CIPS L4M7 Whole Life Asset Management Exam Questions and Answers 100% Pass

CIPS L4M7 Whole Life Asset Management Exam Questions and Answers 100% Pass Causes of Obsolescence - Correct Answer ️️ -Technical Change Cultural Change Legislation 2D Barcode - Correct Answer ️️ - Types of Stock - Correct Answer ️️ -Opening Stock Raw Materials Secondary Components Work in Progress Finished Goods Safety/Buffer Stock Stockout Causes of Obselence - Correct Answer ️️ -Technical Change Cultural Change Legislation Causes of Redundancy - Correct Answer ️️ -Poor Forecasting if Demand Cancelled Orders due to Poor Relationship Overstocking/Poor Stock Control Change to Internal Policy Triple Bottom Line - Correct Answer ️️ -People Profit Planet Inventory Code Types - Correct Answer ️️ -Numerical Alphabetical Alpha-Numeric Random Generated/Created Sequential Structured Factors Influencing Storage Location - Correct Answer ️️ -Cost Availability Suitability Nature of Items to be Stored Access to Transport Infrastructure Considerations when Designing a Warehouse - Correct Answer ️️ -Flow Types of Inventory - Correct Answer ️️ -Raw Materials Components Work in Progress Finished Goods Purpose of Stores/Warehouses - Correct Answer ️️ -Make stock available to customers Maintain safe environment for workers in warehouse Maintain secure environment and avoid stock losses EAN13 Barcode - Correct Answer ️️ - Materials Handling Equipment - Correct Answer ️️ -Dollies Sack Trucks Trolleys Turntable Trucks Roll Cages Order Pickers Pallet Trucks Pallet Stackers Grabs Drum Lifters and Loaders Counterbalance Forklift Trucks Reach Trucks Vacuum Lifters Roller Systems Conveyer Systems Cranes Carousels Stacked Cranes Weighbridge Floor Scale Platform Scale Conveyor Belt Scale Load Cells Suspended Balance and Crane Scales Counting Scales Just In Time (J.I.T) - Correct Answer ️️ -A production methodology where stock is acquired literally 'just in time' to be incorporated into the production process. It is a means of reducing stockholding and reducing waste in production Direct Supplies - Correct Answer ️️ -Integrated into the finished product Indirect Supplies - Correct Answer ️️ -Not incorporated in the finished product, but keeps the business and factory in operation Dependent Demand - Correct Answer ️️ -Requirement for a stock item which is directly related to and therefore dependent upon the rate of p