Whole Life Asset Management (L4M7)
Module purpose
On completion of this module, learners will be able to explain methods of inventory management, inventory analysis and the concept of whole-life asset management cost, from idea through to disposal.
Module aim(s)
Whole-life asset management takes into account the total cost of a product or service, from idea through to disposal including purchase, hire or lease, maintenance, operation, utilities, training and disposal. It is important for those involved in procurement and supply to take these elements into consideration when assessing options of buying, renting or leasing equipment. Although costly, there are a range of factors organisations assess to determine the approach to inventory, and the management and control of inventory is an important driver for organisational success. This module is designed for those with responsibility for the whole-life management of assets and enables learners to analyse methods for inventory movement and control and to consider the concept of whole-life asset cost.
Next steps
Starting a CIPS qualification programme means you will join the largest institute in the world for those working in procurement and supply. You can join as a student member online today. Once joined you can book your examinations online
