What is the primary objective of logistics?

• Maximizing profits

• Ensuring customer satisfaction

• Minimizing production costs

• Expanding market share

Answer explanation

Which of the following is NOT a task involved in logistics?

• Transportation

• Marketing

• Storage

• Inventory Management

Why is efficient logistics important for organizations?

• To increase production costs

• To complicate operations

• To streamline operations

• To reduce customer satisfaction

What is a key strategy for succeeding in logistics?

• Random planning

• Avoiding technology

• Building relationships

• Ignoring suppliers and customers

What role does technology play in logistics?

• Technology is unnecessary in logistics operations.

• Technology can complicate logistics processes.

• Technology helps make logistics operations easier and faster.

• Technology has no impact on logistics efficiency.

  Correct

True or False: Trade-offs in logistics involve choosing between conflicting objectives.

True or False: Carrier selection in logistics does not involve any trade-offs.

True or False: Inventory management in logistics does not require balancing storage costs with supply availability risks.

True or False: Compromise is not essential for achieving optimal outcomes in logistics.

What is included in the Total Distribution Cost (TDC)?

• Only transportation expenses

• Only inventory management expenses

• Shipping, storing, inventory management, order processing, and other logistics charges

• Rent and utilities