Reference no: EM133549947

Questions

1. The definition of logistics provided by CSCMP includes all BUT which of the following?

• Storage of goods
• Forward flow of goods
• Control of financial flows
• Reverse flow of goods

2. Time utility involves:

• Getting things to a customer early so they can get their projects completed sooner.
• Reducing wasted time in the supply chain.
• Getting things to a customer exactly when needed.
• Improving a product's shelf life so it can be stored longer when needed.

3. What are the key activities in logistics?

• Managing customer payments, returns, and credits
• Supervision, production, and shipment
• Returns, reuse, and recycling
• Movement, storage, and processing

4. The most commonly used freight transportation mode is:

• Ship
• Rail
• Truck
• Air

5. Preparing all the grounds, facilities, and related needs for a big fundraiser is considered:

• Humanitarian logistics
• Business logistics
• Service logistics
• Event logistics

6. As transportation speeds up, which of the following is true?

• The cost of lost sales decreases.
• Total costs decrease.
• The cost of transportation decreases.
• All of the above.

7. Tradeoffs:

• Are everywhere.
• Should be identified and evaluated.
• Should be balanced to meet the right customer service/cost equation.
• All of the above

8. The waste of "waiting" refers to which of the following?

• An order that is received early by the customer and has to wait to be used.
• Having excess inventory that is waiting to be processed.
• Staging orders to be shipped in advance of when they are needed.
• Unloading and reloading the same shipment to improve the cube utilization instead of planning in advance.

9. Inventory waste refers to which of the following?

• Goods that are damaged
• Goods that are stolen
• Excess materials that customers or manufacturing don't currently need
• Only raw materials that are obsolete or poor quality

10. Which of the following is one of the goals of lean?

• Develop employee skills.
• Reduce top management intervention.
• Increase automation, thereby reducing human error.
• Eliminate waste.

11. Which of the following are key reasons to build a strong order fulfillment (i.e., delivery) capability?

• Out-of-stock occurrences are a leading cause of customer dissatisfaction.
• Service failures cost customers hundreds of billions of dollars every year.
• Fixing stockouts is easy to do, offering companies a quick and easy return on investment.
• On-time delivery is more important than product quality in almost every circumstance.

12. Which of the following is NOT one of the core deliverables of a logistics system?

• Transparency
• Timely delivery
• Protection against disruption
• Excess capacity
• Product availability

13. A company that has a contingency plan in place to protect against an unexpected disruption will be more ______________.

• Lean
• Agile
• Speedy
• Efficient

14. As a logistics manager, your mandate is to efficiently provide the service customers need. What is the two-step process that can help you match the customer's needs to the service offerings?

• Identify the relevant cost service tradeoffs and run the numbers to assess the costs and benefits of potential options.
• Execute to plan and economical expansion.
• Develop a trust signal to raise consumer confidence and contribute to a defined contribution pension.
• Create new service opportunities and deliver on time.

15. Tailored logistics is where companies give:

• All companies an equal level of service.
• Customers the opportunity to decide if they are willing to pay for extra services.
• Key accounts a fair, efficient service.
• Transactional relationships outstanding service.

16. What is a result of fair and efficient relationships with transactional customers?

• Customers are more critical of service failures
• Good relations lead to repeat business
• Increased complaints and damage reputation
• Customers may shorten the length of their contracts

17. Which of the following is NOT true regarding transactional relationships?

• They need to be managed efficiently and fairly.
• They represent up to 80% of all relationships.
• They are largely unimportant.
• They are vital to profitability.

18. What characteristics would you look for in an "A" customer?

• The customer accounts for a disproportionately large share of sales.
• The customer is profitable with high upside potential.
• The customer is a great prospect for future growth.
• All of the above

19. Backorders occur when you do not have inventory in stock and your customer:

• Decides to keep her business with your organization and wait for the desired product.
• Decides to take her future business elsewhere.
• Cancels the order because she decides she has enough inventory already.
• Switches to a different brand.

20. Who potentially suffers/shares the costs of an out-of-stock product?

• You, the buyer
• The retailer
• The finished-goods manufacturer/provider
• All of the above