CIPS L4M7 Whole-Life Asset Management

About Course

This module covers inventory management methods, storage, and the concept of whole-life costing—from initial idea through to final disposal.

Identify principles of warehouse design, space utilisation, and product coding (RFID, Barcoding).
Contrast different classifications of inventory, such as raw materials, WIP, and safety stock.
Calculate the direct and indirect costs of holding inventory and the cost of stockouts.
Apply inventory control techniques like JIT, MRP, and ERP.
Establish whole-life costs, including acquisition, usage (maintenance/utility), and disposal costs.
Apply the "Triple Bottom Line" (people, planet, profit) to asset management.

Volumes of Stock and Lead Time Considerations
Factors Influencing Locations of Storage
Deciding on Storage Facilities and Locations
Check Digits and Validation: Reducing Errors in Inventory and Stock Codes
Structured Product Codes for Low-Volume and Special Projects : Managing Special-Order Parts for Low-Volume Vehicle Projects
The Use of Radio-Frequency Identification (RFID) Technologies: Improving Inventory Visibility and Loss Prevention
Advantages and Disadvantages of Using Containers (Containerisation): Selecting Sea Containers for International Shipments

Raw Materials, Opening Stock, Work in Progress (WIP), Safety Stock and Finished Goods: Balancing Inventory Across the Production Process
Obsolescent and Redundant Stock: Rising Inventory Write-Offs
ABC Classification of Stock (Pareto / 80–20 Rule): Too Many Stockouts… and Too Much Cash Tied Up
Identifying the Direct and Indirect Costs of Holding Inventory: The Warehouse Looks Full… but Cash Feels Tight
Using Lead Times and Costs of Holding as Part of a Price Evaluation: The Cheapest Price… but the Warehouse Keeps Growing
Reorder Quantities and Levels: Stockouts on Fast Movers, Overstock on Slow Movers
MRP II (Manufacturing Resource Planning) and Dependent vs Independent Demand Stock: Why Do We Run Out of Bolts When Sales Go Up?
Value Stream Mapping Tools: Improving Flow Without Adding Cost
Inventory Performance Measures (Lead Times, Service Levels, Stock Turn, Stockouts, Stock Cover) “We Have Stock… But Customers Still Complain”

Add this certificate to your CV to show CIPS commitment and boost career visibility. Share it on LinkedIn.

No Review Yet