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L4M7 Exam Bootcamp | Test L4M7 Duration
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CIPS L4M7 Certification Exam is an excellent opportunity for professionals looking to advance their careers in procurement and supply chain management, and enhance their knowledge and skills in the growing field of asset management. With companies increasingly investing in assets as part of their strategic agendas, this certification is becoming increasingly relevant and important to organizations seeking to manage their assets effectively and efficiently.
CIPS Whole Life Asset Management Sample Questions (Q240-Q245):
NEW QUESTION # 240
In a fast-moving consumer goods (FMCG) organisation, a site has separate packaging areas for incoming and outgoing food. The incoming packages must be opened and unpacked before any of the food ingredients can be sorted for distribution. Production line workers run the risk of severe hand strains and knife-related injuries if the box cutting is done manually. Which of the following can eliminate any potential risk of injury to the production line workers while having the ability to Increase the throughput?
- A. Automated packaging systems and robotics
- B. Bar coding system
- C. Radio frequency identification
- D. Warehouse management system
Answer: A
NEW QUESTION # 241
Which of the following are warehouse layouts that allow the cross aisle to meet picking aisle at angles different from 90 degrees?
1. 'Fan' shaped layout
2. Herringbone-shaped layout
3. U-shape layout
4. L-shape layout
- A. 2 and 3 only
- B. 3 and 4 only
- C. 1 and 2 only
- D. 1 and 3 only
Answer: C
Explanation:
In a traditional warehouse, storage racks are arranged to create parallel picking aisles, perhaps with one or more cross aisles to allow workers to move quickly between picking aisles. This structure forces workers to travel rectilinear distances (north-south and east-west) to picking locations.
Kevin R. Gue and Russell D. Meller proposed alternative aisle designs:
- The 'Fan' shaped layout (or "Flying V"). This layout maintains parallel picking aisles, but al-lows the cross aisle to take on a different shape. If travel begins and ends at the bottom of the V, Gue and Meller expected distance to retrieve a single pallet is 10% less in this warehouse than in an equivalent traditional design.
- The Herringbone-shaped layout (or commonly referred as Fishbone layout) combines the verti-cal picking rows of a traditional warehouse with a second set of horizontal picking rows, divided by a V-shaped diagonal alley crossing the entire warehouse. This simple modification to the typical warehouse design allows employees (e.g. a forklift driver) to increase travel speed between picking locations. Efficiency gains achieved through a layout reconfiguration would reduce picking cost up to 23% compared to an equivalent warehouse using a traditional configuration.
Reference
Aisle Design - Kevin Gue
LO 1, AC 1.1
NEW QUESTION # 242
Which of the following are subjective forecasting techniques? Select TWO that apply.
- A. Cycle counting
- B. Delphi method
- C. Test marketing
- D. Pareto principle Weighted moving average
Answer: B,C
Explanation:
The most common subjective forecasting techniques include the following:
- Market surveys
- Employee surveys
- Expert knowledge (Delphi method is a method using expert knowledge)
- Test marketing
Cycle counting is a periodic analysis of inventory in a storage location which is conducted through the counting of samples instead of physically counting the entire inventory available, so as to quickly have an accurate estimate of the inventory available without causing a stop to the day to day working as is the case with physically counting every unit.
The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of fac-tor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.
Weighted moving averages assign a heavier weighting to more current data points since they are more relevant than data points in the distant past. The sum of the weighting should add up to 1 (or 100 percent).
NEW QUESTION # 243
Which is the best definition of reorder point?
- A. The level inventory at which an order must be made
- B. The point when stock reaches zero
- C. The point when one unit of stock remains in stock
- D. The point at which stock will fall to zero minus lead-time
Answer: A
Explanation:
Reorder point is the point either in time or in a process when the next order should be placed.
NEW QUESTION # 244
When considering purchasing a piece of equipment internationally, there are a number of risk factors that need to be considered. Which of the following are risks associated with international purchasing?
1. Costs associated with tariff and non-tariff barriers to trade
2. Whether the equipment will operate In the language of the purchasing country
3. Costs associated with fluctuation on currency exchange rates
4. Costs associated with getting the equipment operating manual translated
- A. 1 and 4 only
- B. 2 and 5 only
- C. 1 and 3 only
- D. 3 and 4 only
Answer: C
NEW QUESTION # 245
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