LATEST L4M5 BRAINDUMPS - L4M5 PDF DUMPS FILES

Latest L4M5 Braindumps - L4M5 PDF Dumps Files

Latest L4M5 Braindumps - L4M5 PDF Dumps Files

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The exam requires an enormous amount of effort and determination and dedication to get to the end goal. TestkingPDF is one of the most reliable platforms that offer an accurate, reliable, and straightforward CIPS L4M5 dumps to ensure the success of students on the initial try. TestkingPDF offers the complete package that includes all exam dumps conforming to the syllabus for passing the Commercial Negotiation (L4M5) exam certificate in the first try.

Another benefit of the CIPS L4M5 Exam is that it is highly respected within the procurement profession. The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body, and the CIPS L4M5 Exam is widely recognized as a benchmark qualification for procurement professionals. Achieving this qualification demonstrates a commitment to professional development and a willingness to enhance negotiation skills, which can help to open up new career opportunities and increase earning potential.

CIPS L4M5 Exam covers a range of topics, including negotiation planning, strategies, tactics, and techniques. It also covers the legal aspects of commercial negotiation, such as contract law, dispute resolution, and intellectual property rights. L4M5 exam assesses the candidate's ability to apply these concepts to real-life commercial scenarios and make informed decisions to achieve successful outcomes.

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CIPS Commercial Negotiation Sample Questions (Q295-Q300):

NEW QUESTION # 295
A senior buyer analyses the supply market and he realises that his organisation is treated asExploit according to supplier's perspective model. What does he need to do?

  • A. Adopt opaque processes
  • B. Pay the suppliers on time
  • C. Raise the transactional costs to do business
  • D. Increase the spend value

Answer: B

Explanation:
Explanation
The supplier's perspective model has two axes: Spend value and Attractiveness:
Chart, table Description automatically generated

Exploit is the quadrant where the buyer has high spend but low attractiveness. Overarching supplier objective would be: "Milk this customer and charge a high price to compensate for all the painthey put us through".
The buyer should increase its attractiveness to raise the position to Core customer. To do this, a buyer may:
- Simplify procurement processes
- Simplify contracting processes
- Use clear and concise documentation
- Eliminateonerous supplier terms and conditions
- Make the payment on time
- Use transparent processes
- Promote ethical behaviours
LO 1, AC 1.4


NEW QUESTION # 296
Leitax is a consumer electronics firm with headquarters in the US and with a global sales presence. The company maintains seven to nine models in its product portfolio, each of which has multiple SKUs. Product life ranges from fifteen to nine months and is getting shorter. The demand planning and master planning processes at the company were ill-defined. Data relevant to forecasting were usually inaccurate, incomplete, or unavailable and the lack of objectives and monitoring mechanisms for the demand planning process meant that process improvement could not be managed. Support for supply management was equally ill-defined, as master production schedules were sporadic and unreliable and suppliers had learned to mistrust them. Leitax's newly appointedSupply chain director, Jessica realises that the "buy-in" of different functional groups was critical to the improvement of demand planning. She invites relevant stakeholders to a meeting so that they can express their opinions openly. What tactic is Jessica using?

  • A. Pressure
  • B. Coalition
  • C. Persuasion
  • D. Consultation

Answer: B

Explanation:
There are nine commonly used influence tactic:
1. Rational persuasion includes using facts, data, and logical arguments to try to convince others that your point ofview is the best alternative. This is the most commonly applied influence tactic.
2. Legitimating
3. Personal appeals
4. Exchange
5. Ingratiation
6. Pressure refers to exerting undue influence on someone to do what you want or else something undesirable will occur.
7. Coalitions refer to a group of individuals working together toward a common goal to influence others.
8. Inspirational appeals
9. Consultation refers to the influence agent's asking others for help in directly influencing or planning to influence another person or group.
In the scenario, there is a problem with demand forecasting and supply chain planning in Leitax. The new Supply chain director invites the stakeholders to a meeting to find the solution. She is using coalition tactics.


NEW QUESTION # 297
Which of the following are common forms of collaborating approach in Thomas-Kilmann conflict resolution model? Select THREE that apply.

  • A. Resolving some conditions that would otherwise have them competing for resources
  • B. Seeking a quick middle-ground position
  • C. Exploring a disagreement to learn from each other's insights
  • D. Trying to win at any cost
  • E. Yielding to another's point of view
  • F. Trying to find a creative solution to current problem

Answer: A,C,F

Explanation:
:
Collaborating is both assertive and cooperative. When collaborating, an individual attempts to work with the other person to find a solution that fully satisfies the concerns of both. It involves digging into an issue to identify the underlying concerns of the two individuals and to find an alternative that meets both sets of concerns. Collaborating between two persons might take the form of exploring a disagreement to learn from each other's insights, resolving some condition that would otherwise have them competing for resources, or confronting and trying to find a creative solution to an interpersonal problem.


NEW QUESTION # 298
A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?

  • A. The buyer should focus on wider costs and risk elements
  • B. The approach must be collaborative
  • C. There will be only limited negotiation
  • D. There will be regular structured negotiations

Answer: C

Explanation:
With non-critical commodity products, the relationship will be transactional. Buyer should not spend too much time and effort into the negotiation.
LO 1, AC 1.4


NEW QUESTION # 299
When is the best time for buyer to propose the negotiation agenda to potential supplier?

  • A. At testing stage
  • B. At conclusion stage
  • C. At opening stage
  • D. At preparation stage

Answer: D

Explanation:
A business negotiation agenda is a formal agreed upon list of goals to be achieved or items to be discussed in a particular order during a meeting or negotiation. Agendas can be formal and obvious, or informal and subtle in negotiations.
The agenda is one of the main structural elements of negotiation, in addition to such questions as site, identification of participants, and elements of timing. Together, they answer the who, what, when, and where questions. As with other aspects of negotiation, the agenda can be used either manipulatively to enhance leverage or to improve the prospects for agreement and the possibilities for mutual gain. In most cases, it will be used both ways, reflecting the nature of negotiation as a "mixed-motive" situation.
Although it can be instrumental to [research] volunteer as a sole source to write the agenda, in most cases it becomes a joint activity to construct a consensual basis for subsequent negotiation. In these situations, agenda- building becomes one of the pre-negotiation activities that set the tone for the relationship (Saunders, 1985).
In other situations, the parties may engage in actual negotiation without a formal or written agenda. When this occurs, the risks and uncertainties may be high but the party who appreciates the importance of the informal agenda has a tremendous advantage.
Whether one plans it or not, during the course of negotiation the parties will discuss a finite set of issues in some sequence and from a particular perceptual framework. Consciousness of the universality and centrality of the agenda is prerequisite to guiding negotiation to a successful conclusion.
Reference:
CIPS study guide page 146-150
Managing the negotiation agenda | SpringerLink
What is Negotiations Agenda - Negotiation Coaching (brightfocusconsult.com)


NEW QUESTION # 300
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