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CIPS M4L7 (Whole Life Assessment Management) LO1 STUDY QUESTIONS AND ANSWERS RATED A.
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CIPS M4L7 (Whole Life Assessment Management) LO1 STUDY QUESTIONS AND ANSWERS RATED A.
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CIPS M4L7 (Whole Life AssessmentManagement) LO1 STUDY QUESTIONS AND
ANSWERS RATED A.
What is a bottleneck?
Correct Answer -a restriction inside a warehouse, store or stockyard that
holds up or slows down activity. this may be caused by poor layout,
access difficulties or simply the volume of picking or storage being
handled
what is flexible warehousing?
Correct Answer -used to describe any technique which allows the short-
term ability to increase or decrease storage space
what is consignment stocking?
Correct Answer -a facility offered by a supplier to a buyer to allow a
delivery of stock to the buyer with payment only after it is used or sold to
a customer
what are the systems for product coding?
Correct Answer -- own product code system
- manufacturers code system
- customer product code system
- industry standard code system
- multiple codes
what is a stock keeping unit (SKU)?
Correct Answer -an identifiable item from stock. organisations may assign
, individual SKU numbers of their own design or use industry or company
standard numbers
what are check digits?
Correct Answer -numbers added to product codes which allow computer-
based validation. these are usually created using specific number
sequences and are designed to reduce the probability of errors
what are product codes?
Correct Answer -a means of identifying specific products - but they often
support the use of internal and external systems which help efficiency and
effectiveness in organisations
what can bar codes be used for?
Correct Answer -- identifying individual products
- identifying groups of products
- identifying the content of a purchase order or delivery
- identifying the batch that items come from
- identifying the original producer
what are fixed assets?
Correct Answer -an accounting term used to describe items acquired by an
organisation which are not routinely sold but used within the organisation
what is an RFID?
Correct Answer -items which use radio technology for identifying itself
and its location, subject to having the appropriate hardware and software
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