LSCM 3960 Exam 1 Review Latest Updated Graded A+

LSCM 3960 Exam 1 Review Latest Updated Graded A+ Where is a megacity most likely to develop? -Asia -Canada -France -England - Answer- Asia (T/F) The first decade of the 21st century was a period of rapid change for organizations, especially businesses. - Answer- True (T/F) A key element in Wal-Mart's ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system. - Answer- True (T/F) Globalization has had little effect on consumers. - Answer- False Which of the following is not an important development and vitality of the economy? -Migration -Urbanization -Entrepreneurship -None of these answers - Answer- Entrepreneurship (T/F) Tariffs and other trade barriers have been significantly reduced among many countries, allowing a much more competitive global economy. - Answer- True What is a SKU? a. Shelf Keeping Unit b. Stock Keeping U-line c. Stock Keeping Unit d. Rock band from Kansas - Answer- Stock Keeping Unit What is a TEU? a. Total European Unit b. Twenty-Foot Equivalent Units c. Tooled Estimated Unit d. Rock band from Kansas - Answer- Twenty-Foot Equivalent Units (T/F) Freight Forwarder is a "non-vessel operating common carrier." - Answer- True (T/F) The utility created through the basic marketing activities is known as place utility. - Answer- False (T/F) Transportation is the physical movement or flow of goods. - Answer- True (T/F) A logistics channel is a supply chain of network organizations engaged in transfer, storage, handling, communication, and other functions that contribute to the efficient flow of goods. - Answer- True (T/F) As the dollar value of product decreases, its inventory value decreases. - Answer- True