LOGISTICS MANAGEMENT 344 QUESTIONS AND ANSWERS A+ GRADED .Buy Quality Materials!
Logistics management is the part of ___ _____ management that plans, implements, and controls the efficient, effective forward and reverses flow and storage of goods, services and related information between the poi...
LOGISTICS MANAGEMENT 344 QUESTIONS AND ANSWERS A+
GRADED .Buy Quality Materials!
Logistics management is the part of ___ _____ management that plans,
implements, and controls the efficient, effective forward and reverses 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
Logistics is about 7 things:
1) right _____
2) right _____
3) right _____
4) right ____
5) right _____
6) right _____
7) right _____
product, customer, time, condition, quantity, place, cost
Logistics is responsible for the _____, _____, and the coordination of goods in
the supply chain.
movement, storage
Utility is what is used to describe perceived ____. Logistic is able to influence all
types of utility:
1) ____ utility
2) ____ utility
3) _____ utility
4) ____ utility
5) _____ utility
value, possession, form, time, place, quantity
____ utility is created by marketing an item in a way that makes you want to
possess it.
possession
____ utility is acquiring inputs and transforming them into products or services of
greater customer value.
form
____ Utility occurs when a product arrives when it is needed. In ____-___-____
manufacturing, parts and components are carefully staged with precise delivery
times to arrive just when they are needed for assembly or sale.
time, just-in-time
Logistics creates value through three things:
1) ____
2) _____
3) _____
movement, storage, processing
One way logistics is able to create value is through _____. This is primarily
concerned with transportation modes.
, movement
One way logistics is able to create value is through _____. This deals with
balancing inventory levels, locations, and choice of transport mode to serve your
customers quickly.
storage
One way logistics is able to create value is through _____. This deals with the ___
of information and the ____ of shipments during movement and storage. Visibility
allows you to always know ____ your goods are as they move toward you.
processing, flow, visibility, where
Supply chain management encompasses the ____ and ____ of all activities
involved in sourcing and procurement, conversion, and all logistics management
activities.
planning, management
The supply chain begins with the customers identification of a ___ and all the
value-adding activities that follow. _____ is the coordination mechanism that
brings this all together.
need, logistics
Value can only be assessed from the eyes of a ____.
customer
_____ creates possession utility.
marketing
____ carrier transportation is the biggest single expense category
motor
____ practices include eliminating all processes, materials, and steps that do not
add value.
lean
Lean practices include eliminating all processes, materials, and steps that do not
add ___.
value
The amount of money the US spends on logistics has ____ over time.
increased
_____ is the largest category of spending in US logistics today.
trucking
In the 1980's, inventory ____ _____ was the largest category of spending.
carrying cost
More developed economics tend to spend ____ on logistics due to more efficient
systems.
less
The five main types of logistics to know include:
1) ___ logistics
2) ____ logistics
3) _____ logistics
4) ____ logistics
5) _____ logistics
event, passenger, military, service, humanitarian
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