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intro to logistics chapter 3
Terms in this set (32)
Depending on industry and product type, reversal logistics costs as a percent of revenue can range between____ and ____ percent
Which of the following is not a level at which strategy can be formulated?
all of the following are levels at which strategy can be formulated
_____strategy is focused on determining the goals for the company, the types of businesses in which the company should compete, and the way the company will be managed
Strategy at a ______ level is primarily focused on the products and services provided to customers and on finding ways to develop and maintain a sustainable competitive advantage with these customers
Which of the following is not one of the generic strategies that can be pursued by an organization, as identified by strategist Michael Porter?
A___ strategy entails an organization developing a product and/or service that offers unique attributes that are valued by customers and that the customer perceives to be distinct from competitor offerings
Which generic strategy concentrates an organization's effort on a narrowly defined market to achieve either a cost or differentiation strategy?
A_____ entails the functional units of an organization providing input into the other levels of strategy formulation
hierarchy of strategy
which of the following represents the preferred hierarchy of strategy to be developed to the last to be developed?
corporate (business unit functional
_______strategy decisions involve issues such as the number and location of warehouses and the selection of appropriate transportation modes.
Which of the following is not a potential type of logistics strategy decisions?
all of the above are potential logistics strategy decisions.
investments in technology that support logistics activities,
selecting appropriate transportation modes,
deployment of inventory,
number and location of warehouses
When developing logistics strategy, a___ strategy refers to the management of logistics activities with a focus on costs
The___ shows revenue, expenses, and profit for a period of time
In general, the____measures the profitability of the products and?or services provided by a company
The____ reflects the assets, liabilities, and owners' equity at a given point in time
The balance sheet reflects the assets, liabilities, and ____ at a given point in time
Which of the following does not appear on the balance sheet?
The current ratio is calculated by dividing___ by____
total current assets; total current liabilities.
Which of the following is a common measure of organizational financial success?
return on investment
What provides the framework for conducting return on assets analysis by incorporating revenues and expenses to generate net profit margin, as well as inclusion of assets to measure asset turnover?
the strategic profit model
Return on assets equal:
net profit margin times asset turnover
Suppose that a logistics manager is able to eliminate some unnecessary inventory, which reduces the value of current assets as well as total asset value. What is the corresponding impact on inventory turnover and return on assets?
both inventory turnover and return on assets will increase
Which of the following is false?
All of the above are true
the strategic profit model can assist the logistics manager in the evaluation of cash flow and assist the logistics manager in the evaluation of cash flows and asset utilization decisions,
the SPM fails to consider the timing of cash flows,
the SPM is subject to manipulation in the short run,
the SPM fails to recognize assets that are dedicated to specific relationships.
What is the formula for net profit margin?
net profit divided by sales.
With respect to net profit margin, the most relevant categories for logistics managers to consider are:
sales, costs of goods sold, total expenses
What is the formula for asset turnover?
total sales divided by total assets
With respect to asset turnover, ____ is typically the most relevant logistics asset.
The balance scorecard approach is based on the belief that management should evaluate their business from___ distinct perspectives
Which of the following is not one of the perspectives evaluated in the balanced scorecard approach?
all of the following are perspectives in the balance sheet scorecard approach
internal business process,
learning and growth,
Logistics measurement systems have been traditionally designed to include information on how many types of performance?
Performance measurement in_____ is used to identify design and operations options that provide benefits in terms of increased speed or reduced costs
_____looks at how long an organization's cash is tied up in receivables, payables, and inventory
THIS SET IS OFTEN IN FOLDERS WITH...
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