L4M5 TEST RESULT - REALISTIC COMMERCIAL NEGOTIATION VALID TEST PRACTICE FREE PDF

L4M5 Test Result - Realistic Commercial Negotiation Valid Test Practice Free PDF

L4M5 Test Result - Realistic Commercial Negotiation Valid Test Practice Free PDF

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Tags: L4M5 Test Result, L4M5 Valid Test Practice, Exam L4M5 Tips, L4M5 Real Exam Answers, L4M5 Valid Test Test

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CIPS L4M5 certification is recognized globally as a mark of excellence in commercial negotiation. It is an industry-standard qualification that demonstrates a high level of expertise and professionalism in this field. By obtaining this certification, professionals can enhance their career prospects, increase their earning potential, and gain a competitive advantage over their peers.

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.

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CIPS Commercial Negotiation Sample Questions (Q160-Q165):

NEW QUESTION # 160
XYZ Ltd decides to go to market for a cleaning contract to service a number of offices. It knows that it will get a price which may, ormay not, be better than the one it is currently paying. To gain leverage in the marketplace, the organisation decides to add other related services to the scope, such as gardening, security and maintenance, which increase the value of the contract. This is an example of which forms of spend consolidation?

  • A. Volume redistribution
  • B. Volume pooling
  • C. Volume consolidation across categories
  • D. Purchasing consortia

Answer: C

Explanation:
Explanation
Buying organisation may increase its leverage with suppliers byconcentrating 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: certain purchase requirements may be common across a number of categories. In the scenario, XYZ has combined different categories but closely related to office services into a larger contract so that they can increase their leverage.
- 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.
LO 1, AC 1.3


NEW QUESTION # 161
Which of the following are most likely to be fundamentals of Fisher & Ury's principled negotiation?
1. Depersonalise the argument
2. Focus on positions
3. Generate creative options
4. Using subjective criteria

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

Answer: D

Explanation:
Principled negotiation is based on four fundamentals: people, interest, options and criteria:

Diagram Description automatically generated
1st Principle: separate the people from the problem: Negotiator should depersonalise the situation and accepting that the subject matter of the negotiation. This can be difficult for untrained negotiators, but this is a key skill to develop
2nd principle: focus on interests, not positions: It is important in principled negotiations not to focus on their parties' positions (what are expressed during negotiations), but on the interests (underlying needs) behind them
3rd principle: invent options for mutual gains: this principle aims to help the parties find a solution that both would benefit from. The more options - or tradeables - that can be brought to the table the better.
4th principle: insist on using objective criteria: is about making sure that the negotiation stays focused on outcomes based on objective criteria and that it is productive.
LO 1, AC 1.2


NEW QUESTION # 162
Procurement team is required to improve leverage with their suppliers through spend consolidation. To check whether there is any opportunity to consolidate spend, which of the following should be priority of procurement team?

  • A. Price analysis
  • B. Total cost analysis
  • C. Spend analysis
  • D. Value engineering

Answer: C

Explanation:
In order to identify opportunities where you can increase your leverage with supplier, you need to understand your spend. Undertaking spend analysis of your accounts payable (AP) data is an essential first step here.


NEW QUESTION # 163
Which of the following will positively affect reputational strength of an organisation? Select TWO that apply.

  • A. Great gap between reputation and reality
  • B. Weak internal coordination
  • C. Adopting out-of-date technology
  • D. High ethical standards
  • E. Strong customer focus

Answer: D,E

Explanation:
Explanation
In a globalisedcommercial world characterised by dynamic market and multiple companies competing for business, a positive corporate reputation can be an enormous asset. Reputational strength in one organisation might be based on some or all of the following characteristics:
- Quality of products or services
- Low cost/high value for money
- High ethical standards
- Reliability
- Cutting-edge technology
- Strong customer focus
- Engineering excellence
LO 1, AC 1.4


NEW QUESTION # 164
Which of the following are microeconomic factors? Select THREE that apply.

  • A. Unemployment levels
  • B. Rates of inflation
  • C. Rates of taxation
  • D. Availability of investors
  • E. Levels of competition
  • F. Distribution channels

Answer: D,E,F

Explanation:
Microeconomic factors refer to elements that affect individual businesses or sectors rather than the economy as a whole. In this case:
Availability of investors (B): Access to investors impacts capital availability for businesses.
Distribution channels (D): Distribution methods directly influence a business's ability to get products to market.
Levels of competition (F): Competition affects pricing and strategic decisions within specific industries.
Taxation rates, unemployment levels, and inflation rates are considered macroeconomic factors, affecting the economy on a broader scale, as per CIPS's definitions of microeconomic vs. macroeconomic influences.


NEW QUESTION # 165
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