BUSML 4380 - Midterm Exam Actual Questions With Correct Detailed Answers.
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Course
SCM 4380
Institution
SCM 4380
landed price - correct answer cost of the product + cost of the transportation of the product to end customer
materials management - correct answer
last mile logistics - correct answer ...
landed price - correct answer cost of the product + cost of the transportation of the
product to end customer
materials management - correct answer
last mile logistics - correct answer from retailer to the end customer
physical distribution - correct answer
inbound logistics - correct answer (aka material management) activities before
product arrives at the factory
outbound logistics - correct answer (aka physical distribution) activities from factory
to end customer
total cost approach used for - correct answer used to solve for EOQ / used to lower
logistics costs
economic order quantity - correct answer a calculation companies perform that
represents their ideal order size
six-sigma - correct answer we want to control defects. 6 deviations away. the defect
rate should be within 6 standard deviations of the average
3 types of information flow - correct answer forward, availability, backward
central theme of logistics - correct answer purchasing
, reverse logistics - correct answer return processed backwards through the logistics
process; from customers back to sellers or manufacturers
bullwhip effect - correct answer a small error in assessing consumer demand has
been amplified through a supply chain / small fluctuations in demand at the retail level can cause
progressively larger fluctuations
master product schedule - correct answer a centralized document telling you what
you need to produce, how much you need to produce, and when you need to produce it.
logistics management - correct answer Logistics management is that part of supply
chain management that plans, implements, and controls the efficient, effective forward and reverse flow
and storage of goods, services and related information between the point of origin and the point of
consumption in order to meet customers' requirements.
supply chain management vs logistics - correct answer supply chain is more broad
than logistics; it includes information technology and marketing as well as all of logistics
materials management and physical distribution became a thing in what year? - correct answer
1980s
what year did logistics become a thing - correct answer 1990s
what year did supply chain management become a thing - correct answer 2000s
Logistics Management Activities - correct answer subset of supply chain that deals
with physical flows of product and related service includes such activities as transportation
management, warehousing, materials handling, inventory management, and order fulfillment (MANAGE
ACTIVITIES)
supply chain management activities - correct answer involves the coordination of
suppliers, manufacturers, distributors, and retailers to ensure that products and services are available to
the final consumer in a timely and cost effective fashion (MANAGE RELATIONSHIPS)
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