taitt final exam shii

studied byStudied by 1 person
0.0(0)
Get a hint
Hint

Logistics

1 / 146

flashcard set

Earn XP

Description and Tags

supply chain yurr

147 Terms

1

Logistics

moving things from the point of origin to the point of consumption

New cards
2

Inbound Logistics

sending things from suppliers to manufacturers

New cards
3

Material Handling

moves goods and materials between sites

New cards
4

Outbound Logistics

moves finished goods to the customer

New cards
5

Warehouse

facility used to store goods and materials

New cards
6

Warehousing

the function that allows companies to store, repackage, and distribute to the customer

New cards
7

Functions of a Warehouse

receiving, storage, picking, packing, shipping

New cards
8

Secondary functions of a warehouse

quality inspections, repackaging, assembly operation

New cards
9

Public Warehouses

warehouses with privately owned equipment, privately run staff, monthly storage fee

New cards
10

Pros public warehouse:

no capital investment, flexible, low cost

New cards
11

Cons public warehouse:

Potentially incompatible computer systems, space not always available

New cards
12

Contract Warehouse

rent out space on yearly contract, for the whole building or a defined portion

New cards
13

Pros contract warehouse:

specialized services tailor made for needs, cost can be negotiated, and more control

New cards
14

Cons contract warehouse:

duration is longer

New cards
15

Private Warehouse

company owned storage, for companies with large volume or valuable goods, or special storage

New cards
16

Pros private warehouse:

better control, visibility, and cheaper in long run

New cards
17

Cons private warehouse:

high start up cost, fixed location, fixed size/costs

New cards
18

Consolidation Warehouse

goods from different suppliers stored in one warehouse. Many different goods sent out in one shipment

New cards
19

Break-Bulk Warehouse

goods from one supplier are stored, then sent out in many shipments. One good, many shipments.

New cards
20

Cross-Docking Warehouse

little/no inventory stored, transfer goods between trucks to be shipped off. Transportation cost savings, inventory efficiency

New cards
21

Warehouse network

how many warehouses needed, and where they are needed

New cards
22

Single warehouse

simple, lower costs and inventory, best people in one spot. Long delivery time

New cards
23

Multiple warehouses

quicker delivery. complex, high costs and inventory, spreads out the best people

New cards
24

Hybrid Approach

central warehouse (hub) holds most of inventory, then ships out to dispersed warehouses (spokes). Lowers operating costs and inventory, increases customer service

New cards
25

Market Position Strategy

warehouse close to customers to improve delivery. When there's more customers than suppliers

New cards
26

Product Position Strategy

warehouses close to suppliers to consolidate before delivery. More suppliers than customers

New cards
27

Intermediate Position strategy

warehouses at a midpoint between customer and supplier. Balances cost, inventory and customer service

New cards
28

LEAN warehousing

Includes methods such as cross docking, increased automation, reduced lot sizes and shipping quanitities

New cards
29

3rd party logistics (3PL)

using another company to do your logistics (outsourcing)

New cards
30

4th Party logistics (4PL)

Managees all 3PL companies

New cards
31

Goal of Transportation

maximize value, effective service, and satisfy customer needs

New cards
32

Contract Carrier

transports under contract to one or a few shippers

New cards
33

Common Carriers

transports for a fee, can be hired by anyone

New cards
34

Private Carriers

transports their own cargo as a part of their business

New cards
35

Exempt Carriers

specialize in transporting commodities exempt from regulation by Interstate Commerce Act

New cards
36

Mode of transportation

way of transportation

New cards
37

Carrier

Company that transports

New cards
38

Truck

most flexible form of transportation, most commonly used

New cards
39

General freight carriers

handles a variety of goods in normal trailers, like pallet goods

New cards
40

Specialized carriers

transport liquid petroleum, agricultural commodities, building materials, & other specialized items.

New cards
41

Less than truckload (LTL)

carriers move small shipments, when you don't have enough to fill a truck. Stop at depots and transfer locations to match load to the final location.

New cards
42

Full-Truckload (FTL)

the transport of goods that fill up a full truck, or a partial load shipment occupying an entire truck

New cards
43

Rail

slow and inflexible mode of transport, but has the most capability

New cards
44

Pipeline

most reliable and lowest per unit cost mode of transport. Materials transported in liquid/gas form

New cards
45

Air

fastest and most expensive mode of transport, paired with trucks for door to door delivery

New cards
46

Water

super cheap, super slow and inflexible mode of transport. Used for heavy/bulky shipments

New cards
47

Intermodal Transport

using multiple modes of transportation to get one product from A to B

New cards
48

Interstate Commerce Act

law that forces compliance between states with commerce laws

New cards
49

Cost of Service Pricing

set price based on costs incurred

New cards
50

Value of Service Pricing

set price based on value perceived by customer

New cards
51

Combination Pricing

set between Cost of Service minimum and Value of Service maximum. Very adjustable

New cards
52

Net Rate Pricing

set price to customer's needs

New cards
53

FOB Origin

buyer pays freight costs, ownership passes when it leaves the seller

New cards
54

FOB Destination

seller pays freight costs, ownership passes once good reaches the destination

New cards
55

Freight Forwarder

Consolidates LTL shipments into FTL shipments

New cards
56

Transportation Broker

bring shippers and carriers together

New cards
57

Shipper's Association

Nonprofit cooperatives which arrange for members' shipping

New cards
58

Intermodal Marketing Company

Purchase blocks of rail capacity and sell it to shippers

New cards
59

Types of Logistic Management Software

Warehouse Management Systems, Transportation Management Systems, and Global Trade Management Systems

