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GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer

Set 1

GSCM 434 Week 3 : Overview of Logistics – Quiz

Page 1

1. (TCO 2) Which of the following are not key attributes of supply chain management? (Points : 3)
Inventory control
Leveraging technology
Customer power
A long-term orientation
All are key attributes

2. (TCO 2) Sorting customers into groups with similar logistical needs and wants and then providing them with the service appropriate to those needs and wants is known as: (Points : 3)
outbound logistics.
reverse logistics.
mass logistics.
tailored logistics.
None of the above

3. (TCO 2) The current Global Supply Chain Forum (GSCF) model identifies ____________ key processes associated with supply chain management. (Points : 3)
five
six
seven
eight

4. (TCO 2) Cooperative supply chain relationships developed to enhance the overall business performance of both parties is a definition of: (Points : 3)
third-party logistics.
supply chain collaboration.
dovetailing.
relationship marketing.

5. (TCO 1) The EOQ determines:
the point at which a company should reorder.
the point at which carrying costs equal ordering costs.
the point at which the sum of carrying costs and ordering costs is maximized.
the relevant inventory flow for a particular time period.
None of the above

6. (TCO 1) The reorder point (ROP) is defined as the:
point used for calculating safety stock.
highest inventory level allowed.
lowest inventory level allowed.
fixed level of inventory at which a replenishment order is placed.
None of the above

7. (TCO 1) A commonly used estimate for inventory carrying costs is ____.
35%
25%
20%
10%

Page 2

1. (TCO 3) A transportation manager who purchases a prespecified level of transportation services, regardless of the mode(s) and/or carrier(s) providing the transportation services, is known as a(n):
amodal shipper.
logistics manager.
modal shipper.
transportation manager.

2. (TCO 3) Based on cost, speed, and capacity, which of the following modes is most suitable for high-value, low-volume products (may be perishable or otherwise require urgent delivery)?
Pipelines
Air freight
Motor carriers
Railroads

3. (TCO 3) Which mode was not the best or worst on any of the six attributes (e.g., capability, flexibility, etc.) used to compare the modes?
Railroads
Water carriers
Pipelines
Motor carriers

4. (TCO 4) What is a free trade zone? What functions might be performed in it?

5. (TCO 3) What are the five modes of transportation a firm can use?

6. (TCO 6) What is order management?

7. (TCO 5) What is package monitoring?

Set 2

Week 3 : Order Processing and Packaging – Quiz

Page 1

1. (TCO 2) All of the following terms have been used to refer to business logistics except: (Points : 3)
business logistics.
industrial distribution.
logistics management.
physical distribution.
All of the above

2. (TCO 2) The movement and storage of materials into a firm refers to:
physical distribution.
materials management.
materials handling.
inbound logistics.
outbound logistics.

3. (TCO 2) Two of the most prominent supply chain management frameworks are the Supply-Chain Operations Reference (SCOR) model and the ____ model.
Council of Supply Chain Management Professionals (CSCMP)
Supply Chain Efficiency (SCE)
Global Supply Chain Forum (GSCF)
Penn State University (PSU)

4. (TCO 2) Cooperative supply chain relationships developed to enhance the overall business performance of both parties is a definition of:
third-party logistics.
supply chain collaboration.
dovetailing.
relationship marketing.

5. (TCO 1) Stocks of goods and materials maintained for satisfaction of demand are known as:
supply chain.
inventory.
safety stock.
inventory management.
None of the above

6. (TCO 1) Inventory held for a number of reasons, including projected price increases, seasonal demand, and potential stockouts, is referred to as:
speculative stock.
safety stock.
buffer stock.
pipeline stock.

7. (TCO 1) Inventory turnover can be calculated by: (Points : 3)
adding beginning and ending inventory; divide by two.
dividing the cost of goods sold by average inventory.
dividing the average inventory by the cost of goods sold.
multiplying the average inventory by 1.5.

Page 2

1. (TCO 3) A transportation manager who purchases a prespecified level of transportation services, regardless of the mode(s) and/or carrier(s) providing the transportation services, is known as a(n):
amodal shipper.
logistics manager.
modal shipper.
transportation manager.

2. (TCO 3) Transportation specialists who look to match the shipper’s freight with a carrier are known as:
shipping managers.
logistics managers.
brokers.
transportation managers.

3. (TCO 3) Which mode was not the best or worst on any of the six attributes (e.g., capability, flexibility, etc.) used to compare the modes?
Railroads
Water carriers
Pipelines
Motor carriers

4. (TCO 4) How can advances in technology and communication influence the facility location decision?

5. (TCO 3) How are carriers legally classified?

6. (TCO 6) What are the five ways an order can be transmitted?

7. (TCO 5) What is unit load?

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GSCM 434 Logistics with Lab Week 3 Overview of Logistics Quiz_Set 1 and 2_Answer