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CIPS L4M7 Exam is suitable for a wide range of professionals, including those working in the public and private sectors. L4M7 exam is particularly relevant for professionals working in asset-intensive industries such as utilities, transportation, and manufacturing. CIPS Whole Life Asset Management certification is also useful for professionals working in consultancy firms, engineering firms, and government agencies. The CIPS L4M7 Exam is recognized globally and is considered a valuable credential for professionals seeking to advance their careers in asset management.
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The term triple bottom line refers to a method for organizations to measure performance in three ways. Which of the following describe the triple bottom line? Select THREE that apply.
* Economic sustainability
* Market sustainability
* Quality sustainability
* Environmental sustainability
* Technological sustainability
* Social sustainability
A. 1, 4, and 6
B. 3, 5, and 6
C. 2, 4, and 5
D. 1, 3, and 5
Answer: A
Explanation:
The triple bottom line (TBL) framework evaluates organizational performance based on:
* Economic sustainability: Focusing on financial stability and profitability.
* Environmental sustainability: Ensuring that business activities minimize negative ecological impacts.
* Social sustainability: Committing to ethical practices and community well-being.
TBL aligns with whole-life asset management principles by incorporating sustainability into asset use and disposal, ensuring long-term organizational value beyond just financial metrics.
NEW QUESTION # 151
In the periodic review system, the order quantity is the same for each order. Is this statement true?
A. No, the inventory position at each review point differs from each other
B. Yes, in periodic review system items are reviewed when the Kanban is triggered
C. Yes, the order quantity should be equal to economic order quantity
D. No, the next order quantity must be larger than the previous one
Answer: A
Explanation:
Fixed-Time Period System (or Periodic Review system) is the inventory management system in which inventory is checked in fixed time periods, T, and the quantity ordered varies. The system also contains a target inventory level, R, which is restored when order received. The order quantity is calculated as:
Q = R - IP
where: Q = order quantity
R = target inventory level
IP = inventory position
Inventory position (IP) is equal to inventory on-hand plus quantity on order minus backorder (if any) The order quantity varies because the inventory position at each review point differs from each other.
LO 2, AC 2.3
NEW QUESTION # 152
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.
A. Extra costs for urgent transportation
B. Cost of equipment downtime
C. Costs of handling inventory
D. Costs for qualifying suppliers
Answer: A,B
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 # 153
Zemora Clothing Inc. receives high-priced garments with devices hidden inside the lining. This is done to avoid possible fraudulent removal of the garments from the shop. These tags are activated when the items arrive at the stores. When a garment Is moved by a customer from a display area, security employees receive an initial alert. An alarm rings if the customer passes through the doors of the shop without paying for the items. Which of the following order tracking technology is used by this company?
A. Electronic data interchange
B. Electronic resource planning
C. Bar coding system
D. Radio frequency identification
Answer: D
NEW QUESTION # 154
Which of the following statements about radio frequency identification (RFID) is NOT true?
A. RFID tags contain a microchip in which data of an item are saved
B. RFID systems transmit radio signals over extreme long distances.
C. RFID is a powerful technology for tracking the movement of goods throughout the supply chain
D. RFID systems can be complied with GS1 standards
Answer: B
Explanation:
RFID tags have very limited range. The following table was extracted from Wikipedia:
RFID tags can be used to do the following:
- Track individual items
- Track boxes of products, cages of products and pallet
- Track containers with multiple loads
- Locate equipment within a building
- Trigger alarms should equipment or stock be removed without authorisation.
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate. RFID chips are very small integrated circuit incorporating a small memory capability
- many are smaller than 2mm square and 2mm thick. Despite its size, many can hold 2000 characters of data.
Many retailers simply use the tag as a thick label and print both sides with product information and perhaps a barcode.
It is important to note that there are multiple standards in use for RFID - some of these are standardised for industries but there are also national standards in operations. These standards need to be investigated before investment as not all readers work with all cards. GS1 is a non-for-profit organisation which make the standards for barcodes and RFID.
Reference: CIPS study guide page 49-50
LO 1, AC 1.2
NEW QUESTION # 155
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