In reality most operations have a much more diverse product mix and will require much more system setup.
Setting up the physical characteristics of the product and locations is only part of the picture.
It’s very common to combine multiple logic methods to determine the best location. For example you may chose to use pick-to-clear logic within first-in-first-out logic when there are multiple locations with the same receipt date. You also may change the logic based upon current workload. During busy periods you may chose logic that optimizes productivity while during slower periods you switch to logic that optimizes space utilization.