logistic supply chain

To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

• reduction-inventory management

• supply chain management

• economic order quantity

• just-in-time logistics

3PL stands for

• a) three points logistics

• b) third party logistics

• c) three points location

• d) none of the above

Which can be defined by having the right item in the right quantity at the right time at the right place for the right price and is the science of process and incorporates all industry sectors

• a) Logistics

• b) SCM

• c) Transportation

• d) Shipment

Which of the following automates the different steps and stages of the supply chain?

• A. Bullwhip effect

• B. Demand planning software

• C. Supply chain planning software

• D. Supply chain execution software

Which of the following generates demand forecasts using statistical tools and forecasting techniques?

• A. Bullwhip effect

• B. Demand planning software

• C. Supply chain visibility

• D. Supply chain execution software

Which of the following is a top reason why executives use SCM to manage extended enterprises?

• A. Increase costs

• B. Cost control

• C. Productivity reduction

• D. Process cycle time increments

The terms 'purchasing' and 'procurement' are often used synonymously but which of the following statements provides a more refined distinction?

• Purchasing has a broader meaning than procurement

• Procurement has a broader meaning than purchasing

• Procurement is broadly equivalent to purchasing

• None of the above

Choose the correct answer: Packing goods in small, separable units. Also: a system of transporting cargo as separate pieces rather than in containers.

• Order picking

• Transshipment

• Cross-docking

• Break-bulk

What is the definition of procurement?

• The process of ordering goods from a supplier just before they run out

• The act of keeping track of the history of an organization's activities

• The management control point where all significant purchases are monitored

• The computer-to-computer exchange of routine business data

What is the purpose of the JIT system in procurement?

• To maintain a large inventory of goods

• To exchange routine business data between trading partners

• To order goods in bulk from multiple suppliers

• To increase efficiency and decrease waste