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CIPS L4M7 is the Whole Life Asset Management certification exam offered by the Chartered Institute of Procurement and Supply (CIPS). CIPS Whole Life Asset Management certification is designed to equip procurement and supply chain professionals with the knowledge and skills required to effectively manage assets throughout their entire lifecycle. Asset management is a growing field, and organizations are increasingly looking for professionals who can optimize asset performance and minimize costs through effective management strategies.
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The CIPS Whole Life Asset Management certification process for the CIPS L4M7 exam involves passing a rigorous assessment, which includes a written exam and a practical assessment. Students who pass the assessment are awarded the CIPS Level 4 Certificate in Procurement and Supply. CIPS Whole Life Asset Management certification is recognized internationally and is highly valued by employers looking for procurement professionals with this level of expertise.
CIPS L4M7 (CIPS Whole Life Asset Management) Exam is a globally recognized certification program designed for professionals who want to develop their skills and knowledge in the field of asset management. CIPS Whole Life Asset Management certification program is specifically designed for individuals who work in the public and private sectors, and who are responsible for managing assets throughout their entire lifecycle. The CIPS L4M7 Exam covers a wide range of topics, including asset management strategies, planning, design, construction, operation, maintenance, and disposal. The program is ideal for professionals who want to enhance their skills and knowledge in asset management and take their career to the next level.
NEW QUESTION # 61
Which of the following are essential aspects that are required for the successful implementation of Just-In- Time (JIT)? SelectTWOthat apply.
Answer: B,E
NEW QUESTION # 62
A company does not have enough space to hold inventory to satisfy an external foreign market. Therefore, the board of directors has decided that the company would buy stock in bulk and pay a fee for storage to a third- party warehouse provider local to the foreign market. This would allow the company to focus on other aspects of the business. The stock will be called off as and when required. Which of the following strategies is being pursued by this company?
Answer: A
Explanation:
Outsourcing involves contracting a third party to manage storage or logistics functions, which allows the company to concentrate on core business activities. In this case, outsourcing the warehousing needs aligns with whole-life asset management, as it optimizes resources and mitigates the challenges of limited storage capacity.
NEW QUESTION # 63
Which of the following is the material handling equipment which uses the suction force to lift an item?
Answer: B
Explanation:
VACUUM LIFTER uses the vacuum pad which attaches itself to a product. The suction force al-lows the product to be lifted (and rotated and placed). Vacuum lifters are used for moving and positioning glass sheets, but are also seen lifting boxes, plastic sacks, sheets of building materials and pipework. Some models feature hydraulic arms which allow easy movement of the lifted load. The lifting system will have a number of sucker pads and vacuum capability which determines the maximum weights and largest items that can be lifted.
DOLLY consists of stack and sets of wheels (either casters or rollers) under the stack that allow the dolly and the heavy object on top of it to move easily and smoothly. For moving in a straight line, rollers is ideal. If you want to move manoeuvrability, dolly with sets of casters will let you swivel and turn.
SACK TRUCK (hand truck) is an L-shaped box-moving handcart. It comprises a small base plat-form with two wheels at the base and a larger vertical structure. A small ledge to set objects on flat against the floor when the sack truck is upright. When moving, the truck and object are then tilted backward based on the vertical structure until the weight is balanced over the large wheels, making otherwise bulky and heavy objects easier to move.
PALLET STACKER is designed to lift and stack pallets. This one is fully mobile so can move easily around the warehouse. An operator would typically sit or stand while driving like a counter-balanced, reach or straddle lift truck.
LO 1, AC 1.3
NEW QUESTION # 64
MRP system is the most suitable IT system to manage which type of items?
Answer: C
Explanation:
Material requirement planning (MRP) is a production planning and material (inventory) control system used in manufacturing. Objectives of MRP are to ensure materials are available for production while minimising inventory and to plan production and procurement activities.
Bill of materials (BOM) is an important component of MRP. BOM is also known as product struc-turer. This lists all the items that comprise each assembly and sub-assembly that make up the final product or end item.
Therefore, MRP is commonly used to manage dependent demand stock.
NEW QUESTION # 65
What is meant by the term 'obsolete stock'?
Answer: C
Explanation:
Obsolescent stock is stock, usually finished goods, which is in good condition and satisfactory working but for which demand is irreversibly falling towards zero. Once this demand reaches zero the stock can be considered 'obsolete'. It cannot be used or sold in its current state. Food ingredients (like candy canes) which are out of date are another example.
Reference: CIPS study guide page 86-88
LO 2, AC 2.1
NEW QUESTION # 66
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