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Logistics

Terms in this set (67)

Logistics clearly contributes to ______ and ____ utility
Time & Place
How well a company does what it says it's going to do represents:
Effectiveness
World trade grew at an average annual rate of approximately ___ percent between 1997 and 2007?
6%
The movement and storage into a firm refers to what?
Materials Management
Logistics managers use the _______ approach to coordinate inbound logistics materials management and physical distribution in a cost effective manner.
Total cost
A cost trade-off is a situation where
Some costs increase, some decrease, and the net effect is that total costs decrease.
The ____ department often measures inventory in terms of cost or value in dollars whereas ____ tends to measure inventory in terms of units.
Finance, Logistics
The four basic components of the marketing mix include all of the following except: price, production, product, place
Production
_______ refers to being out of an item at the same time there is a demand for it.
Stock out
Which of the following is not a benefit of utilizing information in logistics
A. Greater knowledge and visibility across the supply chain
B. Greater awareness of customer demand via point of sales
C. Better coordination of manufacturing, merchandising, and distribution through ERP tools
D. More streamlined order process and reduced lead time
E. All are benefits
E - All are benefits
How do data and information differ?
Data is simply facts; information is a body of facts in a format suitable for decision making.
_____ provide effective ways to process organizational business data, to perform calculations and to create documents
Office Automation Systems
Spreadsheets represent what general type of information management system?
Office Automation Systems
The most relevant general software package for logistics is:
Spreadsheets
Which of the following is not considered a general software package:
A - Spreadsheets
B - Word Processing
C - Database Management
D - Presentation Packages
E - All of these are general software packages.
E - All of these are general software packages.
________ help various stakeholders - employers, suppliers', customers - work together by interacting and sharing information in many different forms.
Communication Systems
What has emerged as the measuring stock for logistics communication technology in the 21st century?
Wireless Communication
____ refers to a network of satellites that transmits signals that pinpoint the exact location of an object
Global Positioning Systems (GPS)
Electronic data interchange represents what general type of information management system?
Transaction processing system
Depending on industry and product type, reverse logistics costs as a percent of revenue can range between ___ and ___ percent.
3% , 6%
_______ Strategy is focused on determining the goals for the company, the types of business in which the company should compete, and the way the company will be managed.
Corporate - level
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
Differentiation
Which of the following represents the preferred hierarch of strategy (i.e. from the first strategy to be developed to the last to be developed.)?
Corporate to Business unit to functional
______ Strategy decisions involve issues such as the number and location of warehouses and the selection of appropriate transportation modes.
Logistics
The _____ shows revenues, expenses and profit for a period of time
Income Statement
The ______ reflects the assets, liabilities and owners equity at a given point in time.
Balance Sheet
The current ratio is calculated by dividing ______ by _______
Total current assets, total current liabilities
Which of the flowing is a common measure of organization financial success?
Return on Investment
Return on assets equals
Net profit margin times asset turnover
______ And ______ are the two basic organizational structures associated with logistics.
Fragmented, Unified
Which of the following is an advantage of a centralized logistics organization?
Good opportunities for freight consolidation
____ refers to satisfying current and emerging customer needs
Relevancy
_____ Refers to the amount of output divided by the amount of input
Productivity
Which of the following is a way to improve productivity?
A. Increase the amount of input while holding output constant
B. Decrease the amount of output while holding input constant
C. Increase input while at the same time decreasing output
D. Increase output while holding input constant
D. Increase output while holding input constant
Productivity improvement efforts in logistics are often directed towards:
Increasing output while holding input constant
What is the most important purpose of warehouse work rules?
to keep employees from engaging in unproductive and potentially destructive activities
The materials stolen in ______ are usually for the employees own use
Pilferage
What is the primary difference between pilferage and theft?
pilferage involves a firm's own employees, while theft involves efforts from outsiders
The concept of logistic social responsibility or corporate social responsibility issues that relate directly to logistics, did not emerge until which decade?
1990 - 1999
The supply chain management philosophy emerged in which decade?
1990s
A_______ encompasses all activities associated with the flow and transformation of goods from the raw material state, through the end user, as well as the associated information flows.
Supply Chain
Which of the following are not key attributes of supply chain management?
A. Inventory control
B. Leveraging technology
C. Customer power
D. A long-term orientation
E. All are key attributes
E. All are key attributes
Contemporary supply chains should be fast and _____.
Agile
An organization's ability to respond to changes in demand with respect to volume and variety refers to ____.
Agility
Simultaneous achievement of relevant customer metrics
Perfect Order
_______ refers to the raw materials, component parts, and supplies bought from outside organizations to support a company's operations
Procurement
Procurement costs often range between __ - __ of an organization's revenues
60 - 80%
Procurement's historical focus in many organizations was to ____
Achieve the lowest possible cost
Procurement and ____ are viewed as synonymous terms
Purchasing
Which of the following is not a potential benefit associated with procurement cards (P-cards)?
Ability to use them in non domestic markets
______ is the third step of the supplier selection and evaluation process
Identify and evaluate possible suppliers
The text outlines a supplier selection and evaluation process that consists of _______ steps.
5
What is the final step in the supplier selection and evaluation process?
Evaluate decisions
Multiple sourcing uses more than one supplier in hopes of increasing competition, improved market intelligence and _____
Greater supply risk integration
Single sourcing consolidates purchase volume with a single supplier in hopes of increasing cooperation and communication in supply relationships as well as _______
Lower costs per unit
Supplier development is synonymous with _______
Reverse Marketing
The creation across the supply chain and its markets of a coordinated flow of demand is the definition of:
Demand management
An underlying assumption of ______ forecasting is that future demand is dependent on past demand.
Time series
Which forecasting technique tends to be appropriate when there is little or no historical data?
Judgmental
______ refers to the management of various activities associated with the order cycle.
Order Management
_______ refers to the time from when the seller receives an order until an appropriate location is authorized to fill the order.
Order Processing
The time span within an order must arrive refers to ______.
Delivery window
A commonly used rule of thumb is that it costs approximately _______ times as much to get a new customer as it does to keep an existing customer.
5
The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience is the definition of:
Customer service
What component of customer service focuses on the ease of doing business with a seller?
Convenience
________ refers to a process that continuously identifies, understands, and adapts outstanding processes inside and outside an organization.
Benchmarking
_______ is the process of taking corrective action when measurements indicate that the goals and objectives of customer service are not being achieved.
Control
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