SAMPLE CIPS L4M7 QUESTIONS ANSWERS, FREE L4M7 EXAM DUMPS

Sample CIPS L4M7 Questions Answers, Free L4M7 Exam Dumps

Sample CIPS L4M7 Questions Answers, Free L4M7 Exam Dumps

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Tags: Sample L4M7 Questions Answers, Free L4M7 Exam Dumps, Reliable L4M7 Test Pattern, L4M7 Simulation Questions, Exam L4M7 Questions Fee

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CIPS L4M7 Exam is an important certification for professionals in the field of asset management. L4M7 exam is designed to test the knowledge and understanding of whole life asset management principles and practices. It covers a range of topics including sustainability, risk management, maintenance, and replacement management.

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Sample L4M7 Questions Answers - Free PDF L4M7 - First-grade Free CIPS Whole Life Asset Management Exam Dumps

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CIPS Whole Life Asset Management Sample Questions (Q143-Q148):

NEW QUESTION # 143
Which of the following allow an organisation to have more flexible space for storage by leveraging the facilities of other parties? Select TWO that apply.

  • A. Temporary warehousing
  • B. Eliminating dead stock or inventory
  • C. Installing double-deep pallet racking
  • D. Consignment stocking
  • E. Adopting carousel-type storage

Answer: A,D

Explanation:
Temporary warehousing (or 'Very short-term warehousing') is offered in the market where organ-isation makes their requirements for space open online to offers or bids for available space. This appears to be an emerging market and service providers in the UK and USA typically quote a price per pallet per week with some also requiring a 'transaction fee' for movements of each pallet in and out.
Consignment stocking is a facility offered by a supplier to a buyer to allow a delivery of stock to the buyer with payment only after it is used or sold to a customer.
Double-deep pallet racking and carousel-style storage are two tools that leverage space within a warehouse:
Double-deep pallet rack

Carousel style storage


NEW QUESTION # 144
To make loading/unloading more effective and efficient, which feature should be included in vehi-cle dock design?

  • A. The dock platform is almost at the same level as the height of the trailer's rear platform
  • B. Vehicle docks only require a small area to ensure faster goods flow
  • C. 'Dual-use' docks are always the most efficient
  • D. Steeper slope will reduce the chance of errors and accidents

Answer: A

Explanation:
Warehouse dock is a feature of warehouse design - used for unloading and loading vehicles. It is crucial to carefully design where they are externally located in a facility and choose the best type of dock depending on the available space.
In many cases efficient and effective loading and unloading is achieved by a dock design that places the loading and unloading vehicle' rear platform at the same height as the warehouse floor.
Slopes in docking areas must always be as small as possible: the gentler the slope, the less chance of errors and accidents. If a warehouse is going to be used by large volume vehicles, such as high cubes, it may be necessary to install special devices, such as hydraulically adjustable docks or ground level lift platforms.
Current trends indicate that vehicles that are longer and wider and have a greater volume will be increasingly common. Therefore, when planning the location of the docks, it would be useful to ensure that there is a large area for the approach, manoeuvring and build-up of large vehicles.
One option to increase the efficiency of the docks is to combine reception and dispatch into a single area (dual use). This solution drastically reduces costs and, above all, increases the use of handling equipment and personnel. However, if this is justified by the volume of material flows, there can also be separate access points for each function (some for reception and others for dispatch - 'sole use').


NEW QUESTION # 145
In inventory management, the cost of insurance and taxes are included in which group?

  • A. Acquisition costs
  • B. Costs of shortage
  • C. Set up costs
  • D. Inventory carrying cost

Answer: D

Explanation:
Direct and indirect costs of holding inventory include the following:
1. Acquisition costs
2. Holding costs (carrying costs) are the costs associated with the storage and handling of physical stock.
There are two different types of holding costs:
a. 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.
b. 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.
3. Costs of stockouts


NEW QUESTION # 146
What is the stock turn for a store holding products to the value of £250,000 with annual sales of these products amounting to £1,000,000?

  • A. 0.25
  • B. 0
  • C. 0.4
  • D. 1

Answer: D

Explanation:
Calculating Inventory Turnover (Stock Turn)
As with a typical turnover ratio, inventory turnover details how much inventory is sold over a period. To calculate the inventory turnover ratio, cost of goods (COGS) is divided by the average inventory for the same period.1 Cost of Goods Sold ÷ Average Inventory or Sales ÷ Inventory In this exercise, the stock turn equal to sales divided by inventory, or 1,000,000:250,000 = 4.


NEW QUESTION # 147
Which of the following are the key elements of total productive maintenance?
1. Reactive maintenance
2. Quality maintenance
3. Deferred maintenance
4. Autonomous maintenance

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

Answer: A

Explanation:
Total productive maintenance (TPM) is an innovative concept in the manufacturing industry that evolved from the idea of preventive maintenance to adopt practices of productive maintenance, maintenance prevention, and reliability Engineering. What we now refer to as TPM, has become an ingenious approach to achieve overall equipment effectiveness by involving the workforce behind the machines (i.e. the operators).
8 pillars of TPM

1) 5S - Sort, straighten, shine, standardize, and sustain
Just like a physical structure starts with a grounded framework, building a strong TPM process requires a strong foundation in the form of the principles of 5S. This is a workplace organization method that is simplified into 5 basic steps:
Sort tools, equipment, and materials to identify which of these can be discarded Straighten and set things in proper order to reduce unnecessary motion and efficiently travel be-tween working groups and locations Shine refers to performing necessary housekeeping to clean up the work area Standardize and schedule activities to systematically form the habits to keep the workplace orga-nized Sustain the process and principles for long-term applications The 5S approach provides a systematic approach to cleaning the workplace, thereby uncovering underlying problems and challenges.
2) Autonomous maintenance
Maintenance tasks and caring for equipment should start with the people using the equipment. The empowerment of operators to work on small maintenance tasks effectively allows the maintenance teams to focus on more specialized assignments.
3) Continuous improvement
Also known as the Japanese term Kaizen, Continuous Improvement promotes the attitude of pro-gressing towards zero losses and zero defects. Through small but continual tweaks to processes, the overall effectiveness and efficiency of the organization is developed.
4) Planned maintenance
Planned maintenance activities are essential to the prevention of equipment breakdown. Planned maintenance is performed by periodically evaluating the condition of equipment to proactively prevent deterioration and mechanical failures.
5) Quality maintenance
To ensure the satisfaction of the customer, manufacturing processes aim for zero-defect production. Standards for superior quality, and checks on whether the standards are being met, should be in place. The goal of quality maintenance is to identify any possible causes of deviations from zero-defect production.
6) Training
The idea of TPM is that everyone does their part to contribute to the overall productivity of the production process. In order to achieve optimum performance, and to build each member's competence, proper training is required to equip each one with the theoretical and practical know-how of working with machines and equipment.
7) Office TPM
A key role that is often overlooked is the administrative department that works behind the scenes. Like the rest of the production teams and processes, the management and administrative functions are also subject to productivity improvement. Tins includes identifying and eliminating losses, and contributing to the overall performance of the plant.
8) Safety, health, and environment
The last of the eight pillars focuses on creating a safe workplace. The essence of this pillar is real-ized when actively applied to each of the other pillars. The successful implementation of this pillar will contribute to a secure and hazard-free workplace.


NEW QUESTION # 148
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