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CIPS L4M7 certification is particularly relevant for professionals who work in the construction and engineering industries, where assets play a critical role in project success. CIPS Whole Life Asset Management certification covers all aspects of asset management, including planning, procurement, design, operation, maintenance, renewal, and disposal. By achieving this certification, professionals can demonstrate their ability to manage assets effectively and efficiently, minimizing costs and maximizing value.
The Chartered Institute of Procurement and Supply (CIPS) L4M7 exam, also known as the Whole Life Asset Management exam, is a professional certification program designed for procurement and supply chain practitioners. CIPS Whole Life Asset Management certification is highly valuable for the individuals who work in industries that deal with assets, including construction, real estate, energy, transportation, public sector, etc. The CIPS L4M7 Exam provides a comprehensive understanding of how to manage assets throughout their entire lifecycle. CIPS Whole Life Asset Management certification is globally recognized and offers an opportunity for professionals to attain a highly sought-after credential in the procurement and supply chain world.
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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is an advanced-level certification that is specifically designed for professionals who want to gain expertise in the field of asset management. CIPS Whole Life Asset Management certification exam is a globally recognized qualification, which provides professionals with the necessary knowledge and skills to manage assets throughout their entire life cycle. L4M7 Exam covers a range of topics including asset identification, valuation, maintenance, replacement, and disposal. It also includes an understanding of the legal and regulatory requirements that govern asset management.
NEW QUESTION # 221
Which of the following is strongly associated with 'cross docking'?
Answer: D
NEW QUESTION # 222
The selection of the correct type of material handling equipment is important. If the width of the gangway between the racking in a warehouse is 2.4 meters (8 feet), what type of material handling equipment would be suitable?
Answer: B
NEW QUESTION # 223
The minimal total cost is always achieved when there is only one warehouse. Is this statement true?
Answer: C
Explanation:
The total cost of storage consists of two different costs:
- The cost of warehouses: each one has a different cost, and each has the cost of stock-holding and stock management included
- The transport costs: the total transport cost reduces as further warehouses mean shorter final delivery to the customers.
Depending on each situation, the optimal number of warehouses varies. Generally, more facilities will increase the cost of warehouses while reduce the transport costs and vice versa.
NEW QUESTION # 224
Which of the following are the key elements of total productive maintenance?
1. Reactive maintenance
2. Quality maintenance
3. Deferred maintenance
4. Autonomous maintenance
Answer: A
Explanation:
Total productive maintenance (TPM) is an innovative concept in the manufacturing industry that evolved from the idea of preventive maintenance to adopt practices of productive maintenance, maintenance prevention, and reliability Engineering. What we now refer to as TPM, has become an ingenious approach to achieve overall equipment effectiveness by involving the workforce behind the machines (i.e. the operators).
8 pillars of TPM
1) 5S - Sort, straighten, shine, standardize, and sustain
Just like a physical structure starts with a grounded framework, building a strong TPM process requires a strong foundation in the form of the principles of 5S. This is a workplace organization method that is simplified into 5 basic steps:
Sort tools, equipment, and materials to identify which of these can be discarded Straighten and set things in proper order to reduce unnecessary motion and efficiently travel be-tween working groups and locations Shine refers to performing necessary housekeeping to clean up the work area Standardize and schedule activities to systematically form the habits to keep the workplace orga-nized Sustain the process and principles for long-term applications The 5S approach provides a systematic approach to cleaning the workplace, thereby uncovering underlying problems and challenges.
2) Autonomous maintenance
Maintenance tasks and caring for equipment should start with the people using the equipment. The empowerment of operators to work on small maintenance tasks effectively allows the maintenance teams to focus on more specialized assignments.
3) Continuous improvement
Also known as the Japanese term Kaizen, Continuous Improvement promotes the attitude of pro-gressing towards zero losses and zero defects. Through small but continual tweaks to processes, the overall effectiveness and efficiency of the organization is developed.
4) Planned maintenance
Planned maintenance activities are essential to the prevention of equipment breakdown. Planned maintenance is performed by periodically evaluating the condition of equipment to proactively prevent deterioration and mechanical failures.
5) Quality maintenance
To ensure the satisfaction of the customer, manufacturing processes aim for zero-defect production. Standards for superior quality, and checks on whether the standards are being met, should be in place. The goal of quality maintenance is to identify any possible causes of deviations from zero-defect production.
6) Training
The idea of TPM is that everyone does their part to contribute to the overall productivity of the production process. In order to achieve optimum performance, and to build each member's competence, proper training is required to equip each one with the theoretical and practical know-how of working with machines and equipment.
7) Office TPM
A key role that is often overlooked is the administrative department that works behind the scenes. Like the rest of the production teams and processes, the management and administrative functions are also subject to productivity improvement. Tins includes identifying and eliminating losses, and contributing to the overall performance of the plant.
8) Safety, health, and environment
The last of the eight pillars focuses on creating a safe workplace. The essence of this pillar is real-ized when actively applied to each of the other pillars. The successful implementation of this pillar will contribute to a secure and hazard-free workplace.
Reference:
Total Productive Maintenance (TPM) - Upkeep
CIPS study guide page 163
LO 3, AC 3.1
NEW QUESTION # 225
A local hospital has a highly complex piece of medical equipment delivering proton beam therapy that only one supplier in the world manufactures. Owing to the specialist nature of the equipment, the patient waiting list is extremely long. It is therefore essential that the equipment failure downtime is kept to an absolute minimum, as it would have a negative impact on patient treatment delays. Due to the complex nature and essential need of the equipment to be in continual use, which of the followingpackages will offer the most protection in ensuring reliability and reduced downtime arising from equipment failures throughout its lifetime?
Answer: C
NEW QUESTION # 226
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