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| Section | Objectives |
|---|---|
| Understand the key elements of whole-life asset management | - Disposal and end-of-life considerations - Operation and maintenance planning - Acquisition and procurement strategies |
| Understand the role of technology in asset management | - Emerging technologies in asset management - Asset tracking and monitoring systems - Data management and analytics |
| 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 |
| Understand inventory control and management | - Demand forecasting and planning - Storage and warehousing principles - Inventory classification and control methods |
| Understand the legal and regulatory requirements | - Health and safety regulations - Environmental and sustainability considerations - Contractual and warranty obligations |
| Understand the concept of whole-life asset management | - Explain the whole-life cost approach - Define asset management and its role in procurement - Identify key stakeholders in asset management |
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NEW QUESTION # 232
Which is the best definition of reorder point?
Answer: A
Explanation:
Reorder point is the point either in time or in a process when the next order should be placed.
Reference:
LO 2, AC 2.3
NEW QUESTION # 233
International Standard Book Number (ISBN) is a unique international identification system for each product form or edition of a monographic publication published or produced by a specific publisher. ISBN is an example of...?
Answer: C
Explanation:
The International Standard Book Number (ISBN) is a numeric commercial book identifier which is intended to be unique. Publishers purchase ISBNs from an affiliate of the International ISBN Agency. ISBN is standardised by ISO 2108:2017. ISBN is an example of industry standard code as it applies to commercial books around the world.
Check digits are additional numbers or characters added to codes that a computer uses to verify the number is valid. The intention is to reduce the likelihood of miskeying an item and hitting an alternative live item. More often, a system is devised which a computer can calculate using combination of numbers.
Own product code system: an organisation will use its own product code system. This has the ad-vantage that the organisation can construct a code that is effective and fits with its software and variety of items covered.
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries.
NEW QUESTION # 234
Which of the following refer to material used for filling the void left in the box but they have poor environmental profile?
Answer: D
Explanation:
Void filling is the general term giving to the challenge of filling the space left in a box after the products have been packed. This means that if there is no void filling material, the product inside can move around and could be damaged. Materials to fill voids to secure contents
* Polystyrene (PS) is a synthetic aromatic hydrocarbon polymer made from the monomer known as styrene.
[5] Polystyrene can be solid or foamed. General-purpose polystyrene is clear, hard, and rather brittle. It is an inexpensive resin per unit weight. It is a rather poor barrier to oxygen and water vapour and has a relatively low melting point.[6] Polystyrene is one of the most widely used plastics, the scale of its production being several million tonnes per year.[7] Polystyrene can be naturally transparent, but can be coloured with colourants. Uses include protective packaging (such as packing peanuts and CD and DVD cases), containers, lids, bottles, trays, tum-blers, disposable cutlery[6] and in the making of models. Polystyrene is generally considered to be non-biodegradable. However, certain organisms are able to degrade it, albeit very slowly.
* Chips made of bio-degradable materials
* Absorbent and fire-resistant material
* Shredded paper, cardboard or wood-Based material
* Paper or cardboard rolls
* Bubble wrap
* Air-filled cushions
* Self expanding foam
Straps are used to group items into unit load. Polypropylene or polyester are the materials most often used.
The wider the strap, the stronger it will be. Using more than one strap and straps for length and width will create a strong place for stock.
NEW QUESTION # 235
A manufacturing company warehouse manager has recently decided to adopt a cross-docking system for some of the components held in storage. Which of the following is associated with goods in cross-docking?
Answer: D
NEW QUESTION # 236
A major investment bank is planning to purchase a complex banking system that will interface with multiple applications at varying times of the day. Before deploying the system, there are various levels of testing that must be performed through joint testing between the in-house team and off-shore testing consultants. The testing will be performed in a resource-constrained shared environment and managed by the on-shore development team. The costs for testing are generally classified as...?
Answer: D
Explanation:
In the scenario, the buying organisation (investment bank) must conduct various types of testing before the deployment of the software system. These tests can be functional testing, factory ac-ceptance testing and/or user acceptance testing. The costs for all these types of testing are classified as acquisition costs with regards of total cost of ownership.
NEW QUESTION # 237
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