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| Section | Objectives |
|---|---|
| Topic 1: Risk and Value Management | - Managing asset-related risk
|
| Topic 2: Operation and Maintenance | - Asset performance and reliability
|
| Topic 3: Disposal and End-of-Life Management | - Asset disposal strategies
|
| Topic 4: Understanding Asset Management | - Principles of whole life asset management
|
| Topic 5: Asset Acquisition and Procurement | - Sourcing and procurement of assets
|
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NEW QUESTION # 237
A warehouse manager (WM) has been given the task of redesigning the interior layout of the organisation's main storage facility. There are numerous issues with how stock items can be moved around the facility.
There are often delays, items are damaged, and there have been some health and safety incidents. The Issue the WM is trying to resolve is known as ...
Answer: C
NEW QUESTION # 238
Which of the following purchases are most likely to have low acquisition costs? Select TWO that apply.
Answer: A,C
Explanation:
According to L4M7 study guide, acquisition costs in procurement are the costs associated with the activities involved in a purchase. A buying organisation incurs acquisition costs in low-value purchases as well as high- value purchases. The following purchases tend to have lower acquisition costs:
- Straight re-buy from a current supplier
- Purchase of standard catalogued products
Otherwise, any purchases of high value, high-risk items generally require greater attention of buying organisation and thus, they are likely to have higher acquisition costs. Spot purchase of a technically complexed machinery, Purchase of ERP system and Procurement of construction projects are examples of high-value, high-risk purchases.
Reference: CIPS study guide page 148-149
LO 3, AC 3.1
NEW QUESTION # 239
In a manufacturing organization, which of the following explains an 'indirect' stock classification of items?
Answer: A
Explanation:
Indirect stock refers to items that are necessary for the operation of the manufacturing process but are not incorporated into the finished product. Examples include maintenance supplies, office consumables, and tools.
In whole-life asset management, indirect stock management ensures that essential operational items are available without tying up excessive capital in inventory that doesn't contribute directly to production output.
NEW QUESTION # 240
One of the important outputs of an MRP system is the material requirement plan. This plan shows the net requirements for materials or components to make the final product. Which of the following best describes the net material requirements?
Answer: A
Explanation:
The net requirements are worked out using the following equation:
Net requirements = Total requirements - Available inventory
Where:
Total requirements = Gross requirements
Available inventory = Inventory on-hand + Units on-order
In the other words: Net requirements = Gross requirements - Inventory on-hand - Units on-order Inventory on-hand is also known as Inventory level, whereas Units on-order can be called Scheduled receipt.
Reference:
LO 2, AC 2.3
NEW QUESTION # 241
Which of the following can replace pallets as bases for unit loads but they require push pull acces-sories to retrieve or discharge unit load?
Answer: D
Explanation:
The system of slip sheet load handling involves the use of a thin sheet of material, the slip sheet, as a base on which items are assembled as a unit load for handling, storage, and transport. The slip sheet is used in conjunction with a pallet, if desired, at certain stages in the distribution cycle. If all lift trucks in the cycle are equipped with the proper attachment, an appropriate slip sheet is the only material handling base required.
Slip sheet requires special push pull accessories and usually use thin and wide forks.
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Skids are generally described as single-deck pallets and do not have bottom flatted layer which makes them less bulky and cheaper than conventional pallets but also less universal in their use.
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Shrink wrap, also referred to as shrink film or shrink wrap, is a versatile polymer material used for the packaging of finished goods. Heat is applied to the film - by either a conveyor heat tunnel or an electric or gas heat gun - which catalyzes the film to shrink tightly around the item placed within. This process results in a clear, durable barrier of protection around the product.
Post pallets have a simple metal structure with four uprights and substantial feat to take the load. These may be free standing, but many are designed for the feet to interlock with the posts of another post pallet so that the stack can be created.
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NEW QUESTION # 242
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