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Exam L4M5 Simulations | Dumps L4M5 Discount

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CIPS L4M5 Commercial Negotiation exam is designed for professionals who are seeking to advance their careers in procurement and supply chain management. L4M5 exam is a comprehensive assessment of knowledge on the concepts of commercial negotiation, contract management, and communicating, which enables procurement professionals to have a complete comprehension of the various strategies they can use to negotiate successfully. Leading experts who have been successful in various procurement and supply chain management fields have contributed to the development of the L4M5 exam to provide practical and effective strategies to tackle complex procurement negotiations.

CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for professionals who are involved in procurement, supply chain management, sales, and contract management. Commercial Negotiation certification is particularly useful for those who are responsible for negotiating contracts, pricing, and terms of service. By gaining this certification, you will be able to enhance your skills and knowledge in commercial negotiation, which will enable you to negotiate more effectively and achieve better outcomes for your organization.

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You can even print the study material and save it in your smart devices to study anywhere and pass the Commercial Negotiation (L4M5) certification exam. The second format, by PassTestking, is a web-based Commercial Negotiation (L4M5) practice exam that can be accessed online through browsers like Firefox, Google Chrome, Safari, and Microsoft Edge. You don't need to download or install any excessive plugins or Software to use the web-based software.

To prepare for the CIPS L4M5 (Commercial Negotiation) Exam, candidates should have a good understanding of the procurement process and the various stages involved in commercial negotiation. It is also essential to have strong communication skills, as negotiation is all about effective communication and building relationships. Candidates can access study materials and resources provided by CIPS, including study texts, revision guides, and practice exams. By passing the CIPS L4M5 (Commercial Negotiation) Exam, procurement professionals can demonstrate their expertise in commercial negotiation and enhance their career prospects.

CIPS Commercial Negotiation Sample Questions (Q235-Q240):

NEW QUESTION # 235
Which of the following are most likely to beindirect costs of a garment manufacturer? Select THREE that apply.

A. Utilities
B. Zips pads
C. Depreciation of machinery
D. Maintenance materials
E. Packaging material
F. Textile

Answer: A,C,D

Explanation:
Indirect costs are those cost that are not directly attributable to production. Examples of indirect costs including the following:
Indirect labour: This covers every person in the factory who does not directly perform a production operation such as managers, supervisors, engineers, store personnel,clerks, maintenance staff, porters, canteen staff, security and cleaners etc.
Expenses: Included in this element is every fixed and variable expenses incurred in operating the factory, such as rent, rates, utilities, insurance, depreciation, maintenance, air conditioning and the various types of energy generation required by a clothing factory.
Indirect materials: Also known as consumables, this element contains all the materials not directly connected to the makeup of a garment. Some of the typical items involved are office materials, spare parts, marker paper, maintenance materials, chalk & pins.
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costs including the following:
Direct Materials: Direct materials are all the materials and trimmings which go into the construction and finish of the garment. Typically, these materials would include cloth, lining, fusible, zips pads, tapes, labels, tickets, hangers and packaging materials.
Direct Labour: This cover the cost of all the labor directly involved in producing the garment and could include cutting, fusing, regular sewing, special machine operations, pressing, finishing, inspection and packing. Labor of all types and grade has a directoverhead which include holiday pay, sick pay, fringe benefits etc and the statutory payments made by the employer for each employee. This is usually expressed as a percentage of salary and when this percentage is added to the employee's wage, it becomes the basis for calculating direct labor costs.

NEW QUESTION # 236
During a negotiation, the supplier requests for payment term shortened to 45 days from 60 days. Seeing that this proposal lies within the concession plan, the procurement manager asks for 5% discount in return. Is that right thing to do?

A. Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status
B. No, procurement should insist the payment term remains 60 days
C. Yes, the procurement manager should keep that 5% for himself because that amount is a fair compensation for his effort
D. No, it is unethical to exploit the weakness of the other party

Answer: A

Explanation:
When preparing for a negotiation, negotiator should establish a list of tradeables and a concession plan. Good negotiators never give anything away that has not already been planned as part of the bargaining mix in the concession planning stage.
In the above scenario, the procurement manager has planned his own concession, so he can trade with supplier. The answer should be "Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status" LO 2, AC 2.3

NEW QUESTION # 237
Which of the following will shift the supply curve to the right?

A. Decreased market price of substitute products
B. Changes in customer taste
C. New disruptive technology
D. Increasedcustomers' disposable income

Answer: C

Explanation:
Explanation
The following graph shows the factors that shift the supply curve to the left and to the right.
Diagram Description automatically generated with medium confidence

NEW QUESTION # 238
Which of the following are most likely to harm trust between buyer and supplier in a commercial relationship?
Select TWO that apply.

A. Subjective assessment of performance
B. Avoidance of submitting important documentations
C. Resolving some conditions that would otherwise have them competing for resources
D. Reduced response time during contract performance
E. Exploring a disagreement to learn from each other's insights

Answer: A,B

Explanation:
Explanation
Trust-destroying behaviours:
- Rumours of partnership or relationship breaking down
- Emotion-based assessment of performance
- Avoiding accountability, passing the blame to others
- General mood - resentment, distrust,frustration, etc
LO 1, AC 1.4

NEW QUESTION # 239
Collaborative approach in negotiation not only can fully satisfies the concerns of both, but also ensure that neither party will seek to be opportunistic in later time during the life of the contract. Is this statement true?

A. Yes, because all parties must have exactly the same goals in integrative negotiation
B. Yes, because both parties have well understood each other's goals when they engage in collaborative negotiation
C. No, because any party may leverage its own advantage during the contract
D. No, because the parties will always find a compromise solution in integrative approach

Answer: C

Explanation:
Integrative, interest-based negotiation can facilitate constructive, positive relationship and establish contracts between parties on a foundation of goodwill. It is important to note it can only facilitate these positive outcomes, it does not guarantee that the other party will not seek to be opportunistic at a later time during the life of the contract. Previous knowledge of the behaviours of the other party regarding honouring contractual and other commitments will be useful here in predicting long-term outcomes, not ensuring that they will not leverage their advantages.

NEW QUESTION # 240
......

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