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L4M5 Best Study Material, L4M5 Reliable Test Guide

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CIPS L4M5 Exam is an important certification for procurement and supply chain professionals seeking to advance their careers. L4M5 exam tests a candidate's understanding of negotiation principles and their ability to apply these principles in commercial contexts. Obtaining the certification can increase a candidate's credibility and competitiveness in the job market while providing valuable skills and knowledge that can be applied in various industries.

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CIPS Commercial Negotiation Sample Questions (Q285-Q290):

NEW QUESTION # 285
Understanding supplier's mark-up and margin can provide procurement professional a comprehensive insight into supplier's net profits. Is this statement true?

A. No, because mark-up and margin inform little about supplier's net profit
B. No, because margin is enough to tell procurement about supplier's profitability
C. Yes, becausesupplier's mark-up and margin are two most valuable sources of information to procurement
D. Yes,because these are two indicators of supplier's future prospect

Answer: A

Explanation:
Explanation
Mark-up and margin allow supplier to make gross profit. Remember that every supplier operates under different cost structures and some are set up to be most profitableat a particular level of volume, so it is dangerous to assume all suppliers can survive on a lower margin if their volume increases. Intelligent buyers understand that mark-up and margin may define gross profits, but they tell you very little about a supplier's net profits.
LO 2, AC 2.1

NEW QUESTION # 286
End users are the only stakeholders that are involved in the preparation of a negotiation. Is this statement true?

A. No, because end-users are external stakeholders
B. Yes, because end-users have greaterexpert power
C. Yes, because only end-users understand their demand
D. No, because budget holders also play an important role

Answer: D

Explanation:
Explanation
Commercial negotiation objectives should bedriven by the business needs of the organisation. Organisations are made up of different stakeholder groups, some of whom may have different, even conflicting objectives.
From a negotiation perspective, stakeholders can be defined as persons or groups thathave interest (or stake) in the outcome of the negotiation you are leading or participating in.
CIPS distinguishes between 3 sets of stakeholders:
- Internal stakeholders
- Connected stakeholders
- External stakeholders
End-users are examples of internalstakeholders. They are the people who will benefit from the purchase of a product or service. However, their interest may conflict with other groups, i.e. the budget controllers whose objective is minimising the expense. In negotiation perspective, procurement should involve different groups of stakeholder.
LO 1, AC 1.1

NEW QUESTION # 287
Which of the following two are recognized strategies to achieve a win-lose outcome?
Making the other party lower its resistance point
Making the other party think this settlement is the best it can achieve Employ empathy to gain mutual understanding Using compromise and creativity tactics

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

Answer: D

Explanation:
In a win-lose outcome, tactics often involve lowering the other party's resistance point (1) and convincing them that the offer is the best possible (2). These strategies are designed to maximize advantage for one party at the expense of the other, fitting with CIPS's win-lose negotiation techniques.

NEW QUESTION # 288
Which of the following best describes Leverage quadrant in Kraljic matrix?

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

Answer: C

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.
Source: Peter Kraljic, HBR

NEW QUESTION # 289
Should a buyer use closed questions in a negotiation?

A. No, supplier will consider closed questions as provocation
B. Yes, because closed questions help to reconfirm certain facts
C. No, the buyer should maximise the use of open questions
D. Yes, because they urge the supplier to provide more :

Answer: B

Explanation:
Asking questions the right way is both an art and a science. Ask the question the wrong way, and the other negotiator might act like a turtle, becoming defensive and withdrawing into their shell. Ask the question the right way, and the other negotiator might "spill the beans.".
Closed Questions: How and when to use them?
Closed questions are those that require a short and focused answer, and are especially helpful in the beginning stages of the negotiation to encourage interaction. They can be used to clarify a point, or to reconfirm certain facts. For example, you can use a closed question to confirm the amount of units the company can produce in a week, or to clarify that what they are really saying is that they don't feel comfortable outsourcing their accounts to India. Most closed questions only require a simple "yes" or "no" response, so there really isn't much room for misinterpretation - great for finding out where both you and they stand.

NEW QUESTION # 290
......

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