55 True/False questions

1. Reverse Auction → Bridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer

   True        False

2. Marketing Channels → A set of institutions necessary to transfer the title to goods and to move goods from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process

   True        False

3. Enterprise resource planning (ERP) system → Creates and maintains consistent data processing methods and an integrated database across multiple business functions

   True        False

4. Transaction processing system (TPS) → Collects and stores information about transactions; controls some aspects of transactions

   True        False

5. Logistics optimization models → People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers

   True        False

6. Big-box Retailer → The collection of large amounts of near real-time data collected through a variety of sources, such as sensors, smart phones, RF tags and business-to-business data exchanges

   True        False

7. Landed costs → Price of a product at its source plus transportation costs to its destination

   True        False

8. Postponement → The delay of value-added incentives such as assembly, production, and packaging to the latest possible time

   True        False

9. Container → A uniform sealed reusable metal "box" in which goods are shipped

   True        False

10. Time utility → Having products available when they are needed by customers

    True        False

11. Radio-frequency identification (RFID) → The use of radio frequency to identify objects that have been implanted with an RFID tag.

    True        False

12. Sorting function → Bridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer

    True        False

13. Total Cost Approach → A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm, such as marketing, production, finance, and logistics.

    True        False

14. Simulation → A technique that models a real-world system, typically using mathematical equations to represent the relationships among components of the real-world system

    True        False

15. Cloud Computing → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

    True        False

16. Tailored logistics → The process and systems involved in mobilizing people, resources, skills, and knowledge to help people who have been affected by either a natural or human-made disaster

    True        False

17. Possession utility → Refers to the value or usefulness that comes from a customer being able to take possession of a product

    True        False

18. On-demand software (Software-as-a-service) → Refers to software that users access on a per-use basis instead of software they own or license for installation

    True        False

19. Enterprise system → Logistics modules of enterprise resource planning systems

    True        False

20. Systems approach → A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm, such as marketing, production, finance, and logistics.

    True        False

21. Wireless communication → Refers to communication without cables and cords, and includes infrared, microwave, and radio transmissions

    True        False

22. Stockouts → The collection of large amounts of near real-time data collected through a variety of sources, such as sensors, smart phones, RF tags and business-to-business data exchanges

    True        False

23. Logistics → 1. Logistics is that part of the supply chain
    2. Process that plans, implements, and controls the efficient
    3. Effective forward and reverse flow and storage
    4. Of goods, services, and related information
    5. Between the point of origin and the point of consumption
    6. In order to meet customers' requirements

    True        False

24. Big data → A technique that models a real-world system, typically using mathematical equations to represent the relationships among components of the real-world system

    True        False

25. Economic utility → Refers to a product's being in a form that can be used by the customer and is of value of the customer

    True        False

26. Co-Branding → Refers to an alliance that allows customers to purchase products from two or more name-brand retailers at one store location

    True        False

27. Data mining → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

    True        False

28. Warehouse Management System (WMS) → A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.

    True        False

29. Transaction processing system (TPS) examples → EDI; Point-of-sale systems, bar codes

    True        False

30. Physical Distribution → Storage of finished product and movement to the customers

    True        False

31. Information → A body of facts in a format suitable for decision making

    True        False

32. Cost Trade-offs → Changes to one logistics activity cause some costs to increase and others to decrease

    True        False

33. Decision support system (DSS) → Simulation, data mining

    True        False

34. Communication system examples → Helps people work together by interacting and sharing information in many different forms

    True        False

35. Communication system → Virtual meetings via computer technology

    True        False

36. Materials Management → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

    True        False

37. Electronic Data Interchange (EDI) → Uses the internet to make it easier, faster, and less expensive for an organization to purchase goods and services

    True        False

38. MIS and EIS examples → Logistics information system (LIS)

    True        False

39. Sustainable Products → A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm, such as marketing, production, finance, and logistics.

    True        False

40. Enterprise system examples → Virtual meetings via computer technology

    True        False

41. Logistics Information System (LIS) → People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers

    True        False

42. Form utility → Refers to a product's being in a form that can be used by the customer and is of value of the customer

    True        False

43. Management information system (MIS) and Executive information system (EIS) → Converts TPS data into information for monitoring performance and managing an organization; provides executives information in a readily accessible format

    True        False

44. Place utility → Having products available when they are needed by customers

    True        False

45. Electronic Procurement (e-procurement) → Computer-to-computer transmission of business data in a structured format

    True        False

46. Decision support system (DSS) examples → Simulation, data mining

    True        False

47. Transportation Management System (TMS) → A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.

    True        False

48. Data Warehouse → A central repository for all relevant data collected by an organization

    True        False

49. Application Specific software → Helps people work together by interacting and sharing information in many different forms

    True        False

50. Disintermediation → The removal of levels (Layers) from a channel of distribution

    True        False

51. Office automation system → Spreadsheet applications to calculate optimal order quantities

    True        False

52. Humanitarian logistics → The process and systems involved in mobilizing people, resources, skills, and knowledge to help people who have been affected by either a natural or human-made disaster

    True        False

53. Global positioning systems (GPS) → Use satellites that allow companies to compute vehicle positions, velocity, and time

    True        False

54. Stock-keeping units (SKUs) → Being out of an item at the same time there is a willing buyer for it

    True        False

55. Office automation system examples → Provides effective ways to process personal and organizational business data, to perform calculations, and to create documents

    True        False