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L4M5

CIPS CIPS Level 4 Diploma in Procurement and Supply L4M5

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Exam Code:L4M5

Exam Name:Commercial Negotiation

Q&A:163 Q&As

Updated: 04-26-2024

Number:        

Prepare for success in the Commercial Negotiation (L4M5) exam with ExamGood's comprehensive study materials and practice questions. Enhance your knowledge and boost your confidence with expertly designed resources. Get the edge you need to pass the exam.

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Commercial Negotiation (L4M5) 

Module purpose: This module focuses on equipping learners with the skills to identify approaches for successfully achieving negotiated commercial agreements with external organizations in the context of procurement and supply.
Module aim(s): The Commercial Negotiation Diploma in Procurement Supply offered by CIPS focuses on the importance of formalized agreements and equips learners with the skills to effectively negotiate with stakeholders and suppliers. The module covers analyzing negotiation approaches, preparing for negotiations, and utilizing techniques for successful outcomes.
Next steps: Joining a CIPS qualification programme allows you to become a member of the largest Institute for procurement and supply professionals. You can join and book examinations online through their website.

Learning outcomes

1.0 Understand key approaches in the negotiation of commercial agreements with external organisations
1.1 Analyse the application of commercial negotiations inthe work of procurement and supply
1.2 Differentiate between the types of approaches that can be pursued in commercial negotiations
1.3 Explain how the balance of power in commercial negotiations can affect outcomes
1.4 Identify the different types of relationships that impact on commercial negotiations
2.0 Know how to prepare for negotiations with external organisations
2.1 Describe the types of costs and prices in commercial negotiations
2.2 Contrast the economic factors that impact on commercial negotiations
2.3 Analyse criteria that can be used in a commercial negotiation
2.4 Identify the resources required for a negotiation
3.0 Understand how commercial negotiations should be undertaken
3.1 Identify the stages of a commercial negotiation
3.2 Appraise the key methods that can influence the achievement of desired outcomes
3.3 Compare the key communication skills that help achieve desired outcomes
3.4 Analyse how to assess the process and outcomes of negotiations to inform future practice

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