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CIPS L4M7 Certification Exam is a comprehensive exam that covers a wide range of topics related to asset management, including asset planning, acquisition, maintenance, disposal, and performance management. L4M7 exam is designed to test the skills and knowledge required to effectively manage assets throughout their entire life cycle.
The CIPS L4M7 Exam is designed for those who are looking to take their career to the next level and gain a competitive edge in the industry. The CIPS L4M7 exam covers a range of topics including asset identification, classification, valuation, maintenance, and disposal. These topics are essential for anyone looking to become an asset management professional.
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To be eligible for the CIPS L4M7 certification exam, candidates must have a minimum of two years of experience in procurement or supply chain management. They must also have completed the CIPS Level 4 Diploma in Procurement and Supply or an equivalent qualification. L4M7 Exam is available in both paper-based and computer-based formats, and candidates have three hours to complete the exam.
NEW QUESTION # 49
For which of the following is the 'delphi method' used?
Answer: B
Explanation:
Delphi method is a structured forecasting technique using a panel of experts and a number of rounds of questioning. Responses are shared after each round and the experts encouraged to recon-sider their own responses. It is intended to achieve a consensus view.
Reference:
LO 2, AC 2.3
NEW QUESTION # 50
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: D
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 questions does appear in the real exam. To answer the question, students should imagine the situation.
Reference: CIPS study guide page 11-13
LO 1, AC 1.1
NEW QUESTION # 51
Can RFID tags work when they are attached to metal surfaces or embedded within metal products?
Answer: C
Explanation:
Mounting or embedding RFID tags on metal can be tricky. Metal surfaces reflect energy emitted from RFID readers and create interference for RFID tag antennas, which means the tag isn't able to receive power and transmit information; however, specific RFID tags will work around metal sur-faces. RFID companies have patented technology that allows RFID to work when attached to metal surfaces and even embedded within metal products. As long as you choose the correct RFID equipment for your environment and application, you won't need to worry about interference from metal.
Reference:
LO 1, AC 1.2
NEW QUESTION # 52
Which of the following are the different types of inventory that a manufacturing company usually has?
1. Work in progress
2. Economic order quantity
3. Raw materials
4. Finished goods
Answer: B
Explanation:
The normal breakdown in a manufacturing organisation would be raw materials, components, work in progress and finished goods.
Following are the different types of inventory:
Raw materials are the basic materials that a manufacturing company buys from its suppliers, and that is used by the former to convert them into the final products by applying a set of manufacturing processes. For example, aluminum scrap is the raw material for a company that produces aluminum ingots. Flour is the raw material for a company that produces bread or pizza. Similarly, metal parts and ingots are the raw materials bought by a company that manufactures cars, and crude oil is the raw material for an oil refinery.
Work in progress inventory can also be called semi-finished goods. They are the raw materials that have been taken out of the raw materials store and are now undergoing the process of their conversion into the final products. These are the partly processed raw materials lying on the production floor. And they have also not reached the stage where they have been converted into the final product.
Finished goods are indeed the final products obtained after the application of the manufacturing processes on the raw materials and the semi-finished goods discussed above in the article. They are saleable, and their sale contributes fully to the revenue from the core operations of the company.
NEW QUESTION # 53
What are the contents of master production schedule in MRP system?
Answer: B
Explanation:
A master production schedule (MPS) is a plan for individual commodities to be produced in each time period such as production, staffing, inventory, etc.[1] It is usually linked to manufacturing where the plan indicates when and how much of each product will be demanded.[2] This plan quantifies significant processes, parts, and other resources in order to optimize production, to identify bottlenecks, and to anticipate needs and completed goods. Since a MPS drives much factory activity, its accuracy and viability dramatically affect profitability. Typical MPSs are created by software with user tweaking.
Reference:
LO 2, AC 2.3
NEW QUESTION # 54
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