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Reliable L4M5 Latest Exam Book Spend Your Little Time and Energy to Pass L4M5: Commercial Negotiation exam

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CIPS L4M5 exam, also known as Commercial Negotiation, is a vital exam for professionals seeking to advance their careers in procurement and supply chain management. L4M5 exam is part of the Chartered Institute of Procurement and Supply (CIPS) professional qualifications, which are recognized globally as the standard for procurement professionals. The L4M5 Exam focuses on negotiation skills, which are essential for procurement professionals to ensure that their organizations receive the best value for their money and build strong relationships with suppliers.

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CIPS L4M5 exam is a challenging but rewarding qualification that can help procurement and supply chain professionals advance their careers and enhance their negotiation capabilities. By passing L4M5 exam, candidates demonstrate their expertise in commercial negotiation and their commitment to professional development in this critical field.

CIPS L4M5 exam, also known as Commercial Negotiation, is an important certification for procurement professionals seeking to enhance their negotiation skills. L4M5 Exam is designed to test candidates' knowledge and understanding of the principles, techniques, and strategies used in commercial negotiation. It is an essential requirement for procurement professionals who want to excel in their careers and contribute to the growth of their organizations.

CIPS Commercial Negotiation Sample Questions (Q310-Q315):

NEW QUESTION # 310
Win-lose approach is most likely to be associated with which of the following type of relationship?

A. Strategic alliance
B. Outsourcing
C. Partnership
D. Adversarial

Answer: D

Explanation:
Distributive approach to negotiation used when the interested parties are attempting to divide something up or distribute something of value, also known as zero-sum approach or win-lose. Win-lose approach is useful when the relationship with the other party (TOP) is short-term and once-off.
The question mentions 4 types of relationship:
Adversarial: Both seek to maximize position at the expense of the other. Almost no trust, communication and cooperation. These suppliers will probably provide non-core products or services with the buyer purchasing them on a one-off basis.
Outsourcing relationship: Use competent suppliers to manage non-core businesses previously done in-house.
Require high level of trust and collaboration
Partnership: Both work closely on long term development by sharing information, technology and ideas.High level of trust with the aim to benefit both parties (win-win) Strategic alliance: Both parties identify areas where they could collaborate to create mutual benefits Among these 4 types ofrelationship, only adversarial is once-off. Then it is the correct answer.

NEW QUESTION # 311
Which of the following would cause a demand curve for a good to be price inelastic?

A. The necessary goods
B. The consultancy service
C. There are a great number of substitutes for the good
D. The luxury goods

Answer: A

Explanation:
Essential goods and services such as electricity, fuel, basic food stuffs, commuter transport and habitual products such as tobacco, alcohol and sugar-based drinks are often sited as facing a relatively inelastic demand curve. This means when the price goes up, the quantity demanded does not decrease very much and so they are often the target of government taxation.
LO2, AC 2.2

NEW QUESTION # 312
Sumitomo Rubber Industries (SRI) is a Japan-based tyre manufacturer. In order to increase production, SRI is sourcing rubber from Southeast Asian firms. Which of the following micro factors are most likely to shift the balance of power to supplier? Select TWO that apply

A. There are no close substitutes for rubber
B. SRI sets up its own rubber plantation
C. Costs of changing suppliers are high
D. Rubber from different suppliers is virtually similar
E. SRI's purchase amount makes significant proportion of supplier revenue

Answer: A,C

Explanation:
:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical Micro level: Porter's five forces:
Diagram Description automatically generated
One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases supplier's bargaining power. Among 5 answers, only
2 are likely to increase buyer's power:
There are no close substitutes for rubber: the buyer has to buy rubber, not any other material.
Costs of changing suppliers are high: buyer entails a large barrier if they want to switch supplier.
Other answers cannot be correct because:
SRI sets up its own rubber plantation: Buyer secures its own supply
SRI's purchase amount makes significant proportion of supplier revenue: Suppliers are reliant on buyer. If the buyer stops buying from them, they can face serious cash flow problems Rubber from different suppliers is virtually similar: undifferentiated product would shift the power balance towards buyer.

NEW QUESTION # 313
Neville is a senior procurement specialist in a automaker. He has good relationship with his team mates and other departments because of his amazing purchasing skills and kindness. Which of the following sources of power is Neville likely to possess?

A. Reward
B. Coercive
C. Legitimate
D. Referent

Answer: D

Explanation:
:
In 1959, French and Raven described five bases of power:
1. Legitimate - This comes from the belief that a person has the formal right to make demands, and to expect others to be compliant and obedient.
2. Reward - This results from one person's ability to compensate another for compliance.
3. Expert - This is based on a person's high levels of skill and knowledge.
4. Referent - This is the result of a person's perceived attractiveness, worthiness and right to others' respect.
5. Coercive - This comes from the belief that a person can punish others for noncompliance.
Six years later, Raven added an extra power base:
6. Informational - This results from a person's ability to control the information that others need to accomplish something.
In the scenario, Neville attracts and keeps good relationship with his colleagues not because of neither position nor reward nor coercion. He has good skills and kindness, which increase his charisma. His source of power is referent power.

NEW QUESTION # 314
Champion Toys (CT) is negotiating a large order of luxury toys with its supplier, Top Teds. CT has identified that lead times, order quantities, and delivery locations are tradeables that could be used in this negotiation. At which negotiation stage should CT introduce these tradeables?

A. Proposing
B. Bargaining
C. Opening
D. Closure

Answer: B

NEW QUESTION # 315
......

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