L4M7 VALID DUMPS BOOK & L4M7 EXAM CERTIFICATION COST

L4M7 Valid Dumps Book & L4M7 Exam Certification Cost

L4M7 Valid Dumps Book & L4M7 Exam Certification Cost

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Tags: L4M7 Valid Dumps Book, L4M7 Exam Certification Cost, Latest L4M7 Version, L4M7 Exam Collection Pdf, Training L4M7 Tools

In a rapidly growing world, it is immensely necessary to tag your potential with the best certifications, such as the L4M7 certification. But as you may be busy with your work or other matters, it is not easy for you to collect all the exam information and pick up the points for the L4M7 Exam. Our professional experts have done all the work for you with our L4M7 learning guide. You will pass the exam in the least time and with the least efforts.

CIPS L4M7 Exam covers a wide range of topics related to asset management, including the importance of asset registers, asset condition assessments, and risk analysis. Candidates will learn about the different types of assets, such as buildings, vehicles, and equipment, and how to manage them throughout their entire lifespan. They will also explore the various techniques used to optimize asset performance and reduce costs.

CIPS L4M7 certification exam is ideal for individuals who are involved in asset management roles within their organization, such as facilities managers, maintenance managers, and procurement professionals. It is also suitable for those who are looking to enhance their skills and knowledge in asset management to pursue a career in this field. By obtaining this certification, professionals will be able to demonstrate their expertise in asset management principles and practices, which can help them to advance their careers and improve their job prospects.

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L4M7 Exam Certification Cost | Latest L4M7 Version

That's why it's indispensable to use CIPS Whole Life Asset Management (L4M7) real exam dumps. ValidExam understands the significance of Updated CIPS L4M7 Questions, and we're committed to helping candidates clear tests in one go. To help CIPS L4M7 test applicants prepare successfully in one go, ValidExam's L4M7 dumps are available in three formats: CIPS Whole Life Asset Management (L4M7) web-based practice test, desktop L4M7 practice Exam software, and L4M7 dumps PDF.

CIPS Whole Life Asset Management Sample Questions (Q221-Q226):

NEW QUESTION # 221
Lean principle focuses on eliminating eight types of waste. Waste in Lean manufacturing is defined as...?

  • A. Part of any activity which is inevitable
  • B. Non value-adding steps in a process
  • C. Part of activity when operator is idle
  • D. Rejection of material because of quality related problems

Answer: B

Explanation:
Lean thinking aims to remove wastes from work processes. Before diving into the 8 wastes, it is important to understand what waste is. Waste is any action or step in a process that does not add value to the customer. In other words, waste is any process that the customer does not want to pay for.
The original seven wastes (Muda) was developed by Taiichi Ohno, the Chief Engineer at Toyota, as part of the Toyota Production System (TPS). The seven wastes are Transportation, Inventory, Motion, Waiting, Overproduction, Overprocessing and Defects. They are often referred to by the acronym 'TIMWOOD'. The 8th waste of non-utilized talent or 'Skills' of workers was later introduced in the 1990s when the Toyota Production System was adopted in the Western world. As a result, the 8 wastes are commonly referred to as 'TIMWOODS'.

Source: The lean way
Reference:
LO 2, AC 2.3


NEW QUESTION # 222
Which of the following is the correct statement about total ordering cost?

  • A. Fall with the per period usage rate
  • B. Rise as the order quantity rises
  • C. Rise as the average stock level rises
  • D. Equal the number of orders placed times the cost of placing an order

Answer: D

Explanation:
Typically, ordering costs include expenses for a purchase order, labor costs for the inspection of goods received, labor costs for placing the goods received in stock, labor costs for issuing a supplier's invoice and labor costs for issuing a supplier payment. These costs are irrelevant from the size of the order and are incurred every time a firm places an order.
The total ordering cost will be equal to ordering cost per order multiply with number of orders.
Reference:
LO 2, AC 2.2


NEW QUESTION # 223
Which of the following statements holds true about inventory holding costs?

