Pass CIPS L4M7 With PremiumVCEDump Exam Dumps - Updated on Mar-2023 [Q57-Q75]

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Pass CIPS L4M7 With PremiumVCEDump Exam Dumps – Updated on Mar-2023 [Q57-Q75]

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Pass CIPS L4M7 With PremiumVCEDump Exam Dumps – Updated on Mar-2023

Fully Updated L4M7 Dumps – 100% Same Q&A In Your Real Exam

CIPS L4M7 Exam Syllabus Topics:

Topic	Details
Topic 1	Environmental standards for packaging Materials handling equipment
Topic 2	Understand the key elements of effective inventory control Factors that influence stores and warehouse layout
Topic 3	Identify the principles, purpose and impact of stores and warehouse design Identify the direct and indirect costs of holding inventory
Topic 4	Differentiate between the different classifications of inventory Identify techniques associated with inventory control
Topic 5	Explain the use of product coding in inventory operations Order tracking technologies
Topic 6	The use of automation in warehousing Palletisation and unit loads
Topic 7	Dependent demand and independent demand itemsof stock ABC classifications of stock that may apply
Topic 8	Discuss options to reduce costs whilst mitigating any negative impact on service levels Location of stores and warehouses
Topic 9	Ensure senior management support Use best estimates of values available Identify the contributing elements to end-of-life costs
Topic 10	Hidden costs – global sourcing, risks associated with extended supply chain Cross functional support – ensure access to data
Topic 11	Systems for product coding Bar coding The use of RFID technologies
Topic 12	Opening stock, work in progress, safety stock and finished goods Obsolescent and redundant stock

Q57. When accounting for the disposal of fixed assets, the gain or loss on disposal is equal to…?

The difference between resale price and the cost or valuation less accumulated depre-ciation up to the date of disposal

The difference between resale price and the cost of that asset

The difference between resale price and the cost or valuation plus depreciation up to the beginning of the year in which disposal took place

The difference between resale price and the cost of the asset less depreciation up to the beginning of the year in which disposal took place

Q58. Which of the following is a main objective of just-in-time?

Better demand forecasting

Leveraging economic order quantity

Higher safety stock

Waste reduction

Q59. When deciding on the storage facilities and locations, an organisation needs to assess the current situation comprehensively and forecast the future demands. Quantitative analysis is the best method for these activities. Is this statement true?

Yes, quantitative analysis provides a reality based on numerical values

No, some intangible information is difficult to collect and measure

Yes, quantitative analysis is easy to implement as it is based on ‘hard’ facts

No, subjective judgements are the best as they compensate for weaknesses of quantita-tive analysis

Q60. Which of the following is often created by each business and commonly used for the purpose of inventory management?

SKU

ISBN

Harmonised system

FDA product code

Q61. Which of the following statements is true?

All indirect supplies are independent demand items

Number of independent demand items may be derived from the forecast

Dependent demand items are not directly correlated with production rate

Car engine is an example of independent demand items in a car assembly plant

Q62. Which of the following are typical characteristics of 2D barcodes? Select TWO that apply.

Every 2D barcodes must conform international standards

The 2D barcodes are machine-readable

2D barcodes are exclusively used for marketing purpose

2D barcodes can be read by linear scanners

2D barcodes can contain more data than 1D barcodes

Q63. A manufacturer is making a plan for strategic safety stock. To do so, they must analyse the proba-bility of a stock out occurring and the cost impacts if it does. Which of the following are typical costs the manufacturer may incur in ‘out of stock’ event? Select TWO that apply.

Extra costs for urgent transportation

Cost of equipment downtime

Costs for qualifying suppliers

Costs of handling inventory

Q64. Which of the following is the Japanese word for ‘billboard’ or ‘signboard’?

Muda

Kaizen

Poka-Yoke

Kanban

Q65. The ABC approach involves classifying inventory items by unit cost, with expensive items classi-fied as ‘A’ items and low cost items classified as ‘C’ items. Is this statement true?

Yes, ‘A’ items represent approximately 20% of total unit prices

Yes, ‘C’ items with the lowest unit prices are the tail spends

No, ABC analysis considers the usage of each inventory item

No, ABC analysis considers the supply risks associated with an inventory item

Q66. Which of the following best defines ‘exponential moving average’?

A forecasting technique where the average is calculated by dividing the sum of the val-ues by the number of values

A process by which the reorder of an item is triggered by the inventory level dropping to a predetermined level

A process by which a decision is taken at a period end or review point to determine how much to reorder

A forecasting technique where each demand is multiplied by a weighting factor

Q67. Which of the following is NOT an improvement available in ERP II in compare with ERP?

ERP II systems are closed and silo-working

ERP II enables the organisation to collaborate with trading partners across the supply chain

ERP II crosses all sectors and segments of business, including service, government and asset-based industries

ERP II offers better integration with other proprietary software

Q68. Which of the following best describes the term ‘periodic review’?

Items are reviewed and orders placed depending on requirements

Items are reviewed when the Kanban is triggered

Items are reviewed when the price is at its lowest

Items are reviewed as part of an imprest system

Q69. Which of the following should be considered when an organisation plans for disposing obsolescent and redundant stock? Select TWO that apply.

Financial costs

Economic order quantity

ABC analysis

Takt time

Environmental issues

Q70. Which of the following is the character that allows the computer to verify whether a product code is entered correctly?

3-digit prefix

Check digit

Radio frequency identification

Barcode

Q71. A restaurant needs to buy a new freezer. The owner applies total cost of ownership model to calcu-late the life-time cost of the freezer. This equipment has a price tag of $1,000, the supplier can offer free delivery if the restaurant pays off immediately. Estimated electricity consumption of the freezer is $200 in 5 years. The supplier ascertains that the freezer is very durable, buyer doesn’t need to care about maintenance costs. However, if the restaurant needs better protection from breakdowns, the warranty is free for the first 12 months after the purchase. This warranty package can be extended once for another 24-month period with the cost of $75. After 5 years, the buyer will be able to resell this freezer for $250. What would be the estimated total cost of ownership of this freezer if the restaurant owner buys the extended warranty package?

$1,025

$1,200

$1,275

$1,525

Q72. A supermarket calculates that the average holding cost for an item is $1.50 per cubic meter per day. A beer pallet which has volume of 0.5 cubic meter will be stored for 5 days. What is the holding cost of this beer pallet?

$4.00

$4.50

$4.25

$3.75

Q73. 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?

Postponement

Value stream mapping

Silo-working

Kanban

Q74. Which of the following is the cylindrical container that is suitable for liquids or loose material

Tote box

Drum

Industrial container

Storage bag