SCMN 3710 Exam 1 Questions with Detailed Verified Answers

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SCMN 3710 Exam 1 Questions with
Detailed Verified Answers
Question: SQ: The three fundamental forms of utility under capitalist
economic theory are:
Answer: Possession, Form, and Time/Space


Question:
The "Infrastructure" zone on the TC/CSL tradeoff curve is characterized by
what?
Answer: fixed costs rising more rapidly than output (service)


Question:
According to prediction, __________, __________ and _________ will all house
so called Megacitites, whereas _________ will not have any cities of this size.
Answer: Asia, Latin America, and North America; Europe


Question:
Which of the following is NOT one of the the three main macroeconomic
forces driving the explosive growth in international trade since 1944:
Answer: time and place utility


3 main: cheap/plentiful transportation, liberalization of trade rules/reduction
of tariffs, & cheap/plentiful information


Question:
A critical outcome of the supply chain is to deliver what?

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Answer: the right product to the right place


Question:
The three broad requirements for "market conditions" to exist in general
include buyer and seller must be aware of each other, ______ , and _____ .
Answer: legal system of contract enforcement, means of exchange (currency)


Question:
When a specific point in time, or level of production, is chosen and costs are
developed for the various logistics cost centers, it is called what?
Answer: short run analysis


Question:
These are designated by the U.S. secretary of the treasury for the purpose of
storing, repacking, sorting or cleaning imported merchandise entered for
warehousing without paying import duties while the goods are in storage.
Answer: bonded warehouses


Question:
Many organizations are working more closely with what?
Answer: customers, suppliers, & various types of logistics suppliers


Question:
Full collaboration is the dynamic combination of what?
Answer: both vertical and horizontal collaboration


Question:

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A third-party logistics firm may be defined as what?
Answer: an external supplier that performs or manages all or part of a
company's logistics functions


Question:
SQ: Scorecard and key performance indicators (KPIs) refer to what?
Answer: metrics to manage logistics operations


Question:
An important sustainability issue that has received much more security in
recent years is the:
Answer: reduction in packaging waste by using alternative materials


Question:
The essence of demand management is to estimate and manage ___________
and use this information to make operating decisions.
Answer: customer demand


Question:
SQ: An inbound-to-operations logistics system is also referred to as what?
Answer: physical supply


Question:
One type of demand fluctuation is caused by random variation. What is
random variation?
Answer: a development that cannot normally be anticipated

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Question:
SQ: Traditional customer profitability analyses would start with ______ less
returns and allowances (net sales) and subtract the cost of goods sold.
Answer: gross sales


Question:
While interest has traditionally focused more on the overall length of the OTC
cycle, recent attention has been centered on what?
Answer: variability or consistency of this process


Question:
Applying Internet technology to the order management process has allowed
organizations to not only take time out of the process but also to what?
Answer: increase the velocity of cash back to the selling organization


Question:
SQ: Most retailers are essentially supply chain companies since when?
Answer: they buy products produced by others


Question:
It can be argued that this is the second language of logistics and supply chain
management.
Answer: finance


Question:
SQ: Logistics is the process of anticipating customer needs and wants;
acquiring the capital, materials, people, technologies, and information