LSCM Exam 1

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Supply Chain Logistics Management, involves collaboration between firms to connect suppliers, customers, and other partners as a means of boosting efficiency and producing value for the end consumer.

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1

Supply Chain Logistics Management, involves collaboration between firms to connect suppliers, customers, and other partners as a means of boosting efficiency and producing value for the end consumer.

True

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2

According to the articles which of the following are part of the six components of Supply Chain?

all of the above

-planning

-sourcing

-delivering/distribution

-making/manufacturing

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3

The article discusses about one advantage of global supply chain. Is it true that supply chains ability to scatter patents and manufacturing sites around the globe can help then reduce the corporate taxes overall?

True

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4

What kind of logistics problem is Katie Francfort speaking about in her TedX talk?

Vaccine delivery to remote parts o the world that require temperature control

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5

Katie Francfort asks us to rethink the prospect of using the question as part of the solution in the field of logistics and beyond.

True

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6

The total population of a county is the only aspect thats important but not the age distribution as part of the Supply Chain Flows and Global Commerce.

False

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7

The rise of Urbanization and Megacities will present opportunities and challenges, select all statements that are correct?

-The private sector can play an important role in the development of these large urban communities

-The sheer size and density of the cities will require much effort and innovation

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8

The availability and sharing of such information has become a major force for driving competition and the development of new business models.

True

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9

The last decade of the twentieth century was a period of rapid change for organizations, especially businesses.

True

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10

Supply chain managers no longer need to worry about suboptimization in light of today's technology

False

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11

A key element in Wal-Mart's ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system.

True

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12

Globalization has had little effect on consumers.

False

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13

Supply and demand has become less volatile as managers become more adept at controlling the elements.

False

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14

Outsourcing is a fairly new concept.

False

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15

SAB should examine their off-shore purchasing policy, even though the products are sourced from the U.S.

True

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16

The world economy still favors the United States and European countries, even though China and India can participate in the global economy much more readily.

False

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17

The U.S. transportation system was deregulated in the 1930s and 1940s in response to economic conditions and World War 2.

False

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18

Even though there are references to supply chain management in the 1980s, SCM did not capture the attention of senior-level management until the 1990s.

True

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19

The Trade Act of 2002 requires exporters to electronically submit shipping documents to U.S. Customs 24 hours after delivery to a port or 24 hours before vessel departure.

True

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20

About 60 percent of the international cargo of the United States moves through its ports, or about 1 billion tons annually.

False

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21

What is a "green lane" from the context of U.S. Customs Service

-Protect the U.S. and its global supply chain partners

-speed goods across the border

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22

Which type of global logistics channel intermediary enables goods to move through customs more easily by knowing the materials and methods to use in constructing the most economical crate or container to hold goods for shipment?

Export packer

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23

Globalization is not considered to be one of the external factors driving change in logistics.

False

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24

A firm using air transportation cannot use the same packaging for international shipping as for domestic shipping because many cargo aircraft are not pressurized.

False

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25

A Foreign Freight Forwarder is unregulated by the government.

False

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26

Export Trading Companies and Export Management Companies are essentially the same.

False

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27

An importer can store goods in a bonded warehouse for up to three years without paying duty.

true

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28

The third era of globalization is said to have begun around the year 2000. The significant characteristic of this era is that it is being powered by individuals and smaller organizations rather than global multi-nationals.

True

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29

The supply chain should manage three important flows, namely, materials/products, information, and financials.

True

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30

Operating globally has become harder to accomplish for individuals and small companies.

False

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31

The terms of a demise charter transfers full control of the chartered vessel to the charterer.

True

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32

Customs Trade Partnership Against Terrorism (C-TPAT) is a mandatory program in which importers must participate.

Flase

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33

The North American Free Trade Agreement has removed all trade barriers between the U.S., Canada, and Mexico.

Flase

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34

A Maquiladora plant can be located anywhere in South America.

False

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35

Ocean transportation offsets slower service with lower rates than other modes.

True

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36

There are five principal types of economic utility that add value to a product or service: form (transformation), time, place, quantity, and possession. Which statement is NOT true?

Place utility is part of marketing

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37

Apple Inc. effort to combine the software required for its iPhone with different storage requirement for the consumer (64GB, 128GB, 256GB etc.) would be an example of which kind of utility?

Form utility

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38

Why is storage a tradeoff relationship with transportation? More than one answer could be correct, mark all the correct answers.

-level of inventory is directly in relationship with transportation

-An organization might consider using a faster, more expensive mode of transportation to eliminate warehouse space and inventory.

-relatively slow transportation means more lead time to receive the product, which means more storage space needed to satisfy the demand

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39

Inventory control means "Assuring adequate inventory levels requires monitoring current inventory levels and placing appropriate replenishment orders from manufacturing or vendors to prevent stockouts."

True

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40

Procurement decisions does not need to be made from a systems perspective?

False

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41

A logistics channel is a supply chain of network organizations engaged in transfer, storage, handling, communication, and other functions that contribute to the efficient flow of goods

True

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42

As a firm spends more on transportation service, cost of lost sales:

Decrease

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43

As a firm spends more on transportation service, cost of lost sales increases.

False

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44

As the dollar value of a product decreases, its inventory value decreases.

true

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45

As the dollar value of a product decreases, its transportation cost:

decreses

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46

As the dollar value of a product increases, packaging costs:

increase

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47

As the weight density of a product decreases, transportation cost per pound:

increase

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48

In a logistics system, warehousing should be optimized at the expense of related logistics activities, such as transportation and procurement.

