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CIPS L4M5 (Commercial Negotiation) Exam is an essential certification for anyone seeking to advance their career in procurement and supply chain management. L4M5 exam is designed to test the candidate's understanding of the key principles and techniques used in commercial negotiation, including strategies for managing different negotiation scenarios and dealing with difficult situations. Commercial Negotiation certification is highly sought after by recruiters and employers looking for candidates with strong negotiation skills, as it demonstrates a solid understanding of how to successfully negotiate complex commercial deals.

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CIPS Commercial Negotiation Sample Questions (Q105-Q110):

NEW QUESTION # 105
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

Answer: C

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.
Reference: CIPS study guide page 80-81
LO 2, AC 2.1


NEW QUESTION # 106
Power is used only in adversarial negotiation situations to secure a 'win' outcome against the other side. Is this statement correct?

Answer: C


NEW QUESTION # 107
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?

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 # 108
A building firm has been awarded a contract to build a new office block, and the building firm needs to separate its direct and indirect costs.
Which one of the following is a direct cost to the building of the new office block?

Answer: A


NEW QUESTION # 109
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?

Answer: B

Explanation:
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
There are four major factors to consider when determining the bargaining power of buyers:
1. Number of buyers relative to suppliers: If the number of buyers is small relative to that of suppliers, the buyer's power will be stronger.
2. Dependence of a buyer's purchase on a particular supplier: If a buyer is able to get similar products
/services from other suppliers, buyers depend less on a particular supplier. Therefore, the power of the buyer would be greater.
3. Switching costs: If there are not many alternative suppliers available, the cost of switching is high.
Therefore, buyer power would be low.
4. Backward Integration: If the buyer is able to integrate or merge suppliers, the buyer has greater bargaining power over the existing suppliers.
When is Bargaining Power of Buyers High/Strong?
There are fewer buyers relative to that of suppliers
The switching costs of the buyer are low
If the buyer is able to backward integrate
The buyer purchases product in bulk (high volume)
The buyer is able to get similar product/services from other suppliers
The buyer purchases the majority of the seller's products
Several substitutes are available on the market
Product is not differentiated
Reference:
CIPS study guide page 54-56
What is the Bargaining Power of Buyers?


NEW QUESTION # 110
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