Logistics and Operations Management 2024
24 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is a critical aspect of performance measurement in benchmarking?

  • Calculating customer satisfaction scores
  • Assessing productivity levels across departments
  • Determining the level of competitive standing (correct)
  • Evaluating inventory turnover rates

    • What is a limitation of internal benchmarking within organizations?

  • It focuses solely on external best practices.
  • It provides extensive performance metrics against competitors.
  • It is difficult to identify internal groups for comparison.
  • It may not provide insights on competitive performance. (correct)

    • In contribution analysis, which type of costs must be identified?

  • Total costs without distinction
  • Fixed and variable costs (correct)
  • Annualized costs only
  • Indirect costs only

    • Which approach is NOT mentioned as an available method to identify and control logistics expenses?

    <p>Inventory management accounting (A)</p> Signup and view all the answers

    What is a common deficiency in accounting practices for preparing financial statements?

    <p>Costs are aggregated on an activity basis rather than a standard basis. (B)</p> Signup and view all the answers

    Which analysis is essential for obtaining a financial view of integrated logistics?

    <p>Cost-revenue analysis (C)</p> Signup and view all the answers

    Which organization type is easier to benchmark against for best practices?

    <p>Internal groups within the organization (A)</p> Signup and view all the answers

    What is a characteristic feature of variable costs?

    <p>They increase directly with the level of production or sales. (D)</p> Signup and view all the answers

    What percentage of the supply chain mix does Gattorna attribute to human behavior?

    <p>45% (C)</p> Signup and view all the answers

    Which of the following is NOT a key element contributing to supply chain effectiveness according to Gattorna?

    <p>Product pricing strategies (D)</p> Signup and view all the answers

    What role does the COO play in contrast to the traditional CEO-centric decision-making?

    <p>The COO shares a prominent leadership role with the CEO. (C)</p> Signup and view all the answers

    Which statement best describes traditional supply chains according to the content provided?

    <p>They consist of equal parts infrastructure and information systems. (A)</p> Signup and view all the answers

    What is the suggested focus for developing a successful supply chain according to Gattorna?

    <p>Customer satisfaction (C)</p> Signup and view all the answers

    Which process is associated with the agility and resilience of the supply chain?

    <p>S&amp;OP process (D)</p> Signup and view all the answers

    What should the percentage distribution of asset infrastructure be in Gattorna's supply chain mix?

    <p>10% (B)</p> Signup and view all the answers

    Which of the following metrics is essential in assessing customer relationships in the supply chain context?

    <p>Customer satisfaction (B)</p> Signup and view all the answers

    Which category is considered the most direct reflection of logistics performance?

    <p>Cost (C)</p> Signup and view all the answers

    What is typically included in the total logistics cost calculation?

    <p>Order processing, transportation, and warehousing (B)</p> Signup and view all the answers

    Which metric is a common way to report transportation cost?

    <p>Percentage of sales volume (C)</p> Signup and view all the answers

    What is one primary objective of a performance measurement system in logistics?

    <p>Control system performance through established standards (B)</p> Signup and view all the answers

    Which aspect does operational assessment focus on in logistics?

    <p>Functional perspectives and customer accommodation (C)</p> Signup and view all the answers

    Which of the following is a metric that may be used to measure productivity?

    <p>Inventory turnover rate (B)</p> Signup and view all the answers

    What is an intended outcome of implementing a balanced scorecard?

    <p>Improving all aspects of organizational performance (C)</p> Signup and view all the answers

    What does asset management in logistics primarily focus on?

    <p>Efficiently utilizing resources and investments (D)</p> Signup and view all the answers

    Flashcards

    Benchmarking

    Comparing one's performance metrics and processes to best practices, especially of competitors or other successful organizations.

    Total Supply Chain Cost

    The sum total of all costs incurred throughout the entire supply chain, from sourcing raw materials to delivering the final product to the customer.

    Cost-revenue analysis

    A financial assessment tool that examines the relationship between costs and revenue to understand how profitable different supply chain segments are.

    Fixed cost

    A cost that doesn't change with the volume of production or sales.

    Signup and view all the flashcards

    Variable cost

    A cost that changes directly with the volume of production or sales.

    Signup and view all the flashcards

    Non-restricted benchmarking

    Comparing company performance and processes to best practices in any organization, not just competitors.

    Signup and view all the flashcards

    Balanced Scorecard

    A comprehensive system for assessing performance.

    Signup and view all the flashcards

    Operational Assessment

    Evaluating logistics performance from various functional perspectives.

    Signup and view all the flashcards

    Strategic Profit Model

    A management tool used to analyze a company's profitability focusing on various segments.

    Signup and view all the flashcards

    Activity-Based Costing

    A method of costing which identifies activities within the firm and assigns costs to products based on the activity consumption.

    Signup and view all the flashcards

    Logistics Performance Metrics

    Key measurements used to track and evaluate logistics activities.

