LSCM Study Guide Exam 1 2024 with Complete Solutions

LSCM Study Guide Exam 1 2024 with Complete Solutions Exponential smoothing can use constants higher than 1, but not more than 5, and is one of the most commonly used techniques. - ANSWERSTrue Customer service is of equal importance to both logistics and marketing. - ANSWERSTrue Supply and demand has become less volatile as managers become more adept at controlling the elements. - ANSWERSFALSE Successful supply chain management is based upon the integration and management of three types of "flows" or basic processes. Which is not a "flow"? a. product b. time c. cash d. information - ANSWERSB. TIME Phantom demand is created by over-ordering during peak demand. - ANSWERSTrue Firms today are beginning to use techniques such as activity-based costing to more accurately allocate costs to customers. It's based on the specific costs of servicing a customer's orders relative to how, how much, what, and when a customer orders. - ANSWERSTrue Define least cost analysis - ANSWERS Define Link node analysis - ANSWERSThe transportation method a company uses to connect nodes (plants, warehouses) in a logistics system