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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | CIPS Whole Life Asset Management |
| Exam Number: | L4M7 |
| Exam Price: | Please check CIPS official website for current pricing |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Duration: | 60 minutes |
| Available Languages: | English |
| Exam Format: | Multiple Choice, Scenario-based, Calculation |
| Passing Score: | Not publicly disclosed (pass/fail only) |
| Real Exam Qty: | 60 |
| Certificate Validity Period: | No expiry (certification requires ongoing CPD) |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Computer-based examination available at CIPS approved centers worldwide. |
| Pre Condition: | Candidates are recommended to have completed CIPS Level 3 or have relevant procurement/supply chain experience. |
| Official Syllabus URL: | https://www.cips.org/qualifications/level-4-advanced-diploma/l4m7-whole-life-asset-management/ |
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CIPS L4M7, also known as the CIPS Whole Life Asset Management Exam, is a comprehensive certification program that focuses on managing and maintaining assets throughout their entire lifecycle. L4M7 exam is specifically designed for procurement professionals, who are responsible for the acquisition, management, and disposal of assets, including property, plant, and equipment.
Asset management is crucial for organizations to optimize asset performance, improve asset efficiency and reduce costs. The CIPS L4M7 Exam is designed to provide candidates with a comprehensive understanding of the principles of asset management, including asset planning, procurement, operation, maintenance, disposal, and replacement. L4M7 exam is structured to cover all aspects of asset management, from planning to disposal, and helps individuals to develop a holistic approach to asset management.
NEW QUESTION # 151
Which of the following are most likely the benefits of using unit loads? Select TWO that apply.
Increase transport time of each item
Answer: B,D
Explanation:
The concept of a unit load is to create a stable and secure, easy-to-move group of stock that is fast to load and unload from vehicles.
The advantages of unit load concepts are as the following:
* More items can be handled at the same time, thereby reducing the number of trips required and, potentially, reducing handling costs, loading and unloading times, and product damage.
* Enables the use of standardized material handling equipment.
Reference: CIPS study guide page 60-61
LO 1, AC 1.3
NEW QUESTION # 152
Earl & Duke Corp has several organisational business goals. One of these goals sets out the need to have a sustainable financial position and promote economic prosperity. This follows the triple bottom line framework. Which one of the framework's elements does this business goal highlight?
Answer: A
NEW QUESTION # 153
The following are examples of scheduled maintenance except...
Answer: A
Explanation:
Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given maintenance tasks are performed and by whom. Scheduled maintenance may occur at repeating intervals or in response to a work request.
"Overhauling of machine" means that the machine is regularly checked and corrupted parts are replaced if needed.
"Cleaning of tank" and "Oil changes" also occur at time intervals as scheduled So the correct answer is "Repair signage damage from a recent storm"
NEW QUESTION # 154
A manufacturing organization has a large volume of raw material stock now viewed as redundant. Which of the following is the most appropriate process for the organization?
Answer: D
Explanation:
Returning redundant stock to the supplier (or selling it) is an effective approach, as it can recover some value and free up warehouse space. This option aligns with whole-life asset management's emphasis on reducing costs associated with unused assets and managing inventory efficiently.
NEW QUESTION # 155
Multiple approval levels for a small purchase request is an example of which type of waste?
Answer: A
Explanation:
Lean thinking aims to remove wastes from work processes. Before diving into the 8 wastes, it is important to understand what waste is. Waste is any action or step in a process that does not add value to the customer. In other words, waste is any process that the customer does not want to pay for.
The original seven wastes (Muda) was developed by Taiichi Ohno, the Chief Engineer at Toyota, as part of the Toyota Production System (TPS). The seven wastes are Transportation, Inventory, Motion, Waiting, Overproduction, Overprocessing and Defects. They are often referred to by the acronym 'TIMWOOD'. The
8th waste of non-utilized talent or 'Skills' of workers was later introduced in the 1990s when the Toyota Production System was adopted in the Western world. As a result, the 8 wastes are commonly referred to as
'TIMWOODS'.
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Source: The lean way
Multiple approval levels for a small purchase request is an example of over-processing since this adds more unnecessary work to users and procurement professionals.
NEW QUESTION # 156
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