LOG321 CHAPTER 2 Quiz

What are the key components of logistics?

• Transportation, Warehousing, Inventory Management, Information Flow

• Customer Service, Marketing, Human Resources, Finance

• Manufacturing, Sales, Research and Development, Customer Relations

• Quality Control, Procurement, Production Planning, Risk Management

Explain the concept of supply chain in inventory management.

• The management of customer relationships

• A type of exercise routine

• Interconnected network of suppliers, manufacturers, warehouses, and retailers involved in the production and distribution of a product.

• The process of creating a new product

What are the different modes of transportation used in transportation management?

• Walking, cycling, skateboarding

• Road, rail, air, water, and pipeline

• Rocket, spaceship, time machine

• Teleportation, flying carpet, magic carpet

Discuss the importance of warehousing in distribution.

• Goods can be stored and moved efficiently without the need for warehousing

• Warehousing is not important in distribution

• Warehousing only adds extra cost to the distribution process

• Warehousing ensures efficient storage and movement of goods to meet customer demand.

How does global logistics impact international trade?

• Causes inefficiencies and bottlenecks in the movement of goods

• Has no impact on international trade

• Facilitates the movement of goods and reduces transportation costs.

• Increases transportation costs and delays the movement of goods

What are the main functions of logistics in a supply chain?

• Human resources, accounting, and finance

• Research and development, production, and quality control

• Transportation, warehousing, inventory management, order fulfillment, and distribution

• Customer service, marketing, and sales

How does Just-In-Time (JIT) inventory management system work?

• By ordering excessive goods and storing them in warehouses

• By only ordering goods after production has already started

• By randomly ordering goods without considering production needs

• By only ordering and receiving goods as they are needed for production or sales.

Explain the role of technology in improving transportation management.

• Technology is too expensive to implement for transportation management

• Technology provides real-time tracking, route optimization, and data analysis for better decision-making.

• Technology only adds complexity to transportation management

• Technology has no impact on transportation management

What are the different types of warehouses used in distribution?

• Retail warehouses, wholesale warehouses, and manufacturing warehouses

• Public warehouses, private warehouses, and bonded warehouses

• Cold storage, dry storage, and refrigerated storage

• Temporary storage, long-term storage, and seasonal storage

Discuss the challenges and opportunities in global logistics and trade.

• The challenges include smooth operations, low cost, and the opportunities include trade regulations.

• The challenges include efficient supply chain, low demand, and the opportunities include trade restrictions.

• The challenges include lack of competition, high demand, and the opportunities include outdated technology.

• The challenges include supply chain disruptions, trade regulations, and the opportunities include technological advancements.