MKT 255 exam 1

Be able to define density, stowability, weight, dunnage, and material handling.

Density: Refers to how heavy a product is in relation to its size Stowaility: refers to how easy a commodity is to pack into a load weight: a body's relative mass or the quantity of matter contained by it Dunnage: materials of various types, placed among the cargo for separation and the protection from damage Material Handling: the movement, protection, storage, and control of materials and products throughout manufacturing.

What is an expedite and in what situations would you want to do them?

Expediting is the need to rapidly move a shipment to its final destination. You should use it when you have strategic partners that rely on you for goods that are components needed to finish a product. Also, when you are shipping to a retailer with strict delivery times. You would also expedite high-value goods.

What does HOS stand for? Why were they established?

HOS is the acronym for Hours of Service. HOS was established federally to control the number of hours in which truck drivers work to prevent burn out or unsafe conditions of drivers on the road.

Lead time and cycle time

Lead Time: is the time it takes for one unit to make its way through your operation from front to end (from taking the order to receiving payment). If lead time is much higher than cycle time, it means you have a lot of units in your inventory. Lead time measures the time elapsed between order and delivery, thus it measures your production process from your customer's perspective. Cycle Time: the time it takes to complete the production of one unit from start to finish. Take time is based on customer demand where cycle time is work process based. By tracking your completed items and your net production time, you can determine the time it takes for you to complete one cycle. Cycle time starts when the actual work begins on the unit and ends when it is ready for delivery.

Being SMART when establishing metrics and KPI's

Metrics are a quanitative measure that check the status of a specific process while a KPI is a Key Performance Indicator, which measures basic statistics that indicates how the business is performing. SMART is an acronym that serves as the criteria a KPI or a metric must have. The criteria SMART sets, is that it must be Specific, Measurable, Accurate, Reliable, and Timely.

How much total of the US waste does municipal packaging consist of?

Municipal waste is waste that comes from commercial and household sources in which is then collected to be recycled, incinerated, or disposed of in municipal solid waste landfills. It's approximated that about 1/3rd of total US waste is consisted of municipal packaging.

Be able to define Order Management

Order management is the administration of business processes related to orders for goods or services. An order management system automates and streamlines order processing for businesses. Without order management essentially logistics would not be possible. It is crucial to the overall process of sending and shipping packages to the consumer. It is needed in the everyday life of the average consumer. Good luck on the exam everyone

What is RFID and what is GPS and what applications and impact do they have?

RFID systems An RFID system consists of three components: a scanning antenna and a transponder. An RFID tag consists of a microchip, memory, and antenna. uses radio frequency waves to transmit signals that activate the tag. Once activated, the tag sends a wave back to the antenna, where it is translated into data. Two Types of RFID An active RFID tag has its own power source, often a battery. A passive RFID tag, on the other hand, does not require batteries; rather it receives its power from the reading antenna, whose electromagnetic wave induces a current in the RFID tag's antenna. There are also semi-passive RFID tags, meaning a battery runs the circuitry while communication is powered by the RFID reader. RFID applications It is also used in the supply chain for improving visibility and distribution. The most common RFID application is for tracking and management. This includes pet and livestock tracking, inventory management and asset tracking, cargo and supply chain logistics, and vehicle tracking. RFID can also be used in retail for advertising customer service and loss control. Multiple industries use RFID applications, including healthcare, manufacturing, retail, business, and home use. (GPS) Global Positioning System Is a U.S. owned technology that helps locate and track GPS-enabled devices and tags by using satellites. These satellites fall into three segments: space, the control, and the user segment. They are also available for applications like tracking cargo, shipping containers or machine

Understand the differences between the terms Logistics and Supply Chain Management

Supply chain Management is a bigger concept. SCM is a group of processes, functions, activities, relationships, and pathways of getting products, services, and financial transactions from the producer to the end user. Logistics is only a part of SCM. Logistics focuses on plans, implements , and controls the efficient effective forward and reverse flow and storage of goods, services, and related information.