SCM 303 Smartbook Final Exam 302
questions and complete solutions.
SCM 303 Smartbook Final Exam 302
questions and complete solutions.
Which competency do firms use and understand to help achieve competitive advantage? - ANSWER
logistical
Logistics that is managed in order to achieve customer satisfaction while avoiding budget fees will create
which of the following? - ANSWER Value
Logistical performance is measured by inventory availability, operational _______, and service reliability.
- ANSWER performance
Many long-standing practices of accounting continue to serve as a _____________ to fully implementing
total cost logistical solutions. - ANSWER barrier
The typical enterprise seeks to develop and implement an overall logistical competency that satisfies
__________ expectations at a realistic total cost expenditure. - ANSWER customer
Logistics adds _________ to the supply chain process when inventory is strategically position to achieve
sales. - ANSWER value
What will have limit value when position at the right place and the right location? - ANSWER inventory
Logistics should be managed as an integrated effort to achieve customer satisfaction at the lowest total
________ - ANSWER cost
Besides forecasting, what is the other customer requirement of logistical work driven by information? -
ANSWER communication
,SCM 303 Smartbook Final Exam 302
questions and complete solutions.
The level of service a firm provides all established customers is known as what type of service? -
ANSWER Logistics
The objective of an inventory strategy is to achieve fill rates with the minimum inventory commitment. -
ANSWER True
Understanding total cost opened the door to examining how functional costs interrelate and impact
each other. - ANSWER True
What is one reason why transportation receives considerable managerial attention. - ANSWER Cost
True or false: The key to achieving logistical leadership is not to master the art of matching operating
competency or commitment to key customer expectations and requirements. - ANSWER False
Order processing, inventory, and transportation creates a system solution for ______ logistics. -
ANSWER integrated
Logistics exist to move and position inventory to achieve desired time, place, and _______ benefits at
the lowest total cost. - ANSWER possession
________ network design is a primary responsibility of logistical management. - ANSWER Facility
The relative importance of each facet of operational information is directly related to the degree to
which a supply chain is positioned to function on a _________ or _________ basis. - ANSWER
responsive, anticipatory
Firms must achieve the following between the customers and suppliers to be fully effective in today's
competitive environment. - ANSWER Integration
Excessive inventory may compensate for ________ in the design of the logistics system but will
ultimately result in a higher than necessary total system cost. - ANSWER deficiencies
, SCM 303 Smartbook Final Exam 302
questions and complete solutions.
Which level of management is concerned with the movement and storage of inventory? - ANSWER
Operational
Logistical operations are _______ when a manufactured product is delivered to the customer. - ANSWER
finalized
True or false: Transportation is a subset of logistics that geographically moves and positions inventory. -
ANSWER True
Dealing with the varied aspects of serving customers is typically called customer __________ - ANSWER
accommodation
What is the term for a firm that acquires services of a warehouse specialist? - ANSWER 3PL
What is under the control of the manufacturing enterprise needed to support movement requirements?
- ANSWER Scheduling
What does the facility network create from which logistical operations are performed? - ANSWER
Structure
Purchasing and arranging inbound movement of materials, parts and/or finished inventory from
suppliers into manufacturing or assembly plants, warehouse, or retail stores is known as _______? -
ANSWER procurement
The logistical process is viewed in terms of two interrelated flows: inventory and _______ - ANSWER
information
To avoid the misdirection of the logistical system,what type of information must be present? - ANSWER
Accurate
questions and complete solutions.
SCM 303 Smartbook Final Exam 302
questions and complete solutions.
Which competency do firms use and understand to help achieve competitive advantage? - ANSWER
logistical
Logistics that is managed in order to achieve customer satisfaction while avoiding budget fees will create
which of the following? - ANSWER Value
Logistical performance is measured by inventory availability, operational _______, and service reliability.
- ANSWER performance
Many long-standing practices of accounting continue to serve as a _____________ to fully implementing
total cost logistical solutions. - ANSWER barrier
The typical enterprise seeks to develop and implement an overall logistical competency that satisfies
__________ expectations at a realistic total cost expenditure. - ANSWER customer
Logistics adds _________ to the supply chain process when inventory is strategically position to achieve
sales. - ANSWER value
What will have limit value when position at the right place and the right location? - ANSWER inventory
Logistics should be managed as an integrated effort to achieve customer satisfaction at the lowest total
________ - ANSWER cost
Besides forecasting, what is the other customer requirement of logistical work driven by information? -
ANSWER communication
,SCM 303 Smartbook Final Exam 302
questions and complete solutions.
The level of service a firm provides all established customers is known as what type of service? -
ANSWER Logistics
The objective of an inventory strategy is to achieve fill rates with the minimum inventory commitment. -
ANSWER True
Understanding total cost opened the door to examining how functional costs interrelate and impact
each other. - ANSWER True
What is one reason why transportation receives considerable managerial attention. - ANSWER Cost
True or false: The key to achieving logistical leadership is not to master the art of matching operating
competency or commitment to key customer expectations and requirements. - ANSWER False
Order processing, inventory, and transportation creates a system solution for ______ logistics. -
ANSWER integrated
Logistics exist to move and position inventory to achieve desired time, place, and _______ benefits at
the lowest total cost. - ANSWER possession
________ network design is a primary responsibility of logistical management. - ANSWER Facility
The relative importance of each facet of operational information is directly related to the degree to
which a supply chain is positioned to function on a _________ or _________ basis. - ANSWER
responsive, anticipatory
Firms must achieve the following between the customers and suppliers to be fully effective in today's
competitive environment. - ANSWER Integration
Excessive inventory may compensate for ________ in the design of the logistics system but will
ultimately result in a higher than necessary total system cost. - ANSWER deficiencies
, SCM 303 Smartbook Final Exam 302
questions and complete solutions.
Which level of management is concerned with the movement and storage of inventory? - ANSWER
Operational
Logistical operations are _______ when a manufactured product is delivered to the customer. - ANSWER
finalized
True or false: Transportation is a subset of logistics that geographically moves and positions inventory. -
ANSWER True
Dealing with the varied aspects of serving customers is typically called customer __________ - ANSWER
accommodation
What is the term for a firm that acquires services of a warehouse specialist? - ANSWER 3PL
What is under the control of the manufacturing enterprise needed to support movement requirements?
- ANSWER Scheduling
What does the facility network create from which logistical operations are performed? - ANSWER
Structure
Purchasing and arranging inbound movement of materials, parts and/or finished inventory from
suppliers into manufacturing or assembly plants, warehouse, or retail stores is known as _______? -
ANSWER procurement
The logistical process is viewed in terms of two interrelated flows: inventory and _______ - ANSWER
information
To avoid the misdirection of the logistical system,what type of information must be present? - ANSWER
Accurate
