FULLFILLMENT TEST 3- BARTO

Explain the omni-channel concept.

"Anytime, anywhere, anyhow, and any device." The idea here is that consumers have the options of where to buy, when to buy, and how to buy from a retailer.

What is the estimated 3PL spending in the U.S. in 2018?

$195.8 billion

What are some examples of products made with 3-D printing technology?

GE Fuel nozzles

Explain how to calculate asset turnover.

Sales/Total Assets

Explain financial terms in Appendix 13A on page 536-546.

See book

What are the elements of successful collaboration?

1. well understood goals and objectives 2. trust and commitment 3. organizational compatibility and communication 4. equitable sharing of gains and losses 5. benefits greater than going at it alone 6. dedication to continuous improvement 7. strategic plan to provide direction to the collaboration

What is the typical radius from the origin that trucking operates within?

500 miles

What is the average shipping distance for rail movements?

554 miles

Explain the trade-off between efficiency and effectiveness.

Efficiency- How well resources expended are utilized• Providing the required service for the lowest cost. Effectiveness- Gap between customer expectations and customer perceptions of the quality of the actual service delivered.

Explain the differences between 1PL, 2PL, 3PL, and 4 PLs.

-1PL - Shippers or receivers of product moved through supply chain. -2PL - Asset-based logistics providers that physically move product through the supply chain (transport carriers of various modes). -3PL - Firms that manage and/or provide logistics services on behalf of their clients and customers. Most of these organizations are non-asset based. -4PL - Firms that provide broader scope of services to help manage elements of the supply chain, and typically may be more strategically involved than 3PLs would be. -5PL - Companies that aggregate demands of 3PLs into bulk volumes to negotiate better rates with logistics service providers.

Know the main attribute of SCM software packages.

-Supplier Relationship Management -Enterprise Resource Planning -Customer Relationship Management -Supply Chain Planning -Warehouse Mangement System -Transportation Mangement System

What are the supply chain process enablers that information systems must support to help organizations achieve higher levels of performance?

1) Cross-chain visibility 2) Agility 3) Velocity 4) Synchronization 5) Adaptability 6) Segmentation 7) Optimization

What are the top 5 outsourced logistics services in order?

1) Domestic transportation 2) Warehousing 3) International Transportation 4) Freight Forwarding 5) Customs Brokerage

What are the roots of modern day 3PLs (different areas they arose from)?

1) Transportation-based 2) Contract-based 3) Freight Forwarding-based 4) Finance-based 5) Information based 6) Corporate- Subsidaries based

What are the characteristics of a good metric?

1. quantitative 2. easy to understand 3. encourage appropriate behavior 4. viable 5. defined 6. encompasses outputs and inputs 7. measures what is important 8. multi dimensional 9. uses economies of effort 10. facilitates trust.

What is On-demand software or SaaS?

A method of software delivery and licensing in which software is accessed online via a subscription, rather than bought and installed on individual computers. (THE CLOUD)

What are the key characteristics that information must have to meet quality standards?

Accuracy/ Accessibility/ Relevancy/ Timeliness/ Transferability/ Usability/ Reliability

What global region has the largest 3PL volume and compound annual growth rate?

Asia-Pacific

What are the pros and cons of each of the 5 modes of transportation?

Class 22 Ch.11 slide 29.

What are the differences between containerized freight and transload freight?

Containerized- Loaded into or onto storage equipment at the origin and delivered to the destination in or on that same piece of equipment with no additional handling. Transload- Involves goods that are handled and transferred between transportation equipment and mode multiple times.

What are the differences between data, information, and understanding?

Data- Unorganized facts that need to be processed(e.g. levels of inventory at ends of financial periods). Information- Data that has been gathered, processed, organized & structured in a given context (e.g.average levels of inventory and/or levels of inventory by SKU). Understanding- Information that has been examined & studied in context of specific business situations(e.g., inventory levels in relation to overall economic conditions).

