112
......

L4M5 Relevant Questions: https://www.pass4sures.top/CIPS-Level-4-Diploma-in-Procurement-and-Supply/L4M5-testking-braindumps.html

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