Marketing Study Set 20

Business

Quiz 10 :

Supply Chain and Logistics Management

Quiz 10 :

Supply Chain and Logistics Management

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Intermodal transportation refers to transportation that occurs across state lines.
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False

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Warehousing activities can be organized into three basic functions: storage, movement, and re-stocking.
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False

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Costs required to make or buy a product including taxes, insurance and warehousing space to store the goods are referred to as inventory carrying costs.
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True

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When a company recognizes the importance of sharing supply and demand information with suppliers and customers, it is practicing supply chain management.
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Effective materials management supports marketing objectives by making sure that goods are available to ship to customers in an efficient and effective manner.
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The terms push strategy and responsive supply chain are synonymous.
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Put-away refers to moving goods to their temporary or semi-permanent storage location and updating inventory records.
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Logistics is that part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final customer.
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The main advantage of a supply chain pull strategy is that it allows firms to achieve economies of scale.
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Transportation management is part of a firm's distribution activities.
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A set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer is referred to as a marketing chain.
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Distribution involves holding inventories of both intermediate materials and finished goods.
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Enterprise resource planning (ERP)systems are data management systems that are used exclusively to determine efficient transportation routes.
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Picking involves unloading goods from a carrier, updating inventory records, and quality inspection, if required.
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Of all the logistics functions, transportation management is the least important.
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An omnichannel is a type of retail that offers different methods of shopping and delivery of products to consumers.
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Due to the universal accessibility of motor transport, most shipments will include some leg of the journey that will be completed by truck.
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During the maturity and decline stages, a firm may want to stick with the maximum flexibility a pull strategy allows or follow a hybrid strategy that commits to inventory of raw and packaging materials without committing to a large amount of finished goods inventory.
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A purchase order is a legal obligation to buy from a supplier a certain amount of goods for an agreed upon price.
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The ultimate objective of supply chain management is to integrate related companies in order to facilitate coordinating activities across the supply chain in a manner that improves the entire chain's performance.
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