Exam 2, SCM Exam #4, MGMT 200 - Chapter 8, ch 9 logistics, Chapter 10, CHAPTER 9
Which of the following may be classified as contingent liabilities? a. Future litigation losses b. Deferred revenues c. Deposits from customers d. Frequent flier program awards e. Product warranties
a, d, e
What are the two classifications for liabilities? a. Long-term b. Operating c. Recurring d. Investing e. Current
a, e
A(n) ________ payable is a short-term liability that occurs when a company purchases goods and does not immediately pay with cash. (Enter only one word.)
accounts
Best warehousing practice is to ______.
allow the fast moving product to move quickly through the warehouse
An interest rate, unless otherwise specified, is typically a(n) ________ rate. (Enter one word per blank)
annual
Amounts that are subtracted from an employee's gross pay are referred to as a. net pay. b. payroll withholdings. c. employee costs. d. payroll taxes.
b
Which of these payroll taxes are paid by the employer and the employee? (Check all that apply.) a. FUTA b. Social Security c. SUTA d. Medicare
b, d
Which of these payroll taxes are paid only by the employer? (Check all that apply.) a. Medicare b. FUTA c. Social Security d. SUTA
b, d
Which of the following are payroll withholdings that are subtracted from gross pay to arrive at take-home pay? a. Employer contribution for social security taxes b. Federal income taxes c. Federal and state unemployment taxes d. Employee contributions to retirement plans e. Health insurance paid by the employee
b, d, e
Deferred revenues and sales tax payable typically are reported as ________ liabilities.
current
The ________ portion of long-term debt is the amount that will be paid within the next year. (Enter only one word.)
current
The more significant the service __ impact upon a customer's business, the greater the priority placed on error free logistical performance
Failure
(True/False) The best approach to developing a distribution warehouse is to locate a vacant building and then design a material handling system that will work in that structure
False
A slot is the location where an over-the-road truck is parked
False
Distribution warehouses that are dedicated to a specific firm are called public warehouses
False
The best approach to developing a distribution warehouse is to locate a vacant building and then design a material handling system that will work in that structure.
False
The modern concept of a distribution center means that products are never placed in storage
False
Value Added Services (VAS) are seldom performed by Integrated Service Providers (ISP)
False
When a company cross-docks products, the products are generally in storage for several days
False
Which of the following is not considered a barrier to achieving process integration?
Financial resources.
Which of the following best describe firms that might use cost based warehousing strategies?
Firms that distribute a large number of commodity items.
Which of the following is NOT a driver of consolidation in the third-party logistics industry?
Manufacturing capability
Which of the following is not a major driver of profitability or competitiveness in supply chain design?
Low cost country sourcing.
Which of the following transportation modes is the best for end-to-end delivery?
Motor
The majority of the laborers for 3PL and 4PL organizations are typically ___.
Non-union
When a firm "spot stocks" inventory they are engaged in
Placing inventory in a local warehouse in anticipation of future need
When a firm "spot stocks" inventory they are engaged in:
Placing inventory in a local warehouse in anticipation of future need
A firm that groups small shipments for delivery to a retail mall is doing ___.
Pooled delivery
A trade-off is best described by which of the following?
The relationship between two variables.
The logistics value proposition is ___.
The unique commitment of a firm to an individual or customer group
When engaged in warehouse picking and a combination of customer order requirements are selected simultaneously the method being employed is called
Wave selection
A loss that is judged to be probable and for which the amount is reasonably estimable should be a. ignored. b. disclosed only in the notes. c. deferred until the related uncertainly is resolved. d. recorded.
d
Deferred revenue is classified as a. a revenue b. an expense c. an asset d. a liability
d
True or false: Your employer is allowed to keep the amounts withheld from your gross pay.
false
The rationale for increasing interest in delivering supply chain solutions is: ______.
firms are using solutions as the basis of competition which involves a combination of products and services
International transportation consolidation and expertise is a service generally provided by ______.
