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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Exam Format: | Computer-based objective test, Multiple-choice questions |
| Recommended Training: | CIPS Official Learning Resources Approved CIPS Study Centres |
| Exam Registration: | CIPS Official Website - Qualifications CIPS Exam Registration Information |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Computer-based exam delivered at approved test centres or online proctored (depending on region and provider availability) |
| Pre Condition: | Part of the CIPS Level 4 Diploma in Procurement and Supply; candidates are typically required to be enrolled in the qualification pathway. |
| Official Syllabus URL: | https://www.cips.org |
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The topics covered in the CIPS L4M7 Exam are highly relevant to procurement professionals who work in a range of industries, including manufacturing, construction, transportation, and energy. By gaining this certification, professionals can demonstrate their knowledge and skills in asset management, making them highly valued members of any procurement team.
CIPS L4M7 certification exam is ideal for professionals who are looking to enhance their career prospects in the asset management field. It is also suitable for those who are looking to transition into a career in asset management, as it provides a comprehensive understanding of the field. CIPS Whole Life Asset Management certification is recognized globally, and holders of the certification are highly sought after by employers in a variety of industries.
NEW QUESTION # 266
The width of aisles within a warehouse is determined by...?
Answer: D
Explanation:
Below is a formula from Toyota you can use to make an informed decision.
1. Start with the basic right-angle stacking width
2. Add the load length
3. Add 12 inches for clearance
The basic right-angle stacking width is the smallest amount of space a forklift needs turn in order to insert its forks into a pallet. You can find basic right-angle stack measurements in the equipment manual or by contacting TMHNC if your business is located in Northern California. This measurement does not include the length of the load or room need for clearance.
Load lengths vary depending on your application, products, etc. As a starting point, a standard pallet has a 48- inch load length. Always check your forklift's data plate for the rated capacity (which is affected by attachments and other factors).
Adding 12 inches for clearance ensures you have enough room for your forklift's turn radius and helps protect against damage from operator error and/or product that may hang over the edge of the pallet.
NEW QUESTION # 267
With D is the annual demand (units), S is cost per order, H is annual carrying cost per unit; the formula for Economic Order Quantity is....?
Answer: C
Explanation:
LO 2, AC 2.3
NEW QUESTION # 268
Which of the following are recognised as disadvantages of ERP systems? Select TWO that apply.
Answer: A,D
Explanation:
Implementing a full ERP system is not an easy option. They are complex systems and the disad-vantages include the following:
- The installation of the ERP system is costly. ERP consultants are very expensive take approxi-mately 60% of the budget.
- The success depends on the skills and experience of the workforce, including education and how to make the system work properly.
- Resistance in sharing internal information between departments can reduce the efficiency of the software.
- The systems can be difficult to use.
- Change of staff, companies can employ administrators who are not trained to manage the ERP system of the employing company, proposing changes in business practices that are not synchro-nized with the system.
- Having an ERP system has many advantages, but does not guarantee the total success of the company.
Organizational culture, know how to involve staff and anticipate changes that will suffer the organization using this system of administration, are important elements for the completion of the implementation.
- The effectiveness of the ERP system may decrease if there is resistance to share information be-tween business units or departments. Due to strong changes that implementation of the ERP system brings in the culture of work, there may be poorly trained or disinterested in making use of the same staff...
- The benefits of having an ERP system are not presented immediately with the implementation of the software, they will be evident long after the system is running.
- The culmination of the implementation depends on the ability and skill of the workforce, also involves education and training, to make the system is correctly applied.
NEW QUESTION # 269
Perm Limited has a small warehouse where staff find it difficult to estimate when a supplier's shipment will arrive. This issue has affected business planning. Which of the following could Penu Limited use to provide real-time data on the status of orders and deliveries in the supply chain?
Answer: D
NEW QUESTION # 270
Which of the following statements about radio frequency identification (RFID) is NOT true?
Answer: A
Explanation:
RFID tags have very limited range. The following table was extracted from Wikipedia:
RFID tags can be used to do the following:
- Track individual items
- Track boxes of products, cages of products and pallet
- Track containers with multiple loads
- Locate equipment within a building
- Trigger alarms should equipment or stock be removed without authorisation.
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate. RFID chips are very small integrated circuit incorporating a small memory capability
- many are smaller than 2mm square and 2mm thick. Despite its size, many can hold 2000 characters of data.
Many retailers simply use the tag as a thick label and print both sides with product information and perhaps a barcode.
It is important to note that there are multiple standards in use for RFID - some of these are standardised for industries but there are also national standards in operations. These standards need to be investigated before investment as not all readers work with all cards. GS1 is a non-for-profit organisation which make the standards for barcodes and RFID.
Reference: CIPS study guide page 49-50
LO 1, AC 1.2
NEW QUESTION # 271
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