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To prepare for the CIPS L4M5 Certification Exam, candidates should have a good understanding of the procurement process and negotiation principles. They should also have experience in negotiating contracts and agreements. There are various training programs and resources available to help candidates prepare for the exam, including online courses, study guides, and practice exams. With the CIPS L4M5 Certification, procurement professionals can demonstrate their expertise in commercial negotiation and enhance their career prospects in the field of procurement.

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CIPS L4M5 certification is highly respected in the procurement and supply chain industry and is recognized globally. It demonstrates that the candidate has the knowledge and skills required to conduct successful negotiations with suppliers and vendors. Commercial Negotiation certification is ideal for professionals who are looking to advance their careers in procurement and supply chain management. Employers value this certification as it shows that the candidate has a deep understanding of negotiation principles and can apply them in real-world situations.

CIPS L4M5 Exam is suitable for procurement professionals at all levels, from entry-level buyers to senior procurement executives. It is particularly relevant for individuals who are responsible for managing complex procurement projects, negotiating large-scale contracts, or dealing with high-value purchases. Commercial Negotiation certification is also well-suited for individuals who work in industries where negotiation skills are critical, such as construction, engineering, and manufacturing.

CIPS Commercial Negotiation Sample Questions (Q29-Q34):

NEW QUESTION # 29
Representatives from South African Department of Health is negotiating the price of hospital drugs with US pharmaceutical companies. Which of the following are most likely to be macro factors that influence the outcomes of the negotiation? Select TWO that apply.

A. Forward integration
B. Digitalisation of medicine
C. Regulations on health and safety Switching costs of buyer
D. Order quantity

Answer: B,C

Explanation:
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
Table Description automatically generated

Particularly, pharmaceutical industry is a heavily regulated sector, therefore, legal and regulatory matters in the industry is highly important. Otherwise, technological trends also permeate into pharmaceutical companies, technologies like digitalisation may transform the balance of power in such negotiation.
LO 1, AC 1.3

NEW QUESTION # 30
IHL has beensupplying to XYZ Ltd for months. XYZ Ltd procurement manager Diana realises that the IHL's input prices are dropping and this is a good time to re-negotiate the price of the contract. She invites IHL representative to XYZ headquarter to make a bargain on the current price. At the opening stage of the negotiation, Diana requests a 10% reduction in price with an increase in volume purchased.
Is Diana's action appropriate in the opening phase?

A. No, because Diana has put the markers down too soon
B. No, because Diana should state exactly the increasing quantity
C. Yes, because the negotiation should be done as quick as possible
D. Yes, because Diana's proposal is a fair trade for both parties

Answer: A

Explanation:
The opening stage of the negotiation coversthe very first few minutes when the parties meet and greet each other and are seated in the negotiation room in preparation for the main event.
Typical behaviours at the opening stage: 'dos' and 'don'ts'
Do's
Be punctual and well presented (welcome theirarrival)
Break the ice with small talks
Start the conditioning process
Check authority
Check agenda
Consider using visual aid to set out key objectives or make key points
Don'ts
Use strong, pushy, cold or tough style at the opening
Put down marker at thisstage
Criticise other organisations/TOP's previous contacts/third parties.
In this scenario, Diana has made her proposal right at the opening stage. This is an example of 'don'ts'. Good negotiators are very careful about 'red lines'. If she puts such barrier up too early, the supplier may not try to look for more creative solutions later in the negotiation.

NEW QUESTION # 31
A procurement team has discussed, in advance of a negotiation, what they will do if there is no agreement with the current supplier. They have decided that they will perform the services themselves in-house on a trial basis if no deal is made. Which of the following describes what they have prepared here?

A. Best Alternative to a Negotiated Agreement
B. Walk Away Point
C. The Bargaining Mix
D. Offer of Agreement

Answer: A

NEW QUESTION # 32
In a commercial negotiation, a procurement professional negotiates on his company's behalf. The power of buying organisation is the only factor that influences the behaviours of the other party. Is this assumption true?

A. Yes, because buyer's brand, reputation and purchasing spend largely determine the outcomes
B. Yes, because the outcomes of negotiation are attributable to the buying organisation
C. No, because personal power of negotiators also attributes tothe outcomes
D. No, because power of supplier is the only factor that influences the other party

Answer: C

Explanation:
The assumption is false, because when aprocurement professional negotiates on behalf of his employer, he brings the power of his organisation (its brand, reputation and purchasing spend) as well his own personal power (that which is embedded within him) to the negotiation.
From a negotiation perspective, both organisational and personal power have the ability to influence the behaviours of other or the cause of event. This power is clearly core to negotiation, and of enormous important in seeking to achieve the objectives.

NEW QUESTION # 33
Which of the following are intangible values created by trust in business relationships? Select TWO that apply.

A. Positive feedbacks from customers
B. Frequent conflict escalation
C. Increasing response time to request
D. Higher revenues
E. More focus on core business

Answer: A,E

Explanation:
Trust may create value as following:
LO 1, AC 1.4

NEW QUESTION # 34
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