CIPS L4M7 Exam Syllabus

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Before starting your L4M7 exam preparation, it is recommended to review the complete CIPS Whole Life Asset Management exam syllabus and carefully go through the exam objectives listed below. Once you understand the exam structure and objectives, you should practice using our free L4M7 questions. We also provide premium L4M7 practice test, fully updated according to the latest exam objectives, to help you accurately assess your preparedness for the actual exam.

CIPS L4M7 Exam Objectives

Section	Objectives
1.0 Understand methods for the storage and movement of inventory	1.1 Identify the principles, purpose and impact of stores and warehouse design Location of stores and warehouses Stores and warehouse design Factors that influence stores and warehouse layout Flow, space utilisation and flexibility 1.2 Explain the use of product coding in inventory operations Systems for product coding Bar coding Order tracking technologies The use of RFID technologies 1.3 Contrast the impact of the use of different warehousing equipment Approaches such as: Materials handling equipment Palletisation and unit loads Packing and packaging Environmental standards for packaging The use of automation in warehousing
2.0 Understand the key elements of effective inventory control	2.1 Differentiate between the different classifications of inventory Opening stock, work in progress, safety stock and finished goods Obsolescent and redundant stock Direct and Indirect supplies ABC classifications of stock that may apply Dependent demand and independent demand itemsof stock 2.2 Identify the direct and indirect costs of holding inventory Acquisition costs Holding costs Cost of stock outs Discuss options to reduce costs whilst mitigating any negative impact on service levels 2.3 Identify techniques associated with inventory control Subjective and objective forecasting Re-order quantities and levels MRP and MRPII ERP Just-in-time Lean Inventory performance measures – lead times, service levels, rate of stock turn, stock outs in a given period, stock cover
3.0 Understand the concept of through life cost	3.1 Analyse the contributing factors when establishing total cost of ownership Purchase price Hire or lease Acquisition costs Usage costs Maintenance costs Operation Utilities Training Disposal and end-of-life costs 3.2 Compare the factors to consider when building a total cost of ownership model Include all costs Use best estimates of values available Hidden costs – global sourcing, risks associated with extended supply chain Only develop for larger purchases Ensure senior management support Cross functional support – ensure access to data Team working – reduce data collection time 3.3 Identify the contributing elements to end-of-life costs Decommissioning Removal or disposal processes Legal aspects – waste management Environmental factors Triple bottom line – people, planet, profit
Official Information	https://www.cips.org/qualifications/diploma-in-procurement-supply/whole-life-asset-management

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