freight forwarder
Additional benefits such as health insurance, retirement benefits, or life insurance that are paid by the employer are called ________ benefits.
fringe
All other factors being held constant, increasing the replenishment order quantity will ______.
increase service level
Aggregate safety stock inventory ______ as the number of distribution centers increase.
increases at a decreasing rate
Which of the following material handling systems offers the most flexibility?
information directed
The primary objective of high performance supply chains is to ______.
meet the customer service requirements of key customers
The mathematical formula for working capital is current assets ______ current liabilities.
minus
Local presence is considered an obsolete paradigm because ______.
of the advent of timely and consistent transportation
Inventory that accommodates elapsed time between inventory availability (manufacturing, growing, or extraction) and consumption is called ______.
supply/demand balancing
Performance cycle uncertainty has the following trait:
the larger the variance to desired goal, the bigger the impact
If you want the consignee to be responsible for goods while they are in-transit you should ship products ___.
to FOB origin
If you want the consignee to be responsible for goods while they are in-transit you should ship products ______.
to FOB origin
A contingent liability is an existing ________ situation that might result in a loss depending on the outcome of a future event.
uncertain
One of the major problems cited regarding the supply chain integration challenge is ______.
visibility of supply chain activities from end-to-end
Sally Company manufactures large kitchen appliances. For the first year of purchase, the company will repair any manufacturing defect free of charge. Sally apparently sells its appliances with a(n) ________. (Enter one word per blank)
warranty
As a general rule, a supply chain member whose logistical competency is highly specialized or unique ______.
will participate in multiple supply chains
Current assets minus current liabilities equals ________ ________.
working capital
Total Cost Logistics Model takes into consideration ___.
All expenditures necessary to perform logistical requirements
Best warehousing practice is to ___.
Allow the fast moving product to move quickly through the warehouse
Warehousing, Materials handling, and Packaging are unique in the sense that they __.
Are an integral part of the other logistics areas
Which type of material handling system system typically has the highest fixed cost and the lowest variable cost?
Automated
Which type of material handling system typically has the highest fixed cost and the lowest variable cost?
Automated.
9-5. "Slotting" a warehouse means: A - Products are positioned for value added services B - Products are assigned a specific warehouse location C - Products are placed in a pick line location D - None of the above.
B - Products are assigned a specific warehouse location**
9-2. A company which has limited experience in warehousing who has a need to establish temporary warehouse facilities in multiple cities would most likely use: A - Private warehouses B - Public warehouses C - Contract Warehouses D - Common Warehouses
B - Public warehouses**
9-2. When a firm uses cross-docking inventory: A - Must be staged for shipping B - Typically moves directly from receiving to shipping C - Always is tagged for shipping D - Is considered short movement freight
B - Typically moves directly from receiving to shipping**
Value Added Services (VAS) are seldom performed by Integrated Service Providers (ISP) (
FALSE
Facility network design is concerned with which of the following?
- How many buildings - The location of the buildings - The ownership structure of the buildings
When a company cross-docks products, the products are generally in storage for several days
FALSE
Logistics is
- the process that links supply chain participants into integrated operations - the catalyst of activity between different supply chain functional areas such as procurement and warehousing - a critical component to supply chain success - concerned with getting the right product to the right place at the right time, at minimum cost
If the average daily demand is 25 units, average replenishment lead time is 5 days, standard deviation of lead time is 1, and the calculated safety stock is 20 units, the reorder point will be ______.
145 units
In 2016 US business logistics cost represented what portion of Gross Domestic Product (GDP)?
7.5%
One function of a distribution warehouse is consolidation, which means the facility is being used to A - Group small inbound shipments into one large outbound shipmen B - Collect products/packaging materials or disposal C - Hold safety stock inventory D - None of the above:
A - Group small inbound shipments into one large outbound shipment**
9-5. When a firm engages in extended storage they normally are: A - Holding inventory in excess of typical replenishment requirements B - Speculating that inventory cost will decrease C - Engaged in customization D - Performing value added services.
