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27 True/False questions

  1. The two elements of this value proposition areconsists of a commitment to key customer expectations and requirements at a minimum cost

          

  2. Logistics Includes These Major Functions:Move goods and materials from suppliers to buyers
    Move goods and materials between sites (internal & external)
    Move finished goods to the customer

          

  3. Logistical Integration - Achieving 6 Objectives Simultaneously1.)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.

          

  4. Manufacturing Production concentrates onmanaging work-in-process inventory as it flows between stages of manufacturing. Master Production Schedule (MPS)

          

  5. Facility network-Inventory Strategy
    -Customer Segmentation
    -Product Profitability
    -Transportation Integr.
    -Time-Based Perf.
    -Competitive Perf.

          

  6. How does Logistics Create Service Benefits?-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

          

  7. 2.)Order Processing-Cost -vs- Total Cost
    -Balance Speed & Cost
    -Consistency:
    -Variability
    -Dependability
    -Service Quality

          

  8. (Total cost method) Daily cost of holding product =(Annual holding cost X Product value) / 365

          

  9. 3.)Inventory-Inventory Strategy
    -Customer Segmentation
    -Product Profitability
    -Transportation Integr.
    -Time-Based Perf.
    -Competitive Perf.

          

  10. Logistical value propositionMove goods and materials from suppliers to buyers
    Move goods and materials between sites (internal & external)
    Move finished goods to the customer

          

  11. Customer Relationship Management ispurchasing 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

          

  12. Compare two alternative transportation carriers to move a shipment of electronic chipsValue 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.

          

  13. Total CostFocused 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

          

  14. Logistics includes the integration and management of the following activities:-Order Processing
    -Inventory
    -Transportation
    -Warehousing
    -Materials Handling
    -Packaging

    Integrated through a network of facilities
    e.g., warehouses & distribution centers

          

  15. Echelon Structured Logisticsis 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.

          

  16. Logistics Performance CycleMove goods and materials from suppliers to buyers
    Move goods and materials between sites (internal & external)
    Move finished goods to the customer

          

  17. A performance cycle consists of the following elements(Annual holding cost X Product value) / 365

          

  18. Direct delivery-Inventory Strategy
    -Customer Segmentation
    -Product Profitability
    -Transportation Integr.
    -Time-Based Perf.
    -Competitive Perf.

          

  19. Products have little value to the customer until they areService 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?

          

  20. The 5 Functions of Logistical Work are Interrelated1.)Facility network
    2.)Order Processing
    3.)Inventory
    4.)Transportation
    5.)Warehousing, Material handling and Packaging

          

  21. Procurement is concerned withpurchasing 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

          

  22. Logisticsis 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.

          

  23. 5.)Warehousing, Material handling and Packaging-(Dependent on other Logistics Areas
    -Insourced -vs- Outsourced
    -Services Provided
    -Customization
    -Reverse Logistics

          

  24. 4.)Transportation-Inventory Strategy
    -Customer Segmentation
    -Product Profitability
    -Transportation Integr.
    -Time-Based Perf.
    -Competitive Perf.

          

  25. Traditional CostFocused 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

          

  26. Logistics is necessary to:consists of a commitment to key customer expectations and requirements at a minimum cost

          

  27. Combined echelon and direct deliveryDirect delivery is done through each stage of the ecelon process.