Question 1

Focused production is

Accepted Answer

Focused production is a strategy in which a given plant produces one or two items of the company's total product line. It is a way to increase efficiency and reduce costs by specializing in a particular product. It is not related to making only what the market desires, uncertainty in market demands or a trend in the electronics industry with manufacturing in China.

Question 2

Discuss the impact of 9/11 on international logistics.

Accepted Answer

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Question 3

Discuss how our trading partners have changed in relation to their amount of trade with the U.S.

Accepted Answer

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Question 4

The global logistics channel intermediary that supervises the movement of goods through customs and ensures that the documentation accompanying a shipment is complete and accurate is known as

Accepted Answer

A customs house broker supervises the movement of goods through customs and ensures that the documentation accompanying a shipment is complete and accurate. A foreign freight forwarder is responsible for the transportation of goods from one country to another, while an export packer provides packaging solutions for exporting goods. A foreign trade specialist is an expert in international trade laws and regulations.

Question 5

America's ports are a key component of its global commerce. U.S. ports also play a vital role for the cruise industry. Which of these is not one of the top three departure ports for the cruise industry?

Accepted Answer

According to Cruise Lines International Association (CLIA), the top three departure ports for the cruise industry in 2019 were Port Canaveral, Miami, and Ft. Lauderdale. Cape Liberty did not make the top three.

Question 6

Which condition must be present before motor carriers and rail carriers can be used for international shipments?

Accepted Answer

Motor carriers and rail carriers are typically used for international shipments between adjacent countries due to the practicality and feasibility of land transportation across borders.

Question 7

Define and discuss NAFTA.

Accepted Answer

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Question 8

Which type of global logistics channel intermediary enables goods to move through customs more easily by consolidating small shipments into more economical sizes?

Accepted Answer

A foreign freight forwarder typically consolidates and coordinates multiple small shipments from different shippers into more economical and efficient sizes for transportation. This can facilitate the movement of goods through customs more easily, as larger shipments often receive more favorable treatment and pricing from customs authorities. Customs house brokers primarily handle customs documentation and compliance for individual shippers, while NVOCCs specialize in ocean transportation services and exporting. Export traders are intermediaries who purchase goods from producers and sell them overseas, but do not typically handle logistics or transportation directly.

Question 9

What are the three phases of globalization? Pick one and discuss.

Accepted Answer

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Question 10

Gemini products wishes to enter foreign markets but lacks the resources to do so. They evaluate their alternatives and approach Overseas Traders, LLC, a company that specializes in the foreign distribution of products of the type which Gemini manufacturers. Overseas purchases $50,000 of Gemini's products for sale on the international market. Overseas is which type of global logistics channel intermediary?

Accepted Answer

Overseas Traders, LLC is an export trading company, as it specializes in the foreign distribution of products and purchased Gemini's products for sale on the international market. NVOCC (non-vessel operating common carrier) typically handles documentation and transportation of cargo but does not specialize in distributing products. Export packers specialize in preparing goods for shipment. Customs house brokers handle clearance of goods through customs.

Question 11

Which are the major modes of international transportation?

Accepted Answer

Water and air transportation are the major modes of international transportation. Water transportation is cost-effective and efficient for moving large volumes of goods, while air transportation is fast and reliable for moving valuable or time-sensitive goods.

Question 12

Which is the main advantage of international air transport?

Accepted Answer

International air transport is primarily valued for its fast transit times, allowing for quick delivery of goods and passengers across long distances.

Question 13

From a customer service perspective, global markets and strategy have four important characteristics. Name them and select one to discuss.

Accepted Answer

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Question 14

These are designated by the U.S. secretary of the treasury for the purpose of storing, repacking, sorting or cleaning imported merchandise entered for warehousing without paying import duties while the goods are in storage.

Accepted Answer

Bonded warehouses are designated by the U.S. secretary of the treasury for the purpose of storing, repacking, sorting or cleaning imported merchandise entered for warehousing without paying import duties while the goods are in storage. Hold-on-dock storage, in-transit storage areas, and transit sheds may also be used for storing goods, but they do not have the specific designation of being bonded warehouses for the purpose of avoiding import duties.

Question 15

Discuss how companies and economies can increase their wealth.

Accepted Answer

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Question 16

The biggest and best known example of a regional trade agreement (RTA) is the:

Accepted Answer

The European Union (EU) is the biggest and most well-known example of a regional trade agreement (RTA). It is a political and economic union of 27 member states located primarily in Europe. The EU has a single market with free movement of goods, services, capital, and people, as well as a customs union with common external tariffs. This has facilitated trade among members and led to increased economic integration.

Question 17

Which is a major category of ocean shipping?

Accepted Answer

Charter vessels are a major category of ocean shipping where a company hires an entire vessel for a specific shipment or period of time. Passenger travel, common carriers, and exempt carriers are not major categories of ocean shipping.

Question 18

Which category of ocean shipping offers set schedules over specified sea routes?

Accepted Answer

Liner service offers set schedules over specified sea routes, while the other options (charter vessels, private vessels, and demise charter vessels) do not have set schedules and routes.

Question 19

As market forces continue to exert pressure on companies to improve profitability, the quest for lower-cost manufacturing has been a factor in the relocation of manufacturing from Mexico to ________ ?

Accepted Answer

Relocation of manufacturing from Mexico to Asia has been a trend in recent years due to the lower labor costs and abundant workforce in countries like China and India.

Question 20

Goods can be stored in a bonded warehouse

Accepted Answer

Goods can be stored in a bonded warehouse for up to 3 years, after which they must either be exported or released for local consumption.

Quiz 3: Global Dimensions of Supply Chains