CLTD Question and answers correctly solved 2024/2025
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Course
CLTD - Certified in Logistics
Institution
CLTD - Certified In Logistics
CLTD Question and answers correctly solved 2024/2025 CLTD - Module 6 Inventory Management
Inventory Planning - correct answer The activities and techniques of determining the desired levels of items, whether raw materials, work in process, or finished products including order quantities and s...
CLTD - Module 6 Inventory Management
Inventory Planning - correct answer ✔The activities and techniques of
determining the desired levels of items, whether raw materials, work in
process, or finished products including order quantities and safety stock
levels.
Inventory Control - correct answer ✔The activities and techniques of
maintaining the desired levels of items, whether raw materials, work in
process, or finished products.
Inventory - correct answer ✔Those stocks or items used to support
production (raw materials and work-in-process items), supporting activities
(maintenance, repair, and operating supplies) and customer service (finished
goods and spare parts).
Goal of Inventory Management - correct answer ✔balance the cost of
holding vs meeting customer's desired level of service and profit
Work In Process (WIP) - correct answer ✔A good or goods in various stages
of completion throughout the plant, including all material from raw material
that has been released for initial processing up to completely processed
material awaiting final inspection and acceptance as finished goods inventory.
Decoupling - correct answer ✔Creating independence between supply and
use of material. Commonly denotes providing inventory between operations
so that fluctuations in the production rate of the supplying operation do not
constrain production or use rates of the next operation.
, Economy of scale - correct answer ✔A phenomenon whereby larger
volumes of production reduce unit cost by distributing fixed costs over a larger
quantity.
Bullwhip Effect - correct answer ✔customer order changes increase order
sizes as you move upstream in the supply chain, all the way to raw materials.
Reinforced by supply variability and can be mitigated through VMI.
Stockout Percentage - correct answer ✔A measure of the effectiveness with
which a company responds to actual demand or requirements.
Antonym: customer service ratio.
Level of service - correct answer ✔a measure of satisfying demand through
inventory or by the current production schedule in time to satisfy the customer
delivery date and quantities
Inventory Shrinkage - correct answer ✔reductions of actual quantities of
items in stock, in process, or in transit.. caused by scrap, theft, etc.
Return on Assets Ratio (ROA) - correct answer ✔Net Profit for previous
year/Total Assets
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