New cards
60

Reverse Logistics

backwards flow of goods of customers back to the point of origin

New cards
61

5 R's of Reverse Logistics

returns, recalls, repairs, repackaging, recycling

New cards
62

Offshore factory

manufacturing and assembly done overseas to cut labor and raw material costs

New cards
63

source factory

similar to an offshore factory in that it cuts product cost, but with skilled workers and significant managerial resources

New cards
64

server factory

global facility that takes advantage of government incentives (tax reductions, etc.) to meet local market needs

New cards
65

contributor factory

global facility that is focused on product development as well as R+D

New cards
66

outpost factory

global facility set in an area with a lot of advance suppliers, competitors, research facilities, etc.

New cards
67

Lead factory

global facility that is the source of product and process innovation

New cards
68

Global Location Factors

taxes and incentives, proximity to markets, labor/land costs, business clusters, etc.

New cards
69

Weighted factor rating model

location evaluation technique the weights each factor differently based on importance

New cards
70

Break even model

location evaluation technique for when you know fixed/variable costs

New cards
71

Global trade opportunities

increased revenue and sourcing options

New cards
72

global trade challenges

this type of trade is complex, plus it introduces tariffs and duties

New cards
73

International Freight Security

lots of increased legislation post 9/11

New cards
74

US Department of Homeland Security

secures borders, ensures that flow of lawful traffic and commerce

New cards
75

US Customs and Border Protection

protects the US through active inspections at ports of entry, promoting legitimate commerce

New cards
76

Trade Compliance Systems

can automate the process of checking every transaction

New cards
77

Importer of Record

the owner, purchaser, or licensed customs broker must file entry documents for goods at the port of entry

New cards
78

Foreign Trade Zone

designated geographic region through which merchandise is allowed to pass with lower customs duties (taxes) and/or fewer customs procedures

New cards
79

Deemed Export

the release of technology or source code that is subject to the Export Administration Regulations, to a foreign national located in the United States.

New cards
80

Customs Brokers

move global shipments through customs and handle documentation

New cards
81

International Freight Forwarders

Move goods to and from foreign destination

New cards
82

Trading Companies

handle transactions between international buyers

New cards
83

Non-Vessel-Operating Common Carriers (NVOCC)

Operate like freight forwarders but use only scheduled ocean liners.

New cards
84

Customer Relationship Management (CRM)

transformation of people, process and technology required to become a customer first business. The philosophy of putting the customer first

New cards
85

What is CRM used for?

To acquire, retain and meet the changing expectations of customers

New cards
86

Strategically Significant Customers

These customers have high lifetime value, are role models and inspire change for other customers. These are the customers that CRM targets relationships with

New cards
87

Predicting Customer Behavior

If a company is selling products and services to customers, they can also collect customers buying history, preferences, and trend information, which could then be used to predict customer buying behaviors going forward.

New cards
88

Personalizing Customer Communications

Understanding customer behaviors & preferences, firms customize communications

New cards
89

Segmenting Customers

dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing

New cards
90

Target Marketing

Marketing directed toward those groups (market segments) an organization decides it can serve profitably.

New cards
91

Event Based Marketing

develops connections with customers based on events

New cards
92

Cross Selling

buying a related or complementary product after initial purchase

New cards
93

Up Selling

persuades buyer to upgrade or buy a more expensive item

New cards
94

Relationship/Permission Marketing

signing up for promotional emails

New cards
95

Customer Defection Analysis

figuring out why customers stop buying and reducing the loss of these customers

New cards
96

Churn Reduction

reducing customer defections

New cards
97

Customer Lifetime Value (CLV)

approximate worth of a customer to a company in economic terms; overall profitability of an individual consumer

New cards
98

Clickstream

tracking how a customer navigates a website can help tailor a website's images, ads or discounts based on past usage of the site.

New cards
99

Customer Service Philosophy

emphasis on quality and quality management to get customer satisfaction

New cards
100

Customer Service Activity

includes order processing, returns, etc

New cards

Explore top notes

note Note
studied byStudied by 3 people
Updated ... ago
5.0 Stars(1)
note Note
studied byStudied by 10 people
Updated ... ago
5.0 Stars(1)
note Note
studied byStudied by 13 people
Updated ... ago
5.0 Stars(1)
note Note
studied byStudied by 10 people
Updated ... ago
5.0 Stars(1)
note Note
studied byStudied by 48 people
Updated ... ago
5.0 Stars(4)
note Note
studied byStudied by 3 people
Updated ... ago
4.0 Stars(1)
note Note
studied byStudied by 30 people
Updated ... ago
5.0 Stars(1)
note Note
studied byStudied by 44 people
Updated ... ago
5.0 Stars(1)

Explore top flashcards

flashcards Flashcard85 terms
studied byStudied by 9 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard61 terms
studied byStudied by 467 people
Updated ... ago
4.4 Stars(9)
flashcards Flashcard20 terms
studied byStudied by 5 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard86 terms
studied byStudied by 12 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard60 terms
studied byStudied by 20 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard85 terms
studied byStudied by 45 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard69 terms
studied byStudied by 18 people
Updated ... ago
5.0 Stars(1)
flashcards Flashcard32 terms
studied byStudied by 218 people
Updated ... ago
5.0 Stars(2)