What are the 4 levels in the supply chain analytics maturity model, and what are some examples of the analytical resources available for each?

Descriptive- Data from supply chain partners/ alerts and notis. Predictive- Forecasting/ Predictive modeling. Prescriptive- Scenario planning Cognitive- IBM Watson

In which of these 4 categories does demand planning and strategic network design belong?

ERP

What is intermodal transportation, and why is it used?

Intermodal transportation service refers to uses of two or more carriers of different modes in the origin-to-destination movement of freight.

What are Incoterms, and how are they used?

Internationally recognized commercial terms that describe the responsibilities of the buyer and seller in the arrangement of transportation.

How does inventory reduction affect the company financials?

Large(r) changes in Balance Sheet amounts result in small(er) changes in performance.

Explain what is meant by measures, metrics, and indexes?

Measure- Broadly Stated/ Simple (no calculations) Metrics- Specifically defined/ Calculated/ Expressed as ratio. Indexes-

Explain the difference between FOB origin and FOB destination.

Origin- Buyer takes immediate responsibility of getting the package. Destination- Seller is responsible for getting it to your doorstep.

What are the differences between for-hire and private fleet operations in trucking?

Private- Serves a company.

What 3 network elements must be linked to create a robust operating environment?

Process, People, Technology

Explain how to calculate Return on Assets and how supply chain decisions such as changes in supply chain costs and inventories affect the Income Statement and Balance Sheet.

Profit Margin x Asset Turnover

What is the outlook for supply chain talent management?

Qualified candidates with the appropriate mix of supply chain skills, general management aptitude, and relevant industry knowledge are in short supply. This problem will continue into the future unless organizations take steps to actively manage and enhance their talent supply chain.

How are retail store operations affected by omni-channel?

Retail stores may also serve as fulfillment centers in an Omni-Channel environment.

What are the 4 R's of Sustainability?

Reuse (highest), Remanufacturing, Reconditioning, Recycling (last resort)

What is different about reverse flows in the supply chain compared to forward flows to the consumer?

Reverse flows are when they take product back for various reasons whereas the forward flow in the supply chain typically has received the most attention since it is so important in terms of customer service, revenue, and cash flow.

What are the differences between TL, LTL, and small package carriers?

TL- Load that fills up a full truck. Contracted from one customer. LTL-Fairly small freight that doesn't meet a full truckload. Generally between 150-15,000 lbs. Parcel- Max package weight of 150 lbs.

How do transportation decisions affect inventory costs?

The more you receive at a time, the more average inventory you will have on-hand (higher ICC).

Explain the importance of the concept of transfer of ownership.

The party that owns the goods is responsible for their safe delivery. It is very important to determine who owns the goods, along with at what point ownership is transferred to another party. This is important because if something happens to the goods along the way determining who is responsible for replacement is key

What effect does 3-D printing potentially have on inventory levels and why?

The use of 3-D Printing can result in reduced inventories.

What are some common process measures in the categories of time, quality, and cost?

Time- On-time delivery/ Order cycle time/ Response time. Cost- Finished goods/ Inventory turns/ Days sales outstanding/ Cost to serve/ Cash-to-Cash cycle time. Quality- Overall customer satisfaction/ Processing accuracy/ Perfect order fulfillment.

Explain the differences between transactional, collaborative, and strategic business relationships.

Transactional- Little or no integration or collaboration. Collaborative- Partner Strategic- Highly relational (alliance)

Which mode of transportation is #1 in the U.S. in Value of Goods, Tons, and Ton-Miles shipped?

Trucking

Explain the differences between vertical, horizontal, and full collaboration.

Vertical: buyers and sellers. Horizontal: parallel positions in the logistics and supply chain process. Full Collaboration: both vertical and horizontal integration. All members of the collaboration benefit from gains and losses.

What are the top 5 most popular distribution center metrics?

on time shipments internal order cycle time dock to stock cycle time total order cycle time order picking accuracy