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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Exam Duration: | 90 minutes |
| Exam Price: | ยฃ140 - ยฃ180 (varies by region, member/non-member) |
| Certificate Validity Period: | Valid for 3 years after certification |
| Available Languages: | Spanish, French, Portuguese, Italian, Chinese, German, English |
| Passing Score: | 70% |
| Exam Format: | Objective response format, Multiple-choice questions |
| Related Certifications: | Level 3 Advanced Certificate in Procurement and Supply Operations Level 5 Advanced Diploma in Procurement and Supply |
| Real Exam Qty: | 60 |
| Recommended Training: | L4M7 Official Study Guide CIPS Accredited Training Providers |
| Exam Registration: | CIPS Official Exam Booking |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Online remote proctored or in-person at approved test centres |
| Pre Condition: | No mandatory prerequisites; recommended for learners with Level 3 qualification or relevant work experience |
| Official Syllabus URL: | https://www.cips.org/exam-booking/l4m7-whole-life-asset-management-core |
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CIPS L4M7 exam is a challenging and comprehensive test that requires a deep understanding of asset management principles and practices. As such, candidates must have a solid understanding of asset management principles and practices to pass the exam. L4M7 exam is ideal for professionals who work in the field of asset management, including asset managers, maintenance managers, and project managers. It is also suitable for individuals who are looking to start a career in asset management or to enhance their existing skills and knowledge in this field. Passing the CIPS L4M7 Exam is a significant achievement that can help professionals to advance their careers and to demonstrate their expertise in asset management.
NEW QUESTION # 245
Which of the following statements is true of just-in-time (JIT) purchasing?
Answer: C
Explanation:
Just-in-time (JIT) purchasing is a systems approach for developing and operating the purchasing function. JIT purchasing along with the total quality management in many industries has been suc-cessful in reducing inventory and increasing the overall effectiveness of purchasing function and hence the productivity of manufacturing.
The just-in-time objectives of eliminating waste can be summarised in the 'five zeros: zero defects, zero set-up times, zero inventories, zero handling and zero lead times.
The correct answer should be 'In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales' because it expresses that upstream activity (purchasing) only occurs as the downstream activity (production or sales) triggers.
NEW QUESTION # 246
Which of the following are recognised as disadvantages of ERP systems? Select TWO that apply.
Answer: A,C
Explanation:
Implementing a full ERP system is not an easy option. They are complex systems and the disad-vantages include the following:
- The installation of the ERP system is costly. ERP consultants are very expensive take approxi-mately 60% of the budget.
- The success depends on the skills and experience of the workforce, including education and how to make the system work properly.
- Resistance in sharing internal information between departments can reduce the efficiency of the software.
- The systems can be difficult to use.
- Change of staff, companies can employ administrators who are not trained to manage the ERP system of the employing company, proposing changes in business practices that are not synchro-nized with the system.
- Having an ERP system has many advantages, but does not guarantee the total success of the company.
Organizational culture, know how to involve staff and anticipate changes that will suffer the organization using this system of administration, are important elements for the completion of the implementation.
- The effectiveness of the ERP system may decrease if there is resistance to share information be-tween business units or departments. Due to strong changes that implementation of the ERP system brings in the culture of work, there may be poorly trained or disinterested in making use of the same staff...
- The benefits of having an ERP system are not presented immediately with the implementation of the software, they will be evident long after the system is running.
- The culmination of the implementation depends on the ability and skill of the workforce, also involves education and training, to make the system is correctly applied.
NEW QUESTION # 247
Which of the following is the correct statement about total ordering cost?
Answer: D
Explanation:
Typically, ordering costs include expenses for a purchase order, labor costs for the inspection of goods received, labor costs for placing the goods received in stock, labor costs for issuing a supplier's invoice and labor costs for issuing a supplier payment. These costs are irrelevant from the size of the order and are incurred every time a firm places an order.
The total ordering cost will be equal to ordering cost per order multiply with number of orders.
Reference:
LO 2, AC 2.2
NEW QUESTION # 248
To improve the security of a warehouse, alarm systems are commonly used. Which of the following is an important part of these systems?
Answer: C
Explanation:
The most basic alarm consists of one or more sensors to detect intruders, and an alerting device to indicate the intrusion. However, a typical premises security alarm employs the following compo-nents:
- Premises control unit (PCU), Alarm Control Panel (ACP), or simply panel: The "brain" of the system, it reads sensor inputs, tracks arm/disarm status, and signals intrusions. In modern system, this is typically one or more computer circuit boards inside a metal enclosure, along with a power supply.
- Sensors: Devices which detect intrusions. Sensors may be placed at the perimeter of the protected area, within it, or both. Sensors can detect intruders by a variety of methods, such as monitoring doorsand windows for opening, or by monitoring unoccupied interiors for motions, sound, vibration, or other disturbances.
- Alerting devices: These indicate an alarm condition. Most commonly, these are bells, sirens, and/or flashing lights. Alerting devices serve the dual purposes of warning occupants of intrusion, and potentially scaring off burglars. These devices may also be used to warn occupants of a fire or smoke condition.
- Keypads: Small devices, typically wall-mounted, which function as the human-machine interface to the system. In addition to buttons, keypads typically feature indicator lights, a small multi-character display, or both.etc.
- Interconnections between components. This may consist of direct wiring to the control unit, or wireless links with local power supplies.
In addition to the system itself, security alarms are often coupled with a monitoring service. In the event of an alarm, the premises control unit contacts a central monitoring station. Operators at the station see the signal and take appropriate action, such as contacting property owners, notifying police, or dispatching private security forces. Such signals may be transmitted via dedicated alarm circuits, telephone lines, or the internet.
NEW QUESTION # 249
Wasteland Inc. is a company that is trying to become a more sustainableorganisation. It has adopted the triple bottom line principles to ensure that its actions do not harm future generations. Which of the following is one of the pillars of sustainabillty used in this framework?
Answer: C
NEW QUESTION # 250
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