MKT 423 Supply Chain Management WKU Exam 1 (chapters 1-3) Questions And Answers Complete Study Solutions

12 key logistics activities - transportation, storage, industrial packaging, materials handling, inventory control, order fulfillment, demand forecasting, production planning and scheduling, procurement, customer service, plant and warehouse site location, others 15-20% of retail customers account for how much of sales? - 70-80% 2 major studies that transformed supply chain - NEED DETAILS - 1) grocery manufacturers association 2) supply chain council 4 P's of Marketing - Product, Price, Place, Promotion 5 Major External Forces - 1. Globalization 2. Technology 3. Organizational Consolidation 4. Empowered Consumer 5. Government Policy & Regulation sub-point: energy & sustainability absolute advantage - lower cost and/or access to items not available locally accounting integrated with logistics - cost information for analysis of alternatives, supply chain tradeoffs and performance measurements areas included in logistics - packaging, warehouse/DC management, parts and service support, plant/warehouse site selection, production schedulingareas of micro dimension of logistics - 1) logistics interface with other functional areas 2) factors affecting cost and importance of logistics bilateral FTAs - only between two nations, U.S. is currently in 20 bonus key logistics activites - parts and service support, return goods, salvage and scrap BRIC - Brazil, Russia, India, China bullwhip effect - the demand distortion that travels upstream in the supply chain from the retailer through to the wholesaler and manufacturer due to the variance of orders business logistics - the part of the supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, service, and related information from point of use or consumption in order to meet customer requirements