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Exam L4M7 Collection & Latest L4M7 Exam Questions Vce

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CIPS L4M7 (CIPS Whole Life Asset Management) Exam is a certification exam that assesses the knowledge and skills of professionals in the field of asset management. Asset management is a critical function in any organization as it involves the management of assets, including physical, financial, and intellectual assets, throughout their lifecycle. L4M7 exam is designed to test the candidates' ability to manage assets efficiently and effectively, from acquisition to disposal.

CIPS L4M7 (CIPS Whole Life Asset Management) Exam is a certification exam designed for professionals seeking to enhance their knowledge and skills in the field of asset management. It is an advanced-level exam that covers a range of topics, including asset management strategy, asset data management, and asset performance management.

CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a professional qualification designed to equip candidates with the knowledge and skills required to manage assets throughout their entire lifecycle. CIPS Whole Life Asset Management certification exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a globally recognized professional body for procurement and supply chain management.

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CIPS Whole Life Asset Management Sample Questions (Q110-Q115):

NEW QUESTION # 110
Inventory may be classified into direct and indirect supplies. Which of the following is a characteristic of indirect supplies?

A. Indirect supplies are costs that have an impact on the operating cost of the business
B. Indirect supplies have a significant impact on the quality of the final product
C. Indirect supplies refer to stock that is partway through manufacture
D. Indirect supplies are the sub-assemblies required in the final product

Answer: A

Explanation:
Indirect supplies support operations without becoming part of the final product. They impact operating costs (e.g., maintenance supplies), supporting the production environment but not the end product. Managing indirect supplies is crucial in whole-life asset management to control overhead costs and ensure uninterrupted operations.

NEW QUESTION # 111
Which of the following is often created by each business and commonly used for the purpose of inventory management?

A. Harmonised system
B. FDA product code
C. ISBN
D. SKU

Answer: D

Explanation:
Organisations often create their own stock keeping unit (SKU) numbering system, which may or may not have a meaningful structure. Stock keeping unit is a number that is assigned to a product for the purpose of inventory management and is of tracking. In other words, a stock keeping unit is a unique identifier assigned to each product for easier and more efficient record keeping.
An FDA (US Food and Drug Administration) product code describes a specific product and contains a combination of five to seven numbers and letters. The product code submitted with each FDA line item should match the actual product name and/or invoice description of the product.
The International Standard Book Number is a numeric commercial book identifier which is in-tended to be unique. Publishers purchase ISBNs from an affiliate of the International ISBN Agency.
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.
Reference:
LO 1, AC 1.2

NEW QUESTION # 112
Sidel Corp is a major food processor. It invested heavily on manufacturing facilities and processing machineries. Sidel's expenses on maintenance are exceptionally high. To minimise the total cost of maintenance, what should Sidel Corp do?

A. Balance between proactive maintenance and reactive maintenance
B. Replace every machineries at breakdowns
C. Only conduct preventative maintenance
D. Outsource corrective maintenance but in-source preventative maintenance.

Answer: A

Explanation:
Maintenance can represent a significant portion of the cost in asset intensive organisations (such as Sidel - a food processor), as breakdowns have an impact on the capacity, quality and cost of operation. However, the formulation of a maintenance strategy depends on a number of factors, including the cost of down time, reliability characteristics and redundancy of assets. Consequently, the balance between preventive maintenance (PM) and corrective maintenance (CM) for minimising costs varies between organisations and assets. Nevertheless, there are some rules of thumb on the balance between PM and CM, such as the 80/20 rule.
Preventive maintenance is a type of proactive maintenance, while corrective maintenance is an example of reactive maintenance. Therefore, the answer should be "Balance between proactive maintenance and reactive maintenance".

NEW QUESTION # 113
Why would an organisation need to hold safety stock?

A. To allow for a faster and more efficient inventory turnover which will aid the cash flow of the organisation
B. To create zero inventories and allow the development of a Just-In-Time (JIT) approach to inventory management
C. To allow for the loss of idle time and to spread the fixed overheads across a reduced level of output
D. To cover shortages due to agreed lead times being exceeded or the actual demand being greater than anticipated

Answer: D

NEW QUESTION # 114
Which of the following can replace pallets as bases for unit loads but they require push pull acces-sories to retrieve or discharge unit load?

A. Skids
B. Shrink wraps
C. Slip sheets
D. Post pallets

Answer: C

Explanation:
The system of slip sheet load handling involves the use of a thin sheet of material, the slip sheet, as a base on which items are assembled as a unit load for handling, storage, and transport. The slip sheet is used in conjunction with a pallet, if desired, at certain stages in the distribution cycle. If all lift trucks in the cycle are equipped with the proper attachment, an appropriate slip sheet is the only material handling base required. Slip sheet requires special push pull accessories and usually use thin and wide forks.

Skids are generally described as single-deck pallets and do not have bottom flatted layer which makes them less bulky and cheaper than conventional pallets but also less universal in their use.

Shrink wrap, also referred to as shrink film or shrink wrap, is a versatile polymer material used for the packaging of finished goods. Heat is applied to the film - by either a conveyor heat tunnel or an electric or gas heat gun - which catalyzes the film to shrink tightly around the item placed within. This process results in a clear, durable barrier of protection around the product.
Post pallets have a simple metal structure with four uprights and substantial feat to take the load. These may be free standing, but many are designed for the feet to interlock with the posts of another post pallet so that the stack can be created.

Reference:
LO 1, AC 1.3

NEW QUESTION # 115
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