Business Logistics Final Exam *Q&A* |Verified Study Set| 2025/2024
3 views 0 purchase
Course
Logistics
Institution
Logistics
Business Logistics Final Exam *Q&A*
|Verified Study Set| 2025/2024
What is the primary goal of logistics management in a business context?
To optimize the flow of goods and services from origin to consumption.
Which logistics function involves the planning and control of the movement of good...
Business Logistics Final Exam *Q&A*
|Verified Study Set| 2025/2024
What is the primary goal of logistics management in a business context?
To optimize the flow of goods and services from origin to consumption.
Which logistics function involves the planning and control of the movement of goods?
Transportation management.
What term describes the process of managing inventory levels to meet customer demand without
excess?
Inventory control.
Which strategy involves sourcing materials from multiple suppliers to reduce risk?
Diversification of suppliers.
What does the term "lead time" refer to in logistics?
The time taken from placing an order to receiving it.
In supply chain management, what is the role of a third-party logistics provider (3PL)?
To handle logistics operations on behalf of a business.
What is the difference between inbound and outbound logistics?
1
, Inbound logistics refers to the movement of materials into a business, while outbound
logistics involves the distribution of finished goods to customers.
Which model is commonly used to visualize the flow of products, information, and finances in a
supply chain?
The SCOR model (Supply Chain Operations Reference).
What is the significance of cross-docking in logistics?
It reduces storage costs by transferring goods directly from inbound to outbound transport.
Which technology is increasingly used in logistics to enhance tracking and inventory
management?
RFID (Radio Frequency Identification).
What does the term "reverse logistics" refer to?
The process of moving goods from their final destination back to the manufacturer for
returns, recycling, or disposal.
Which inventory management technique uses demand forecasting to determine optimal stock
levels?
Just-in-time (JIT) inventory.
What is the purpose of a logistics network design?
2
, To optimize the flow of goods and minimize costs across the supply chain.
In logistics, what is the concept of "total cost of ownership" (TCO)?
A comprehensive assessment of all costs associated with the acquisition and use of a product
or service.
What is the primary advantage of using automated warehousing systems?
Increased efficiency and accuracy in inventory handling.
Which regulatory agency oversees transportation safety in the United States?
The Federal Motor Carrier Safety Administration (FMCSA).
What is the primary purpose of demand forecasting in logistics?
To predict future customer demand to ensure adequate supply.
Which approach focuses on minimizing waste and maximizing value in logistics operations?
Lean logistics.
What is the role of procurement in the logistics process?
To source and purchase goods and services needed for production and operation.
What is a key performance indicator (KPI) in logistics management?
3
, A measurable value that demonstrates how effectively a company is achieving key business
objectives.
Which logistics strategy emphasizes collaboration with suppliers and customers?
Supply chain collaboration.
What is the purpose of a logistics audit?
To evaluate and improve the efficiency and effectiveness of logistics operations.
Which term refers to the integration of logistics and information technology?
Logistics information systems (LIS).
What is the main objective of fleet management in logistics?
To optimize the operation and maintenance of a fleet of vehicles.
What does the term "warehouse management system" (WMS) refer to?
A software application that helps manage warehouse operations efficiently.
Which type of transportation is most suitable for perishable goods?
Air freight.
What is the main benefit of using third-party logistics (3PL) providers?
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StellarGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.96. You're not tied to anything after your purchase.