A - Holding inventory in excess of typical replenishment requirements**
The key element of order process is ___.
Achieve accurate information to support logistics performance
The four economic benefits of warehousing are: A - Receiving, shipping, handling, and storage B - Shipping, receiving, assortment, and value added C - Consolidation, sorting, seasonal storage, and reverse logistics D - None of the above benefit combinations
C - Consolidation, sorting, seasonal storage, and reverse logistics**
9-5. The Jones firm decides to assemble specific products in their distribution warehouse to meet customer requests. They are: A - Performing custom distribution B - Performing selective marketing C - Performing value added services D - All of the above.
C - Performing value added services**
The four economic benefits of warehousing are
Consolidation, sorting, seasonal storage, and reverse logistics
Supply chain synchronization attempts to achieve which of the following?
Coordinate multiple firms activities across the supply chain
The three factors fundamental to transportation performance are ___.
Cost, speed, and consistency
9-5. When a firm "spot stocks" inventory they are engaged in: A - Placing inventory in an exact location in the warehouse B - Placing inventory in consignment C - Marking inventory for ease of identification D - Placing inventory in a local warehouse in anticipation of future need
D - Placing inventory in a local warehouse in anticipation of future need**
9-5. A firm that supports an automotive assembly plant by providing just-in time inventory is engaged in: A - Cross Docking B - Order Assembly C - Mixing D - Sequencing
D - Sequencing**
9-5. The use of a Warehouse Management System(WMS) to route fork trucks on-demand is called: A - Simultaneous routing B - Variable routing C - Directed routing D - Task Interleaving
D - Task Interleaving**
9-5. When engaged in warehouse picking and a combination of customer order requirements are selected simultaneously the method being employed is called: A - Combination discrete selection B - Combined selection C - Discrete selection D - Wave selection
D - Wave selection**
A slot is the location where an over-the-road truck is parked
FALSE
Distribution warehouses that are dedicated to a specific firm are called public warehouses
FALSE
The best approach to developing a distribution warehouse is to locate a vacant building and then design a material handling system that will work in that structure.
FALSE
The modern concept of a distribution center means that products are never placed in storage
FALSE
One function of a distribution warehouse is consolidation, which means the facility is being used to
Group small inbound shipments into one large outbound shipment
When a firm engages in extended storage they normally are
Holding inventory in excess of typical replenishment requirements
Since 2007 total US business logistics costs have ___.
Increased dramatically, by more than 10%
Performance cycles contain which of the following?
Inputs and outputs
Logistical operations have two main flows:
Inventory and information
True or false: An employer pays federal unemployment tax as a percentage of an employee's total pay for the year.
false
"Slotting" a warehouse means
Products are assigned a specific warehouse location
"Slotting" a warehouse means:
Products are assigned a specific warehouse location
10-2 A company which has limited experience in warehousing who has a need to establish temporary warehouse facilities in multiple cities would most likely use
Public warehouses
10-4 A firm that supports an automotive assembly plant by providing just-in time inventory is engaged in
Sequencing
Direct logistics operating arrangement accomplish which of the following?
Ship products direct to the consumers destination from one or more locations
The goal of logistics is to
Support procurement, manufacturing, and customer accommodation
Which of the following is the rationale for plastic packaging?
Sustainability, Protection from dropping, Lower transportation cost.
A disadvantage of RFID tags versus UPC codes is that RFID is more expensive
TRUE
Assembly is a primary service expected to be performed by lead suppliers.
TRUE
Cross docking is a form of sorting.
TRUE
Order assembly is important to both manufacturers and retailers.
TRUE
Pallets and slip-sheets basically perform the same functionality in a material handling system.
TRUE
Recycling is a major part of reverse logistics
TRUE
The warehouse functionality of sorting means that products are being assembled in custom assortments to meet the needs of specific orders.
