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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Sustainability, Ethics and Governance in Asset Management | 15% | - Ethical and responsible sourcing of assets - Governance, standards and regulatory frameworks - Sustainable asset management and ESG principles - Circular economy and asset lifecycle sustainability |
| Topic 2: Asset Operation, Maintenance and Performance | 25% | - Inventory and spare parts management - Asset utilization and performance monitoring - Asset reliability, availability and risk management - Compliance, health, safety and environmental requirements - Maintenance strategies: preventive, corrective, predictive |
| Topic 3: Asset Disposal and End-of-Life Management | 15% | - Environmental and legal obligations in disposal - Disposal options: sell, reuse, recycle, donate, scrap - Data management and asset record keeping - Asset valuation and residual value calculation |
| Topic 4: Principles of Whole Life Asset Management | 20% | - Role and contribution of procurement in asset management - Asset lifecycle stages: planning, acquisition, operation, maintenance, disposal - Definition, scope and importance of asset management - Value creation and whole life value concepts |
| Topic 5: Asset Planning and Acquisition | 25% | - Options appraisal: buy, lease, rent, outsource, in-house - Whole life costing and total cost of ownership - Procurement processes for capital assets - Contract types and supplier selection for assets - Asset requirements definition and specification |
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NEW QUESTION # 119
Manufacturing resources planning (MRP II) was developed from material requirement planning (MRP).
Which of the following is the additional input that is available in MRP II but does not ap-pear in MRP?
Answer: C
Explanation:
MRP I was some of the first business software to be widely adopted during the 1970s. Manufacturers sought these systems in order to improve efficiency and accuracy when it came to basic processes such as production scheduling and inventory management.
By the 1980s, manufacturers realized they needed software that could also tie into their accounting systems and forecast inventory requirements. Enter MRP II, which included these integrations in addition to all the capabilities offered by MRP I. Enterprise resource planning (ERP) software features-which we'll cover later on-are included in the following table for comparison.
Graphical user interface Description automatically generated
NEW QUESTION # 120
Objective forecasting techniques must be based on which of the following?
1. Opinions
2. Figures
3. Facts
4. Jugdement
Answer: A
Explanation:
Subjective forecasting uses qualitative methods (surveys, opinions) which relay on perception and opinion.
Objective forecasting uses quantitative methods (facts and figures). Both methods have to make assumption about how closely (or not) the future will resemble the present and the past. Forecasting is never exact.
Reference: CIPS study guide page 111-112
LO 2, AC 2.3
NEW QUESTION # 121
Which of the following are most likely to be direct benefits of applying RFID technology? Select TWO that apply
Answer: D,E
Explanation:
RFID tags are the small devices that can be embedded in labels or attached to tags which work with radio transmitters and/or receivers to identify themselves.
RFID tags can be used to do the following:
- Track individual items
- Track boxes of products, cages of products and pallets
- Track containers with multiple loads
- Locate equipment within a building
- Trigger alarms should equipment or stock be removed without authorisation.
RFID devices have a very small integrated circuit incorporating a small memory capability - many are smaller than 2mm square and 2mm thick. Despite its size, many can hold 2000 characters of data.
RFID operating rage depends on the radio frequency used, receiver capability and the environment. Some tags are only readable from under 1m, others can have a 100m range.
RFID tags and labels are very specific to the type of material and size of your assets. For example, metal will deactivate the RFID antenna and the tag will not transmit at all. Using RFID on metal requires a special type of tag with an RFID block to prevent interference with the antenna. Liquid products can also affect the reliability of the RFID signal. To use RFID tags in specific environ-ments, some technologies are needed to support them.
NEW QUESTION # 122
'The main consideration in designing the layout of a warehouse is the size of the storage space utilized.' Is this statement TRUE?
Answer: D
Explanation:
While storage space is important, traffic flow and accessibility are crucial for efficient warehouse design.
Proper layout ensures safe, quick movement of goods and minimizes bottlenecks, reducing operational costs and enhancing efficiency. In whole-life asset management, effective space utilization and efficient layout planning are key for long-term warehouse performance.
NEW QUESTION # 123
Which is the best definition of reorder point?
Answer: D
Explanation:
Reorder point is the point either in time or in a process when the next order should be placed.
Reference:
LO 2, AC 2.3
NEW QUESTION # 124
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