False

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49

The inverse relationship that exists between the cost of lost sales and inventory costs is the inventory effect.

True

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50

The mathematical calculation of the point of equality between systems under analysis is used for short-run/static analysis.

false

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51

The most important trade-off in logistics is between:

transportation and warehousing

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52

The utility created through the basic marketing activities is known as place utility.

False

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53

To hold down distribution cost, the lowest cost carrier should always be used.

False

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54

Transportation is the physical movement or flow of goods.

True

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55

Surprisingly, conducting prior online research on the retailer's own site or sites of other retailers led to 13% greater in-store spending among omnichannel shoppers.

True

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56

From the PPT slides attached What are My Distribution Channels, specifically how many fulfillment channel and information channels exist?

(2,2)

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57

Why does Costco have a lower cost structure than Amazon even though it is decentralized?

Costco has Lower SG&A and Lower Inventory Weeks

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58

High demand uncertainty High value having decentralized inventory will result in ________________ cost for consumers

Premium

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59

Amazon has increased the premium its customers pay for fast moving products

true

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60

If your product has the following characteristics: High uncertainty, High value, Low information content. Which channel do you utilize.

pure online

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61

How to Distribute Detergent & Diapers for Amazon?

centralized distribution

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62

If you have centralized distribution your inventory turns are fewer because of inventory pooling.

true

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63

A channel of distribution is controlled by the marketing department, which selects the physical structures and intermediaries through which the product(s) flow.

False

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64

An advantage to dedicated fulfillment is:

no disruption to store operatoins

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65

Application of the grid technique to the location of a city warehouse:

incorporates a blanket rate structure that applies the same rate from an origin to any point within the city or commercial zone.

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66

As the length and complexity of a supply chain increases, a firm's inventory levels:

increase

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67

As the number of stocking points (DCs) is decreased in a distribution network, fixed costs will _____ and variable costs will _____.

decrease;decrease

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68

Corporate reengineering is often a reason for examining the firm's current logistics/supply chain network.

true

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69

Demand for transportation at the microeconomic level is _____ while the demand for transportation at the macroeconomic level is _____.

elastic; inelastic

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70

Facilities may sometimes be located where senior officers prefer.

true

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71

heuristic models

are able to accommodate broad problem definitions.

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72

In a commercial zone, the same transportation rate is applied from an origin to any point in the zone.

true

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73

In the short run, the firm's network is _____ while in the long run it is _____.

fixed; variable

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74

Labor-intensive industries place significant emphasis on the availability and cost of labor.

true

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75

Logistics facilities and their locations are relatively variable and easily modified in the short term.

false

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76

One impact that the transit privilege has on facility location is that intermediate locations can be optimum.

true

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77

simulation models

allow the decision maker to test the effects of alternative locations.

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78

The classic objective of a network design model has been to:

establish the number, location, and size of finished goods distribution centers and associated product flows.

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79

The efficiency and effectiveness of a logistics/supply chain operation are constrained by the location of plants and warehouses in its overall network.

true

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80

The grid technique:

assumes that the raw materials sources and finished goods markets are fixed

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81

The grid technique determines the highest cost facility location in an area.

false

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82

The grid technique is used to determine a fixed facility location that represents the least-cost center for moving incoming materials and outbound product within a geographic grid. This least cost center is also referred to as a:

center of gravity

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83

The grid technique will evaluate all transportation rates equally.

false

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84

The optimization model is based on:

precise mathematical procedures

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85

The quality of life locational determinant is most important to companies that must attract and retain an unskilled, static work force.

false

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86

This type of fulfillment model has the manufacturer delivering its products directly to the retailers' stores.

none of these answers

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87

What is the effect of tapering rates on facility location?

It pulls the location toward the source or the market.

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88

What type of change may suggest a need to reevaluate and/or redesign a firm's logistics network?

-All of these answers

-Change in corporate ownership

-Change in customer service requirements

-Shifting locations of customer and/or supply markets

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89

When a blanket rate structure is used, which factor is eliminated as a locational determinant?

transportation rate

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90

Which is an advantage of the grid technique for facility location?

computationally, it is relatively easy to use

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91

Which is correct regarding tapering rates?

The principle is based on the carrier's ability to spread certain fixed shipment costs over a greater number of miles.

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92

Which major locational determinant considers locating near the competition?

company preferance

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93

Which of the following is true regarding optimization models?

Optimization models are based on precise mathematical procedures that are guaranteed to find the "best" solution for the problem under evaluation.

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94

Which of these is NOT a trend in today's logistics environment that may have significant effects on decisions involving logistics facility location?

Addition of many wholesaler/distributor operations

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95

Purchasing, Procurement and Strategic Sourcing mean all the same?

False

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96

The statement "enhanced teamwork and professionalism—to include suppliers and customers, as appropriate" is part of which of the following?

strategic sourcing

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97

"Managing Strategic Sourcing Process" (MSSP) is a strategic sourcing process. Beginning with development of a strategic plan for the strategic sourcing process, this model recognizes several elements, each of which contributes significantly to a comprehensive MSSP process.

true

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98

Focus on supplier economics—No need to work with supplier for economies of scale.

false

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99

The sourcing strategy should include ____________ selection criteria and a process for evaluating submissions from multiple suppliers.

supplier

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100

well known recognized approaches for selecting suppliers.

Total Quality management- TQM

Six Sigma

ISO 9000

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