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Terms in this set (100)
____ refers to stocks of goods and materials that are maintained for many purposes, the most common being to satisfy normal demand patterns
Holding high levels of inventory result in ______ inventory carrying costs and ____ stockout costs.
_____ stock refers to inventory that is needed to satisfy normal demand during the course of an order cycle.
_____ stock refers to inventory that is held in addition to cycle stock to guard against uncertainty in demand and/or lead time.
____ stock refers to inventory that is en route between various nodes in a logistics system.
___ stock refers to inventory that is held for several reasons, to include seasonal demand, projected price increases, and potential shortages of product.
____ stock is carried to stimulate demand.
Inventory costs in the U.S. in the twenty-first century represent approximately ____ of total logistics costs
Inventory carrying costs in the U.S. in the 21st century have ranged between ____ and ____ percent.
refers to the fact that more items are recorded entering than leaving warehousing facilities
In the United States, _____ has traditionally provided a convenient starting point when estimating the interest charges associated with maintaining inventory.
The prime rate of interest
Which of the following situations is likely the most damaging with respect to a stockout?
customer goes to a competitor for this purchase
Under conditions of certainty, a reorder point is equal to:
average daily demand in units times the length of the replenishment cycle
The economic order quantity deals with calculating the proper order size with respect to ___ costs and ____ costs.
The EOQ determines:
the point at which the sum of carrying costs and ordering costs is maximized
concerning the EOQ model, if demand or annual usage increases by 10%, then the EOQ will:
concerning the EOQ model, if the ordering costs increase by 10% and the product value increases by 10%, then the EOQ will:
Inventory flow diagrams illustrate that safety stock can prevent two problem areas, _____ and ______.
increased rate of demand; longer-than-normal replenishment
ABC analysis of inventory:
Recognizes that inventories are not of equal value to a firm
Dead inventory refers to product for which there is no sales during a ____ month period.
All of the following are suggestions for dealing with a dead stock except ____
all of the above are suggestions
Inventory turnover can be calculated by
adding beginning and ending inventory; divide by two
____ items refer to those that are used or distributed together.
___ products refer to those that are used or distributed together.
Under ____, the size and timing of replenishment orders are the responsibility of the manufacturer.
The initial focus in facility location is ____
_____ is the most popular location for near-sourcing among companies that do business in North America.
What two countries account for approximately one-third of the world's population?
China and India
A locavore strategy:
refers to purchasing locally grown or produced foods
The general trend in recent years has been for companies to do what with their distribution networks?
reduce the number of fatalities
A pure material:
is one that loses no weight in manufacturing and/or processing
the processing point for a weight-losing raw material:
should be near its source
the processing point for a weight-gaining raw material:
should be near the final market
Over the past quarter century, discussion of natural resources and facility location has increasingly factored in ____ considerations.
Labor force ___ are a key locational determinant as supply chains become more global in nature.
____ plants, which are located just south of the U.S.- Mexican border, provide much needed jobs to Mexican workers and allow for low-cost, duty-free production so long as all the goods are exported from Mexico.
Right-to-work laws refer to a situation where:
an individual cannot be compelled to join a union as a condition of employment
An expatriate refers to a person:
who is sent to work in other countries for extended periods of time
turnover rates for expatriate workers current run between ____ percent.
20 and 40
from a business perspective, _____ taxes are analogous to the personal property taxes paid by individuals.
the existence of transportation competition, whether intermodal or intramodal, tends to:
have both cost and service benefits to users
____ refers to the net advantages which can be gained by a sharing of common locations by various enterprises.
With respect to commodity flows, logisticians are especially interested in ___ and ___.
how much is being produced; where it is being shipped.
The European Union's expansion into Central and Eastern European countries has resulted in Poland and ___ becoming favored distribution sites because of their relatively central location.
Which of following is not a possible quality of life consideration in facility location?
all of the above are quality of life considerations
A "brownfield" is
a property for which use and redevelopment is complicated by past use.
A free trade zone refers to:
an area in which products can be stored, exhibited, or processed without being subjected to duties and quotas unless they enter the customs territory of the zone country.
