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The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that focuses on promoting excellence in procurement and supply chain management. The CIPS L4M7 (CIPS Whole Life Asset Management) certification exam is designed to test the knowledge and understanding of professionals who are involved in the management of physical assets throughout their entire life cycle. CIPS Whole Life Asset Management certification is ideal for individuals who are seeking to enhance their skills and knowledge in the field of asset management.
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CIPS L4M7 Exam is an important certification for professionals in the field of asset management. L4M7 exam is designed to test the knowledge and understanding of whole life asset management principles and practices. It covers a range of topics including sustainability, risk management, maintenance, and replacement management.
NEW QUESTION # 19
Radio Frequency Identification (RFID) is an electronic technology that transmits data from tagged items.
What are the advantages of RFID technology? SelectTWOthat apply.
Answer: D,E
NEW QUESTION # 20
A restaurant needs to buy a new freezer. The owner applies total cost of ownership model to calcu-late the life- time cost of the freezer. This equipment has a price tag of $1,000, the supplier can offer freedelivery if the restaurant pays off immediately. Estimated electricity consumption of the freezer is $200 in 5 years. The supplier ascertains that the freezer is very durable, buyer doesn't need to care about maintenance costs.
However, if the restaurant needs better protection from breakdowns, the warranty is free for the first 12 months after the purchase. This warranty package can be extended once for another 24-month period with the cost of $75. After 5 years, the buyer will be able to resell this freezer for $250. What would be the estimated total cost of ownership of this freezer if the restaurant owner buys the extended warranty package?
Answer: D
Explanation:
The total cost of ownership would be the sum of all estimated costs.
The costs are as the following:
- Purchase price: $1,000
- Electricity consumption: $200
- Extended warranty: $75
Total expense = $1,000 + $200 +$75 = $1,275. Then subtract the resale price from this sum, the total cost of ownership is $1,025.
NEW QUESTION # 21
Which of the following are features of product codes?
1. Product codes link to products' characteristics
2. A product code must comply with international standards
3. Many internal processes use the product codes as facilitators
4. There are no duplicate product codes
Answer: A
Explanation:
The product code is often the key to obtaining documentation relating to products.
Product codes are often use to link to internal processes. Some computerised inventory systems trigger alerts when specific items or volume are ordered - this could be an out-of-stock warning or potential volume errors.
In many cases, an organisation will use its own product code system. The organisation constructs a code that is effective and fits with its software and the variety of items covered. So these codes may or may not comply with any international standards (such as GS1 specifications, ISO standards, etc.). As organisations make up the code themselves, the codes may look identical to others. For example, SKU414675 reveals that it is used for many items, including the following:
- A UK wholesaler's six-pack of branded cola
- An Australian snack food
- UK flower seeds
- An Italian desk sold in Japan
- A Brazilian light fitting
NEW QUESTION # 22
Which of the following best defines 'exponential moving average'?
Answer: B
Explanation:
An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average (SMA), which applies an equal weight to all observations in the period.
Reference: CIPS study guide page 111-112
LO 2, AC 2.3
NEW QUESTION # 23
A logistics company has a 2-story warehouse in the suburban area. The goods receiving area and dispatch area are located on the ground floor only. There is a lift connecting the two floors. The daily operations of the warehouse are quite busy. Which of the following would the best arrangement for this warehouse?
Answer: B
Explanation:
The purposes of a warehouse are to keep the inventories in good condition and to ensure that the operations is smooth. In the scenario, the warehouse has 2 stories, with goods-in and goods-out areas located on the ground floor and a lift connecting the stories. The lift could become a bottleneck if the goods inside the warehouse are not well-arranged.
Since the lift is often small with limited load capacity, putting heavy bulk items on the first floor will cause bottleneck and increase the chance of accidents. Therefore, palletised items (even they have low-usage) should be placed on the ground floor. Smaller and lighter items should be stored on the first floor.
This question does appear in the real exam. To answer the question, students should imagine the situation.
NEW QUESTION # 24
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