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Logistics, the Supply Chain and Competitive Strategy
Introduction to Supply Chain Competitiveness, Defining Logistics and Supply Chain Management, The Four R's of Supply Chain Competition, and Inventory Performance
Terms in this set (16)
The objective of Walmart's early network design strategy was to:
Locate stores close to a Distribution Center
Which of the following is a theme throughout the course?
How logistics and supply chain management can be used to create a competitive advantage
Which of the following are measures of reliability of a logistics process?
C & D
Reliability in the 4 R's of supply chain competition is defined as being able to _________________.
Consistently execute an activity or process at a target level of performance
Resilience in the 4 R's of supply chain competition is defined as being able to _________________.
Deal with unexpected disruptions in the supply chain
Responsiveness in the 4 R's of supply chain competition is defined as being able to _________________.
Change logistics and supply chain management activities quickly
Ron's Sports operates 365 days a year. Annual inventory turns of basketballs is 10. How many days of supply does that represent?
(1/10)*365 days= 37
The inventory holding cost factor is 30% and the average inventory next year is expected to be $200,000. What is the expected inventory holding cost?
Average inventory last year was $160,000 and turns were 7. What was cost of goods sold last year?
$160,000*7 turns= $1,120,000
Process redesign is concerned with improving performance but does so by changing ______.
The order of the activities
Economies of scale is defined as a reduction in ________ when volumes are increased.
Average cost per unit
The management of the flow and storage of inventory, such that total costs are minimized and customer service targets are achieved is referred to as:
Suppose a company orders 10 pallets of bottled water, 14 oz. per bottle, and $0.05 per bottle. There are 2,000 bottles per pallet. Suppose they use a truckload carrier and it costs a flat rate of $1,000 for the transportation. So the purchase cost is $0.05 per bottle X 2,000 bottles per pallet X 10 pallets = $1,000. So the purchase cost plus the transportation cost is $2,000, hence, the total cost per bottle is $2,000 / 20,000 bottles = $0.10 per bottle. In this example, the company only ordered 10 pallets but a truck load has a capacity of about 20 pallets of bottled water. Instead, suppose they ordered 20 pallets of bottled water, the transportation cost will be the same but the purchase cost will now be $0.05 per bottle X 2,000 bottles per pallet X 20 pallets = $2,000. Hence the purchase cost plus the transportation cost is $3,000, so the total cost per bottle is $3,000 / 40,000 bottles $0.08 per bottle (rounded up from $0.075 per bottle). This demonstrates which of the following concepts?
Economies of scale
Which of the following is a fundamental concept of logistics management?
There are tradeoffs among many of the logistics costs and customer service targets.
A distribution center has 180,000 pounds of sugar and the forecast is 1,200 pounds of sugar per day. What is the estimate of the days of supply?
Which of the following benefits did Walmart achieve from their early network design strategy?
All of these were benefits
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