3380 OSU Logistics Final Exam Written With Accurate Answers Graded A+

omni-channel retail - correct answers The term referring to product distribution channels that involve the integration of brick-and-mortar retail store locations and online/mobile retail is: Product advertising - correct answers Which activity is NOT a primary responsibility of logistics management? Time, Place, and Quantity - correct answers While Logistics influences all five economic utilities, it is primarily responsible for fulfilling which three utilities? Right excuse - correct answers Which of the following provisions is NOT one of the Seven "Rights" of Logistics? False - correct answers True or False: Logistics is a discipline that emerged from the Finance discipline. False - correct answers True or False: Logistics and Supply Chain Management are two disciplines that are un-related. Buy Online Pick Up at Store - correct answers The term BOPUS stands for: False - correct answers True or False: Global Logistics is viewed as similar in complexity to Domestic Logistics. Stock Keeping Unit (SKU) - correct answers The number that is affixed to inventory for identification, tracking, and management purposes is called: cost of lost sales decreases - correct answers As the number of distribution facilities in a logistics network increases, what happens to the cost of lost sales? True - correct answers True or False: One of the primary risks that firms that have to deal with relative to logistics is weather. Humanitarian Logistics - correct answers Which type of logistics activity involves the flow and storage of goods and exchange of information for the purposes of alleviating the suffering of people? As the quality of service increases, the cost of inventory, transportation, and packaging increases. - correct answers Which of the following demonstrates a common tradeoff / relationship observed in logistics? False - correct answers True or false: Stockouts are generally viewed as an indicator that logistics decision are being made effectively. Balancing logistics costs and logistics service - correct answers The fundamental trade-off involved in managing logistics is: False - correct answers True or False: Generally speaking, firms tend to have more "A" customers than they do "C" customers. Switch, Delay, Leave - correct answers In the context of "availability" in logistics services, the phrase "SDL" refers to: False - correct answers True or False: The "Lead Time" ends when a product is delivered to a customer's dock or door The logistics processes involved in getting product from the customer market - correct answers Which of the following is the correct explanation of "reverse logistics"? On-Shelf Availability - correct answers What has emerged as a vital customer service metric that measures inventory availability at retail? C. - correct answers PIIS and PTIS, as two measures of inventory availability, differ in what way? A. PIIS measures what's available, PTIS measures when it's available B. PIIS is in units, PTIS is in increments of time C. All three (3) of the other answers D. PIIS is generally more about total inventories, PTIS is usually about a certain SKU Decides to keep their business with your organization and wait for the desired product. - correct answers Backorders occur when you do not have inventory in stock and your customer . . . ? True - correct answers In terms of logistics service costs, customers that order in pallet-sized quantities are typically less expensive to serve than customers that order in case quantities or individual-unit quantities. Customers want deliveries that are free and/or reasonably priced - correct answers Which expression below is NOT true, in describing customers expectations of "timely delivery"? You risk "under servicing" other customers because of limited resources - correct answers What is said to be a danger of "over servicing" some customers' expectations? True - correct answers True or False: A perfect order is one that is received, processed, picked, packed, shipped, documented, and delivered on-time without damage. True - correct answers True or False: The Perfect Order Index is a composite measure calculated by multiplying the performance levels of various logistics service components. Providing customers with visibility of the status of their orders - correct answers The "transparency" component of logistics service involves... 67% - correct answers Over a four-day period, a customer orders from a supplier everyday. The customer orders 50 units on days one and three, and doubles their order on days two and four. If the supplier doesn't have inventory availability to service the customer on the fourth day, what is the fill rate? $20,460 - correct answers Calculate the expected cost per stockout with the following information: Probability of a backorder is 60%, lost sale is 20%, and the probability of a lost customer is 20%. The cost per incident of a backorder is $100, lost customer is $100,000. Customers typically order in 100 unit quantities, and the company makes $20 per unit. False - correct answers True or False: Products classified as "Functional" are typically more difficult to forecast with high accuracy Lean - correct answers Generally speaking, when products being distributed through a supply chain are characterized as "functional", the supply chain model that firms in that supply chain should adopt is: True - correct answers True or False: Many firms are now hiring meteorologists to assist in supply chain risk management. Functional Products - correct answers Products with relatively long life cycles, low forecast error, and low profit margins can generally be classified as: False - correct answers True or False: Supply chain strategy traditionally drives the corporate strategy for a company. Minimal - correct answers The level of information exchange across companies in a planning-based supply chain could be described as: Produce to individual preferences - correct answers An agile supply chain seeks to . . .? Make to order (MTO) - correct answers Which manufacturing strategy supports an agile supply chain strategy? Replenishment - correct answers Which process is vital to supporting a lean supply chain strategy? False - correct answers Generally speaking, "configure to order" supply chains offer more customization than "make to order" supply chains. Risk mitigation - correct answers When firms put processes in place to reduce the impact of potential risks, they are engaging in__________________? Known-Known - correct answers When assessing risks, an event that happens routinely for which there is much data available to help anticipate both the likelihood and severity of the event when it happens is called a/n: Maps the likelihood and impact of risks so that companies can prioritize their risk management efforts - correct answers Which of the following accurately describes the purpose of a risk heat map? True - correct answers Generally speaking, the agile supply chain is more expensive to manage than the lean supply chain. Severity, probability, and detection of risks - correct answers In FMEA, you score risks based on which of the following attributes? False - correct answers True or False: S&OP is a process that involves multiple different companies within a supply chain. Forecasting should always include a quantitative analysis - correct answers Which of the following is NOT a "Rule of Forecasting"? Trend - correct answers The component of demand data that is based on the idea of "comparing where demand is now to where demand was in prior periods to see if things are moving upward or downward" is called: Sales and Operations Planning - correct answers What does S&OP stand for? True - correct answers CPFR is used in the Lean Supply Chain business model.