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CIPS Level 4 Diploma in Procurement and Supply Whole Life Asset Management

Whole Life Asset Management

Last Update May 6, 2024
Total Questions : 135

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Questions 4

In the Appendix A of a long-term supply contract of Bulk Drug Substance, both parties agree that "The reference price for Bulk Product at the specification, per gram, shall be US$10. The unit price for Bulk Product for a specific Purchase Order shall be computed by multiplying the above- specified reference price by two corrective factors, namely inflation correction factor and exchange rate correction factor". This pricing appendix is an example of...?

Options:

A.  

Discounted pricing

B.  

Fixed pricing

C.  

Volume-based pricing

D.  

Adjustable pricing

Discussion 0
Questions 5

A company has obsolete inventories and it must write off these inventories. How does writing off inventories impact on the company's financial statements?

1. Stock increases

2. Stock decreases

3. Profit increases

4. Profit decreases

Options:

A.  

2 and 4 only

B.  

1 and 3 only

C.  

2 and 3 only

D.  

1 and 4 only

Discussion 0
Questions 6

Which of the following is the core idea of Lean manufacturing?

Options:

A.  

New product development

B.  

Waste elimination

C.  

Improving response to erratic demand

D.  

Business Continuity Planning

Discussion 0
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Questions 7

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

Options:

A.  

Non value-adding steps in a process

B.  

Part of activity when operator is idle

C.  

Part of any activity which is inevitable

D.  

Rejection of material because of quality related problems

Discussion 0

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