Logistics & International Trade Quiz

What is the objective of logistics?

• To reduce customer satisfaction

• To get resources in the right quantity, at the right location, and at the right time

• To increase costs

• To delay shipments

Which type of utility refers to the value or usefulness that comes from a customer being able to take possession of a product?

• Form utility

• Time utility

• Place utility

• Possession utility

What does the system approach to logistics imply?

• One logistics system fits all companies

• Each SKU is the same

• All relevant logistics cost items are considered simultaneously when making decisions

• There are no cost trade-offs in logistics

What is the main role of freight forwarders in international trade?

• To determine the best shipping alternatives

• To resolve disputes

• To clear customs

• To design products

Which infrastructure element is crucial for the exchange of trade documents between an exporter and an importer?

• Cranes

• Air draft

• Banks

• Port operations

What is the main objective of supply chain management?

• To reduce production

• To limit distribution channels

• To fulfill customer demand through the most efficient use of resources

• To increase demand

What is the purpose of demand forecasting in logistics?

• To estimate product demand in a future time period

• To track shipments

• To manage inventory

• To handle returns

Which type of infrastructure allows businesses to communicate clearly and quickly?

• Transportation infrastructure

• Utilities infrastructure

• Services infrastructure

• Communication infrastructure

What is the main role of customs brokers in international trade?

• To resolve disputes

• To clear customs

• To determine the best shipping alternatives

• To design products

Which type of infrastructure is essential for the reliable movement of goods within a country and between countries?

• Communication infrastructure

• Services infrastructure

• Utilities infrastructure

• Transportation infrastructure