idis 343 exam 1 Questions And Answers With Verified Solutions

what 3 things need to be right in supply chain management definition? - Answer-quantities, locations, time primary logistics activities - Answer-CS goals, inventory management, transportation, location % of GDP that is logistics costs - Answer-10.5-12 why are customers more demanding of the supply chain? - Answer-they want quick response & mass customization 4 ways logistics adds value - Answer-form, ownership, time, place 2 largest logistics costs - Answer-transportation & inventory most frequent logistics tradeoffs - Answer-transportation & inventory internal supply chain - Answer-production-logistics interface, logistics & marketing-logistics interface production-logistics interface activities - Answer-product scheduling, plant location & purchasing marketing-logistics interface activities - Answer-CS standards, pricing, packaging & retail location make-to-order - Answer-manufactures end product when order is placed make-to-stock - Answer-forecasts demand to determine stock produced logistics strategy objectives - Answer-minimize cost, minimize investment & maximize CSlevels of logistical planning - Answer-strategic, tactical, operational 4 problem areas of supply chain planning - Answer-CS levels, facility location, inventory decisions, transportation decisions return on logistics assets equation - Answer-(revenue-costs)/logistics assets 6 concepts for logistics strategy formulation - Answer-total cost concept, differentiated distribution, mixed strategy, postponement, shipment consolidation, product standardization 7 supply chain management principles - Answer-segment, market demand signals, supply-chain-wide technology strategy, source strategically, channel-spanning performance measures, customize logistics network, differentiate products supply-to-stock - Answer-efficient supply chain supply-to-order - Answer-responsive supply chain functional products use- - Answer-efficient supply chain innovative products use- - Answer-responsive supply chain product life-cycle curve elements - Answer-introduction, growth, maturity, decline as weight-bulk ratio _________, transportation & storage costs _________ - Answer-increases; decrease as value-weight ratio increases, storage costs _______ and transportation costs ________ - Answerincrease; decrease6 values of product packaging - Answer-facilitate storage & handling & product use, promote better utilization of transport, protection, promote sales, change weight-to-bulk ratio, provide reuse value for customer most important value of product packaging - Answer-protection customer service elements - Answer-price, product quality & service CS is important part of marketing mix of- - Answer-price, product, promotion, place FOB pricing - Answer-free on board; who has ownership at what point importance of logistics CS - Answer-increase sales, increase market share, increase profit contribution & growth service differences have been shown to account for _-_% variation in supplier sales - Answer-5-6 _ times more difficult to develop a new customer than to keep an old one - Answer-6 most important CS elements - Answer-on-time delivery, order fill rate, product condition, accurate documentation most common CS complaint - Answer-late deliveries most common penalty for CS failure - Answer-reduced volume of business order cycle time - Answer-time elapsed between when a customer places an order and when the order is received by the customer 5 order cycle elements - Answer-transport time, order transmittal time, order processing & assembly line, production time & stock availabilityorder cycle time is expressed as _______ __________ _____________ - Answer-bimodal frequency distribution 3 constraints on order cycle time - Answer-order processing priorities, order condition standards & order constraints dominant CS elements are ___________ in nature - Answer-logistical most important service element - Answer-speed of delivery