Logistics

Logistics is the process of anticipating customer needs and wants; acquiring the capital, materials, people, technologies, and information necessary to meet those needs and wants; optimizing the goods- or service-producing network to fulfill customer requests; and utilizing the network to fulfill customer requests in a timely manner. This is ______________________

• A. A definition from an inventory perspective

• B. A General definition

• C. A Definition offered by the Society of Logistics Engineer.

• D. A definition provided by the Council of Logistics Management

All four subdivisions of logistics have some common characteristics. Which of the below does not belong in the list?

• A. Transportation

• B. Marketing

• C. Scheduling

• D. forecasting

A third-party logistics firm may be defined as _____________

• A. An outsource service

• B. A firm that owns trucks and warehouses

• C. A firm that owns trucks and warehouses and provide computer support

• D. An external supplier that performs all or part of a compare’s logistics functions.

When a specific point in time, or level of production, is chosen and costs are developed for the various logistics cost centers, it is called

• A. least cost analysis.

• B. short run analysis.

• C. cost center analysis.

• D. link node analysis.

The ____ of demand, customer orders, delivery status, inventory, stock levels, and production schedules provides managers with the knowledge needed to make effective situational assessments and develop appropriate responses.

• A. Visibility

• B. Availability

• C. Accuracy

• D. accountability

Due to mergers and acquisitions in the software industry and ERP vendors moving into the supply chain applications market space, it is possible to purchase

• A. best of breed solutions from leading providers in each category

• B. supply chain software suites that combine planning, execution, event management, and related capabilities

• C. spreadsheet software with expanded capabilities

• 
  
  D. event management tools that monitor the supply chain for events that are out of tolerance

What activity is described as the movement of goods into a warehouse, the placement of goods in a warehouse, and the movement of goods from storage to order picking areas and eventually to dock areas for transportation out of the warehouse?

• A. Materials handling’

• B. physical distribution

• C. business logistics

• D. order fulfillment

Which of the following is NOT one of the drivers of supply chain excellence?

• A. speed

• B. collaboration

• C. execution

• D. price/performance of applications

 __________ is/are a major barrier to the effective use of information technology.

• A. Cost

• B. People

• C. Effective application

• D. Management support

Oversupply is created by ____________

• A. Phantom demand

• B. Returns and cancellation

• C. Forecasting failures

• D. Poor channel selection