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Exam L4M6 Questions – L4M6 Reliable Exam Sims
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CIPS L4M6 Exam Syllabus Topics:
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CIPS Supplier Relationships Sample Questions (Q70-Q75):
NEW QUESTION # 70
Which of the following is an advantage for the suppler of entering into a partnership with a buyer?
- A. The Intellectual Property Rights of the buyer become yours
- B. They no longer have to try as hard to win business.
- C. They may gain an increased volume of business
- D. There is more flexibility when selling the product
Answer: C
Explanation:
The correct answer is ‘They may gain an increased volume of business’. The other options are just not true. See p.130 for advantages and disadvantages of partnerships from both the buyer and supplier’s perspective. This is a hot topic for the exam.
NEW QUESTION # 71
The Pareto Principle is sometimes also known as what?
- A. Cost Engineering
- B. JIT
- C. ABC Analysis
- D. Five Forces
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 # 72
Partnership sourcing is often considered a ‘high-risk’ strategy for a buyer. Which of the following is not a risk generally associated with partnership sourcing?
- A. Supplier may become complacent
- B. Reduced waste in the supply chain
- C. Sharing commercially sensitive data with another party
- D. Single-sourcing may leave the buyer without a supply if the supplier goes into liquidation
Answer: B
Explanation:
The correct answer is ‘Reduced waste in the supply chain’ – this is not a risk, this is a benefit P.134
NEW QUESTION # 73
Red Ltd and Blue Ltd have had a disagreement over a high value project they have been partnering on. They have been unable to resolve the issues inhouse and Red Ltd has suggested Mediation as an option. Is this a good option?
- A. No- mediation could have a negative impact on the companies’ reputation
- B. No- it would be better to solve the disagreement in-house
- C. Yes- mediation involves a neutral third party and gets both parties to attempt to reach a compromise
- D. Yes- mediation means the buyer and supplier agree to accept a third party’s decision which will solve the disagreement issues
Answer: C
Explanation:
The correct answer is ‘Yes- mediation involves a neutral third party and gets both parties to attempt to reach a compromise’. Be careful not to confuse mediation with arbitration – arbitration is when the buyer and supplier agree to accept a third party’s decision which will solve the disagreement issues. See p.112 for more information on solving disputes
NEW QUESTION # 74
ABC is a company which sources a vital component from a supplier. There are only a few suppliers in the industry and without this component, ABC would not be able to produce their final product. What type of relationship should ABC seek to develop with their supplier?
- A. outsource
- B. arms length
- C. transactional
- D. strategic alliance
Answer: D
Explanation:
As the component is vital to their business, ABC should seek a collaborative relationship with the supplier. There are three types of collaborative relationship (co-destiny, partnership and strategic alliance). Of these only strategic-alliance is given as an option. Remember – strategic purchase = collaborative relationship with supplier. There are many questions on the Relationship Spectrum on the exam. See p.5 for more details
NEW QUESTION # 75
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