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Logistics Test 1

The fundamental role of a manager is the finite assignment of _____ to ______
resources, tasks
The “most efficient frontier” on the TC-CLS graph is the line along which
costs are at the theoretical minimum for a given level of customer service
The desired outcome (focus) of decisions made about supply chain tradeoffs is to
drive the CLS/TC ratio higher
An overall measure of logistics system performance that allows for better global decision making among various trade-offs is the “Bang/Buck” ratio or the
customer service level per total logistics cost
The demographics of our society has changed because
of the increase in two-career families and single-parent households
Cost/Value refers to
the importance of cost and value at the very end of the supply chain
The Supply Chain Concept
developed from the previous Physical Distribution concept
Most retailers are essentially supply chain companies since
they buy products produced by other
It can be argued that ____ is the second language of logistics and supply chain management
finance
The products dollar value typically affects the cost of logistics activities. Which is not one of these costs?
promotion costs
Ensuring the availability of the right product, in the right quantity, and the right condition, at the right place, for the right customer at the right cost, is which definition of logistics
Seven Rs
What technology has helped make the physical inventory-taking process more efficient and effective?
scanning of bar-coded RFID tags
Logistics creates which utility through production forecasting, production scheduling and inventory control?
quantity utility
Which is the main advantage of international air transport?
transit times
Gemini Products……
export trading company
A maquiladora plant is
a US plant performing, processing, or assembly activity in Mexico
In his book “The Wealth of Nations”, Adam Smith stated that economics and companies could improve their wealth by
allowing specialization of tasks
A demand-driven system is also known as
a pull system
The least-frequently used IT-baased services by customer of 3PL’s are:
strategic and customer-related
Full collaboration is the dynamic combination of
both vertical and horizontal collaboration
Approximately two-thirds of 3PL customers think their providers supply
tactical or operational services
Which of the following is not an element of Order Management?
optimizing mode mix
The current logistics management approach is supported by which performance measurement concepts?
least total cost
What is the best financial metric to show the profit an organization generates in relationship to assets utilized?
ROA
The”Value Proposition” that must be satisfied for the “invisible hand” to move goods from areas of surplus to areas of shortage holds that the _____ must be _____ the _____
change in total value, greater than, change in total cost
The three prerequisites that must be satisfied for goods to move “naturally” from areas of surplus to areas of shortage are that the change in total value is greater than the change in total cost, _____, and _____
market conditions exist, government does not prohibit
Which of the following is not one of the three main microeconomic forces driving the explosive growth in international trade since 1944:
time and place utility
The “product mix/assortment” problem refers to rapidly increasing costs as a result of
trying to serve the last 1-3 percent of customer demand with ever increasing inventory
Some individuals describe the current consumer as the “click here” generation because
we no longer wait for information to be “pushed out” to us
Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape?
environmental concerns
One of the major challenges of supply chain management is
maintaining the visibility of inventory
What are fixed spatial points where goods stop for storage or processing?
nodes
All four subdivisions of logistics have some characteristics. Which of the below does not belong in the list:
marketing
An important sustainability issue that has received much more scrutiny in recent years is the:
focus on adequate inventory levels
The value that is added to good through a manufacturing or assembly process is:
from utility
An ______ inverse relationship exists between the cost of lost sales and inventory cost
inverse
Which is a major category of ocean shipping?
charter vessels
Focused production is
a strategy in which a given plant produces one or two items of the company’s total product time
A critical ingredient for the Third Era of globalization is:
technological advances, especially in information technology and communications
The supply chain should
manage materials and products, information, financials, and demand
Horizontal collaboration refers to a relationship that is ____ and/or ____
buyer to buyer and/or seller to seller
Many organizations are working more closely with
customers, suppliers, and various types of logistics suppliers
Scorecard and key performance indicators (KPIs) refer to
metrics to manage logistics
In deploying supply chains across global markets, management seek to identify opportunities where
differential value is high and total cost is low
Two primary economic elements driving the rapid increases in global trade over the last 50 years are
increase availability of information and reduced transportation costs
A critical outcome of the supply chain is to deliver
the right product to the right place
One of the major challenges of supply chain management is
maintaining the visibility of inventory
Performance measurement is important because
lower-level metrics in an organization must connect directly to the high-level performance to achieve goals
Marketers have begun to recognize the strategic value of place in the marketing mix, as well as the benefits resulting from high-quality logistical services. As a result, which has been recognized as the interface activity between marketing and logistics
customer service
What is often the largest components of logistics costs?
transportation costs
materials handling is concerned with
short-distance movement
The utility that is created by moving goods from production points to market points where demand exists is referred to as:
place
Which type of global logistics channel intermediary enables goods to move through outcomes more easily by consolidating small shipments into more economical sizes?
foreign freight forwarder
Globalization was initially driven by countries
seeking materials and goods not available in their own land
The global logistics channel intermediary that supervisor the movement of goods through customs and ensures that the documentation accompanying a shipment is complete and accurate is known as
a customs house broker
Whether the relationship may or may not be with a provider of logistics services, today’s supply chain relationships are most effective when collaboration occurs among the _____ who are involved
participants
A third-party logistics may be defined as
an external supplier that performs or manages all or part of a company’s logistics functions
Effective order management can have an impact on
all of these answers
An “executive dashboard” is
a small number (usually less than five) of KPIs
The “infrastructure” zone on the TC/CSL tradeoff curve is characterized by
fixed costs rising more rapid than output (service)
A critical outcome of the supply chain is to deliver
cost/value
Time utility depends on
having the product available when the user wants it
Which of the following is an example of the creation of form utility by a logistics activity?
the breaking bulk and repackaging at a distribution center
Which are the major modes of inter nation transportation?
water and air
A third-party logistics from may be defied as
an external supplier that performs or manages as or part of a company’s logistics functions
While available evidence supports the fact that the president or CEO and the finance executive are often involved with the identification of the need for logistic services
executives from other areas in the company are also aware of such needs but to a lesser degree
Traditionally, information has been viewed as flowing in the opposite direction of products, that is, from the market/customer back to the wholesalers, manufactures, and vendors
None of these answers
The challenge to develop and sustain an efficient and effective supply chain(s) requires organizations to address a number of issues. Which is not included?
inventory carrying costs
Goods can be stored in a bonded warehouse
for up to 3 years
Which category of ocean offers set schedules over specified sea routes
liner service
Channel structure management includes decisions regarding the use of outsourcing, channel inventories, ______ and channel structure
information systems
Which of the following is not a supply chain decision are regarding ROA improvement?
information management
The three broad requirements for “market conditions” to exist in general include buyer and seller must be aware of each other, ____, and _____
legal system of contract enforcement, means of exchange (currency)
The “most efficient frontier” on the TC-CSL graph is the line along which
efficiencies are realized
The three fundamental forms of utility under capitalist economic theory are:
possession, form, and time/space
Logistics, in its simplest form
combines inbound logistics with the outbound logistics of physical distribution
America’s ports are a key component of its global commerce. US ports also play a vital role for the cruise industry. Which of these is not one of the top three departure ports for the cruise industry?
Cape Liberty, New Jersey
Water cruisers is located in Jacksonville, Florida…..
heavy inbound
Complexity in the supply chain is cause by
all of these answers
Outsourcing involves
obtaining materials, parts, and products from other companies
Another driving influence for supply chain reexamination has been the desire of organizations to change their supply chain focus from a ____ to an “investment” center
cost center

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