SCM 4

Logistics adds _____ to the supply chain process when inventory is strategically positioned to achieve sales.

Blank 1: value

Logistics that is managed in order to achieve customer satisfaction while avoiding budget fees will create which of the following?

Value

Logistical performance is measured by inventory availability, operational _____ , and service reliability.

Blank 1: performance

True or false: Understanding total cost opened the door to examining how functional costs interrelate and impact each other.

true

True or false: The key to achieving logistical leadership is not to master the art of matching operating competency or commitment to key customer expectations and requirements.

False

Which competency do firms use and understand to help achieve competitive advantage?

logistical

Logistics exist to move and position inventory to achieve desired time, place, and _____ benefits at the lowest total cost.

Blank 1: possession

Logistics should be managed as an integrated effort to achieve customer satisfaction at the lowest total _____ .

Blank 1: cost

The relative importance of each facet of operational information is directly related to the degree to which a supply chain is positioned to function on a(n) _____ or _____ basis.

Blank 1: responsive

Blank 2: anticipatory

The level of service a firm provides all established customers is known as what type of service?

Logistics

Excessive inventory may compensate for ______ in the design of the logistics system but will ultimately result in a higher than necessary total system cost.

deficiencies

Many long-standing practices of accounting continue to serve as a _____ to fully implementing total cost logistical solutions.

Blank 1: barrier

True or false: Transportation is a subset of logistics that geographically moves and positions inventory.

True

The typical enterprise seeks to develop and implement an overall logistical competency that satisfies _____ expectations at a realistic total cost expenditure.

Blank 1: customer

Order processing, inventory, and transportation creates a system solution for _____ logistics.

Blank 1: integrated

Which of the following will have limit value when positioned at the right place and the right location?

Inventory

Besides forecasting, what is the other customer requirement of logistical work driven by information?

communication

\_____ network design is a primary responsibility of logistical management.

Blank 1: Facility

True or false: The objective of an inventory strategy is to achieve fill rates with the minimum inventory commitment.

True

Firms must achieve the following between the customers and suppliers to be fully effective in today's competitive environment.

Integration

What is one reason why transportation receives considerable managerial attention.

Cost

Which level of management is concerned with the movement and storage of inventory?

Operational

What is the term for a firm that acquires services of a warehouse specialist?

3PL

Dealing with the varied aspects of serving customers is typically called customer _____ .

Blank 1: accommodation

The overall concern of manufacturing support is not how production occurs but rather what, when, and where _____ will be manufactured.

Blank 1: products

What does the facility network create from which logistical operations are performed?

Structure

Purchasing and arranging inbound movement of materials, parts and/or finished inventory from suppliers into manufacturing or assembly plants, warehouse, or retail stores is known as _____ .

Blank 1: procurement or procuring

The logistical process is viewed in terms of two interrelated flows: inventory and _____ .

Blank 1: information

To avoid the misdirection of the logistical system,what type of information must be present?

Accurate

Logistical operations are _____ when a manufactured product is delivered to the customer. (Enter only one word per blank.)

Blank 1: finalized

How must the six operational objectives perform in order to achieve logistical integration?

simultaneously

In order to provide customers product availability, which of the following does not align with the others involved?

3PL

What is under the control of the manufacturing enterprise needed to support movement requirements?

Scheduling

Which of the following is not referred to as the process of acquisition?

Selling

What will a firm that has logistical attributes of inventory availability and timely delivery upon receiving a customer's order be expecting from that customer?

Commitment

The primary objective of information flow management is to _____ and streamline information connectivity.

Blank 1: reconcile

What is the reason for expediting transportation to overcome unexpected variances in planned deliveries?

Delays

Inventory can and does facilitate desirable benefits, and is critical to achieving economies of _____ .

Blank 1: scale

The six operational objectives are responsiveness, variance reduction, inventory reduction, shipment consolidation, _____ , and life cycle support.

Blank 1: quality

A system objective is to achieve shipment _____ in an effort to reduce transportation cost per each individual shipment.

Blank 1: consolidation

A firm's ability to satisfy customer requirement in a timely manner is referred to as _____ .

Blank 1: responsiveness

What is the condition of a product that will result in the logistics process having little to no value?

Defective

What is the purpose of synchronizing within supply chain?

Leverage

Normally, most organizational objectives can be summarized as:

survival, growth, financial, and sustainability.

Supply strategies that are based on changes in demand and supply are known as:

assurance-of-supply strategies.

A zero defects quality strategy emphasizes:

Do it right the first time

When developing supply strategies, the supply manager must determine:

what to make or buy, when to buy, how much to buy and how it should be ordered.

When developing strategies related to "how to buy," decisions must be made about:

systems and processes.

Supply strategies that are designed to anticipate and recognize shifts in the economy, organization, people, legal, government regulations and controls, and technologies are:

environmental change strategies.

A strategy is:

an action plan to achieve specific long-term goals and objectives.

If organizational objectives and supply objectives are incongruent:

it will be difficult to translate organizational objectives into supply objectives.

Strategic planning can be defined as:

an action plan to achieve specific long-term goals and objectives.

Normally, most organizational objectives can be summarized under four categories:

survival, growth, financial, and sustainability.

