Business Logistics Review 1

Supply Chain Management is a set of processes used to effectively and efficiently integrate suppliers, manufacturers, distribution centers, distributors, and retailers so that products are produced and distributed in the right quantities

• True

• False

Refers to the value or usefulness of a product in fulfilling customer needs and wants

• Time Utility

• Form Utility

• Economic Utility

• Place Utility

Is having products available where they are needed by the customers

• Economic Utility

• Possession Utility

• Form Utility

• Place Utility

Is having products available when they are needed by customers

• Place Utility

• Economic Utility

• Time Utility

• Possession Utility

Why is logistics important?

• A reduction in economic regulation

• Changes in consumer behavior

• Technological Advances

• Advancements in retailing and globalization of trade

• All of these are important

What is the difference between a systems approach and a total cost approach?

• Total Cost approach is compatibility between a company's goals and objectives and major functional area goals and objectives, Systems approach involve cost trade offs a total logistics concept

• Systems approach is the compatibility between a company's goals and objectives and major functional area goals and objectives. Total cost approach involve cost trade offs and a total logistics approach

What is an example of interdependence in logistics activities?

• Marketing

• Finance

• Logistics compatibility

• All of the above

Marketing channels are a set of institutions necessary to transfer the title of goods and to move goods from point of production to the point of consumption

• True

• False

Are enterprise systems such as finance, procure, HR, and Logistics

• Marketing Channels

• Decoupling

• Data Mining

• Big Data

Pulling and extracting pieces of information to find patterns and gain insights

• Decoupling

• Data Mining

• Big Data