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| Section | Objectives |
|---|---|
| Understand the role of technology in asset management | - Asset tracking and monitoring systems - Data management and analytics - Emerging technologies in asset management |
| Understand inventory control and management | - Demand forecasting and planning - Storage and warehousing principles - Inventory classification and control methods |
| Understand the legal and regulatory requirements | - Health and safety regulations - Contractual and warranty obligations - Environmental and sustainability considerations |
| Understand the concept of whole-life asset management | - Identify key stakeholders in asset management - Explain the whole-life cost approach - Define asset management and its role in procurement |
| Understand the financial aspects of whole-life asset management | - Financial justification and business case development - Budgeting and forecasting for assets - Total cost of ownership calculations |
| Understand the key elements of whole-life asset management | - Disposal and end-of-life considerations - Operation and maintenance planning - Acquisition and procurement strategies |
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NEW QUESTION # 80
Which among the following are the tools for reducing acquisition costs in purchasing?
1. Procurement card
2. Automated Storage & Retrieval System
3. Porter's value chain
4. P2P system
Answer: A
Explanation:
There are several methods to reduce the acquisition costs in procurement. L4M7 study guide lists the following methods:
- Buyer discretionary spend
- 'User buying'
- Vendor managed inventory (VMI)
- Two-bin Kanban
- Product catalogue
- e-Procurement techniques, including some systems such as ERP, procure-to-pay (P2P), e-requisition, e- tendering, etc.
- Procurement cards
Reference: CIPS study guide page 155-156
LO 3, AC 3.1
NEW QUESTION # 81
An organisation might find it more beneficial to lease and use an asset over a predetermined period. After this period, the lessee has the right to secure an outright ownership of the asset by paying an agreed amount; otherwise, the asset would be repossessed by the lessor. Which of the following is an advantage of leasing?
Answer: A
NEW QUESTION # 82
MRP software is applied to schedule which of the following?
Answer: C
Explanation:
Material Requirements Planning (MRP) software manages material requirements for manufacturing processes.
LO 2, AC 2.3
NEW QUESTION # 83
Which component of an RFID device is responsible for sending and receiving radio waves?
Answer: B
Explanation:
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate. RFID Antennas are necessary elements in an RFID system be-cause they convert the RFID reader's signal into RF waves that can be picked up by RFID tags. Without some type of RFID antenna, whether integrated or stand-alone, the RFID reader cannot properly send and receive signals to RFID tags.
Reference:
LO 1, AC 1.2
NEW QUESTION # 84
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 # 85
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