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| Section | Objectives |
|---|---|
| Topic 1: Understand the legal and regulatory requirements | - Health and safety regulations - Contractual and warranty obligations - Environmental and sustainability considerations |
| Topic 2: Understand the role of technology in asset management | - Emerging technologies in asset management - Asset tracking and monitoring systems - Data management and analytics |
| Topic 3: Understand the key elements of whole-life asset management | - Operation and maintenance planning - Acquisition and procurement strategies - Disposal and end-of-life considerations |
| Topic 4: Understand inventory control and management | - Storage and warehousing principles - Inventory classification and control methods - Demand forecasting and planning |
| Topic 5: Understand the concept of whole-life asset management | - Explain the whole-life cost approach - Identify key stakeholders in asset management - Define asset management and its role in procurement |
| Topic 6: Understand the financial aspects of whole-life asset management | - Budgeting and forecasting for assets - Financial justification and business case development - Total cost of ownership calculations |
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NEW QUESTION # 201
U-shape flow layout can utilise handling equipment if the high demands items locate adjacent to shipping docks. Is this statement true?
Answer: B
Explanation:
A 'U' flow occurs when the goods receipt and dispatch functions are located at the same end of a warehouse building.
Products flow in at receiving, move in to storage in the back of the warehouse, and then to shipping, which is located at the adjacent to receiving on the same side of the building.
Items with higher throughput level are located closer to the loading bays. An example of a 'U' flow design can be seen in the diagram below.
Advantages of 'U' Flow
- Excellent utilization of dock resources because the receiving and shipping processes can share dock doors
- Facilitating cross-docking because the receiving and shipping docks are adjacent to one another and may be co-mingled
- Excellent lift truck utilization because put away and retrieval trips are easily combined and be-cause the storage locations closest to the receiving and shipping docks are natural locations to house fast moving items
- Yields excellent security because there is a single side of the building used for entry and exit
NEW QUESTION # 202
Which costs in the following list are categorised as operation costs in the total cost of ownership model?
Select TWO that apply.
Answer: B,D
Explanation:
Costs of operating an asset can widely vary. The following table is an example from Guide to Total Cost of Ownership, New Zealand Government:
NEW QUESTION # 203
Which of the following best describes what happens when order volumes from customers increase and multiply through the supply chain?
Answer: D
Explanation:
The bullwhip effect (or Forrester effect) is a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as one moves further up the supply chain.
Seasonal demand: consumer interest in purchasing particular products only during a specific peri-od within the calendar year.
OPITZ is a coding system used to form Groups in Group Technology philosophy of Manufactur-ing.
The Pareto Curve is the shape created when the bars of a Pareto Chart are progressively summed and the points joined together. The final curve ends at 100% of items in the chart, which means that you can then draw a line across at 80% and 'bounce' it down to find the bar which, when combined with all bars to its left, will give 80% of all items.
Reference:
LO 2, AC 2.3
NEW QUESTION # 204
In order to cover for higher than normal demand and to ensure that stock does not run out. a company may hold buffer stock known as ...
Answer: B
NEW QUESTION # 205
XYZ Inc opens a tender to purchase new forklift trucks for their new established warehouse. In the final round, there are two suppliers remain who offer two different bids. Supplier A's bid has high initial investment. After calculating the net present value, the NPV in year five is positive. On the other hand, supplier B's bid has low purchase price, with the NPV in year five is negative. If the NPV is the sole selection criterion, XYZ Inc should select the bid which has...?
Answer: C
Explanation:
Net present value (NPV) is the 'today' net value that deprives from 'future' cash flow of an invest-ment or a capital purchase. Net Present Value is a helpful tool for assessing the total lifetime value of an investment. Procurement professionals or investors can base on this value to make decision to achieve value for money. Generally, an organisation should select the offer which has the highest NPV among their options. Preferably, the NPV of an capital investment should be positive, which means the investment eventually adds value to the business.
Reference:
LO 3, AC 3.2
NEW QUESTION # 206
......
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