TRUE
Wave selection means that multiple orders are being picked simultaneously
TRUE
When a firm locates a temporary inventory in a specific location it is called Spot Stocking
TRUE
The use of a Warehouse Management System(WMS) to route fork trucks on-demand is called
Task Interleaving
A disadvantage of RFID tags versus UPC codes is that RFID is more expensive
True
Assembly is a primary service expected to be performed by lead suppliers
True
Cross docking is a form of sorting.
True
Order assembly is important to both manufacturers and retailers
True
Pallets and slip-sheets basically perform the same functionality in a material handling system
True
Recycling is a major part of reverse logistics
True
The warehouse functionality of sorting means that products are being assembled in custom assortments to meet the needs of specific orders.
True
Wave selection means that multiple orders are being picked simultaneously
True
When a firm locates a temporary inventory in a specific location it is called Spot Stocking
True
When a firm uses cross docking inventory
Typically moves directly from receiving to shipping
Which of the following is not a benefit of public warehousing?
Typically unionized.
Combined logistics operating arrangements do which of the following?
Use both direct and echelon logistics solutions depending on the specific needs
Which of these concepts is not part of logistical integration objectives?
Using less parcel shipping
Echelon logistics operating arrangements accomplish which of the following?
Utilize warehouses to create inventory assortments and achieve consolidation economies
A probable future sacrifice of economic benefits arising from present obligations of an entity to transfer assets or provide services as a result of past transactions or events is a(n) a. liability. b. expense. c. loss. d. asset.
a
Schmidt Company borrows $10,000 from its bank and signs a 6-month note. Interest, which is due quarterly, is specified in the note as 6%. The 6% interest rate is a(n) a. annual, 12 month rate. b. a 3 month rate. c. 6 month rate.
a
Abbott Corp.'s attorney estimates that the company will ultimately have to pay $400,000 related to current litigation. Abbot's journal entry should include a: a. debit to loss b. credit to contingent liability c. debit to asset d. credit to retained earning e. debit to contingent liability
a, b
Which of the following payroll-related taxes must the employer pay by law? a. Unemployment taxes b. Federal Insurance Contributions Act amounts c. Contributions toward retirement funds d. Union dues
a, b
By law, an employer is required to pay which of the following amounts as payroll taxes? a. Social Security contributions b. Federal unemployment tax c. Health insurance premiums d. Medicare contributions e. Life insurance premiums
a, b, d
Common current liabilities include: a. The current portion of long-term debt b. Deferred revenues c. Notes payable due in two years d. Prepaid insurance e. Sales tax payable
a, b, e
A contingent liability is recorded if which conditions are met? a. The amount of the loss can be reasonably estimated. b. There is a remote chance that a future loss will occur. c. It is probable that a future loss will occur.
a, c
Which of the following are employer payroll costs? a. Federal and state unemployment taxes b. Federal income tax withholding c. Employer portion of Medicare tax d. Employee contributions to retirement savings
a, c
On November 1, 2018, ABC Corp. borrowed $100,000 cash on a 1-year, 6% note payable that requires ABC to pay both principal and interest on October 31, 2019. The journal entry on November 1, 2018 would include which of the following? a. Debit to Cash $100,000 b. Debit to Interest Expense $6,000 c. Credit to Note Payable $106,000 d. Credit to Note Payable $100,000
a, d
Withholding taxes for federal and state income tax are based upon which items? a. Number of exemptions claimed b. Number of employees at the company c. Size of the corporation in total assets d. Amounts earned by employees
a, d
Which of the following are examples of fringe benefits provided by employers to their employees? a. reduced or no-cost company-provided services b. payment for services provided by employee to employer c. FICA matching contributions d. contributions to retirement and other savings accounts e. payment of insurance premiums on employees behalf
a, d, e
Lark Corporation believes it is probable the company will lose a lawsuit for $10,000. The journal entry to record the contingent loss will include a a. credit to lawsuit expense $10,000. b. credit to contingent liability for lawsuit $10,000. c. credit to retained earnings $10,000. d. debit to contingent liability for $10,000.
b
Liabilities are classified as a. operating and investing. b. current and long-term. c. operating and nonoperating. d. revenues and expenses.
