CIPS Level 4 – Diploma In Procurement And Supply Module 7 .

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CIPS Level 4 – Diploma in Procurement andSupplyModule 7 – Whole Life Asset ManagementSAMPLE EXAM QUESTIONSOBJECTIVE RESPONSE QUESTIONS AND ANSWERSThe correct answer will be identified as [key]1Leading global excellence in procurement and supplyL4M7 Sample Exam Questions Dec 2018

Q1. Which of the following is the best example of 'lean' in the context of inventory control?a. Advance orderingb. Buffer stocksc. Timescale reductiond. Waste minimisationLO: 2AC: 2.3Q2. Which of the following is the most effective inventory performance measure?a. Lead timeb. Profit marginc. Revenue generatedd. Value of stockLO: 2AC: 2.3Q3. Which of the following can be described as resources used in the production process that cannot be easilyattributed to the actual products being manufactured?a. Indirect suppliesb. Variable unitsc. Fixed costsd. Marginal overheadsLO: 2AC: 2.1L4M7 Exam Exemplar Questions Dec 20182

Q4. Construct Group (CG) is a major construction company. It buys an extensive range of goods and services and isin the process of adopting a category management approach. As an initial step CG has applied ABC stockclassification to identify its most important items. Which of the following is a disadvantage of using this approachalone?a. It is very complex to apply across a large organisation with many productsb. It assumes that financial value is the only driver of importancec. The information required to conduct the analysis is generally not availabled. The approach is not suitable for goods used in the construction industryLO: 2AC: 2.1Q5. Heavy Duty Engineering Group (HDEG) manufactures a wide range of diesel engines, mostly used in theagricultural sector. Forecasting future volumes is not easy as sales are unpredictable, in particular in respect ofitems such as gaskets, filters and pumps. These items are known as which of the following?a. Dependent demand itemsb. Indirect itemsc. Overhead itemsd. Independent product linesLO: 2AC: 2.1L4M7 Exam Exemplar Questions Dec 20183

Q6. EatWell (EW) is a medium-sized regional retailer. In recent years EW has been experiencing financial difficultiesas a result of changing consumer habits and increasing pressure from the major stores. Its financial controller hasbeen concerned about its increasing expenditure on inventories, whilst overall EW's revenues and sales volumeshave both been declining steadily. Which of the following measures should have highlighted this deterioratingtrend?a. Lead timesb. Service levelsc. Stock turnd. Disposal costsLO: 2AC: 2.3Q7. The use of RFID technologies have directly driven which of the following benefits in procurement and supply?1. Easier stock identification2. Improved inventory tracking3. Fewer returned items4. Less individual deliveriesa) 1 and 2 onlyb) 1 and 3 onlyc) 2 and 4 onlyd) 3 and 4 onlyLO: 1AC: 1.2Q8. Which of the following directly relate to triple bottom line concepts?1. What is the environmental impact?L4M7 Exam Exemplar Questions Dec 20184

2. Does this machine have the best output?3. Are our supply chain practices good for communities?4. Is our warehouse big enough?a. 1 and 2 onlyb. 3 and 4 onlyc. 2 and 4 onlyd. 1 and 3 onlyLO: 3AC: 3.3Q9. Which of the following are related to end-of-life costs of an asset? Select the TWO that applya. Disposal costsb. Servicing costsc. Depreciation costsd. Decommissioning costse. Opportunity costsf. Maintenance costsLO: 3AC: 3.1Q10.Which of the following are crucial and primary considerations when designing a new warehouse? SelectTHREE that applya. Stakeholder mappingb. Competitive activitiesc. Flowd. Product pricinge. Space utilisationL4M7 Exam Exemplar Questions Dec 20185

f. FlexibilityLO: 1AC: 1.1L4M7 Exam Exemplar Questions Dec 20186

CIPS Level 4 – Diploma in Procurement and Supply . Module 7 – Whole Life Asset Management . SAMPLE EXAM QUESTIONS . OBJECTIVE RESPONSE QUESTIONS AND ANSWERS . The correct answer will be identified as [key] 2 L4M7 Exam Exemplar Questions Dec 2018 . Q1. Which of the following is the best example of 'lean' in the context of inventory control? a. Advance ordering . b. Buffer stocks . c .

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