COMPLETE CIPS L4M7 EXAM DUMPS - NEW L4M7 TEST PASS4SURE

Complete CIPS L4M7 Exam Dumps - New L4M7 Test Pass4sure

Complete CIPS L4M7 Exam Dumps - New L4M7 Test Pass4sure

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Tags: Complete L4M7 Exam Dumps, New L4M7 Test Pass4sure, L4M7 Latest Exam Price, Exam Vce L4M7 Free, Practice L4M7 Engine

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To prepare for the CIPS L4M7 Certification Exam, candidates can choose from a range of training options, including online courses, classroom training, and self-study materials. L4M7 Exam consists of multiple-choice questions and is delivered online. Candidates must achieve a minimum score of 50% to pass the exam.

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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification that validates the knowledge and skills required to efficiently manage assets throughout their entire lifecycle. CIPS Whole Life Asset Management certification is designed for professionals who are involved in asset management, such as engineers, project managers, facility managers, and maintenance managers.

CIPS Whole Life Asset Management Sample Questions (Q23-Q28):

NEW QUESTION # 23
Which of the following are features of product codes?
1. Product codes link to products' characteristics
2. A product code must comply with international standards
3. Many internal processes use the product codes as facilitators
4. There are no duplicate product codes

  • A. 3 and 4 only
  • B. 1 and 3 only
  • C. 2 and 4 only
  • D. 1 and 2 only

Answer: B

Explanation:
The product code is often the key to obtaining documentation relating to products.

Product codes are often use to link to internal processes. Some computerised inventory systems trigger alerts when specific items or volume are ordered - this could be an out-of-stock warning or potential volume errors.
In many cases, an organisation will use its own product code system. The organisation constructs a code that is effective and fits with its software and the variety of items covered. So these codes may or may not comply with any international standards (such as GS1 specifications, ISO standards, etc.). As organisations make up the code themselves, the codes may look identical to others. For example, SKU414675 reveals that it is used for many items, including the following:
- A UK wholesaler's six-pack of branded cola
- An Australian snack food
- UK flower seeds
- An Italian desk sold in Japan
- A Brazilian light fitting


NEW QUESTION # 24
Extra units that are held in inventory to reduce the risks of stock-out are called...?

  • A. Just-in-time
  • B. Safety stock
  • C. Reorder point
  • D. Demand variance

Answer: B

Explanation:
The safety stock (or buffer stock) is the stock level that limits stock shortages due to unforeseen events (forecasts not in line with demand, longer than expected supply time, etc...) Demand variance is the degree to which the demand in a fixed period deviates from the average demand of the same period.
A reorder point is the unit quantity on hand that triggers the purchase of a predetermined amount of replenishment inventory.
The just-in-time (JIT) inventory system is a management strategy that aligns raw-material orders from suppliers directly with production schedules.
Reference:
LO 2, AC 2.1


NEW QUESTION # 25
An electricity company charges its customers monthly fee for access and a usage fee for consump-tion of electricity. Which pricing structure is the company using?

  • A. Freemium Pricing
  • B. Fixed pricing
  • C. Multi-part pricing
  • D. Dynamic pricing

Answer: C

Explanation:
Multi-part pricing. The transaction price is calculated from using two or more metrics rather than just one. The most common economic example of a price structure beyond unit pricing is called a two-part tariff. Basically it can be described such that the "entrance fee" provides the privilege of purchasing the metered component. A common multi-part tariff is the two-part tariff in electricity, under which the customer pays a monthly fee for access and a usage fee for consumption of electricity. With this two-part tariff, the operator is able to charge a price equal to marginal cost for electricity, which is profit maximizing, and deviate from marginal cost pricing in the fee for access.
Freemium is an internet-based pricing strategy where a service is offered for free in the beginning, but the price is charged on the premium package with some additional features. However, freemium pricing strategy is different from the premium pricing strategy because freemium offers free sample which you can use without paying anything, you'll only be charged when you want additional features.
Demand pricing is also synonymously used for dynamic pricing; it is a relative term used in the online platform. Dynamic pricing means different pricing is charged from the different customers depending upon the urgency, customer's ability and demand of the customers.
Reference:
LO 3, AC 3.1


NEW QUESTION # 26
Which of the following is NOT an improvement available in ERP II in compare with ERP?

  • A. ERP II offers better integration with other proprietary software
  • B. ERP II enables the organisation to collaborate with trading partners across the supply chain
  • C. ERP II systems are closed and silo-working
  • D. ERP II crosses all sectors and segments of business, including service, government and asset-based industries

Answer: C

Explanation:
The main improvements from ERP to ERP II are the following:
- ERP II is web enabled as compared to Conventional ERP Which is not.
- ERP is restricted to provide selected exhaustive or rigorous or wide-spread coverage in its mod-ules. But as compared to ERP, ERP II provides the true and accurate blend of the macro and the micro and affords customers with curative actions/measures after identifying the slip-up/error or fault;
- ERP was embattled more headed for manufacturing or industrialization and the dilemma or difficulty is conquer in ERP II by endowing clarification for all kind of industries and sectors.
- ERP is not in the position or could not possibly integrate/incorporate diverse functions from di-verse departments/divisions but ERP II could possibly do so as well as from different industries as compared to conventional ERP.
- For WEB and WAP connectivity ERP II grip CRM and SCM Functionalities.
- ERP II be obliged the function and purpose to an external/outdoor one and smooth the progress of better networks than remaining as internal/interior application.


NEW QUESTION # 27
Which type of codes can a barcode laser scanner (linear scanner) read?

  • A. 1D barcode
  • B. Numerical code
  • C. Aztec code
  • D. QR code

Answer: A

Explanation:
One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spac-ings of parallel lines. These include some of the most traditional and well-recognized barcode types, such as the UPC and EAN codes. 1D barcodes are also commonly referred to as linear barcodes.
Two-dimensional (2D) barcodes look like squares or rectangles that contain many small, individual dots. QR codes, Data matrix and Aztec codes are examples of 2D barcodes Numerical code contains all numbers, no letters There are two different scan engine types (laser scanner versus imager) for interpreting the infor-mation provided in the barcode. Many companies producing the technology capable of reading the barcode data uses the term "scanning" regardless of the type of scan engine used. For the purposes of these FAQs, we are trying to draw a clearer distinction for you.
Linear (1D) codes can be scanned with a traditional laser scanner. A laser scan engine uses a laser and mirror to create the bar that scans the information. 1D barcode scanners will only interpret the linear barcode scanning technology. 1D barcode scanners are typically less expensive since the type of encryptions they can decode is limited.

LO 1, AC 1.2


NEW QUESTION # 28
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