b
Payroll withholdings are a. the payments submitted for both the employee and employer to the government for taxes. b. the items subtracted from an employee's gross pay to arrive at take-home pay. c. the employer's portion of taxes paid for social security and Medicare.
b
Rhodes borrowed $5,000 by signing a 5-year note with an interest rate of 8%. On the date the note is signed, Rhodes should a. debit notes payable $5,000. b. credit notes payable $5,000. c. credit notes expense $5,000. d. debit notes receivable $5,000.
b
The flipside of a contingent gain is a contingent a. asset. b. loss. c. reserve.
b
The term referring to a company having a sufficient amount of cash to pay its current debts is a. consistency. b. liquidity. c. security. d. solvency.
b
Which of the following is an important criteria used to determine the reporting of a contingent liability? a. The classification of the related expense or loss b. The likelihood of future payment or loss c. The potential effect on financial statement users d. The effect on key balance sheet ratios
b
Which of the following tends to be the source of the most commonly reported contingent liability? a. lawsuits b. warranties c. natural disasters
b
Lester Corp. sells merchandise to a customer for $1,000. The company also collects state and local sales taxes of 6% and 4%, respectively. At the time of sale, Lester should record the following credit amounts. a. sales revenue of $1,100. b. sales taxes payable of $100. c. sales revenue of $1,000.
b, c
What are the two criteria used to determine whether a contingent liability is reported in the financial statements? a. The percentage of the payment to total income b. The likelihood of payment c. The ability to estimate the amount of payment d. The payment date
b, c
What will be the effect of paying off an accounts payable balance on the current and the acid-test ratios? Assume that both ratios are greater than 1. a. Acid-test ratio will remain unchanged b. Acid-test ratio will increase c. Current ratio will increase d. Current ratio will decrease e. Current ratio will remain unchanged f. Acid-test ratio will decrease
b, c
Payroll withholdings ______. (Select all that apply.) a. increase the amount of cash an employee receives b. are amounts subtracted from employees' gross earnings to determine their net pay c. are voluntary d. decrease the amount of cash an employee receives e. are amounts added to employees' gross earnings to determine their net pay
b, d
A company purchases inventory or supplies and promises to pay within 30 to 45 days. No formal agreement is signed. This transaction is recorded as a(n) a. notes receivable. b. accounts receivable. c. accounts payable. d. notes payable.
c
Issuing a note payable for cash results in a(n) ______. a. increase in liabilities and a decrease in stockholders' equity b. decrease in assets and an increase in liabilities c. increase in assets and an increase in liabilities d. decrease in assets and a decrease liabilities
c
Which of the following is a guarantee that protects a customer from product defects for a specified period of time? a. Contingency b. Sales allowance c. Warranty d. Promissory note
c
Which of the following terms are used to categorize the likelihood of the occurrence of a future loss? a. Uncertain b. Certain c. Reasonably possible d. Remote e. Probable
c, d, e
Which of the following are not required payroll withholdings? a. Federal income tax b. Social Security c. State unemployment tax (SUTA) d. Medicare taxes e. Charitable contributions f. Federal unemployment tax (FUTA)
c, e, f
The feature that distinguishes loss ________ from other liabilities is the uncertain outcome. (Enter one word per blank)
contingencies
A transaction or event in which the outcome is uncertain is referred to as a(n) ________. (Enter one word per blank)
contingency
A(n) ________ liability is an existing uncertain situation that might result in a loss depending on the outcome of a future event.
contingent
Product warranties, effects of environmental problems, and lawsuits are examples of transactions or events that give rise to ________ liabilities.
contingent
A(n) ________ ________ is an existing uncertainty that might result in a gain.
contingent gain
Notes payable is classified as a liability that has which of the following effects? a. Creates revenue on the income statement b. Creates an asset on the balance sheet c. Creates deferred revenue on the income statement d. Creates interest expense on the income statement
d
Poppy Corporation has a current ratio of 2.0 and a quick ratio of 1.6. Poppy purchases additional inventory for cash. Which of the following occurs? a. Working capital decreases. b. The current ratio will decrease. c. The quick ratio will increase. d. The current ratio will remain the same.
