CIPS L4M7 Braindumps Downloads - L4M7 Exam Introduction

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CIPS L4M7 Braindumps Downloads

Free PDF Quiz CIPS - L4M7 - Fantastic CIPS Whole Life Asset Management Braindumps Downloads

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CIPS L4M7 (CIPS Whole Life Asset Management) certification exam is an internationally recognized certification program that focuses on the management of assets throughout their entire life cycle. CIPS Whole Life Asset Management certification is designed for professionals who work in the field of asset management and are responsible for maintaining and managing assets from the design phase to the end of their useful life.

CIPS Whole Life Asset Management Sample Questions (Q69-Q74):

NEW QUESTION # 69
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:

  • A. Grab
  • B. Order picker
  • C. Carousel
  • D. Stacker crane
  • E. Scissor platform

Answer: B,E

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.

Reference:
LO 1, AC 1.3


NEW QUESTION # 70
Which of the following costs does the EOQ minimise?

  • A. Total cost of safety stock
  • B. Total cost of carrying stock
  • C. Total cost of ordering inventory
  • D. Total cost of annual inventory cost

Answer: D

Explanation:
Economic order quantity (EOQ) was developed in 1913 by Ford W.
Harris and has been refined over time. The formula assumes that demand, ordering, and holding costs all remain constant. The EOQ minimizes the total annual inventory cost.
EOQ formula is as follow:

LO 2, AC 2.3


NEW QUESTION # 71
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?

  • A. Holding costs
  • B. Acquisition costs
  • C. Costs of stockouts
  • D. Purchase price

Answer: A

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 # 72
A supplier delivers large quantities of inventory to its customer's store, but only charges for the goods as and when they are used. This can be described as...?

  • A. Consignment stock
  • B. Components inventory
  • C. Multi-stage inventory
  • D. Multi-echelon stock

Answer: A

Explanation:
Consignment stock is stock legally owned by one party, but held by another, meaning that the risk and rewards regarding to the said stock remains with the first party while the second party is re-sponsible for distribution or retail operations. Ownership of consignment stock is passed only when the stock is used (issued or sold in the case of a shop). Unused stock in a warehouse may be returned to the supplier when it concerns standard manufactured products. With customer specific items, agreements concerning returning products, should be negotiated.
Reference:
LO 1, AC 1.1


NEW QUESTION # 73
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

  • A. 2, 3 and 4
  • B. 2, 3 and 4
  • C. 1, 2 and 4
  • D. 1, 3 and 4

Answer: D

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.
Reference:
- Types of Inventory
- CIPS study guide page 82-83
LO 2, AC 2.1


NEW QUESTION # 74
......

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