LSCM 3960 Supply Chain Management Role of Logistics: Ch. 1 Ch. 3Exam Latest Updated Graded A+

LSCM 3960 Supply Chain Management Role of Logistics: Ch. 1 Ch. 3Exam Latest Updated Graded A+ Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape? government policy technology environmental concerns globalization - Answer- environmental concerns Some individuals describe the current consumer as the "click here" generation because we all have internet access we no longer wait for information to be "pushed out" to us we buy so much merchandise online we take little time to make purchasing decisions - Answer- we no longer wait for information to be "pushed out" to us One of the major challenges of supply chain management is maintaining the visibility of inventory forward buying building safety-stock pushing inventory back to vendors - Answer- maintaining the visibility of inventory The demographics of our society has changed because the "Baby Boom" generation is now turning 60 of the increase in two-career families and single-parent households of immigration birth rates have changed - Answer- of the increase in two-career families and single-parent households The Supply Chain Concept is very new and considered cutting edge technology is highly dependent of computerization is not always well understood by senior managers developed from the previous Physical Distribution concept - Answer- developed from the previous Physical Distribution concept A critical outcome of the supply chain is to deliver on management's expectations profits cost/value the right product to the right place - Answer- the right product to the right place One of the four supply chain flows in Figure 1 -- 7 that has received increased attention from supply chain managers due to the growth in technology is: product flow information flow cash flow demand flow - Answer- demand flow Logistics, in its simplest form is a military term, as it was developed originally to supply the battlefield is another term for transportation management does not involve customer service or other related functions combines inbound logistics with the outbound logistics of physical distribution - Answer- combines inbound logistics with the outbound logistics of physical distribution 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? balanced system heavy inbound heavy outbound reverse system - Answer- heavy inbound It can be argued the ____ is the second language of logistics and supply chain management. quality manufacturing finance sales - Answer- finance What are fixed established spatial points where goods stop for storage or processing? nodes links cost centers fulfillment centers - Answer- nodes A _____ analysis examines a logistics system over a long time period or range of output. cost center analysis dynamic link node analysis least cost analysis - Answer- dynamic Packaging is critical to logistics critical to manufacturing critical to product differential a factor in outsourcing - Answer- critical to logistics What technology has helped make the physical inventory-taking process more efficient and effective? advances in forecasting transportation management systems just-in-time inventory scanning of bar-coded RFID tags - Answer- scanning of bar-coded RFID tags Marketers have begun to recognize the strategic value of place in the marketing mix, as well as the benefits resulting from high-quality logistical services. As a result, which has been recognized as the interface activity between marketing and logistics? customer service price promotion product - Answer- customer service T/F: In order to achieve least total cost logistics, management must minimize all logistics costs. - Answer- False (Synthesis) Each of the following functional areas would typically be included within logistics EXCEPT: customer service Human Resources/personnel management order processing transportation warehousing and storage - Answer- Human Resources/personnel management Which of the answers below is an example of the creation of form utility by a logistics activity? when lumber is cut and made into a chair when a firm's finance manager approves customer purchases on a credit basis when Dell combines components with software to produce a computer to a customer's specifications the breaking bulk and repackaging at a distribution center - Answer- the breaking bulk and repackaging at a distribution center Outsourcing involves moving company facilities away from the home office hiring foreign nationals to manage part of the business obtaining materials, parts, and products from other companies building a factory in another country - Answer- obtaining materials, parts, and products from other companies Complexity in the supply chain is caused by the number of SKUs locations of customers and suppliers transportation requirements all of these answers - Answer- All of these answers