1 LSCM Final Exam/ Actual Exam Questions with Correct Verified Answers/ Rated A+
The challenge to develop and sustain an efficient and effective supply chain(s) requires organizations to address a number of issues. Which is NOT included? - ANS - inventory carrying costs
A critical outcome of the supply chain is to deliver - ANS - the right product to the right place.
What technology has helped make the physical inventory-taking process more efficient and effective? - ANS - scanning of bar-coded RFID tags
It can be argued that _ is the second language of logistics and supply chain management. - ANS - finance
The product's dollar value typically affects the cost of logistics activities. Which is NOT one of these costs? - ANS - promotion costs
What are fixed established spatial points where goods stop for storage or processing? - ANS - nodes
A(n) _______ relationship generally exists between the cost of lost sales and inventory cost. - ANS – inverse
While interest has traditionally focused more on the overall length of the OTC cycle, recent attention has been centered on - ANS - variability or consistency within this process.
Those customers who are in the "Danger Zone" segment are - ANS - the least profitable.
Traditional customer profitability analyses would start with ______ less returns and allowances (net sales) and subtracts the cost of goods sold. - ANS - gross sales 1 / 2
2
Assuming the cost to place an order is constant, all other things remaining the same, INCREASING the
order quantity (Q*) causes total ANNUAL ordering costs to: - ANS - Decrease.
Using Wilson's EOQ formula, what will happen to the average inventory level (Q*/2) if unit cost is INCREASED by 4.1% and annual demand is DECREASED by 4.1% at the same time? - ANS - (Q*/2) will decrease.
What is often the largest component of logistics costs? - ANS - transportation costs
Which of the following is the "marketing mix"? - ANS - distribution (product), price, product, promotion
Logisticians seek cost trade-offs. A "positive" cost trade-off is a situation where: - ANS - Some costs increase, some decrease, and the net effect is that total costs decrease.
Each of the following functional areas would typically be included within logistics: - ANS - Customer service, order processing, transportation, warehousing and storage
Which of the answers below is an example of the creation of form utility by a LOGISTICS ACTIVITY? - ANS
- the breaking bulk and repackaging at a distribution center
An outbound-to-customer logistics system is also referred to as - ANS - physical distribution.
Oversupply is created by: - ANS - phantom demand
The weighted moving average method assigns - ANS - a weight to each previous period.
Many industry initiatives have attempted to create efficiency and effectiveness through the integration of supply chain activities and processes. Among the various initiatives is/are - ANS - quick response (QR) vendor-managed inventory (VMI) efficient consumer response (ECR)
- / 2