Authentic CIPS L4M5 Exam Questions | Latest L4M5 Test Cost

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CIPS L4M5 exam is a crucial certification for procurement and supply chain professionals who wish to enhance their negotiation skills in commercial settings. L4M5 exam covers a range of topics, including negotiation planning, strategies, tactics, and techniques, and assesses the candidate's ability to apply these concepts to real-life commercial scenarios. Successfully passing the exam demonstrates the candidate's expertise and practical skills required to negotiate complex commercial agreements confidently and provides a pathway to further professional development and career advancement.

CIPS L4M5 Exam is ideal for procurement professionals who are involved in negotiating contracts, agreements, and other commercial arrangements with suppliers and vendors. It is also relevant for professionals who want to develop their negotiation skills to enhance their effectiveness in other areas of procurement, such as supplier management and stakeholder engagement.

CIPS Commercial Negotiation Sample Questions (Q276-Q281):

NEW QUESTION # 276
Which of the following is the process enabling the buyer to share with the supplier their purposes and needs to focus on some specific areas such as quality, cost, social and environmental standards, etc in the supplier's bids?

A. Supplier selection
B. Supplier conditioning
C. Supply positioning
D. Supplier appraisal

Answer: B

Explanation:
:
Supplier conditioning is the process of influencing a supplier or suppliers to behave in a certain way, or to accept certain circumstances. Within a negotiation, the buyer needs to make sure that the supplier has a number of messages in mind, about the outcomes that the buyer needs to achieve and about the shared sense of purpose that buying organisation has in achieving these outcomes.
Supplier appraisal is a process of evaluating a supplier's ability to carry out a contract in term of quality, delivery, price and other contributing factors.
Supplier positioning is the process of classifying spend with a supplier in terms of the profit potential and supply risk and assists in prioritising categories of spend and developing the right strategy.
Supplier selection is the process of selecting a supplier to acquire the necessary materials to support the outputs of organisations. Selection of the best and/or the most suitable suppliers is based on assessing supplier capabilities (Shih et al., 2004).

NEW QUESTION # 277
Personal power is only used in distributive approach. Is this statement true?

A. Yes, because only distributive approach to negotiation requires strong personal power
B. No, because personal power can be very helpful in integrative approach
C. No, because only organisational power will optimise the negotiation outcomes
D. Yes, because one party will abuse coercive power to maximise the gain

Answer: B

Explanation:
Power, or more precisely perceptions of power, are critically important in understanding the commercial negotiation process. From a commercial negotiation point of view (under any circumstances, either integrative or distributive approach), CIPS is interested in power from both a personal and organisational perspective.
When you are negotiating on behalf of your employer, you bring the power of your organisation (its brand, reputation and purchasing spend) as well your own personal power (6 sources of personal power, based on French and Raven's power base model) to the negotiation.
In both integrative and distributive approaches, personal power plays an important role. It helps both parties push through negotiating barriers and secure commitment and final agreement LO 1, AC 1.3

NEW QUESTION # 278
Which type of power is considered the opposite of coercive power?

A. Referent power
B. Expert power
C. Informational power
D. Reward power

Answer: D

Explanation:
The coercive power comes from the belief that a person can punish others for non-compliance. It can be considered as opposite to reward power, which results from one person's ability to compensate or reward another for compliance.
LO 1, AC 1.3

NEW QUESTION # 279
At the first stage of CIPS Procurement and Supply Cycle (Understand need), which of the following is the most important duty of procurement professional?

A. Deciding whether RFQ or ITT should be used
B. Demand management
C. Evaluating the interests from suppliers
D. Undertaking 'reverse marketing'

Answer: B

Explanation:
:
At the first stage of CIPS Procurement and Supply Cycle (Understand need and develop a high-level specification), procurement professional mainly negotiate with internal stakeholders. They have a duty to proportionately and constructively challenge specification if there's genuine doubt over the need or how the need is expressed. This is called demand management. Their first duty is to the organisation's treasury, not to functional managers.
Demand management including: negotiation/challenge between procurement and internal stakeholders over the need/requirement/specification. Remember that in any process or product, the greatest opportunity for cost reduction is at the design stage.

NEW QUESTION # 280
Which of the following will shift the supply curve to the right?

A. New disruptive technology
B. Changes in customer taste
C. Decreased market price of substitute products
D. Increased customers' disposable income

Answer: A

Explanation:
The following graph shows the factors that shift the supply curve to the left and to the right.

NEW QUESTION # 281
......

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Authentic CIPS L4M5 Exam Questions | Latest L4M5 Test Cost

Latest L4M5 Test Cost & L4M5 Test Review

CIPS Commercial Negotiation Sample Questions (Q276-Q281):

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