LOG FIGHT!

Which of the following options best describes the goal of logistics to minimize stock while meeting customer service goals for cost-effective logistics?

 

 

(a)  

• Minimum variance.
• Maximize variance.
• Minimum inventory.
• Maximize inventory.

What aspects are directly considered in a regional logistics assessment?

 

 

•   Assessment of cultural factors.

    

•   Review of regional cuisines and culinary traditions.

    

•     Analysis of regional fashion trends and clothing industries.

•      Having good geographic features and physical infrastructures.

Selling terms in logistics refers to the point at which ownership is passed from the seller to the buyer and arrangements for carriage activities. The word “carriage” from this statement refers to:

 

 

•   Who will take ownership?

    

•      Who will receive the product?

    

•     Who will arrange for the shipment?

•         Who will assume the risk of loss or damage?

Determine the specific logistical term referring to the point at which the seller’s responsibility ends, and the buyer assumes the risk of loss or damage during the transaction.

 

(a)  

• Point of origin.
• Point of transfer.
• Point of delivery.
• Point of acceptance.

GlobalTech, a renowned technology company, is explopring international opportunities to expand its market reach. GlobalTech is considering a free trade agreement with another country. What is the primary goal of this agreement?

 

• Limiting excess to foreign markets.

• Increasing import taxes and trade barriers.

• Enhancing local manufacturing capabilities.

• Easing the exchange of goods and services by reducing trade barriers.

Regional logistics assessment solely involves examining political stability and does not consider physical infrastructure or geographical factors.

(a)  

• True
• False

Companies can achieve cost savings through global sourcing because of reduced labor and production expenses in specific countries.

(a)  

• True
• False

Nations engage in trade primarily to limit their access to a variety of goods and services, leading to self-sufficiency and reduced dependence on other countries.

• True

• False

Consignor is the buyer who purchase the goods while consignee is the company that owns or control the freight.

• True

• False

One of logistics goals is providing life cycle support, which entails not only delivering products but also managing the handling of returned items such as product recall.

• True

• False