PrepPDF provides CIPS L4M7 desktop-based practice software for you to test your knowledge and abilities. The L4M7 desktop-based practice software has an easy-to-use interface. You will become accustomed to and familiar with the free demo for CIPS L4M7 Exam Questions. Exam self-evaluation techniques in our L4M7 desktop-based software include randomized questions and timed tests. These tools assist you in assessing your ability and identifying areas for improvement to pass the CIPS Whole Life Asset Management exam.
CIPS L4M7 Exam Syllabus Topics:TopicDetailsTopic 1Ensure senior management support Use best estimates of values available Identify the contributing elements to end-of-life costsTopic 2Hidden costs – global sourcing, risks associated with extended supply chain Cross functional support – ensure access to dataTopic 3Identify the principles, purpose and impact of stores and warehouse design Identify the direct and indirect costs of holding inventoryTopic 4Opening stock, work in progress, safety stock and finished goods Obsolescent and redundant stockTopic 5Systems for product coding Bar coding The use of RFID technologiesTopic 6Understand the key elements of effective inventory control Factors that influence stores and warehouse layoutTopic 7Discuss options to reduce costs whilst mitigating any negative impact on service levels Location of stores and warehousesTopic 8Dependent demand and independent demand itemsof stock ABC classifications of stock that may applyTopic 9The use of automation in warehousing Palletisation and unit loads>> Reliable L4M7 Exam Bootcamp <<
L4M7 Pass4sure Exam Prep & L4M7 Latest TrainingOur L4M7 exam dumps strive for providing you a comfortable study platform and continuously explore more functions to meet every customer’s requirements. We may foresee the prosperous talent market with more and more workers attempting to reach a high level through the CIPS certification. To deliver on the commitments of our L4M7 test prep that we have made for the majority of candidates, we prioritize the research and development of our L4M7 Test Braindumps, establishing action plans with clear goals of helping them get the CIPS certification. You can totally rely on our products for your future learning path. Full details on our L4M7 test braindumps are available as follows.
CIPS Whole Life Asset Management Sample Questions (Q95-Q100):NEW QUESTION # 95
A manufacturer aims at increasing the service levels to 99% from 97% through expanding the safety stock. Safety stock can be used to accommodate which of the following?
1. Variability of stock turn
2. Variability of holding costs
3. Variability of demand
4. Variability of lead time
Answer: B
Explanation:
Safety stock is also known as buffer stock. As this name suggests, this type of stock provides some kind of 'buffer', which means safety stock will help the business to reduce the shocks induced by volatile demand or disruption on the supply chain. In other words, safety stock will reduces the probability of stockouts. The following graph would explain the reason why an organisation should have safety stock:
Figure 1: Safety stock graph
As it is only the buffer against uncertainty, safety stock level should be equal to the deviation of demand or replenishment time. Safety stock should be able to accommodate variance of demand and variance of lead time.
Reference:
- Safety stock explained
- CIPS study guide page 84-86
LO 2, AC 2.1
NEW QUESTION # 96
Which of the following is often created by each business and commonly used for the purpose of inventory management?
Answer: A
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 # 97
Company XYZ is a candy manufacturer. Company XYZ makes a batch of 1,000 Christmas candy canes that are no longer edible after December 31. Company XYZ is able to sell 750 canes of the batch, but the other 250 are sitting in the warehouse. December 31 comes, and these candy canes is no longer sell-able. The batch of 250 candy canes belongs to which type of inventory?
Answer: A
Explanation:
Obsolescent stock is stock, usually finished goods, which is in good condition and satisfactory working but for which demand is irreversibly falling towards zero. Once this demand reaches zero the stock can be considered 'obsolete'. It cannot be used or sold in its current state. Food ingredients (like candy canes) which are out of date are another example.
Reference:
LO 2, AC 2.1
NEW QUESTION # 98
Which of the following best describe the function of MRP?
Answer: B
Explanation:
Material requirement planning (MRP) is a production planning and material (inventory) control system used in manufacturing. Objectives of MRP are to ensure materials are available for production while minimising inventory and to plan production and procurement activities.
MRP process is described in the graph below:
Reference:
LO 2, AC 2.3
NEW QUESTION # 99
In the Appendix A of a long-term supply contract of Bulk Drug Substance, both parties agree that "The reference price for Bulk Product at the specification, per gram, shall be US$10. The unit price for Bulk Product for a specific Purchase Order shall be computed by multiplying the above- specified reference price by two corrective factors, namely inflation correction factor and exchange rate correction factor". This pricing appendix is an example of...?
Answer: C
Explanation:
Price setting mechanisms fall into two main categories: fixed and variable. A fixed price mecha-nism is a straightforward concept which typically results in a relatively stable budget that can be forecast. Variable mechanisms have an element of variable pricing per unit bought.
Setting a fixed price mechanism is in theory a relatively simple and straightforward concept, where the collector and the buyer agree on a fixed price for a specific material or mix of materials, for a certain length of time.
All other pricing mechanisms that are not fixed have an element of variable pricing per unit bought.
The most common variable pricing mechanisms can be divided into two groups:
1. Where the benefit accruing to the buyer from acquiring the material is used to calculate what the payment to the seller should be; or Approaches to Materials Sales: A guide for local authorities
2. Where the price paid is indexed to a published source of market price information. The above scenario demonstrates variable pricing mechanism using published sources on inflation rate and exchange rate. CIPS also refers this mechanism as adjustable prices.
Reference:
- CIPS study guide page 138-139
- 10.0 Price setting mechanisms
LO 3, AC 3.1
NEW QUESTION # 100
......
Thousands of people will crowd into our website to choose the L4M7 study materials. So people are different from the past. Learning has become popular among different age groups. Our L4M7 guide questions truly offer you the most useful knowledge. You can totally trust us. We are trying our best to meet your demands. Why not give our L4M7 Practice Engine a chance? Our products will live up to your expectations.
L4M7 Pass4sure Exam Prep: https://www.preppdf.com/CIPS/L4M7-prepaway-exam-dumps.html
>>https://www.preppdf.com/CIPS/L4M7-prepaway-exam-dumps.html
