COMPLETE L4M6 LATEST MOCK EXAM & GUARANTEED CIPS L4M6 EXAM SUCCESS WITH HIGH-QUALITY PRINTABLE L4M6 PDF

Complete L4M6 Latest Mock Exam & Guaranteed CIPS L4M6 Exam Success with High-quality Printable L4M6 PDF

Complete L4M6 Latest Mock Exam & Guaranteed CIPS L4M6 Exam Success with High-quality Printable L4M6 PDF

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CIPS Supplier Relationships Sample Questions (Q103-Q108):

NEW QUESTION # 103
Cigarettes and alcohol are often described as having an 'inelastic price'. What does this mean?

  • A. The product is subject to high rates of tax
  • B. The product is subject to age restrictions
  • C. Changes in price will greatly affect how much of the item is bought
  • D. Changes in price will not affect how much of the item is bought

Answer: D

Explanation:
A product with an 'inelastic price' means that consumption doesn't really depend on how much it costs. So you could increase the price of alcohol and cigarettes and people would tend to still buy them. A product with an elastic price means that a change in price would have a large affect on the number of people who bought the item. See p.95 for more details on price elasticity.


NEW QUESTION # 104
When developing a supplier partnership, a buyer can take either a strategic or reactive approach. What would be a reason for a reactive approach?

  • A. It will allow for consolidation in the supply chain
  • B. The buyer wishes to create a new product and requires input from a supplier
  • C. You discover that the supplier has a high profit margin
  • D. Sudden changes in the marketplace

Answer: D

Explanation:
The correct answer is 'Sudden changes in the marketplace' - this is a reason a buyer would be reactive. Reactive is when something happens to you and it forces you to act in a certain way. The other options would be strategic rather than reactive. P. 163


NEW QUESTION # 105
The director of procurement for a global telecommunications firm has segmented their expenditure and has decided to focus on developing relationships with their bottleneck suppliers. Is this the correct process?

  • A. No, as there is lots of variety of goods available
  • B. No, as there is vast competition
  • C. Yes, as there are little or no other options available
  • D. Yes, as there are low costs to switching suppliers

Answer: C

Explanation:
Bottleneck suppliers often control critical or scarce resources. Developing relationships with these suppliers is crucial to mitigate risks and ensure continuity of supply, per procurement best practices.


NEW QUESTION # 106
Why is it more difficult for buyers in the public sector to build relationships with suppliers?

  • A. There are regulations prohibiting public sector buyers from developing relationships
  • B. Buyer power is weak in the public sector
  • C. There are regulations that state competitive tender processes must be undertaken regularly
  • D. Buyer power is strong in the public sector

Answer: C

Explanation:
It can be difficult for buyers in the private sector to build relationships with suppliers because of rules that state competitive tenders must be undertaken every few years (within the EU this is usually every 4). This means that both parties aren't as invested in developing the relationship as it's possible the contact will end shortly. Competitive tendering is a requirement in the public sector to ensure value for money for taxpayers. See p.79 for further details. There are no rules stating Public Sector organisations can't have good relationships with suppliers, and in fact most will have good relationships with their current suppliers- the issue is that neither party can get too invested in the relationship as everyone knows it may end shortly. There are rules, however, against entering into Partnership relationships (which is discussed in chapter 3).


NEW QUESTION # 107
The Public Sector in the UK is unable to enter into formal partnership relationships with any supplier. Is this statement TRUE?

  • A. No- the Public Sector can enter into partnership relationships with suppliers providing they have tendered the opportunity
  • B. Yes- the Public Sector is regulated by EU procurement regulations which prohibits this
  • C. Yes- the Public Sector is unable to enter partnerships because they operate in a monopoly market
  • D. No- the Public Sector can enter into partnership relationships when contracts are over the threshold value.

Answer: B

Explanation:
The correct answer is 'Yes- the Public Sector is regulated by EU procurement regulations which prohibits this'. This is stated on p.122. Please note that this study guide and exam were written before Brexit. Once Brexit happens, nobody knows what will happen with this.


NEW QUESTION # 108
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