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CIPS L4M7 Certification Exam is open to professionals from all industries, including finance, healthcare, manufacturing, and transportation. Candidates who successfully pass the exam will receive the CIPS L4M7 Certification, which is recognized globally as a mark of excellence in asset management.
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CIPS L4M7 Certification Exam covers a wide range of topics related to asset management, including asset planning, procurement, maintenance, disposal, and risk management. L4M7 exam is designed to test the candidate's ability to apply these concepts in real-world scenarios, making it an ideal certification for professionals who want to demonstrate their practical knowledge of asset management. L4M7 Exam is also designed to be accessible to professionals from different backgrounds, with no specific prerequisites required to take the exam.
NEW QUESTION # 216
Which of the following are examples of subjective methods of forecasting? Select TWO that apply.
* Trend line analysis
* Moving averages
* Market research
* Expert opinion
* Seasonal variations
Answer: B
Explanation:
Subjective forecasting methods, like market research and expert opinion, rely on qualitative judgment rather than numerical data. These methods are valuable when historical data is limited, or when anticipating market changes. Whole-life asset management may use subjective forecasts for long-term planning and to account for factors not captured in quantitative data.
NEW QUESTION # 217
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:
Answer: B,D
Explanation:
It is important to ensure safe working in storage facilities, and access to higher shelves or racking presents a challenge. Lifting at full reach becomes a problem at relative low weight. There can also be danger for other workers who are around someone working at height, from the movement of equipment or dropping stock from a height.
Scissor platforms are used in high-roof warehouses to gain access to lighting, high-racking units and sections of wall and roof.
ORDER PICKER is manual or powered device - some with ride-on capability and some without. This allow for low-level, medium-level and high-level picking of various items. Many are equipped with forks to allow transfer capability of larger picked boxes. Higher-level and narrow or very narrow -aisle versions have the ability to elevate operators on the front platform to higher racking to pick items.
Grabs are designed to hold stock either width-wise or from above. These are either specific devices designed for grabbing materials or are available as an accessory to forklift trucks.
Carousels are space-efficient, rotating devices which allow access to a large range of product from a single location. Designs are variable, with carousels rotating horizontally or vertically until the required items can be retrieved.
Stacker-cranes are designed for the automated storage and retrieval of unit loads, in high-bay warehouses.
They travel in aisles equipped with guide rails, electrical supply, data transmission and control systems. To ensure the storage and retrieval functions, the stacker-crane carries out three types of movement : long-travel, lifting and picking.
NEW QUESTION # 218
Which of the following are examples of acquisition costs for the buying organisation? Select TWO that apply.
Answer: C,E
NEW QUESTION # 219
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?
Answer: B
Explanation:
Direct and indirect costs of holding inventory include the following:
- Acquisition costs
- Holding costs: There are 2 different types of holding costs: costs related to the value of the goods (including opportunity costs, costs of insurance, losses due to product deterioration, etc) and costs related to the physical characteristics of this inventory.
- Costs of stockouts
Reference:
LO 2, AC 2.2
NEW QUESTION # 220
The Four Counties hospital in Norway is experiencing financial pressures. The procurement team is looking for the best approach to procure patient equipment that is critical and is often required at very short notice.
Which of the following techniques would allow the hospital to access the stock at short notice, but without paying for it until it is used?
Answer: D
NEW QUESTION # 221
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