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CLTD Final Exam|| Complete Questions And Correct
Answers With Rationales (Verified Answers) |Already
Graded A+||Latest Update!!!
According to the service attribute matrix, if logistics
performs at a low level on an unimportant service level
attribute according to the customer, it is called... -
ANSWER-Relative Importance
What is the term for the comprehensive measure of
service levels? - ANSWER-Fill Rate
Billing adjustments, profit margins, and customer
complaint statistics are common metrics for... - ANSWER-
Processes
What is the first step in the process of developing a CSM
strategy? - ANSWER-Analyze the current relationships
with customers
What metric is closely tied to the customer service ratio?
-Order delivery frequency
-SKU Fill Rate
-Product Recall Rate
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-Stockout Frequency - ANSWER-Stockout Frequency
What category in ABS analysis of inventory will contain the
most SKUs? - ANSWER-C
A distributor instructs pickers to document remaining
inventory on order lists as they remove items. The results
are aggregated to determine current inventory. What type
of cycle counting does this illustrate? - ANSWER-Demand
Order
For what situation would a two-bin inventory review
system be appropriate? - ANSWER-The impact on
customer service is likely and costly
What is the desired goal for inventory accuracy stated in
the APICS dictionary? - ANSWER-95-99%
A manufacturer maps inventory time in the pipeline and
finds that non-value-added time is almost as high as
value-added time. What should the business do first? -
ANSWER-Conduct a thorough process analysis
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How is the number of inventory turns calculated? -
ANSWER-COGS / Avg. Inventory
Coordinating the lot sizing and order release decision for
related items and treating them as a family of items -
ANSWER-Joint Replenishment
The actual value inventory approach assigns value to
inventory based on ______ - ANSWER-lots
When is an order's size most economical? - ANSWER-
When acquisition costs are at their lowest point
Stock needed to meet normal demand before
replenishment - ANSWER-Cycle Stock
How do you calculate standard deviation using the MAD
formula? - ANSWER-1.25*MAD
What costs are included in a business's inventory carrying
cost percentage? - ANSWER-Equipment leases, financing
charges, and taxes
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How is the value of inventory determined in a FIFO
system? - ANSWER-Value is based on that of the oldest
inventory
How are economies of scale most commonly achieved in
terms of inventory? - ANSWER-Procurement, production,
and transportation tactics
What is "Actual Capacity" in the context of warehouse
management? - ANSWER-Percentage of total capacity
used for storage
What is the primary influence on the contents and design
of case and pallet labelling? - ANSWER-National
regulations and international conevntions
What is the major distinction of a 2D bar code? -
ANSWER-It can be read in either direction
What is the benefit to using slip sheets? - ANSWER-
Reduced Weight
What is the purpose of the master carton? - ANSWER-
Contain and protect multiple items in their own packaging
CLTD Final Exam|| Complete Questions And Correct
Answers With Rationales (Verified Answers) |Already
Graded A+||Latest Update!!!
According to the service attribute matrix, if logistics
performs at a low level on an unimportant service level
attribute according to the customer, it is called... -
ANSWER-Relative Importance
What is the term for the comprehensive measure of
service levels? - ANSWER-Fill Rate
Billing adjustments, profit margins, and customer
complaint statistics are common metrics for... - ANSWER-
Processes
What is the first step in the process of developing a CSM
strategy? - ANSWER-Analyze the current relationships
with customers
What metric is closely tied to the customer service ratio?
-Order delivery frequency
-SKU Fill Rate
-Product Recall Rate
,2|Page
-Stockout Frequency - ANSWER-Stockout Frequency
What category in ABS analysis of inventory will contain the
most SKUs? - ANSWER-C
A distributor instructs pickers to document remaining
inventory on order lists as they remove items. The results
are aggregated to determine current inventory. What type
of cycle counting does this illustrate? - ANSWER-Demand
Order
For what situation would a two-bin inventory review
system be appropriate? - ANSWER-The impact on
customer service is likely and costly
What is the desired goal for inventory accuracy stated in
the APICS dictionary? - ANSWER-95-99%
A manufacturer maps inventory time in the pipeline and
finds that non-value-added time is almost as high as
value-added time. What should the business do first? -
ANSWER-Conduct a thorough process analysis
,3|Page
How is the number of inventory turns calculated? -
ANSWER-COGS / Avg. Inventory
Coordinating the lot sizing and order release decision for
related items and treating them as a family of items -
ANSWER-Joint Replenishment
The actual value inventory approach assigns value to
inventory based on ______ - ANSWER-lots
When is an order's size most economical? - ANSWER-
When acquisition costs are at their lowest point
Stock needed to meet normal demand before
replenishment - ANSWER-Cycle Stock
How do you calculate standard deviation using the MAD
formula? - ANSWER-1.25*MAD
What costs are included in a business's inventory carrying
cost percentage? - ANSWER-Equipment leases, financing
charges, and taxes
, 4|Page
How is the value of inventory determined in a FIFO
system? - ANSWER-Value is based on that of the oldest
inventory
How are economies of scale most commonly achieved in
terms of inventory? - ANSWER-Procurement, production,
and transportation tactics
What is "Actual Capacity" in the context of warehouse
management? - ANSWER-Percentage of total capacity
used for storage
What is the primary influence on the contents and design
of case and pallet labelling? - ANSWER-National
regulations and international conevntions
What is the major distinction of a 2D bar code? -
ANSWER-It can be read in either direction
What is the benefit to using slip sheets? - ANSWER-
Reduced Weight
What is the purpose of the master carton? - ANSWER-
Contain and protect multiple items in their own packaging