d
Taxes collected for taxing authorities are recognized as a. long-term liabilities. b. operating expenses. c. revenue. d. current liabilities. e. prepaid expenses.
d
The portion of a long-term liability that will be paid within the next year is referred to and reported as the: a. current debt b. total current liability c. long-term debt d. current portion of long-term debt
d
The most significant factor in supply chain design is ______.
demand location
When orders are shipped directly to the customer, it is called ______.
drop shipping
Declining transport rates per unit of weight as the weight shipped increases represents ______.
economy of scale
A(n) ________ is a probable future sacrifice of economic benefits arising from present obligations to transfer assets or provide services as a result of past transactions or events. (Enter one word per blank)
liability
Deferred revenue should be classified as a(n) ________ on the balance sheet. (Enter one word per blank)
liability
________ refers to a company's cash position and overall ability to obtain cash in the normal course of business. (Enter one word per blank)
liquidity
The flipside of a contingent gain is a contingent ________.
loss
Public warehouses typically have ______.
low fixed and high variable cost
The Jones firm decides to assemble specific products in their distribution warehouse to meet customer requests. They are ______.
performing value added services
When a firm "spot stocks" inventory they are engaged in ______.
placing inventory in a local warehouse in anticipation of future need
A firm that groups small shipments for delivery to a retail mall is doing ______.
pooled delivery
When a contingent event that may give rise to a future loss is likely to occur, it is said to be ________.
probable
Product damage is a measure of ______.
quality
On-shelf in stock percentage best describes a product availability metric for a ______.
retailer
A firm that supports an automotive assembly plant by providing just-in time inventory is engaged in ______.
sequencing
Which of the following is the rationale for plastic packaging?
- Sustainability - Protection from dropping - Lower transportation cost
Which of the following are the major reasons for supply chain outsourcing?
- To take advantage of operational economies of scale - To provide more flexibility regarding capacity - To allow the firm to outsource non-core activities
Last year, Able Company had sales of $10 million, cost of goods sold of $6 million, gross profit of $4 million and net profit of $1 million. Average inventory at cost was $2 million. Able's inventory turnover rate was ______.
3 times
Which of the following types of service providers is most likely to provide a client firm with the most strategic expertise?
4PL or Logistics integrator
An organization that provides non-asset-based global network, inbound and outbound optimization is generally characterized as ___.
4PL or logistics integrator
Which of the following is an example of supply chain risk?
A change in availability of product due to fire at the supplier.
Which of the following is not an objective of industrial packaging?
Advertising
Which of the following modes of transportation has low fixed and high variable costs?
Air
Which of the following is the rationale for plastic packaging?
All of the choices are correct
Which of the following need special consideration in global supply chain operations?
All of the choices are correct.
Which of the following types of taxes influence supply chain design?
All of the choices are correct.
Which of the following is not a means of reducing direct cost through globalization?
All the above reduce direct costs.
Which strategy requires minimum coordination efforts?
Both no international and multi-domestic are correct.
Increased variability arises from which of the following?
Both shifting political environments and unique documentation requirements are correct.
The four economic benefits of warehousing are:
Consolidation, sorting, seasonal storage, and reverse logistics
Which type of supply chain relationship typically requires the least information sharing among participants?
Contracting.
A performance cycle is related to which of the following inventory elements?
Cycle stock
Which of the following skill characteristics is not necessary for a senior supply chain executive?
Deep knowledge regarding a specific function.
When orders are shipped directly to the customer, it is called ___.
Drop shipping
Declining transport rates per unit of weight as the weight shipped increases represents ___.
Economy of scale
Which of the following is an example of a public interface management security best practice?
Establishes communication strategy for providing information regarding. contamination/security incidents to appropriate government/public agencies.
To facilitate classification of a large variety of different items being shipped on a single invoice a traffic manager may want to consider ___.
