CIPS Commercial Negotiation : L4M5 valid dumps

L4M5 real exams

Exam Code: L4M5

Exam Name: Commercial Negotiation

Updated: Nov 10, 2024

Q & A: 165 Questions and Answers

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CIPS L4M5 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Costing methods such as absorption, marginal or variable and activity based costing
  • Know how to prepare for negotiations with external organisations
Topic 2
  • Analyse the application of commercial negotiations in the work of procurement and supply
  • Negotiation in relation to the stages of the sourcing process
Topic 3
  • Organisational power: comparing the relative power of purchasers and suppliers
  • Explain how the balance of power in commercial negotiations can affect outcomes
Topic 4
  • How behaviours should change during the different stages of a negotiation
  • Compare the key communication skills that help achieve desired outcomes
Topic 5
  • Identify the different types of relationships that impact on commercial negotiations
  • Pragmatic and principled styles of negotiation
Topic 6
  • Setting targets and creating a best alternative to a negotiated agreement (BATNA)
  • Collaborative win-win integrative approaches to negotiations
Topic 7
  • How purchasers can improve leverage with suppliers
  • The importance of power in commercial negotiations
Topic 8
  • Building relationships based on reputation, and trust
  • Repairing a relationship
  • The relationship spectrum
Topic 9
  • Setting objectives and defining the variables for a commercial negotiation
  • Use of telephone, teleconferencing or web based meetings

Reference: https://www.cips.org/learn/qualifications/diploma-in-procurement-and-supply/commercial-negotiation-l4m5/

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