Download Certification in Logistics, Transportation and Distribution.CLTD.Prep4Sure.2018-11-07.65q.vcex

Vendor: APICS
Exam Code: CLTD
Exam Name: Certification in Logistics, Transportation and Distribution
Date: Nov 07, 2018
File Size: 32 KB
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Demo Questions

Question 1
An operations manager in concerned that the order-to-cash cycle for their largest customer is too long. The manager is referring to the time that elapses from when 
the company receives an order from the customer until the:
  1. customer processes payment.
  2. warehouse in notified to ship the goods.
  3. customer receives that order in inventory.
  4. company receives payment.
Correct answer: C
Question 2
Consignment inventory requires that manufacturers:
  1. deliver their products to the consumer and payment from consumers is based on supply.
  2. stock their products on retail stores shelves and payment from consumers is based on forecast.
  3. deliver their products to the consumer and wait for payment until consumers requires to refill stock level.
  4. stock their products on retail stores shelves and wait for payment until consumers purchase the product.
Correct answer: D
Explanation:
Question 3
Which of the following inventory ordering techniques would a company’s corporate warehouse utilize if it is interested in meeting both the quantity and timing requirements of demand from its regional warehouses?
  1. Distribution requirements planning (DRP)
  2. Fixed order quantity/variable cycle
  3. Periodic review
  4. Kanban
Correct answer: D
Question 4
A firm offers their customers shorter order cycle times and increased product variety. Generally, this action would have which of the following impacts on total logistics costs?
  1. Increases total logistics costs
  2. Reduces total logistics costs
  3. Has no impact on total logistics costs
  4. Only affects service levels, not costs
Correct answer: C
Question 5
According to the Theory of Comparative Advantage, which of the following reasons justifies a country to export a product?
  1. The exporting country produces the product utilizing less labor than other countries.
  2. The exporting country’s wage rate in producing the good is lower than in other countries.
  3. The exporting country’s productivity is higher in producing the good than the productivity of other countries.
  4. The exporting country’s cost of producing the good, relative to other goods, is at least as low as in other countries. 
Correct answer: A
Question 6
A non-profit transportation membership cooperative that arranges for the domestic or international shipment of member’s cargo over any mode of transportation is known as a(n):
  1. freight bureau.
  2. freight broker association.
  3. shipper’s association.
  4. integrated service provider.
Correct answer: C
Question 7
Which of the following statements best reflects the intent of a shipper and a carrier who are negotiating a contract utilizing the integrative bargaining technique? 
  1. The shipper is integrating its shipping needs and the carrier is integrating its market power to achieve better contract terms individually.
  2. The shipper and the carrier are attempting to understand each other’s needs to create mutually beneficial contract terms.
  3. The shipper and the carrier are making an integrated effort to make extreme demands followed up by small, slow concessions.
  4. The shipper and the carrier are in direct conflict with each other’s goals and are attempting to take advantage of each other.
Correct answer: A
Question 8
In the economic utility function of logistics, logistics adds:
  1. form and time utilities to products, while other activities add place and possession utilities.
  2. possession and place utilities to products, while other activities add form and possession utilities.
  3. place and time utilities to products, while other activities add form and possession utilities.
  4. possession and form utilities to products, while other activities add time and place utilities.
Correct answer: C
Question 9
Which of the following prerequisites is essential in order to establish an effective order management system?
  1. An ability to reserve inventory and determine a delivery date
  2. An ability to understand customer needs
  3. An ability to plan and build loads
  4. An ability to receive, enter, and validate an orders
Correct answer: C
Question 10
In a retail firm’s implementation of vendor-managed inventory (VMI), what trading partners are responsible for setting target inventory levels and making restocking decisions? 
  1. Retail consumers and vendors
  2. Retailer and its suppliers
  3. Retailer and its buyers
  4. Retail consumers and retailers
Correct answer: B
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