Organizational objectives and supply objectives typically are expressed:

differently, making it difficult to translate organizational objectives into supply objectives.

True or false:

The key decisions and plans in corporate strategy address: What business are we in and how will we allocate resources among these businesses?

True

\
True or false:

Supply chain sustainability performance must comply with legal obligations and meet the values and standards of the organization's stakeholders, including employees, shareholders, and customers.

True

Three major challenges facing supply executives when setting supply strategies and objectives are:

(1) What is the effective interpretation of corporate objectives and supply objectives? (2) What is the appropriate action plan or strategy to achieve the desired objectives? and, (3) How can supply issues be identified and integrated into organizational objectives and strategies?

Where does the primary profit lie for products like copying equipment and printers, in addition to the aftermarket service?

Sale of supplies

What is the objective of turn velocity in relation to inventory stock?

Replenishes

A designed logistics operating structure must offer a balance of _____ , cost, and flexibility.

Blank 1: performance

What in transportation is directly accumulated by the type of product, size of shipment, and distance traveled?

Cost

The fundamental operational objective is continuous quality _____ .

Blank 1: improvement

The flow of products through an established arrangement of firms from the origin to final destination is regarded as which structure?

Echelon

The possibility of aftermarket service, product recall, and product disposal is an act of cradle-to- _____ .

Blank 1: cradle

What is the term for delivering shipments going from plant-to-customers via trucking?

Direct

True or false:

Two common characteristics to logistical arrangements are managing inventory positioning and the range of alternatives being limited by available technology.

True

Where are the fast moving products positioned in the warehouse as an inventory strategy?

Forward

When a shipping facility is out of stock, what will this situation be considered?

emergency

In order to meet customers' requirements, inventories are positioned in warehouses for rapid _____ .

Blank 1: deployment

Supply chain synchronization is the _____ operational integration. (Enter one word in the blank.)

Blank 1: multifirm or multi firm

When the economics permit, logistics planners desire direct shipments because they reduce _____ inventories and related product handling. (Enter one word in the blank.)

Blank 1: anticipatory

What is the result of the performance cycle after reaching each milestone of customer accommodation, manufacturing, or procurement?

Completion

The ideal logistical arrangement is when the echeloned and direct logistics are _____ .

Blank 1: combined, merged, integrated, or amalgamated

Flexible operations are preplanned _____ strategies to prevent logistical failures.

Blank 1: contingency

True or false: The objective of logistics in all operating areas is not always to reduce performance cycle uncertainty.

False

Performance cycles become dynamic as they accommodate _____ requirements.

Blank 1: input/output

Regardless of technology deployed, operational variance will occur as a result of daily changes in workload and resolution of _____ events.

Blank 1: unexpected

The work of logistics involves ______.

transportation, inventory, order processing, warehousing, and facility network design

The goal of logistics is to ______.

support procurement, manufacturing, and customer accommodation

In 2016 US business logistics costs represented what portion of Gross Domestic Product (GDP)?

7.5%

Facility network design is concerned with which of the following?

\-How many buildings.

\-The location of the buildings.

\-The ownership structure of the buildings.

\--All--

Logistical operations have two main flows: ______.

inventory and information

Which one of these concepts is not part of logistical integration objectives?

Using less parcel shipping.

Logistics is ______.

\-concerned with getting the right product to the right place at the right time, at minimum cost

* a critical component to supply chain success
* the catalyst of activity between different supply chain functional areas such as procurement and warehousing
* the process that links supply chain participants into integrated operations

\--all--

Performance cycle uncertainty has the following trait: ______.

the larger the variance to desired goal, the bigger the impact

Total Cost Logistics Model takes into consideration ______.

all expenditures necessary to perform logistical requirements

Echelon logistics operating arrangements accomplish which of the following?

Utilize warehouses to create inventory assortments and achieve consolidation economies.

The logistics value proposition is ______.

the unique commitment of a firm to an individual or customer group

Logistics systems should be designed to achieve customer service goals while maintaining lowest possible financial investment in ______.

inventory

The 80/20 rule, often called the Pareto principle means: ______.

20% of the SKU base will drive 80% of the demand

Supply chain synchronization attempts to achieve which of the following?

Coordinate multiple firms activities across the supply chain.

Declining transport rates per unit of weight as the weight shipped increases represents ______.

economy of scale

The Jones Company learned that several other shippers located in its hometown had customers located in the same markets it serves. With this information, Jones could find it advantageous to investigate the potential of ______.

pooled delivery consolidation

There is increasing consolidation for the major logistics and supply chain service providers. Which of the following is the major justification for this consolidation?

To offer a broad platform of integrated services.

Which of the following are the major reasons for supply chain outsourcing?

\-To take advantage of operational economies of scale.

\-To provide more flexibility regarding capacity.

\-To allow the firm to outsource non-core activities.

All

Which of the following transportation modes is the best for end-to-end delivery?

Motor

Which of the following is NOT a driver of consolidation in the third-party logistics industry?

Manufacturing capability.

An organization that provides non-asset-based global network, inbound and outbound optimization is generally characterized as ______.

4PL or logistics integrator

If you want the consignee to be responsible for goods while they are in-transit you should ship products ______.

to FOB origin

Economic regulation of transportation includes all the following, EXCEPT ______.

regulation of drivers