LSCM 3960 Ferris Exam Graded A+
(Verified)
In the short run, the firm's network is ______ while in the long run it is ______. -
Answer- fixed, variable
The concept that represents the sum of all costs associated with making and delivering
products to the point where they are needed is called - Answer- total landed cost
Which approach represents a strategy in which the entire organization is focused on the
examination of process variability and continuous improvement? - Answer- Total Quality
Management
As the length and complexity of a supply chain increases, a firm's inventory levels will -
Answer- increase
Which of the following is correct regarding tapering rates? - Answer- the principle is
based on the carrier's ability to spread a certain fixed shipment costs over a greater
number of miles
Capacity is - Answer- the maximum amount of work that an organization is capable of
completing in a given period of time.
Those customers who are in the "Danger Zone" segment are - Answer- the least
profitable
The traditional role of customer service at the interface between marketing and logistics
manifests itself through the ______ dimension of the marketing mix. - Answer- Place.
The term functional silos refers to: - Answer- lack of coordination between departments
There are four strategies that firms can use to balance supply and demand; price, lead
time, inventory, and ______. - Answer- Production flexibility
Inventory is an asset on the balance sheet and a ______ on the income statement. -
Answer- Variable Expense
Logistics, it its simplest form, - Answer- combines inbound logistics with the outbound
logistics of physical distribution
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? - Answer-
Customer Service
The utility that is created by moving goods from productions points to market points
where demand exists is referred to as - Answer- Place
What is often the largest component of logistics costs - Answer- Transportation Costs
A(n) ______ relationship exists between the cost of lost sales and inventory cost -
Answer- Inverse
The Supply Chain Concept - Answer- developed from the previous Physical Distribution
concept
Economic deregulation sparked competition among carriers in several areas. Which of
the following is NOT an area of competition? - Answer- Accessibility
Approximately two-thirds of 3PL customers think their providers supply - Answer-
Tactical or operational services
What is the best financial metric to show the profit an organization generates in
relationship to assets utilize? - Answer- ROA
A third-party logistics firm may be defined as - Answer- An external supplier that
performs or manages all or part of a company's logistic function.
Horizontal collaboration refers to a relationship that is ______ and/or ______. - Answer-
buyer to buyer and/or seller to seller
The decision to alter the supply chain process is essentially ______ issue. - Answer- An
Optimization
Vertical collaboration refers to - Answer- Collaborating among buyers and sellers in the
supply chain
The "value-of-service" pricing approach establishes a lower limit of transportation prices
or rates. - Answer- False
The "cost-of-service" pricing approach establishes a upper limit of transportation prices
or rates. - Answer- False
The current logistics management approach is supported by which performance
measurement concepts? - Answer- Least Total Cost
Which of the below is not part of the seven Rs of logistics? - Answer- Quality
(Verified)
In the short run, the firm's network is ______ while in the long run it is ______. -
Answer- fixed, variable
The concept that represents the sum of all costs associated with making and delivering
products to the point where they are needed is called - Answer- total landed cost
Which approach represents a strategy in which the entire organization is focused on the
examination of process variability and continuous improvement? - Answer- Total Quality
Management
As the length and complexity of a supply chain increases, a firm's inventory levels will -
Answer- increase
Which of the following is correct regarding tapering rates? - Answer- the principle is
based on the carrier's ability to spread a certain fixed shipment costs over a greater
number of miles
Capacity is - Answer- the maximum amount of work that an organization is capable of
completing in a given period of time.
Those customers who are in the "Danger Zone" segment are - Answer- the least
profitable
The traditional role of customer service at the interface between marketing and logistics
manifests itself through the ______ dimension of the marketing mix. - Answer- Place.
The term functional silos refers to: - Answer- lack of coordination between departments
There are four strategies that firms can use to balance supply and demand; price, lead
time, inventory, and ______. - Answer- Production flexibility
Inventory is an asset on the balance sheet and a ______ on the income statement. -
Answer- Variable Expense
Logistics, it its simplest form, - Answer- combines inbound logistics with the outbound
logistics of physical distribution
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? - Answer-
Customer Service
The utility that is created by moving goods from productions points to market points
where demand exists is referred to as - Answer- Place
What is often the largest component of logistics costs - Answer- Transportation Costs
A(n) ______ relationship exists between the cost of lost sales and inventory cost -
Answer- Inverse
The Supply Chain Concept - Answer- developed from the previous Physical Distribution
concept
Economic deregulation sparked competition among carriers in several areas. Which of
the following is NOT an area of competition? - Answer- Accessibility
Approximately two-thirds of 3PL customers think their providers supply - Answer-
Tactical or operational services
What is the best financial metric to show the profit an organization generates in
relationship to assets utilize? - Answer- ROA
A third-party logistics firm may be defined as - Answer- An external supplier that
performs or manages all or part of a company's logistic function.
Horizontal collaboration refers to a relationship that is ______ and/or ______. - Answer-
buyer to buyer and/or seller to seller
The decision to alter the supply chain process is essentially ______ issue. - Answer- An
Optimization
Vertical collaboration refers to - Answer- Collaborating among buyers and sellers in the
supply chain
The "value-of-service" pricing approach establishes a lower limit of transportation prices
or rates. - Answer- False
The "cost-of-service" pricing approach establishes a upper limit of transportation prices
or rates. - Answer- False
The current logistics management approach is supported by which performance
measurement concepts? - Answer- Least Total Cost
Which of the below is not part of the seven Rs of logistics? - Answer- Quality
