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L4M5 - Commercial Negotiation - Dump Information

Vendor : CIPS
Exam Code : L4M5
Exam Name : Commercial Negotiation
Questions and Answers : 78 Q & A
Updated On : Click to Check Update
PDF Download Mirror : L4M5 Brain Dump
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L4M5 Questions and Answers

L4M5.html

Question: 68


After studying Thomas-Kilmann conflict resolution model and considering different approaches carefully, the procurement team of XYZ Ltd. decides to adopt an avoiding approach to the upcoming negotiation with one of their suppliers.


Which of the following will be the objective of XYZ procurement team in this negotiation? A . Yielding the supplier’s point of view

B . Postponing the issue

C . Seeking a quick middle-ground position

D . Confronting and trying to find a creative solution immediately


Answer: B Explanation:

Avoiding is unassertive and uncooperative. When avoiding, an individual does not immediately pursue his or her own concerns or those of the other person. He or she does not address the conflict. Avoiding might take the form of diplomatically sidestepping an issue, postponing an issue until a better time, or simply withdrawing from a threatening situation.


LO 1, AC 1.1


Question: 69


Which of the following is the area where two or more negotiating parties may find common ground? A . Zone of potential agreement

B . Zone of proximal development C . Walk away area

D . Best alternative to a negotiated agreement


Answer: A Explanation:

The zone of possible agreement (ZOPA) orbargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party’s ideas.


The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.


There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.


Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed. LO 1, AC 1.2


Question: 70

In a commercial negotiation, a procurement professional believe that the larger the order quantity from buyer, the lower the supplier’s average costs. Is this assumption true?

A . No, because supplier’s average costs will rise as the buyer’s demand increases

B . No, because the supplier may need to invest in new facility to meet buyer’s demand C . Yes, because larger order quantity will bring a considerable profit to supplier

D . Yes, because larger order quantity will always enable the supplier to reach its economy of scale


Answer: B Explanation:

In some markets, suppliers experience peaks and troughs in demand and so buyers can increase their leverage through developing an understanding of how busy their vendor are at particular time during the year or business cycle and targetting atquieter period. Similarly, if a buyer can develop an understanding of supplier capacity and to what extent have they covered their fixed cost, they may be able to target suppliers when their average costs are likely to be lowest. Vendor’s average costs will be higher at low and high capacity utilisation.


image


A picture containing graphical user interface Description automatically generated Question: 71

Which of the following best describes Leverage quadrant in Kraljicmatrix? A . Low risk, high importance

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

D . High complex, low importance


Answer: A Explanation:

In 1983, Peter Kraljic devised a means to segment the supplier base in the article in HBR. In this, heargued 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.


image


Diagram


Description automatically generated

Source: Peter Kraljic, HBR Reference:


Question: 76


During a negotiation, a procurement manager suggests that the two companies should split the difference which would benefit both the supplier and buyer .


Which persuasion method is she using? A . Compromise

B . Threat

C . Good cop/bad cop D . Logic


Answer: A Explanation:

In the scenario, the manager propose to ‘split the difference’, which means each party will accept some of their demands and concede some. This is known as ‘Compromise’. Reference: CIPS study guide page 163-165


Question: 77

To buying organisation, savings can be achieved from different saving levers or tactics . Which of the following are means that deliver savings through optimising specifications?

A . Value engineering

B . Part substitution C . Budgetlinkages

D . Compare total cost of ownership E . Volume pooling


Answer: A,B Explanation:

If driving greater value and efficiency from your supply base is your end, you should remember that there are many ways to do this without seeking to negotiate lowerprices. Below are 7 types of saving levers:


image

Table


Description automatically generated


Question: 78


A supplier’s mark-up on all products is 25%. Supplier’s profit margin is…? A . 20%

B . 30%

C . 75%

D . 15%


image

Answer: A Explanation:


Table


Description automatically generated with medium confidence


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Text


Description automatically generated with low confidence LO 2, AC 2.1


CIPS L4M5 Exam (Commercial Negotiation) Detailed Information

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