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[Hardware] Free PDF Quiz Accurate CIPS - L4M7 Sample Exam

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【Hardware】 Free PDF Quiz Accurate CIPS - L4M7 Sample Exam

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CIPS L4M7 exam is an essential certification program for procurement professionals who want to excel in the management of assets throughout their life cycle. L4M7 exam covers a range of topics relevant to asset management, and passing it demonstrates to employers that the student has a high level of knowledge and skills in this area. As such, the CIPS L4M7 certification is highly valued in many industries and can be a valuable asset to any procurement professional's resume.
CIPS L4M7 Certification Exam covers a wide range of topics related to asset management, including asset planning, procurement, maintenance, disposal, and risk management. L4M7 Exam is designed to test the candidate's ability to apply these concepts in real-world scenarios, making it an ideal certification for professionals who want to demonstrate their practical knowledge of asset management. L4M7 exam is also designed to be accessible to professionals from different backgrounds, with no specific prerequisites required to take the exam.
L4M7 Exam Consultant & L4M7 Visual Cert TestAre you planning to crack the CIPS CIPS Whole Life Asset Management L4M7 certification test in a short time and don't know how to prepare for it? DumpStillValid has updated L4M7 Dumps questions for the applicants who want to prepare for the CIPS L4M7 Certification test successfully within a few days. This study material is available in three different formats that you can trust to crack the CIPS L4M7 certification test with ease.
CIPS Whole Life Asset Management Sample Questions (Q119-Q124):NEW QUESTION # 119
Which of the following best describes available inventory (also known as inventory position)?
  • A. The amount of inventory on order only
  • B. The amount of inventory on hand in excess of expected demand
  • C. The amount of inventory on hand
  • D. The amount of inventory on hand plus the amount of inventory on order
Answer: D
Explanation:
Available inventory (or Inventory position - IP) is equal to inventory on-hand plus quantity on order minus backorder (if any)

NEW QUESTION # 120
The minimal total cost is always achieved when there is only one warehouse. Is this statement true?
  • A. No, more warehouses will reduce the cost of storage
  • B. Yes, because the operation cost for warehouse reaches minimal level
  • C. Yes, because warehouse overheads are fully utilised
  • D. No, fewer warehouse may lead to increasing transport costs
Answer: D
Explanation:
The total cost of storage consists of two different costs:
- The cost of warehouses: each one has a different cost, and each has the cost of stock-holding and stock management included
- The transport costs: the total transport cost reduces as further warehouses mean shorter final delivery to the customers.
Depending on each situation, the optimal number of warehouses varies. Generally, more facilities will increase the cost of warehouses while reduce the transport costs and vice versa.

NEW QUESTION # 121
Practice of unloading goods from inbound delivery vehicles and loading them directly onto out-bound vehicles is known as ...?
  • A. Tracing and tracking
  • B. Automation
  • C. Decommissioning
  • D. Cross-docking
Answer: D
Explanation:
Cross-docking is the practice of unloading goods from inbound delivery vehicles and loading them directly onto outbound vehicles. By eliminating or minimizing warehouse storage costs, space requirements and inventory handling, cross-docking can streamline supply chains and help them move goods to market faster and more efficiently.
Cross-docking usually takes place in a dedicated docking terminal in a warehouse, where inbound goods are first received at a dock and sorted according to their final destinations. They are then moved to the other side of the dock via forklift, conveyor belt or other equipment and loaded on outbound vehicles.
Cross-docking works best with products that need to be transported quickly, such as food, that have already been sorted and labeled for customers, do not need quality inspections or have steady demand.

NEW QUESTION # 122
XYZ Ltd is a major distributor of electrical equipment protection products in the United States. XYZ found that there was a lack of communication between the company and its key supplier, leading to the supplier trying to predict distributor needs and distributor attempting to estimate lead times. Essentially, both the supplier and the distributor have different sets of information, spending time and money trying to predict what the other will do. To deal with this problem, XYZ Ltd decides to implement new inventory management method in which the supplier manage the replenishment of items for sale. Both parties are obliged to share information on variations in demand and stock levels for goods used for or sale. Which inventory management method is XYZ Ltd implementing?
  • A. Economic order quantity
  • B. Floor-ready merchandise
  • C. Vendor managed inventory
  • D. Reverse logistics
Answer: C
Explanation:
Floor-Ready Merchandise can be defined as the merchandise that is pre-tagged, pre ticketed and pre-occupied with all the necessary details and information such as marked to their specifications for style, size, type, color and price, this information is required in the retail store and is done before it reaches the retail store.
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W.
Harris and has been refined over time. The formula assumes that demand, ordering, and holding costs all remain constant.
The full definition of reverse logistics, as according to The Council of Logistics Management, is the process of implementing, controlling, and planning the cost-effective flow of finished goods, raw materials, and in-process inventory. The flow is from the point of consumption (i.e. the customer) to the point of origin (i.e. the manufacturer), to properly dispose of these or to recapture value.
In the scenario, XYZ solves the current situation by letting the supplier to management the inventory and sharing stock level information with the supplier. Vendor managed inventory is the most suitable answer.
Reference:
LO 3, AC 3.1

NEW QUESTION # 123
"Open stock plus purchases minus closing stock" is the formula of which of the following?
  • A. Cost of goods sold
  • B. Revenue
  • C. Inventory
  • D. Liability
Answer: A
Explanation:
The amount of closing stock (properly valued) is used to arrive at the cost of goods sold in a periodic inventory system with the following calculation:
Opening stock + Purchases - Closing stock = Cost of goods sold

NEW QUESTION # 124
......
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