The objective of Walmart's early network design strategy was to:

• Place stores in "high potential" markets

• Locate stores close to a Distribution Center

• Locate stores close to Bentonville

• Use supply chain savings to drive temporary price reductions

• All of the above

Which of the following is a theme throughout the course?

• Supply chain management and logistics are not the same and are not even similar
  

• Supply chain management is the same thing as logistics, but just a new term

• How logistics and supply chain management can be used to create a competitive advantage

• Logistics is just another term for transportation

Supply chain management is the management of the _______ of business processes between functions in a firm and with suppliers and customers.

• Avoidance

• Integration

• Instrumentation

• Institutionalization

Logistics is the management of the flow and storage of inventory such that total cost is minimized and ____________ are achieved.

• Revenue Goals

• Shipment goals

• Competitive interactions

• Customer service targets

Process improvement is concerned with increasing the speed of the process, reducing the cost of the process, or increasing the reliability of the process, without changing ____________.

• the metrics used to measure the activity

• the controls of the activity

• the order of the activities

• All of these

The term ____________________ today refers to a firm that supplies logistics and possibly other supply chain management services.

• just-in-time (JIT)

• supply base rationalization

• third-party logistics (3PL) providers

• outsourcing

Economies of scale is defined as a reduction in ________ when volumes are increased.

• total cost

• average market price per unit

• average margin per unit

• average cost per unit

Which of the following benefits did Walmart achieve from their early network design strategy?

• Reduction in safety stock at the stores

• Lower cost per store for the DCs to serve the stores

• Reduction in in-transit stock to the stores

• Reduction in transportation costs from the DCs to the stores

• All of these were benefits

The management of the flow and storage of inventory, such that total costs are minimized and customer service targets are achieved is referred to as:

• Supply Chain

• Transportation

• Logistics

• None of these

Which of the following is a fundamental concept of logistics management?

• Service levels and inventory investment are unrelated.

• Tradeoffs should be ignored and the focus should be on "low hanging fruit".

• If you manage transportation well, all of the other logistics costs are minimized.

• There are tradeoffs among many of the logistics costs and customer service targets.