FOL Chapter 1 & 2

Which mode of transportation is most suitable for high-value, time-sensitive goods?

• Road

• Rail

• Air

• Sea

What is the key objective of production logistics?

• Delivering final products to customers

• Ensuring timely and accurate supply of materials to production lines

• Handling returned goods

• Supplier selection and negotiation

What is the economic impact of increased logistics costs on businesses?

• It increases product shelf life

• It results in lower profits or higher prices for consumers

• It increases production capacity

• It has no measurable effect

What kind of utility is created when products are made available to customers at the exact time they are needed?

• Place Utility

• Form Utility

• Time Utility

• Possession Utility

Which sub-division handles movement of finished goods to retailers?

• Inbound logistics

• Outbound logistics

• Procurement logistics

• Reverse logistics

Logistics is a part of the supply chain that mainly focuses on

• Movement and storage of goods efficiently

• Strategic sourcing

• Designing new products

• Market segmentation

What differentiates logistics management from general logistics?

• It deals only with outbound logistics

• It excludes reverse logistics

• It is the planning and control of both forward and reverse logistics flows

• It replaces the need for warehousing

Which of the following is not part of the key components of logistics management?

• Transportation

• Warehousing

• Inventory management

• Packaging design

What is the main function of Transportation-Warehouse Unified Systems (TWMS)?

• Managing export documentation

• Combining TMS and WMS in a single platform for end-to-end logistics control

• Replacing ERP systems

• Tracking employee schedules

What is the goal of logistics within a firm in terms of profitability?

• Maximize employee performance

• Lower inventory to zero

• Maximize long-term profitability at lowest total cost with acceptable service

• Maximize short-term cash flow