Question

1-The term “supply chain management” is one of the most confusing and misused terms in business. For our purposes, supply chain management:

a)plans, implements and controls the efficient, effective flow and storage of goods, services, and related information between the point of origin and the port of consumption in order to meet customers’ requirements.

b)is the integration of key business processes from end user through original suppliers, that provides products, services, and information that add value for customers and other stakeholders.

c)synonymous with “business.” Supply chain management came into vogue in the 1990s as another means to describe business activities engaged in providing products and value to the end customer.

d)synonymous with “logistics.” Supply chain management as a term surfaced in the 1990s and describes the processes and activities involved in providing goods and services to the final end customer.

2-The terms "logistics" and "supply chain management:"

a)Logistics refers to that part of the supply chain involved with the movement of goods while supply chain management refers to several processes spanning multiple companies

b)They are synonymous-they mean the same thing

c)Supply chain management is the management of logistics flows across multiple companies while logistics focuses on flows only within a company

d)Supply chain management can be represented by both materiels management and physical distribution flows within a company

3-Logistics managers frequently make cost trade-offs to lower overall costs to the firm. Which of the following statements best represents the cost trade-off between inventory and transportation ?

a)Logistics professionals attempt to use low cost carriers as a means to drive down the inventory carrying cost and reduce total logistics cost.

b)The ability to reduce both transportation and inventory carrying costs by making an effective cost trade-off is the most efficient means to reduce total cost

c)No cost trade-off is possible - these are two different functions.

d)Logistics managers will consider spending more on premium transportation if inventory carrying costs are reduced by a greater amount.

e)An increase in transportation costs means these costs will simply be passed along to the consumer in the form of higher prices.

4-The on-line text makes reference to Eculidean, transport, and logistical distance. Logistical distance refers to:

a)a straight line between two locations

b)a complete set of tasks required to be done so that distance can be overcome

c)the exact route a vehicle will actually take from origin to destination

d)the shortest route given the transportation network between origin and destination

e)the distances for routes that take into account travel between Europe and North America using polar routes

Answer 1

answer-

1- b)is the integration of key business processes from end user through original suppliers, that provides products, services, and information that add value for customers and other stakeholders.

2- a)Logistics refers to that part of the supply chain involved with the movement of goods while supply chain management refers to several processes spanning multiple companies

3- d)Logistics managers will consider spending more on premium transportation if inventory carrying costs are reduced by a greater amount.

4- b)a complete set of tasks required to be done so that distance can be overcome