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LOGISTICS MANAGEMENT FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS
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LOGISTICS MANAGEMENT FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS
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LOGISTICS MANAGEMENT FINAL EXAMQUESTIONS WITH COMPLETE
SOLUTIONS
Definition nnof nnLogistics nn- nnAnswerThat nnpart nnof nnsupply nnchain nnmanagement
nnthat nnplans, nnimplements nnand nncontrols nnthe nnefficient, nneffective nnforward nnand
nnreverse nnflow nnand nnstorage nnof nngoods, nnservices nnand nnrelated nninformations
nnbetween nnthe nnpoint nnof nnorigin nnand nnthe nnpoint nnof nnconsumption nnin nnorder nnto
nnmeet nncustomers' nnrequirements.
Seven nnRights nnof nnLogistics nn- nnAnswer-Product
-Customer
-Time
-Place
-Condition
-Quantity
-Cost
(if nnall nnof nnthese nnare nnmet nnit's nncalled nnthe nnPerfect nnOrder)
Five nnutilities nnand nnhow nnlogistics nninfluences nnthem. nn- nnAnswero nnUtility:
nnperceived nnvalue
o nnPossession: nncreating nndesire
o nnForm: nnrepackaging, nnrefurbishing
o nnTime: nnwhen nnneeded
o nnPlace: nnwhere nnexactly nnneeded
o nnQuantity: nnright nnamount-breakbulk nnand nnassort
How nndoes nnlogistics nncreate nnvalue? nn- nnAnswerthrough nnmovement, nnstorage,
nnand nnprocessing
CSCMP nndefinition nnof nnsupply nnchain nnmanagement nn- nnAnswerEncompasses nnthe
nnplanning nnand nnmanagement nnof nnall nnactivities nninvolved nnin nnsourcing nnand
nnprocurement, nnconversion, nnand nnall nnlogistics nnmanagement nnactivities.
nnImportantly, nnit nnalso nnincludes nncoordination nnand nncollaboration nnwith nnchannel
nnpartners, nnwhich nncan nnbe nnsuppliers, nnintermediaries, nnthird nnparty nnservice
nnproviders, nnand nncustomers. nnIn nnessence, nnsupply nnchain nnmanagement
nnintegrates nnsupply nnand nndemand nnmanagement nnwithin nnand nnacross nncompanies.
, total nncost nnconcept nn- nnAnswerView nnthe nnsum nnof nnlogistics nnoperations nnas nna
nnsystem nnand nnseek nnto nnminimize nnthe nntotal nncost nnof nnthe nnsystem nnrather nnthan
nnthe nnindividual nnfunctions
Logistics nncost nntradeoffs nn- nnAnswerIncreasing nnthe nnnumber nnof nnwarehouses
nnincreases nninventory nncost nnbut nndecreases nntransportation nncosts nnand nn(often)
nndecreases nnthe nncost nnof nnlost nnsales
Using nnfaster nnmodes nnof nntransportation nndecreases nnthe nncost nnof nnlost nnsales
Lot nnquantity nncosts nnand nninventory nncarrying nncosts nnare nninversely nnrelated
Investments nnin nninformation nntechnology nnshould nndecrease nnthe nncost nnof nnlost
nnsales
Importance nnof nnexcellent nnlogistics nncustomer nnservice nn- nnAnswer1. nnexisting
nncustomers nnare nnoften nnconsidered nn"cheaper" nnto nnsell nnto
2. nnexisting nncustomers nnare nnmore nnloyal
3. nnexisting nncustomers nnoften nnbuy nnmore
4. nnexisting nncustomers nnare nna nngood nnsource nnfor nnreferrals nn
5. nnlifetime nnvalue nnof nna nncustomer
Deliverable nnof nnOrder nnFulfillment nn- nnAnswero nnProduct nnavailability nnis nnthe nnmost
nnbasic nnoutput nnof nnan nnorder nnfulfillment nnsystem
o nnAvailability nncosts nnmoney
♣ nnAnalyze nntradeoffs
o nnKey nnmeasures
♣ nnStock-out nnfrequency
♣ nnFill nnRate
♣ nnOrders nnshipped nncomplete
Methods nnfor nnestablishing nna nncustomer nnservice nnstrategy nn- nnAnswer•
nnEstablishing nnan nnAppropriate nnlogistics nncustomer nnservice nnstrategy
o nnDetermine nnchannel nnservice nnlevels nnbased nnon nnknowledge nnof nnconsumer
nnreactions nnto nnstock-outs
o nnExamine nncost/revenue nntrade-offs
o nnUse nnABC nnanalysis nnfor nncustomers nnand nnproducts
o nnConduct nna nncustomer nnservice nnaudit
The nnCost nnof nnStock-Outs nn- nnAnswerback nnorders, nnlost nnsales, nnlost nncustomers
Definition nnof nna nnLogistics nnSystem nn- nnAnswernetwork nnof nnorganizations/activities,
nnengaged nnin nnmanagement nnof nnmovement nnof nnstorage nnof nnproducts, nnservice,
nnand nninformation
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