ITL_Chap1

Which of the following best defines logistics management (Council of Logistics Management, 1999)?

• Planning, implementing, and controlling flows of goods and information from supplier to distributor

• Coordinating marketing and sales functions across the company

• Planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from origin to consumption

• Managing supplier contracts and negotiations only

Which are the three key functions of logistics management?

• Produce – Deliver – Sell

• Plan – Implement – Control

• Source – Store – Ship

• Order – Transport – Invoice

Which of the following is NOT a main flow in supply chains?

• Product flow

• Information flow

• Financial (cash) flow

• Marketing flow

Why is transportation considered indispensable in developed economies?

• It creates new consumer trends

• It reduces the need for production facilities

• It enables survival, growth, and global trade through efficient movement of goods and people

• It replaces raw material production

Which example illustrates global production networks?

• Rice grown and consumed within a single village

• iPhone parts designed in the US, produced in multiple countries, and assembled in China

• Local farmers’ market distribution

• Handmade crafts sold in local stores

Which group of emerging economies is abbreviated as VISTA?

• Vietnam, Indonesia, South Africa, Turkey, Argentina

• Venezuela, India, Singapore, Thailand, Australia

• Vietnam, Italy, Spain, Tunisia, Austria

• Venezuela, Indonesia, Sri Lanka, Turkey, Angola

What is the bullwhip effect?

• A sudden increase in product quality

• Stocking level variability upstream or downstream due to demand uncertainty

• A pricing strategy in transportation

• A technique for speeding up deliveries

Which of the following helps mitigate the bullwhip effect?

• Reducing product quality

• Increasing safety stock only

• Timely, accurate two-way information flows

• Eliminating all suppliers

Which of the following is an example of forward information flow in supply chains?

• Customer returns

• Advanced shipment notices

• Reverse logistics

• Payment for goods

Financial flows in supply chains involve:

• Product design

• Marketing promotion

• Backward flows of payments for goods and services

• Reverse logistics