FAK (freight-all-kinds) rates
One function of a distribtion warehouse is consolidation, which means the facility is being used to
Group small inbound shipments into one large outbound shipment
Logistics and supply chain outsourcing in North America is a ___ industry.
Growing
Which of the following questions is not a supply chain concern when completing a merger and acquisition of firms with multiple supply chains?
How should the sales forces be integrated?
Which of the following is not a characteristic of a global supply chain?
Increased standardization
Which of the following material handling systems offers the most flexibility?
Information directed
Public warehouses typically have ___.
Low fixed and high variable cost
Which of the following do NOT illustrate the economy of scale advantages of inventory?
Maintaining supply sources.
What best describes the value proposition for retail displays?
None of the choices are correct.
Fashion goods are at a high risk for which type of hidden cost?
Obsolescence.
Which of the following types of inventory are typically outside the control of supply chain operation?
Obsolete inventory
The greatest element of the inventory carrying cost percentage?
Opportunity cost
The Jones Company learned that several other shippers located in its hometown had customers located in the same markets it serves. With this information, Jones could find it advantageous to investigate the potential of ___.
Pooled delivery consolidation
Which of the following solutions would work best to support customer demands on a retailer following a hurricane?
Preposition supplies in transportation vehicles ready to move into the region once the hurricane has passed.
A company which has limited experience in warehousing who has a need to establish temporary warehouse facilities in multiple cities would most likely use:
Public warehouses
Which of the following modes of transportation has high fixed and low variable costs?
Rail
Which of the following represent risk management strategies for transportation failures?
Redundant vehicles, modes, and operations.
Economic regulation of transportation includes all the following, EXCEPT ___.
Regulation of drivers
A firm that supports an automotive assembly plant by providing just-in-tine inventory is engaged in?
Sequencing
Which of the following is not an arguement for using best of breed software products?
Solution integration
Which of the following sets of conditions does NOT support reactive logic?
Supply uncertainty
The use of a Warehouse Management System (WMS) to route fork trucks on-demand is called:
Task Interleaving
Achieving successful alliances and collaborative relationships requires organizations to make many important changes. Which of the following is least important in terms of change?
Technology.
The document that lists and details the contents and conditions of a shipment is called ___.
The bill of lading
There is increasing consolidation for the major logistics and supply chain service providers. Which of the following is the major justification for this consolidation?
To offer a broad platform of integrated services.
Which of the following is not an example of transportation safety regulation?
Transitioning from stage three to stage four diesel engines to reduce emissions
The tapering principle of transportation rates suggests that ___.
Transportation charges increase at a decreasing rate with distance traveled
The work of logistics involves
Transportation, inventory, order processing, warehousing, & facility network design
(True/False) A disadvantage of RFID tags versus UPC codes is that RFID is more expensive
True
(True/False) The warehouse functionality of sorting means that products are being assembled in custom assortments to meet the needs of specific orders.
True
Ocean transportation from Asia to the west coast of the US would typicallyy require how much time?
Two months
Which of the following is not a benefit of public warehousing?
Typically unionized
Which of the following metrics would be part of the "internal operations perspective" in the Balanced Scorecard?
Units shipped per employee.
A firm that markets products with high value (like electronics) would likely have ______.
a limited number of centrally located warehouses
A firm has an asset turnover of 3 times and a net profit margin of 4%. In the next year its margin decreases to 2%. This is not necessarily bad if ______.
asset turnover increases to at least 6 times
The idea of structuring logistics as an integrated organization ______.
first appeared in the 1950s
One function of a distribution warehouse is consolidation, which means the facility is being used to ______.
group small inbound shipments into one large outbound shipment
To be successful in alliance formation, it is recommended that firms ______.
start on a small scale
The perfect order is the sum of ______.
the product of the percentages of its individual dimensions
Dwell time is ______.
the ratio of the days inventory sits idle in the supply chain to the days it is being productively used or positioned
Your firm is most likely to have an effective relationship with another firm when ______.
there is a high level of interdependence between your firms