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Whole Life Asset Management Question and Answers

Whole Life Asset Management

Last Update May 18, 2024
Total Questions : 135

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Questions 1

A group of items which are stacked together for more convenient movement is called...?

Options:

A.  

Unit load

B.  

Load cell

C.  

Stacker

D.  

Unit price

Discussion 0
Questions 2

Which of the following can replace pallets as bases for unit loads but they require push pull acces-sories to retrieve or discharge unit load?

Options:

A.  

Shrink wraps

B.  

Post pallets

C.  

Skids

D.  

Slip sheets

Discussion 0
Questions 3

A brewery sells its beer in aluminum cans. It recycles the cans by using contractors to collect and mold the used cans. This is an example of...?

Options:

A.  

Closed-loop recycling

B.  

Carbon recycling

C.  

Open-loop recycling

D.  

Reuse

Discussion 0
Questions 4

In the periodic review system, the order quantity is the same for each order. Is this statement true?

Options:

A.  

No, the next order quantity must be larger than the previous one

B.  

No, the inventory position at each review point differs from each other

C.  

Yes, in periodic review system items are reviewed when the Kanban is triggered

D.  

Yes, the order quantity should be equal to economic order quantity

Discussion 0
Questions 5

PPC Refinery (UK) must close down an out-of-date refinery which has very poor environmental performance. The refinery is very sophisticated with many technically complicated machineries, lubricants, coolants and other chemical substances. Decommissioning the refinery is highly risky and hazardous. To manage the decommissioning process well, PPC project team must know these machineries and substances in details. Which document can provide the technical details on the refinery?

Options:

A.  

Original specifications

B.  

Non-disclosure agreement

C.  

Code of Conduct

D.  

Corporate social responsibility policy

Discussion 0
Questions 6

Which of the following statements is true?

Options:

A.  

All indirect supplies are independent demand items

B.  

Number of independent demand items may be derived from the forecast

C.  

Dependent demand items are not directly correlated with production rate

D.  

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

Discussion 0
Questions 7

Objective forecasting techniques must be based on which of the following?

1. Opinions

2. Figures

3. Facts

4. Jugdement

Options:

A.  

3 and 4 only

B.  

1 and 2 only

C.  

2 and 3 only

D.  

1 and 4 only

Discussion 0
Questions 8

Which of the following correctly describes the triple bottom line?

Options:

A.  

Professional, Planet, Profit

B.  

People, Planet, Project

C.  

People, Product, Profit

D.  

People, Planet, Profit

Discussion 0
Questions 9

The optimum balance in the standard ISO 18602:2013 (Packaging and the environment — Optimi-zation of the packaging system) considers which of the following factors?

1. Environmental impact of losses due to lack of packaging

2. The process for packaging design, including material selection

3. Procedures and requirements for packaging that are suitable for organic recycling

4. Environmental impact of excess packaging

Options:

A.  

2 and 3 only

B.  

2 and 4 only

C.  

1 and 3 only

D.  

1 and 4 only

Discussion 0
Questions 10

XYZ Ltd is a major distributor of electrical equipment protection products in the United States. XYZ found that there was a lack of communication between the company and its key supplier, leading to the supplier trying to predict distributor needs and distributor attempting to estimate lead times. Essentially, both the supplier and the distributor have different sets of information, spending time and money trying to predict what the other will do. To deal with this problem, XYZ Ltd decides to implement new inventory management method in which the supplier manage the replenishment of items for sale. Both parties are obliged to share information on variations in demand and stock levels for goods used for or sale. Which inventory management method is XYZ Ltd implementing?

Options:

A.  

Reverse logistics

B.  

Floor-ready merchandise

C.  

Vendor managed inventory

D.  

Economic order quantity

Discussion 0
Questions 11

Among different types of costs associated with inventory, the costs of obtaining purchase approvals are...?

Options:

A.  

Purchasing price

B.  

Costs of stockouts

C.  

Acquisition costs

D.  

Holding costs

Discussion 0
Questions 12

ASI Ltd is known for its commitment to sustainability. ASI builds railroad ties and pilings using recycled plastic bottles and industrial waste instead of standard materials such as wood, steel, and cement. This practice helps the company save 15% in compare with traditional material purchases. Which pillar of sustainability would include the practice of ASI Ltd?

Options:

A.  

People and Planet

B.  

Profit and Expense

C.  

Planet and Profit

D.  

Profit and People

Discussion 0
Questions 13

Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:

Options:

A.  

Carousel

B.  

Grab

C.  

Order picker

D.  

Scissor platform

E.  

Stacker crane

Discussion 0
Questions 14

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

Options:

A.  

Financial costs

B.  

Economic order quantity

C.  

ABC analysis

D.  

Takt time

E.  

Environmental issues

Discussion 0
Questions 15

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?

Options:

A.  

$1,025

B.  

$1,200

C.  

$1,275

D.  

$1,525

Discussion 0
Questions 16

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

Options:

A.  

ERP II systems are closed and silo-working

B.  

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

C.  

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

D.  

ERP II offers better integration with other proprietary software

Discussion 0
Questions 17

Which of the following costs does the EOQ minimise?

Options:

A.  

Total cost of safety stock

B.  

Total cost of ordering inventory

C.  

Total cost of annual inventory cost

D.  

Total cost of carrying stock

Discussion 0
Questions 18

MRP software is a powerful tool for managing material requirements of manufacturing processes. To keep the software function well, an organisation must have appropriate input data. Which of the following are the inputs of MRP software? Select THREE that apply.

Options:

A.  

Master production schedule

B.  

Bill of materials

C.  

Capacity requirement plan

D.  

Payrolls information

E.  

Facilities management

F.  

Inventory records

Discussion 0
Questions 19

What are the contents of master production schedule in MRP system?

Options:

A.  

The investment required for production

B.  

How many final products will be made and when to make them

C.  

The total number of labour required to produce the final product

D.  

What components and materials are and when to purchase them

Discussion 0
Questions 20

Which of the following is an assumption of economic-order-quantity model?

Options:

A.  

The quantity ordered can vary at each reorder point

B.  

Demand, ordering costs, and carrying costs are uncertain

C.  

No inventory stockouts occur

D.  

The purchasing cost per unit is affected by the order quantity

Discussion 0