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L4M7 Exam Dumps : Whole Life Asset Management

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Whole Life Asset Management Questions and Answers

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Question 1

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

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Question 2

Which of the following are essential aspects that are required for the successful implementation of Just-In-Time (JIT)? SelectTWOthat apply.

Options:

A.

The purchasing of parts in bulk at lower prices covers the costs of delivery and storage required for JIT

B.

Parts must arrive where they are needed, when they are needed, and in the exact quantity needed

C.

All parts arriving must be of a quality standard which is usable and free from defects

D.

The cost of carrying increased parts inventory to meet customer demand is transferred to the customer

E.

Suppliers must hold a buffer stock of components to ensure that they are able to meet JIT demand

Question 3

Which of the following are recognised hidden costs associated with global sourcing?

    Quality control and nonconformance costs

    Increased lead times and inventory carrying costs

    Lower labour and wage costs

    Cost of tariffs and duties in supply chains

Options:

A.

1 and 2

B.

2 and 3

C.

3 and 4

D.

1 and 4

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