TEST BANK| ASCM (CERTIFIED IN LOGISTICS,
TRANSPORTATION AND DISTRIBUTION) FINAL
EXAM PREP WITH 500 REAL EXAM QUESTIONS AND
CORRECT VERIFIED ANSWERS/ ALREADY GRADED
A+| (BRAND NEW!!)
Which of the following inventory ordering techniques would a
company's corporate warehouse utilize if it is interested in meeting both
the quantity and timing requirements of demand from its regional
warehouses? - ANSWER - Kanban
A company setting up a warehouse wants to maintain a first in, first out
(FIFO) stock rotation. Which of the following storage systems should
they utilize? - ANSWER - Pallet racking
A firm offers their customers shorter order cycle times and increased
product variety. Generally, this action would have which of the
following impacts on total logistics costs? - ANSWER - Has no impact
on total logistics costs
A third-party logistics (3PL) provider is seeking to market its value-
added warehousing services to international shippers. These services
refer to activities such as: - ANSWER - total warehousing cost
minimization on equipment, maintenance, and labor.
When determining the optimal logistics terminal location, one of the
primary goals is to minimize: - ANSWER - the number of pick-up
locations
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,In addition to declaring the origin of goods, a certificate of origin is used
to determine the: - ANSWER - export declaration
A supply chain manager is revising their organization's supply chain
strategy with a greater emphasis on collaborative supply chain
relationships. Which of the following barriers poses the greatest
impediment to implementing their new strategy? - ANSWER - Vendor
language and time zone differences
Given the data below, calculate the reorder point (ROP).Average daily
demand = 30 units/day
Lead time = 4 days
Safety stock = 20 - ANSWER - 140 units
A non-profit transportation membership cooperative that arranges for the
domestic or international shipment of member's cargo over any mode of
transportation is known as a(n): - ANSWER - shipper"™s association
A corporation is projecting annual sales at $35 million, cost of goods
sold (COGS) at $25 million, and administrative expenses at $3 million.
In order to meet its corporate inventory turns goal of 5.0, their inventory
level must average: - ANSWER - $7.6 million
Which of the following prerequisites is essential in order to establish an
effective order management system? - ANSWER - An ability to plan and
build loads
In a retail firm's implementation of vendor-managed inventory (VMI),
what trading partners are responsible for setting target inventory levels
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,and making restocking decisions? - ANSWER - Retailer and its
suppliers
An organization concentrating its efforts on meeting the internal
performance standards related to availability, operational performance,
and reliability has focused on which of the following aspects of the
customer relationship? - ANSWER - customer satisfaction
What is one major difference in the scope of logistics between Europe
and the U.S.? - ANSWER - In Europe, logistics goes from raw materials
to the final delivery to the customer, thus including production planning
and manufacturing, while in the U.S., manufacturing is usually not under
the purview of logistics
The distance traveled once a drop or delivery zone has been reached -
ANSWER - Drop Distance
The distance to and from the delivery zone - ANSWER - Stem Distance
The portion of a transportation journey that moves between two
transportation terminals; Excludes the pick-up and delivery portions of a
journey used to acquire or distribute LTL freight - ANSWER - Line Haul
The cost of physical inventory and its financing charges - ANSWER -
Capital Cost
The cost of inventory management and insurance - ANSWER - Service
Cost
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, Costs associated with pilferage, inventory deterioration, damage, and
obsolescence - ANSWER - Risk Cost
A solution to a problem that is best from a narrow point of view, but not
from a higher or overall company point of view - ANSWER -
Suboptimization
What are the stages of inventory Integration / maturity? - ANSWER - 1)
Baseline
2) Functional Integration
3) Internal Integration
4) External Integration
What are the two competing theories of leadership? - ANSWER - Trait
Model and Process-Based model
Which leadership theory emphasizes a person's charisma, passion, and
decisiveness as the traits of a good leader? - ANSWER - Trait Model
According to the definition of total cost of ownership, which cost is the
largest portion of total cost? - ANSWER - Post-Transaction Costs
A pharmaceutical company makes drugs that control the spread of the
influenza virus after outbreaks occur. Deployment to outbreak areas
requires a transportation mode that is fast and provides door-to-door
connectivity. Which of the following modes of transportation should the
company choose? - ANSWER - Truck
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