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27 Multiple choice questions

  1. managing work-in-process inventory as it flows between stages of manufacturing. Master Production Schedule (MPS)
  2. 1.)Facility network
    2.)Order Processing
    3.)Inventory
    4.)Transportation
    5.)Warehousing, Material handling and Packaging
  3. Service and Cost Minimization

    -Firms must make appropriate tradeoffs between service and cost for each of their key customers
    -Why would the tradeoff potentially be different by customer?
  4. Direct delivery is done through each stage of the ecelon process.
  5. 1.)Responsiveness - Satisfy customer requirements in a timely manner.
    2.)Variance Reduction - The elimination of operations disruptions.
    3.)Inventory Reduction - Control asset commitment and turn velocity.
    4.)Shipment Consolidation - Reduce transportation costs through larger (and therefore fewer) shipments.
    5.)Quality - Continuous improvement towards zero defects.
    6.)Life Cycle Support - Cradle-to-cradle logistical support.
  6. -Order-to-Cash
    -Receipt
    -Delivery
    -Invoicing
    -Collection
  7. Focused on achieving the lowest total cost across each function of logistics
    A cost decision in one function should consider impact to costs of all other logistics functions
    For example, transporting material the cheapest way is likely slower than other choices. This requires an increase in storage cost to hold the material longer
    Therefore, would it still be the lowest total cost to use the cheapest mode of transportation?
  8. Focused on achieving the lowest possible cost for each individual function of logistics
    For example, transport the material the cheapest way possible
    Expected lowest cost based on decisions that were cheapest for individual functions
    Ignored the impact of cost decisions across logistics functions
  9. Move goods and materials from suppliers to buyers
    Move goods and materials between sites (internal & external)
    Move finished goods to the customer
  10. -Cost -vs- Total Cost
    -Balance Speed & Cost
    -Consistency:
    -Variability
    -Dependability
    -Service Quality
  11. -1.)Availability - having inventory to consistently meet customer material or product requirements

    -2.)Operational Performance - the time required to deliver a customer's order
    Key metrics for this area involve delivery speed and consistency
    Flexibility - to handle unexpected customer demand/requests
    Malfunction and recovery time - logistical failures and corrections

    -3.)Service Reliability - quality attributes of logistics
    Key to quality is accurate measurement of availability and operational performance over time
  12. Supplier ->Industrial distribution/Consolidation warehouse ->Manufacturer->Wholesaler or distribution center ->Retailer -> Customer
  13. -Nodes or "links" in the logistics supply chain
    -Inventory
    Base stock (sometimes also referred to as cycle stock)
    Safety stock (possibly even strategic stock in addition to safety stock)
    -Input and Output Requirements
    Input = Demand (e.g., orders)
    Output = Level of performance

    Dynamic

    May involve singe or multiple firms
  14. -Strategy & Design
    -Number
    -Location
    -Function
    -Ownership
  15. purchasing and arranging inbound movement of materials, parts, and/or finished inventory from suppliers into manufacturing or assembly plants, warehouses or retail stores
    -Purchasing
    -Procurement
    -Sourcing or Strategic Sourcing
    -Supply Management
    -Material Planning & Purchasing
  16. the movement of finished product to customers. The objective of logistics
  17. -Inventory Strategy
    -Customer Segmentation
    -Product Profitability
    -Transportation Integr.
    -Time-Based Perf.
    -Competitive Perf.
  18. The performance cycle represents elements of work necessary to complete the logistics related to customer accommodation, manufacturing or procurement
  19. Order processing
    Inventory Management
    Transportation
    Warehousing/Materials Handling to support.... Procurement, Manufacturing, and Customer Accommodation
  20. -Order Processing
    -Inventory
    -Transportation
    -Warehousing
    -Materials Handling
    -Packaging

    Integrated through a network of facilities
    e.g., warehouses & distribution centers
  21. -(Dependent on other Logistics Areas
    -Insourced -vs- Outsourced
    -Services Provided
    -Customization
    -Reverse Logistics
  22. Value of the shipment = $25,000
    Faster shipping is generally more expensive than slower shipping
    Carrier 1 (slower/standard) costs $250 to make the shipment
    Carrier 2 (faster/expedited) costs $20 more but delivers 1 day faster
    Product in transit is a form of inventory
    Holding costs for a shipment is 40% of value per year
    No other cost differences across remaining logistics functions

    Traditional cost you would choose carrier 1 beacause that is the lowest INDIVIDUAL cost. However Total cost method will consider more than that.
  23. (Annual holding cost X Product value) / 365
  24. -moved to the customer's point of consumption
    -Products are delivered at the right time.
    -Products are delivered to the desired location.
  25. Manufacturer -> Customer
  26. consists of a commitment to key customer expectations and requirements at a minimum cost
  27. is the design and administration of systems to control movement and geographical positioning of raw materials, work-in-process, and finished inventories at the lowest total cost.