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CIPS L4M7 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand the key elements of effective inventory control Factors that influence stores and warehouse layout
Topic 2	Hidden costs – global sourcing, risks associated with extended supply chain Cross functional support – ensure access to data
Topic 3	Ensure senior management support Use best estimates of values available Identify the contributing elements to end-of-life costs
Topic 4	The use of automation in warehousing Palletisation and unit loads
Topic 5	Dependent demand and independent demand itemsof stock ABC classifications of stock that may apply
Topic 6	Opening stock, work in progress, safety stock and finished goods Obsolescent and redundant stock
Topic 7	Identify the principles, purpose and impact of stores and warehouse design Identify the direct and indirect costs of holding inventory
Topic 8	Discuss options to reduce costs whilst mitigating any negative impact on service levels Location of stores and warehouses
Topic 9	Systems for product coding Bar coding The use of RFID technologies
Topic 10	Explain the use of product coding in inventory operations Order tracking technologies
Topic 11	Contrast the impact of the use of different warehousing equipment Understand methods for the storage and movement of inventory

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CIPS Whole Life Asset Management Sample Questions (Q36-Q41):

NEW QUESTION # 36
Which of the following is an assumption of economic-order-quantity model?

• A. The purchasing cost per unit is affected by the order quantity
• B. No inventory stockouts occur
• C. Demand, ordering costs, and carrying costs are uncertain
• D. The quantity ordered can vary at each reorder point

Answer: B Explanation:
Economic order quantity (EOQ) model is the method that provides the company with an order quantity. This order quantity figure is where the record holding costs and ordering costs are mini-mized. By using this model, the companies can minimize the costs associated with the ordering and inventory holding. In 1913, Ford W.
Harris developed this formula whereas R. H. Wilson is given credit for the application and in-depth analysis on this model.
If the economic order quantity model is applied, the following assumptions should be met:
- The rate of demand is constant, and total demand is known in advance.
- The ordering cost is constant.
- The unit price of inventory is constant, i.e., no discount is applied depending on order quantity.
- Delivery time is constant.
- Replacement of defective units is instantaneous.
- There is no safety stock level, i.e., the minimum stock level is zero.
- Restocking is made by the whole batch.
Because the demand and lead time are constant, no stockout events can occur.
Reference:
LO 2, AC 2.3
NEW QUESTION # 37
Which of the following are recognised as disadvantages of ERP systems? Select TWO that apply.

• A. Only applied to manufacturing
• B. High initial investment
• C. Required intensive employee training
• D. Lower factory efficiencies

Answer: B,C Explanation:
Excluded inventory records
Explanation:
Implementing a full ERP system is not an easy option. They are complex systems and the disad-vantages include the following:
- The installation of the ERP system is costly. ERP consultants are very expensive take approxi-mately 60% of the budget.
- The success depends on the skills and experience of the workforce, including education and how to make the system work properly.
- Resistance in sharing internal information between departments can reduce the efficiency of the software.
- The systems can be difficult to use.
- Change of staff, companies can employ administrators who are not trained to manage the ERP system of the employing company, proposing changes in business practices that are not synchro-nized with the system.
- Having an ERP system has many advantages, but does not guarantee the total success of the company. Organizational culture, know how to involve staff and anticipate changes that will suffer the organization using this system of administration, are important elements for the completion of the implementation.
- The effectiveness of the ERP system may decrease if there is resistance to share information be-tween business units or departments. Due to strong changes that implementation of the ERP system brings in the culture of work, there may be poorly trained or disinterested in making use of the same staff...
- The benefits of having an ERP system are not presented immediately with the implementation of the software, they will be evident long after the system is running.
- The culmination of the implementation depends on the ability and skill of the workforce, also involves education and training, to make the system is correctly applied.
Reference:
- What are the Advantages and Disadvantages of ERP System
- CIPS study guide page 119-122
LO 2, AC 2.3
NEW QUESTION # 38
One of the important outputs of an MRP system is the material requirement plan. This plan shows the net requirements for materials or components to make the final product. Which of the following best describes the net material requirements?

• A. Gross requirements + on-order - Inventory on-hand
• B. On order + Inventory on-hand
• C. Gross requirements - Inventory level - Scheduled receipt
• D. Total requirements - order releases + amount on-hand

Answer: C Explanation:
The net requirements are worked out using the following equation:
Net requirements = Total requirements - Available inventory
Where:
Total requirements = Gross requirements
Available inventory = Inventory on-hand + Units on-order
In the other words: Net requirements = Gross requirements - Inventory on-hand - Units on-order Inventory on-hand is also known as Inventory level, whereas Units on-order can be called Scheduled receipt.
Reference:
LO 2, AC 2.3
NEW QUESTION # 39
Which of the following are most likely to be the purposes of packing and packaging?
1. To bring the product cost down
2. To protect the product
3. To improve the product recognition
4. To test the product durability

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

Answer: B Explanation:
It would be really convenient if we could just hand our products directly to the customers, but that's not possible. Packaging needs to be done for several reasons. Here are some of the most prominent ones:
1. Safety: Packaging is used to keep your product safe from external factors. It also prevents human tampering. If you want to sell fruit juice, you just can't hand it over to customers. It should be packaged in something, like a stand up pouch.
2. Brand visibility: You provide the best product in your category and you want your customers to remember that. How else will you do that without using the right kind of creative food packaging?
3. Bundling it together: If you want to sell an ounce of something, you need to create a packet so that the right amount is bundled together.
4. Theft prevention: If you sell your product loose, there are chances that the retailer doesn't give the right amount to the customer and saves some part for himself. There are other cases too where theft can be done in the absence of packaging.
Apart from these four, there are many other reasons why you should package your products.
Reference:
- What Is the Purpose of Packaging?
- CIPS study guide page 62
LO 1, AC 1.3
NEW QUESTION # 40
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:

• A. Grab
• B. Stacker crane
• C. Order picker
• D. Scissor platform
• E. Carousel

Answer: C,D Explanation:
It is important to ensure safe working in storage facilities, and access to higher shelves or racking presents a challenge. Lifting at full reach becomes a problem at relative low weight. There can also be danger for other workers who are around someone working at height, from the movement of equipment or dropping stock from a height.
Scissor platforms are used in high-roof warehouses to gain access to lighting, high-racking units and sections of wall and roof.

ORDER PICKER is manual or powered device - some with ride-on capability and some without. This allow for low-level, medium-level and high-level picking of various items. Many are equipped with forks to allow transfer capability of larger picked boxes. Higher-level and narrow or very narrow -aisle versions have the ability to elevate operators on the front platform to higher racking to pick items.

Grabs are designed to hold stock either width-wise or from above. These are either specific devices designed for grabbing materials or are available as an accessory to forklift trucks.

Carousels are space-efficient, rotating devices which allow access to a large range of product from a single location. Designs are variable, with carousels rotating horizontally or vertically until the required items can be retrieved.

Stacker-cranes are designed for the automated storage and retrieval of unit loads, in high-bay warehouses. They travel in aisles equipped with guide rails, electrical supply, data transmission and control systems. To ensure the storage and retrieval functions, the stacker-crane carries out three types of movement : long-travel, lifting and picking.

Reference:
LO 1, AC 1.3
NEW QUESTION # 41
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