THE BEST L4M5 TEST STUDY GUIDE SPEND YOUR LITTLE TIME AND ENERGY TO CLEAR L4M5: COMMERCIAL NEGOTIATION EXAM CERTAINLY

The Best L4M5 Test Study Guide Spend Your Little Time and Energy to Clear L4M5: Commercial Negotiation exam certainly

The Best L4M5 Test Study Guide Spend Your Little Time and Energy to Clear L4M5: Commercial Negotiation exam certainly

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Tags: L4M5 Test Study Guide, Certification L4M5 Sample Questions, L4M5 Test Preparation, L4M5 Answers Free, L4M5 Exam Quick Prep

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CIPS L4M5 Certification Exam is recognized by employers around the world as a mark of excellence in commercial negotiation. Commercial Negotiation certification demonstrates that a candidate has the knowledge and skills necessary to succeed in negotiating commercial contracts and agreements. Employers often require this certification for individuals in procurement and supply chain management roles, as it is a key indicator of competence and professionalism.

CIPS L4M5 exam is highly valued by employers in the procurement and supply chain industry. This qualification demonstrates that the candidate has the necessary skills and knowledge to negotiate effectively and achieve the best possible outcomes for their organization. Passing L4M5 Exam also opens up career opportunities for procurement professionals, as it is a requirement for many senior procurement roles. Overall, the CIPS L4M5 exam is an essential qualification for anyone who wants to excel in the field of procurement and supply chain management.

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Certification L4M5 Sample Questions - L4M5 Test Preparation

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CIPS L4M5 (Commercial Negotiation) certification exam is a professional qualification that is designed to test the knowledge and skills of individuals in the field of commercial negotiation. Commercial Negotiation certification exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a global organization that provides training and development opportunities for procurement and supply chain professionals.

CIPS Commercial Negotiation Sample Questions (Q228-Q233):

NEW QUESTION # 228
An organisation is developing the specification for a capital purchase project. An important stakeholder has doubt on the draft specification. The buyer invites him to the product function meetings. In these meeting the attendees can raise their concerns, the specification development team takes in all the concerns and adjusts the specification accordingly. What kind of technique is the specification development team using?

  • A. Persuasive reasoning
  • B. Coalition
  • C. Directive
  • D. Visionary

Answer: B

Explanation:
In the scenario, anyone who has concerns can join a meeting to raise their thoughts. The project team takes the stakeholders' ideas into account. This is known as coalition: A group of people or organisations come together and work collaboratively to achieve some goals. Specifically in this scenario, the goal is creating a high-quality and unified specification for an important project.
Reference:
CIPS study guide page 164-165
What Is a Coalition Anyway?


NEW QUESTION # 229
Which of the following are internal factors when a supplier is making its pricing decision?
Price elasticity of demand
Environmental legislation
Risk management
The stage in the product life cycle

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

Answer: B

Explanation:
Risk management (3) and the stage in the product life cycle (4) are internal factors within the supplier's control and directly influence pricing decisions. These internal factors guide strategic pricing policies. In contrast, price elasticity of demand and environmental legislation are external factors, as per CIPS's guidelines on pricing influences.


NEW QUESTION # 230
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?

  • A. The buyer does not have the option to move to an alternative supplier
  • B. The buyer demand is so urgent that it can't be postponed
  • C. The buyer is large in size relative to its suppliers
  • D. The buyer's spend takes up a small proportion of supplier revenue

Answer: C

Explanation:
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
There are four major factors to consider when determining the bargaining power of buyers:
1. Number of buyers relative to suppliers: If the number of buyers is small relative to that of suppliers, the buyer's power will be stronger.
2. Dependence of a buyer's purchase on a particular supplier: If a buyer is able to get similar products
/services from other suppliers, buyers depend less on a particular supplier. Therefore, the power of the buyer would be greater.
3. Switching costs: If there are not many alternative suppliers available, the cost of switching is high.
Therefore, buyer power would be low.
4. Backward Integration: If the buyer is able to integrate or merge suppliers, the buyer has greater bargaining power over the existing suppliers.
When is Bargaining Power of Buyers High/Strong?
There are fewer buyers relative to that of suppliers
The switching costs of the buyer are low
If the buyer is able to backward integrate
The buyer purchases product in bulk (high volume)
The buyer is able to get similar product/services from other suppliers
The buyer purchases the majority of the seller's products
Several substitutes are available on the market
Product is not differentiated
Reference:
CIPS study guide page 54-56
What is the Bargaining Power of Buyers?


NEW QUESTION # 231
Which of the following are internal factors when a supplier is making its pricing decision?

  • A. 1 and 4 only (Price elasticity of demand and The stage in the product life cycle)
  • B. 2 and 3 only (Environmental legislation and Risk management)
  • C. 3 and 4 only (Risk management and The stage in the product life cycle)
  • D. 1 and 2 only (Price elasticity of demand and Environmental legislation)

Answer: C


NEW QUESTION # 232
A public agency opens a tendering process for a road building project that lasts approximately 1 year. They post theirrequirements on public journal and receive some interests. After conducting due diligence process and selecting the lowest bidder, the project commences. However, the supplier complains that price of material increases because of a shortage of supply, thenthey demands an 5% uptick in contract value. The agency investigates the increment and sees that there is indeed a fluctuation in prices of supplier's input. They are likely to accept the proposal, but they are also concerned that supplier may demand more. To avoid making another concession with the supplier, which of the following should be a priority action of the agency?

  • A. Seek approval from higher authority
  • B. Document a contract variationthat only allows another concession if some specific conditions arise
  • C. Postpone the decision making until the budget is ready
  • D. Disapprove supplier's demands until they finish the project

Answer: B

Explanation:
Explanation
The agency (buyer) has made a concession about the price. Possibly the supplier will request another concession (the salami tactics). To avoid this to be happened, the agency should only allow a concession as an exception, make sure that the concession is documented and only permitted against some exceptional circumstances, and seek agreement to this from the supplier.
LO 3, AC 3.2


NEW QUESTION # 233
......

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