
55 True/False questions
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Reverse Auction → Bridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer
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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
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Enterprise resource planning (ERP) system → Creates and maintains consistent data processing methods and an integrated database across multiple business functions
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Transaction processing system (TPS) → Collects and stores information about transactions; controls some aspects of transactions
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Logistics optimization models → People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers
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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
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Landed costs → Price of a product at its source plus transportation costs to its destination
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Postponement → The delay of value-added incentives such as assembly, production, and packaging to the latest possible time
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Container → A uniform sealed reusable metal "box" in which goods are shipped
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Time utility → Having products available when they are needed by customers
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Radio-frequency identification (RFID) → The use of radio frequency to identify objects that have been implanted with an RFID tag.
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Sorting function → Bridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer
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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.
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Simulation → A technique that models a real-world system, typically using mathematical equations to represent the relationships among components of the real-world system
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Cloud Computing → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data
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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
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Possession utility → Refers to the value or usefulness that comes from a customer being able to take possession of a product
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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
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Enterprise system → Logistics modules of enterprise resource planning systems
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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.
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Wireless communication → Refers to communication without cables and cords, and includes infrared, microwave, and radio transmissions
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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
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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 -
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
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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
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Co-Branding → Refers to an alliance that allows customers to purchase products from two or more name-brand retailers at one store location
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Data mining → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data
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Warehouse Management System (WMS) → A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.
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Transaction processing system (TPS) examples → EDI; Point-of-sale systems, bar codes
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Physical Distribution → Storage of finished product and movement to the customers
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Information → A body of facts in a format suitable for decision making
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Cost Trade-offs → Changes to one logistics activity cause some costs to increase and others to decrease
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Decision support system (DSS) → Simulation, data mining
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Communication system examples → Helps people work together by interacting and sharing information in many different forms
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Communication system → Virtual meetings via computer technology
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Materials Management → Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data
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Electronic Data Interchange (EDI) → Uses the internet to make it easier, faster, and less expensive for an organization to purchase goods and services
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MIS and EIS examples → Logistics information system (LIS)
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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.
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Enterprise system examples → Virtual meetings via computer technology
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Logistics Information System (LIS) → People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers
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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
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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
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Place utility → Having products available when they are needed by customers
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Electronic Procurement (e-procurement) → Computer-to-computer transmission of business data in a structured format
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Decision support system (DSS) examples → Simulation, data mining
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Transportation Management System (TMS) → A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.
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Data Warehouse → A central repository for all relevant data collected by an organization
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Application Specific software → Helps people work together by interacting and sharing information in many different forms
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Disintermediation → The removal of levels (Layers) from a channel of distribution
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Office automation system → Spreadsheet applications to calculate optimal order quantities
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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
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Global positioning systems (GPS) → Use satellites that allow companies to compute vehicle positions, velocity, and time
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Stock-keeping units (SKUs) → Being out of an item at the same time there is a willing buyer for it
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Office automation system examples → Provides effective ways to process personal and organizational business data, to perform calculations, and to create documents