L4M5 REAL EXAM - L4M5 CLEAR EXAM

L4M5 Real Exam - L4M5 Clear Exam

L4M5 Real Exam - L4M5 Clear Exam

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Tags: L4M5 Real Exam, L4M5 Clear Exam, Authorized L4M5 Test Dumps, Certified L4M5 Questions, Exam L4M5 Practice

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The CIPS L4M5 Exam covers a broad range of topics, including negotiation preparation and planning, the psychology of negotiation, power dynamics, cultural differences, and ethical considerations. By studying for and earning this certification, candidates will gain a detailed understanding of these topics, which will help them to negotiate more effectively and achieve better outcomes for their organizations. Those who pass the exam will be better equipped to navigate the complex and often unpredictable world of commercial negotiations, making them highly desirable candidates for a variety of procurement and supply chain management positions.

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Latest Updated CIPS L4M5 Real Exam - Commercial Negotiation Clear Exam

DumpsFree Commercial Negotiation (L4M5) exam questions are the best because these are so realistic! It feels just like taking a real L4M5 exam, but without the stress! Our L4M5 Practice Test software is the answer if you want to score higher on your real CIPS L4M5 certification exam and achieve your academic goals.

CIPS L4M5 (Commercial Negotiation) Certification Exam is an essential qualification for professionals who are involved in commercial negotiations. Commercial Negotiation certification is designed to help individuals gain the skills and knowledge necessary to succeed in the world of commercial negotiation. L4M5 Exam is offered by the Chartered Institute of Procurement and Supply (CIPS), a global organization that promotes excellence in procurement and supply chain management.

CIPS Commercial Negotiation Sample Questions (Q127-Q132):

NEW QUESTION # 127
Which of the following best describes Leverage quadrant in Kraljic matrix?

  • A. High complex, low importance
  • B. Low risk, high importance
  • C. High value, high complex
  • D. Low risk, low importance

Answer: B

Explanation:
In 1983, Peter Kraljic devised a means to segment the supplier base in the article in HBR. In this, he argued that supply items should be mapped against two key dimensions: risk and profitability.
Risk relates to the likelihood for an unexpected event in the supply chains to disrupt operations. For instance, in important areas of spend, such as tire suppliers for an automotive are business critical, and should a disruption occur, the auto company is likely itself to face substantial problems.
Profitability describes the impact of a supply item upon the bottom line. For certain areas of spend, such as stationery, supplies have only a negligible effect on profits. In other categories, a single source of supply can make or break a business.
Putting these two dimensions together yields a classic two-by-two matrix.
Diagram Description automatically generated

Source: Peter Kraljic, HBR


NEW QUESTION # 128
A procurement manager has been asked to procure 1,000 pens. He suggests to his manager that to obtain the best value for money, they should undertake a competitive bidding process. Would this be the best course of action?

  • A. Yes, the process will be opened up to many suppliers and therefore will result in a cheaper price for the pens
  • B. Yes, as all procurement processes should go through competitive bidding to achieve the best value for money
  • C. No, competitive bidding should only be used in public sector organisations
  • D. No, competitive bidding should only be used when the value justifies the time spent on the process

Answer: D

Explanation:
Competitive bidding is generally recommended for high-value or complex purchases where the cost and time required for the bidding process are justified. For low-value, routine items like pens, the time and resources required for competitive bidding may outweigh the potential cost savings, as noted in CIPS best practices.
Hence, Option C is the best answer.


NEW QUESTION # 129
Which of the following are signs indicating that the trust between buyer and supplier has improved? Select TWO that apply.

  • A. Transparent decision makingprocess
  • B. Less frequent communication on business requests
    Duplication of effort
  • C. Decreasing percentage of missed delivery overtime
  • D. Cost overruns

Answer: A,C

Explanation:
Explanation
Signs of trust in business relationships
* Mutually agreed and managed objectives
* Sharing information
* Managing conflict through joint problem solving
* On time delivery of products and services
* High-performance teams that feel empowered to get the job done
* Supplier welcomes opportunity to innovate
* Both parties share ideas and insight
* Clear criteria for decision making
LO 1, AC 1.4


NEW QUESTION # 130
Which of the following are hardball tactics in negotiations? Select TWO that apply.

  • A. Expand the pie
  • B. Good cop, bad cop
  • C. Bridging
  • D. Snow job
  • E. Sweetening the deal

Answer: B,D

Explanation:
:
In difficult negotiations and disputes, hardball tactics like punishment and threats often seem like the only way to win concessions. Some negotiators seem to believe that hardball tactics are the key to success in any negotiation. They resort to extreme demands and even unethical behaviour to try to get the upper hand in a negotiation.
The following are 8 typical hardball tactics:
1. Good cop / Bad cop
2. Low ball / High ball
3. Bogey
4. The Nibble
5. Chicken
6. Intimidation
7. Aggressive Behaviour
8. Snow Job
You can read the details of each tactic here.
In the contrary to hardball tactics, negotiators can adopt integrative approach to the negotiation. Some of integrative tactics are:
1. Expand the Pie
2. Bridging
3. Post Settlement -Settlement
Et cetera


NEW QUESTION # 131
According French and Raven's base model, which of the following are sources of personal power that can be used in commercial negotiation? Select THREE that apply.

  • A. Competitive power
  • B. Coercive power
  • C. Expert power
  • D. Purchasing spend power
  • E. Legitimate power
  • F. Trademark power

Answer: B,C,E

Explanation:
A useful model of personal power that has survived the test of time and provide a simple way to analyse negotiation in French and Raven's Power BaseModel, which describes six bases of power:

Diagram Description automatically generated


NEW QUESTION # 132
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