LSCM 4360 EXAM QUESTIONS WITH VERIFIED SOLUTIONS LATEST UPDATE 2026

LSCM 4360 EXAM QUESTIONS WITH VERIFIED SOLUTIONS LATEST UPDATE 2026 The total value of international trade (2012) in services and merchandise is about - Answers $23 TRILLION international trade is still mostly concentrated among the developed countries of the Northern Hemisphere. Which country is the largest IMPORTER of the world - Answers United States The common currency of most of the countries in the European Union is called - Answers the Euro Which of the following entities was created at the Bretton Woods Conference of 1944? - Answers International Monetary Fund On occasion, a firm will respond to a competitor's move by retaliating. For example, Linde Gas entered the French market when Air Liquide decided to enter the U.S. market, such a move is considered a - Answers competition driver the Heckscher-Ohlin Theory holds that countries that countries that have an abundance of certain resources enjoy an absolute or comparative advantage over other countries. Which of the following is NOT one of the factors that Heckscher and Ohlin consider scarce? - Answers Education According to the International product life cycle theory, the country most likely to manufacture a product that has been recently developed, and is in its first commercialization year, is... - Answers The country of innovation only The international environment presents challenges for the international logistician. Which aspect of the international business environment is most likely to create frustrations? - Answers Cultural differences Information on foreign countries, including their economic environment, their political environment and their geography, can be easily found in several publications. Which is not one of the organizations that publishes background info on countries - Answers The United Nations UNICEF A firm can respond to one of its competitors' introduction of a lower-priced product by starting to produce its own lower cost product abroad and importing it. Such a strategy is called - Answers Outsourcing Until the end of the 20th century, international trade was mostly concentrated among the developed countries of the Northern Hemisphere. Which country was the largest exporter of the world in 2012 - Answers China an international logistician cannot possibly learn all the cultural subtleties of a particular country; however in order to avoid frustrations and difficulties it would be advisable that he study - Answers Intercultural communication Which one was NOT on of the characteristics of the "early days" of logistics - Answers An emphasis on customer satisfaction Who was the person who popularized the idea of sea-going containers that could be loaded directly onto a ship, truck, or railroad car? - Answers Malcom McLean In the 1980s, companies started manage their inventories much more closely than they had in the 1960s and 1970s. this was due to an increase in - Answers interest rates Based on JIT strategy it is not unusual for companies shipping to large manufacturers and retail chains to be penalized financially for not - Answers Delivering the goods on the day and at the time promised It is generally accepted that - Answers supple chain management encompasses activities that are broader than those of logistics managment The definition of "international supply chain management" is the same as the definition of "supply chain management" except that it makes explicit the fact that SCM - Answers Is global, is international, includes international activities ALL OF THE ABOVE Which of the following is NOT among the challenges of international logistics? - Answers NONE OF THE ABOVE Which of the following group of countries is more likely to lag in terms of green practices, according to the IBM study mentioned in the text? - Answers North America Companies increasingly are designing products so that they can gain a competitive advantage through reverse logistics. Returned products are - Answers none of the above Which of the following is an emerging element of international logistics , according to the author, although it is fully part of domestic logistics, according to the CSCMP - Answers Reverse logistics The increased usage of air transporter international trade has had which consequence? - Answers increased probability of a company being selected as a supplier, by reducing delivery times German corporation is involved in the Grune Punkt program and recycles its final customer packaging after the consumer has used the product. How are these types of activities called? - Answers Reverse logisitcs Another name for sea-going containers is - Answers boxes DRP is a system that allows manufactures, wholesalers, and retailers of consumer products to manage their inventory "just in time" DPR works as a - Answers "pull system" the individuals who are handling goods in the ports, loading and unloading merchandise are called - Answers Stevedores of the following, the best definition of logistics infrastructure would be that it consists of - Answers all of the elements in place to facilitate transportation, communication and business exchanges because some ports are becoming increasingly limited in their ability to handle ever larger ships, it is possible that - Answers large ships will go to "hub" ports where "feeder" ships will traverse to and from the smaller ports The busiest cargo airport in the world is - Answers Hong Kong Chek Lap Kok Factors contributing to the rise of U.S. freight railroads since 1980 are - Answers road congestion, concerns about pollution and noise, and development of the multi-modal container In the European Union, the goal for mail delivery sent to a national address is - Answers D+1 there are sometimes problems with electrical supply in - Answers All of the Above Regarding water availability in the infrastructure - Answers many cities have old leaky pipes As ships move through the Panama Canal, the locks they traverse use an inordinate amount of fresh water, including water from the reserve at - Answers None of the above As a defense measure to keep invading military troops from using their railroads, Spain and Russia - Answers developed widths between the rains different from those as the rest of Europe Although there is no equivalent term in English, the French term outrages d'art has to do with - Answers civil engineering structures Post-Panamax ships have resulted in - Answers cranes being unable to reach across post-Panamax ships among characteristics of the Saint Lawrence Seaway is - Answers it links the Great Lakes to the Saint Lawrence River an the Atlantic Ocean The TGV trains connecting London and Parid - Answers compete with airline service Warehouse infrastructure of a country may determine - Answers how goods are packaged In countries with poor traditional telephone services, communications infrastructure has rapidly been developed through - Answers cell phones Unique, powerful Japanese trading companies are called - Answers sogo shosha an export management company earns its revenue through - Answers sales commission because agents tend to be individuals or very small firms , governments in some countries put them under - Answers labor law an intermediary that purchases goods in the exporting country and resells them to a customer in a foreign country is called - Answers none of the above usually a distributor is located - Answers in the importing country