Refers to the unique attributes, resources and capabilities that a company possesses that sets it apart from its competitors and allows it to achieve superior performance and profitability.

• Cost leadership

• Focus

• Differentiation

• Competitive advantage

Why is logistics important to economic growth?

• It improves customer service

• It focuses on technological advancements

• It helps in marketing strategies

• It enables businesses to take advantage of comparative cost advantages

What is the impact of logistics on the variety of goods available to consumers?

• Consumers can buy products from far places and long after they are made

• Consumers have limited choices in products

• Consumers can only buy products directly from manufacturers

• Consumers can buy products only from local markets

How does logistics operations contribute to price reductions?

• By forming time and place utility

• By improving the transportation infrastructure

• By decreasing the availability of products

• By increasing the production costs

How does transportation influence land values?

• It has no impact on land values

• It decreases the value of land

• It increases the accessibility of the property

• It reduces the land use

What is the primary goal of logistics?

• To reduce the quality of goods

• To increase costs for the client

• To fulfil the requirements of the client

• To delay the delivery of goods

What are the three primary categories into which logistics can be broken down?

• Supply chain logistics, Financial logistics, Event logistics

• Business logistics, Financial logistics, Event logistics

• Military logistics, Event logistics, Supply chain logistics

• Business logistics, Military logistics, Event logistics

What is the role of logistics in an organization?

• To increase operational costs

• To create value for the customer

• To decrease customer satisfaction

• To complicate the supply chain

What is one of the objectives of logistics in an organization related to customer service?

• To ignore customer service

• To increase customer complaints

• To standardize and control customer service performance

• To complicate customer service

What does logistics aim to achieve in terms of inventory?

• To increase inventory levels

• To ignore inventory management

• To have excess inventory

• To keep inventory to a minimum