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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification program that is designed to equip professionals with the necessary knowledge and skills to manage assets effectively throughout their entire life cycle. CIPS Whole Life Asset Management certification is suitable for professionals who are involved in the acquisition, operation, maintenance, and disposal of assets.

CIPS L4M7 Exam is highly regarded in the industry and is recognized by employers around the world. Successful completion of L4M7 exam demonstrates a high level of expertise in the field of asset management and can help individuals to advance their careers. L4M7 exam is also a valuable credential for organizations that are looking to demonstrate their commitment to best practices in asset management.

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CIPS Whole Life Asset Management Sample Questions (Q175-Q180):

NEW QUESTION # 175
A manufacturer is making a plan for strategic safety stock. To do so, they must analyse the proba-bility of a stock out occurring and the cost impacts if it does. Which of the following are typical costs the manufacturer may incur in 'out of stock' event? Select TWO that apply.

Answer: B,C

Explanation:
Costs of approving the requisition
Explanation:
The costs of stockouts - the costs of being out of inventory - include:
- Loss of production output
- Costs of idle time and of fixed overheads spread over a reduced level of output
- Costs of any action taken to deal with the stockout, such as buying from another stockist at an enhanced price, switching production, obtaining substitute materials
- Loss of customer goodwill due to the inability to supply or late delivery.
(Procurement and Supply Chain management - 9th Edition, K.
Lysons and B. Farrington, 2016) LO 2, AC 2.2


NEW QUESTION # 176
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?

Answer: B

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".
Reference:
- Preventive and corrective maintenance - cost comparison and cost-benefit analysis
- CIPS study guide page 158-163
LO 3, AC 3.1


NEW QUESTION # 177
Which of the following statements holds true about inventory holding costs?

Answer: A

Explanation:
Holding costs (carrying costs) are the costs associated with the storage and handling of physical stock. There are two different types of holding costs:
- Costs related to the value of the goods: financial costs (i.e. the interest on the working capital tied up in inventory, which may be the bank borrowing rate or the company's target for return on capital); cost of insurance; losses due to product deterioration; losses due to obsolescence and redundancy of inventory; losses due to theft, accidental damage etc.
- Costs related to the physical characteristics of the inventory include the following: storage space; power, heat and lighting of the store; movement equipment; labour costs; administration costs.
Reference: CIPS study guide page 100-101
LO 2, AC 2.2


NEW QUESTION # 178
Which of the following statements apply to an ERP system?

Answer: C


NEW QUESTION # 179
RFID uses radio frequencies for the purpose of identification and tracking of assets. Which of the following are disadvantages of using RFID? Select THREE that apply.
* RFID can be too expensive for many applications compared to other tracking and identification methods
* RFID tags have a limited amount of memory and are less effective than other product tracking systems
* It is difficult for an RFID reader to read the information where tags are installed in liquid or metal products
* Interference has been observed to take place in RFID systems when devices such as hand-held, portable, two-way radios are in use
* RFID provides a much less robust type of security compared to other forms of scanning systems
* RFID is a restriction in managing the updates of stocks during the transportation of products

Answer: A

Explanation:
RFID technology, while advanced, has several limitations:
* Cost: RFID can be expensive, particularly for smaller operations.
* Reading limitations with certain materials: Liquids and metals can interfere with RFID signals, limiting their effectiveness.
* Interference: Devices such as radios can disrupt RFID systems, reducing reliability.
In whole-life asset management, these disadvantages may affect the decision to implement RFID, especially in cost-sensitive or materials-sensitive applications.


NEW QUESTION # 180
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