What is the actual nature of transportation demand

Reference no: EM132377350 , Length: word count : 250

Chapter 1 TRANSPORTATION: CRITICAL LINK IN THE SUPPLY CHAIN

Learning Objectives

After reading this chapter, you should be able to do the following:

• Discuss the changing global landscape for businesses and other organizations and the external forces that are driving change in the global economy

• Understand the special nature of transportation demand and the influence of transportation on companies and their supply chains operating in a global economy

• Appreciate the role of transportation in the movement of people and the influence such movement has on population centers and businesses

• Gain insight into the challenge of developing appropriate metrics for transportation output

• Discuss the economic concept of price elasticity as it relates to transportation demand

• Explain the concept of derived demand as it applies to transportation movements

• Discuss how transportation service adds value to a product

• Explain the importance of the components of transportation service that relate to the movement of freight and their impact upon supply chain costs

• Appreciate how transportation affects the development of economic activity for companies and other organizations

• Understand the development of supply chain management and the importance of transportation to supply chains

STUDY QUESTIONS

1. What are the major forces or external factors that have impacted our economy during the latter part of the 20th and early part of the 21st centuries? How have each of these factors influenced companies as well as their respective supply chains? Which of these factors do you feel is the most important for a computer company? Why?

2. What is the actual nature of transportation demand? How does transportation demand influence individual companies in the economy?

3. Measuring transport output can be challenging to individuals trying to make a comparison among modes of transportation. Why is this measurement so challenging or difficult? Is there a better measure? Why or why not?

4. What is meant by the concept of derived demand? Why is it so important in the area of transportation for shippers and carriers? Does this concept have application in other areas? Give some examples.

5. Explain the difference between elastic and inelastic demand. Why are the two concepts important to transportation demand?

6. The aggregate demand for transportation service is said to be inelastic while the demand for an individual mode or carrier is often elastic. Explain why this is important to carriers and shippers.

7. Explain the concept of total landed cost as it relates to transportation. How does it influence market boundaries?

8. Discuss the various dimensions of transportation service and their impact upon costs for a company.

9. What is the role of transportation in a supply chain? Why is this role so important in today’s environment?

10. Provide a brief overview of the three phases of development for supply chain management.

Note- Please answer Question 5 & 9. these 2 questions from the chapter.

Attachment:- Chapter 1.rar

Reference no: EM132377350

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