Top Mark Questions and Correct Verified Answers
BA 215: Transportation Principles (Exam
1) -Questions and Correct Verified
Answe-Questions and Correct Verified
Answers rs
#1 Market in Trading
China
Top 3 Largest Exporters
1. China
2. United States
3. Germany
Top 3 Largest Importers
1. United States
2. China
3. Germany
Absolute advantage
Trade is beneficial if cost of production for the same product differ between
countries
Comparative advantage
Trade is also beneficial even if one country has lower cost of production than other
country in multiple products
Contributing Factors for Global Flows and Trade
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
- Population size and age distribution
- Urbanization
- Land and resources
- Technology and information
- Globalization
Land and Resources
- Crops
- Water
- Food
- Energy
Critical role of technology in mitigating resource scarcity.
Technology as an "internal" change agent
Enhanced efficiency, effectiveness, and competitiveness of an organization
Technology as an "external" driver of change
New forms of competition or new business models
Technological "Game Changers"
- The Internet
- Industrial robotics
- Digitization of manufacturing (Additive manufacturing or 3D printing)
Globalization benefits
- Lower prices
- Wider availability of goods and services
- Land and resource development
- New employment opportunities
- BRIC and VISTA countries (grouping of emerging markets)
BRIC countries
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
Brazil, Russia, India, China
VISTA countries
Vietnam, Indonesia, South Africa, Turkey, Argentina
Globalization challenges
- Increases level of complexity and competition
- Shorter product life cycles
- New forms of competition
- New business models
1960s: Physical Distribution`
Development of Supply Chain that focused on system costs and trade-off among
transportation, inventory levels, warehousing, protective packaging, materials
handling, and customer service
1980s: Business Logistics/ Integrated Logistics
Development of Supply Chain that focused on coordination between the outbound
and the inbound sides of logistics. Analyzing trade-offs for the lowest total cost and
the value of demand aspects of customer service effectiveness.
1990s: Supply Chain Management
The extended enterprise or boundary spanning perspective, focusing on a.system of
connected networks between the original vendor and the ultimate final consumer
Supply Chain Management (SCM)
The art and science of integrating the flows of products, information, and financials
through the entire supply pipeline from the supplier's supplier to the customer's
customer.
Three Key Flows of Supply Chain
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
- Products and related services
- Information
- Financials (cash)
Product/Service Flows
directly dependent on effective transportation for timely, reliable, and damage-free
product delivery to customers.
Importance of reverse logistics systems forreturning products
- Different network designs (location, size, and layout of facilities)
- Growing number of specialized reverse logistics and transportation service
providers
bull whip effect
In SCM, Lengthy time intervals between orders created demand uncertainty,
resulting in higher inventory (safety stock) or stock out costs, contributing to the
magnitude of uncertainty increased with the "distance" from the market or
customer.
Transportation demand
a request to move a given weight or amount of cargo a specific distance between
two specific points
Demand for transportation
- Transportation helps to bridge the supply and demand gap inherent to mass-
production.
- Goods need to be transported nationally and globally.
- Measured in ton-miles
Passenger demand
Top Mark !!!
BA 215: Transportation Principles (Exam
1) -Questions and Correct Verified
Answe-Questions and Correct Verified
Answers rs
#1 Market in Trading
China
Top 3 Largest Exporters
1. China
2. United States
3. Germany
Top 3 Largest Importers
1. United States
2. China
3. Germany
Absolute advantage
Trade is beneficial if cost of production for the same product differ between
countries
Comparative advantage
Trade is also beneficial even if one country has lower cost of production than other
country in multiple products
Contributing Factors for Global Flows and Trade
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
- Population size and age distribution
- Urbanization
- Land and resources
- Technology and information
- Globalization
Land and Resources
- Crops
- Water
- Food
- Energy
Critical role of technology in mitigating resource scarcity.
Technology as an "internal" change agent
Enhanced efficiency, effectiveness, and competitiveness of an organization
Technology as an "external" driver of change
New forms of competition or new business models
Technological "Game Changers"
- The Internet
- Industrial robotics
- Digitization of manufacturing (Additive manufacturing or 3D printing)
Globalization benefits
- Lower prices
- Wider availability of goods and services
- Land and resource development
- New employment opportunities
- BRIC and VISTA countries (grouping of emerging markets)
BRIC countries
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
Brazil, Russia, India, China
VISTA countries
Vietnam, Indonesia, South Africa, Turkey, Argentina
Globalization challenges
- Increases level of complexity and competition
- Shorter product life cycles
- New forms of competition
- New business models
1960s: Physical Distribution`
Development of Supply Chain that focused on system costs and trade-off among
transportation, inventory levels, warehousing, protective packaging, materials
handling, and customer service
1980s: Business Logistics/ Integrated Logistics
Development of Supply Chain that focused on coordination between the outbound
and the inbound sides of logistics. Analyzing trade-offs for the lowest total cost and
the value of demand aspects of customer service effectiveness.
1990s: Supply Chain Management
The extended enterprise or boundary spanning perspective, focusing on a.system of
connected networks between the original vendor and the ultimate final consumer
Supply Chain Management (SCM)
The art and science of integrating the flows of products, information, and financials
through the entire supply pipeline from the supplier's supplier to the customer's
customer.
Three Key Flows of Supply Chain
Top Mark !!!
, Top Mark Questions and Correct Verified Answers
- Products and related services
- Information
- Financials (cash)
Product/Service Flows
directly dependent on effective transportation for timely, reliable, and damage-free
product delivery to customers.
Importance of reverse logistics systems forreturning products
- Different network designs (location, size, and layout of facilities)
- Growing number of specialized reverse logistics and transportation service
providers
bull whip effect
In SCM, Lengthy time intervals between orders created demand uncertainty,
resulting in higher inventory (safety stock) or stock out costs, contributing to the
magnitude of uncertainty increased with the "distance" from the market or
customer.
Transportation demand
a request to move a given weight or amount of cargo a specific distance between
two specific points
Demand for transportation
- Transportation helps to bridge the supply and demand gap inherent to mass-
production.
- Goods need to be transported nationally and globally.
- Measured in ton-miles
Passenger demand
Top Mark !!!
