CIPS Exam L4M5 Topic 5 Question 61 Discussion

Actual exam question for CIPS's L4M5 exam

Question #: 61
Topic #: 5

[All L4M5 Questions]

Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply.

AContinuous dialogue with supplier

BTotal cost of ownership is the most important criterion

CVendor ratings will be used

DArm's-length approach

EPricing is the most important criterion

Show Suggested Answer

Suggested Answer: B

The following graph shows the factors that shift the supply curve to the left and to the right.

- CIPS study guide page 103

- Principles of Microeconomics 2e, 2017, Open Stax - Rice University.

LO 2, AC 2.2

by Gearldine at May 29, 2024, 07:36 PM

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Kenny

1 days ago

Total cost of ownership? Gotta love when the bean counters take over. I'll just toss in a random number and call it a day.

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Rodrigo

4 days ago

Vendor ratings? I bet the suppliers will love that. Time to bring out the charm offensive!

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Golda

8 days ago

Continuous dialogue with the supplier and an arm's-length approach? Sounds like a tricky balancing act to me.

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Delbert

16 days ago

I believe E is also important, pricing should be a key criterion in negotiation.

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Wynell

22 days ago

I agree with Miles, continuous dialogue with supplier and vendor ratings are important.

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Miles

27 days ago

I think A and C apply.

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