The center-of-gravity approach to location analysis minimizes:
distance to existing facilities
How does the weighted center-of-gravity approach to location analysis differ from the center-of-gravity approach to location analysis?
the weighted approach considers shipment volume
the Worker Adjustment and Retraining Notification (WARN) Act mandates that employers give ____ days notice about plant closings and mass layoffs.
Warehousing and ____ are substitutes for each other.
_____ and ____ refer to adjustments associated with the quantity of product.
______ involves bringing together similar stocks from different sources.
____ refers to building up a variety of different products for resale to particular customers.
Warehouses emphasize ____ and their primary purpose is to maximize ___
product storage; usage of available storage space
Distribution centers emphasize ___ and their primary purpose is to ____.
rapid movement of product; throughput.
Throughput refers to:
amount of product entering and leaving a facility in a given time period.
____ refers to a process where a product is received in a facility, occasionally married with product going to the same destination, and then shipped at the earliest time, without going into longer-term storage.
Warehousing labor safety practices in the U.S. are monitored by which federal government agency?
None of the above
What is considered to be the biggest drawback to public warehousing?
Lack of control by the user
____ warehousing is owned or occupied on a long-term lease by the firm using them,
With respect to contract warehousing, ____ to ___ year contracts appear to allow sufficient time for the warehousing provider to learn the client's business while allowing the client some flexibility in case the agreement fails to produce acceptable results.
Multiclient warehousing mixes attributes of ____ and ___ warehousing.
One of the best pieces of advice with respect to the design of warehousing facilities is to ___.
use common sense
tradeoffs must be among space, labor, and ___ with respect to warehousing design.
A key advantage of fixed slot locations in a warehouse is:
knowledge of where specific products are located
A key advantage of variable slot locations in a warehouse is:
increased space utilization.
As one builds higher, building costs ____, while warehousing equipment costs tend to ___.
narrow aisles can store ___ to ___ percent more product than conventional width aisles.
one estimate suggests that only approximately ___ percent of a facility's cubic capacity is actually occupied by product.
What is dunnage?
material that is used to block and brace products inside carrier equipment
A materials safety data sheet( MSDS) is required for:
each hazardous product to be stored in a facility
which of the following is not one of the common causes of warehousing fires?
According to the Occupational Safety and Health Administration, approximately ___ employees are killed each year while operating forklifts in warehousing facilities.
In general, warehousing security can be enhanced by focusing on people, ___, and ____.
Product density refers to a product's _____.
weight per volume
The building blocks concept is associated with which logistics function?
___ refers to materials used for the containment, protection, handling, delivery, and presentation of goods.
each of the following is a shipping hazard that a package may be exposed to except ___.
all of the above are shipping hazards for a package
as a general rule, labeling requirements and enforcement tend to be more stringent in ____ countries than in ____ countries.
economically developed; economically developing
The Globally Harmonized System of Classification and Labeling of Chemicals (GHS) was developed by the:
Over 80% of customers view packaging as ____
a major environmental issue
which of the following is not a characteristic of plastic packaging?
lack of versatility
which of the following is not an environmentally-friendly packaging strategy that firms might adopt?
all of the above are strategies
____ systems consider the reverse flow of products, their reuse, and the marketing and distribution of recovered products.
how many countries in the world do not currently use the metric system of measurement?
what has been described as the "last frontier" of logistics savings opportunities?
A "box-maker's certificate":
assures railroads and motor carries that boxes are sufficiently sturdy to meet their handling requirements.
A unit load involves:
consolidation of several units into larger units to improve efficiency in handling and to reduce shipping costs
The major advantage of the unit load is:
mechanical devices can be substituted for manual labor
The ___ has established six international pallet size standards.
International standards organization
The basic unit in unit loading is:
A major drawback to metal and plastic pallets is their ____.
____ pounds is the approximate weight at which there is a noticeable increase in injuries, particularly back injuries, from manual handling.
What do we call the short distance movement that usually takes place within the confines of a building such as a plant of DC and between a building and a transportation service provider
with respect to density, a vessel loaded with ___ is most likely to cube out.
a dry bulk material's ___ is important for determining the quantity that can be stored in a given location
angle of repose
_____ refers to the interaction between workers and workplace conditions
the total cost of ownership is associated with which of the 10 materials handling principles?
life cycle cost principle
it is important that the materials handling equipment be aligned with an organization's objectives, customers, and ____.
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