  • A. They depend upon the opportunity cost of tying up funds and the average value of the stock holding
  • B. They decline as the cost of the inventory item rises
  • C. They are independent of the average stock level
  • D. They always exceed total ordering costs

Answer: A

Explanation:
Holding costs (carrying costs) are the costs associated with the storage and handling of physical stock. There are two different types of holding costs:
- Costs related to the value of the goods: financial costs (i.e. the interest on the working capital tied up in inventory, which may be the bank borrowing rate or the company's target for return on capital); cost of insurance; losses due to product deterioration; losses due to obsolescence and redundancy of inventory; losses due to theft, accidental damage etc.
- Costs related to the physical characteristics of the inventory include the following: storage space; power, heat and lighting of the store; movement equipment; labour costs; administration costs.


NEW QUESTION # 224
XYZ Ltd is a highly profitable leading industrial distributor with over 60,000 products and an enviable record for customer service. After undertaking preliminary discussions it was decided to analyse the value-adding activities that contribute to XYZ's flagship products. The company is conducting which of the following activities?

  • A. Silo-working
  • B. Kanban
  • C. Value stream mapping
  • D. Postponement

Answer: C

Explanation:
According to Hines and Rich, value stream refers to specific parts of the firms that actually add value to the specific product or service under consideration. XYZ Ltd is mapping the value stream by analysing the value-adding activities that contribute to their most important product.
Postponement is a business strategy which maximizes possible benefit and minimizes risk by delaying further investment into a product or service until the last possible moment. An example of this strategy is Dell Computers' build-to-order online store. One of the earliest references to the concept was in a paper by Zinn and Bowersox in the Journal of Business Logistics. They highlighted five types: Labelling, Packaging, Assembly, Manufacturing and Time postponements.
Kanban (signboard or billboard in Japanese) is a scheduling system for lean manufacturing and just-in-time manufacturing (JIT). Taiichi Ohno, an industrial engineer at Toyota, developed kanban to improve manufacturing efficiency. Kanban is one method to achieve JIT. The system takes its name from the cards that track production within a factory. For many in the automotive sector, kanban is known as the "Toyota nameplate system".
Put simply, silo working occurs when several departments or groups within that organisation do not want to share information or knowledge with other individuals they work with.
Reference:
LO 2, AC 2.3


NEW QUESTION # 225
Decommissioning, removal and disposal of assets may have impact on the environment. An organisation should have policies and procedures in place to enhance its environmental performance. Which standard family provides the guidance on environmental policies and procedures?

  • A. ISO 14000 family
  • B. ISO 9000 family
  • C. ISO 27000 family
  • D. ISO 22000 family

Answer: A

Explanation:
The ISO 14000 family of standards are developed by ISO Technical Committee ISO/TC 207 and its various subcommittees. For a full list of published standards in the series see their standards catalogue. ISO 14001 provides requirements with guidance for use that relate to environmental systems. Other standards in the family focus on specific approaches such as audits, communications, labelling and life cycle analysis, as well as environmental challenges such as climate change.
ISO 27000 family of standards concerns information technology, with the goal of improving security and protecting company assets. Started in 2005, the two most popular standards are ISO 27001:2013 and 27002:
2013. 27001 is management-based system, whereas 27002 is a technical document, focused on the individual and putting a code of conduct in place. Organizations can choose either standard; ISO 27001 has over 22,000 certifications worldwide. It is a broad standard, and for this reason the certification can be customized to fit the needs of the organization, and is not mandatory.
ISO 22000 sets out the requirements for a food safety management system and can be certified to it. It maps out what an organization needs to do to demonstrate its ability to control food safety hazards in order to ensure that food is safe. It can be used by any organization regardless of its size or position in the food chain.
ISO 9001 is a family of quality management standards, there are fourteen in total. Of these, ISO 9001:2015 is the only one that can be certified to. It was first published in 1987, and has since been updated about every 7 years. The standard details how to put a Quality Management System (QMS) in place to better prepare your organization to produce quality products and services. It is customerfocused, and places an emphasis on continuous improvement and top management processes that extended throughout the organization.


NEW QUESTION # 226
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