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Exam 9: Supply Chain and Logistics Management

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Question 1

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Firms with products in the introductory stage of the product life cycle often rely on _______ inventory-inventory that is in transit between suppliers and customers.

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Question 2

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According to your text,the ultimate objective of supply chain management is

A) to accurately predict production levels in order to minimize inventory carrying costs.
B) to choose intermediaries that share the same mission as the company.
C) to integrate the activities of related companies so they function as one extended enterprise.
D) to utilize as few channel members as possible in the manufacture of the product.
E) to make each channel as efficient as possible,thus saving the company money.

F) A) and B)
G) All of the above

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Question 3

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The distribution center activity that involves picking available goods to fill customer orders is product _______.

In a _____ strategy,customer orders drive(s)manufacturing and distribution operations.

Outdoor Living is a manufacturer of patio dining sets and outdoor furniture.Typically,customers purchase the company's products as the summer season begins and as such,do not want to wait for the product to be manufactured.Which supply chain strategy would work best for Outdoor Living?

According to your text,all of the following are factors that companies must consider in choosing a transportation mode except

Purchasing is an important logistical function for all of the following reasons except

During the maturity and decline stages,a firm may want to stick with the maximum flexibility a pull strategy allows or follow a hybrid strategy that commits to inventory of raw and packaging materials without committing to a large amount of finished goods inventory.

The transportation mode for items that can be digitized and sent through the Internet is termed _______.

According to your text,the primary reason firms rely on inventory management is

What is the term used for the inbound movement and storage of materials in preparation for those materials to enter and flow through the manufacturing process?

The set of activities a firm takes to coordinate the various flows within a supply chain is referred to as _____ _____ _____.

Which element(s) of the four Ps of the marketing mix is/are affected by logistics?

A British company manufactures specialty teas and sells them to a retailer in Estes Park,Colorado.In order to get the product to the end-user,the teas are shipped via ocean liner to a port in the Gulf of Mexico and then placed on a railway car to Denver,Colorado.From Denver,the tea is placed on a truck and taken to the retailer in Estes Park.This is an example of

Warehouse activities can be organized into which three basic functions?

When a company recognizes the importance of sharing supply and demand information with suppliers and customers,it is practicing supply chain management.

A company that outsources some or all of its logistics activities to other companies is engaged in

Bob's Custom Millwork is a business that provides custom cabinetry and furniture for both businesses and individual consumers.Bob does not make any products until he receives an order from the customer.What type of marketing strategy does this represent?

The main reason why airfreight is used sparingly is the lack of accessibility to all parts of the world.

A legal obligation to buy a certain amount of product at a certain price from a supplier to be delivered at a specified date is referred to as