A life cycle asset management plan provides a comprehensive framework for planning, budgeting, and resource allocation throughout the asset's life. It considers costs from acquisition to disposal, ensuring that assets are managed efficiently and cost-effectively over their full lifecycle, which is central to whole-life asset management strategies.

For single items, an extra investment in inventory (higher levels of safety stock) will always in-crease customer service levels. Conversely, higher service levels imply larger quantities of safety stocks and an increased investment in inventory. (Procurement and Supply Chain Management - 9th Edition) Reference: CIPS study guide page 104-105 LO 2, AC 2.2

The triple bottom line is a sustainability framework that examines a company's social, environment, and economic impact (or People, Planet, Profit). ASI Ltd practice would reduce the waste into the environment as well as keep the business more profitable. So the correct answer should be Planet and Profit.
Reference:
- 25 Years Ago I Coined the Phrase "Triple Bottom Line." Here's Why It's Time to Rethink It.
- CIPS study guide page 202
LO 3, AC 3.3