LSCM Chapter 1-2 exam review with correct answers 100% 2026

LSCM Chapter 1-2 exam review with correct answers 100% 2026 The Supply Chain Concept - Correct Answer developed from the previous Physical Distribution concept. Most retailers are essentially supply chain companies since - Correct Answer they buy products produced by others. Cost/Value refers to - Correct Answer the importance of cost and value at the very end of the supply chain The demographics of our society has changed because - Correct Answer of the increase in two-career families and single-parent households Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape? - Correct Answer Environmental concerns Outsourcing involves - Correct Answer obtaining materials, parts, and products from other companies One of the four supply chain flows in Figure 1 - 8 that has received increased attention from supply chain managers due to the growth in technology is: - Correct Answer Demand flow The challenge to develop and sustain an efficient and effective supply chain(s) requires organizations to address a number of issues. Which is NOT included? - Correct Answer inventory carrying costs What activity is described as the movement of goods into a warehouse, the placement of goods in a warehouse, and the movement of goods from storage to order picking areas and eventually to dock areas for transportation out of the warehouse? - Correct Answer materials handling Water Cruisers is located in Jacksonville, Florida, and makes small yachts and luxury pontoon boats for customers on the East coast of the United States. Each boat requires thousands of parts purchased from over 1,000 vendors. A number of boats are in production at any one time, so a large number of parts constantly arrive and are stored. Once a boat is finished, it is sailed up the coast to a convenient port for customer delivery. Which type of logistics system does Water Cruisers use? - Correct Answer heavy inbound What technology has helped make the physical inventory-taking process more efficient and effective? - Correct Answer scanning of bar-coded RFID tags A ______ analysis examines a logistics system over a long time period or range of output. - Correct Answer dynamic A(n) _______ relationship generally exists between the cost of lost sales and inventory cost. - Correct Answer inverse Ensuring the availability of the right product, in the right quantity, and the right condition, at the right place, at the right time, for the right customer at the right cost, is which definition of logistics? - Correct Answer Seven Rs Logisticians seek cost trade-offs. A "positive" cost trade-off is a situation where: - Correct Answer Some costs increase, some decrease, and the net effect is that total costs decrease. Which of the following is the "marketing mix"? - Correct Answer distribution, price, product, promotion