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Pass your CIPS L4M7 Exam with accurate Questions & Answers
Whole Life Asset Management
Last Updated: Oct 3, 2024
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135 Questions and Answers for the CIPS L4M7 exam
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CIPS Whole Life Asset Management Syllabus
- Explain the use of product coding in inventory operations/ Order tracking technologies
- Systems for product coding/ Bar coding/ The use of RFID technologies
- Environmental standards for packaging/ Materials handling equipment
- The use of automation in warehousing/ Palletisation and unit loads
- Opening stock, work in progress, safety stock and finished goods/ Obsolescent and redundant stock Dependent demand and independent demand itemsof stock/ ABC classifications of stock that may apply
- Understand the key elements of effective inventory control/ Factors that influence stores and warehouse layout
- Contrast the impact of the use of different warehousing equipment/ Understand methods for the storage and movement of inventory
- Discuss options to reduce costs whilst mitigating any negative impact on service levels/ Location of stores and warehouses
- Identify the principles, purpose and impact of stores and warehouse design/ Identify the direct and indirect costs of holding inventory
- Hidden costs – global sourcing, risks associated with extended supply chain/ Cross functional support – ensure access to data
- Ensure senior management support/ Use best estimates of values available/ Identify the contributing elements to end-of-life costs
- Differentiate between the different classifications of inventory/ Identify techniques associated with inventory control