    Signup and view all the flashcards

    Total Logistics Cost

    The overall cost of all logistics activities involved in getting a product to market.

    Signup and view all the flashcards

    Cost Metric

    Logistics metrics that measure expenses.

    Signup and view all the flashcards

    Customer service metric

    Metrics measuring how well customers are accommodated.

    Signup and view all the flashcards

    Productivity Metric

    Metrics measuring the efficiency of logistics operations.

    Signup and view all the flashcards

    Procurement Strategies

    Procurement strategies are methods used to acquire goods and services. They can be standardized across the business or tailored to specific units, functions, or geographies.

    Signup and view all the flashcards

    Supply Chain Mix

    A supply chain is often composed of infrastructure, technology, and people. The mix emphasis has traditionally been on 50% for infrastructure and technology and also 50%. Gattorna suggests rethinking this split to 45%/45%/10% focusing heavily on human behavior, technology, and asset infrastructure.

    Signup and view all the flashcards

    Supply Chain Success Factors

    A successful supply chain encompasses the organizational design, positioning of individuals, processes, information systems, planning processes (like S&OP) internal communication, job design, KPIs, training, and leadership styles.

    Signup and view all the flashcards

    Organizational Design

    How a company structures its supply chain teams and departments. A well-structured supply chain is efficient and adaptable to changes.

    Signup and view all the flashcards

    S&OP Process

    A process within the supply chain, often focused on sales and operations planning, that helps to manage supply and demand.

    Signup and view all the flashcards

    Focus of successful supply chain

    A successful supply chain focuses on organizational design, positioning of individuals, processes, IT systems, internal communication, job design, KPIs, training & development, and leadership style.

    Signup and view all the flashcards

    Customer Focus

    The key to a successful supply chain is understanding a business's customers.

    Signup and view all the flashcards

    Logistics Strategies (Demand)

    Logistics strategies should be tailored to meet market demand and be more responsive to specific segments.,

    Signup and view all the flashcards

    Study Notes

    Logistics and Operations Management 2024

    • Course offered by Vienna University of Economics and Business, Institute for Transport and Logistics Management.
    • Instructor: Dr. Adel Aazami.
    • Course is divided into two groups (A and B).

    Course Schedule (Group A)

    • Session 1: Thursday, 10/03/24, 8:30 AM - 12:00 PM, TC.4.05
    • Session 2: Thursday, 10/10/24, 8:30 AM - 12:00 PM, TC.4.05, Group Assignment (Sustainable Logistics and Supply Chain, Internal Logistics Relationships)
    • Session 3: Thursday, 10/17/24, 8:30 AM - 12:00 PM, TC.4.05, (Internal Logistics Relationships, Supply Chain Relationships)
    • Session 4-9: Thursday sessions, topics include Operations Management (OM); room TC.4.05
    • Session 10: Monday, 12/09/24, 3:30 PM - 5:30 PM, Audimax, Final Exam.

    Course Schedule (Group B)

    • Session 1: Thursday, 10/03/24, 2:30 PM - 6:00 PM, TC.5.27
    • Session 2: Thursday, 10/10/24, 2:30 PM - 6:00 PM, TC.5.27, Group Assignment (Sustainable Logistics and Supply Chain, Internal Logistics Relationships)
    • Session 3: Thursday, 10/17/24, 2:30 PM - 6:00 PM, TC.5.27, (Internal Logistics Relationships, Supply Chain Relationships)
    • Session 4-9: Thursday sessions, topics include Operations Management (OM); room TC.5.27
    • Session 10: Monday, 12/09/24, 3:30 PM - 5:30 PM, Audimax, Final Exam.

    Agenda - Internal Logistics Relationships

    • Supply Chain Relationships
    • Dynamic Alignment
    • Managing Supply Chain Relationships
    • Performance Measurement (Balanced Scorecard, Strategic Profit Model)

    Agenda - Important Concepts

    • Risk: Disproportionate risk among channel members and the collaborative role of a member.
    • Power: Retailers' increasing power trend in supply chains, category dominance versus brand power, and leadership paradigms
    • Dependency: Extended supply chain relationships classified from limited, to contract, outsource, administered, alliance, and enterprise extension highlighting various dependency levels between partners.
    • Functional/Process Aggregation: This involved combining logistic functions into a single group (motivations and benefits detailed).

    Discussion Points

    • Overcoming the Great Divide
    • Role of digitalization
    • Difference between operational and strategic excellence in logistics management

    Additional Topics

    • The Great Divide: Reflects an organizational gap in achieving end-to-end integration (procurement and manufacturing vs. distribution and marketing).
    • Delivering Value through people: Traditional view of supply chains (Infrastructure and information systems) versus a balanced model (45/45/10 – human behavior, systems technology, and asset infrastructure). Key factors in successful supply chain (Organizational Design, Technology systems, Process, Internal Communication)
    • Successful supply chain components: Recruitment, Job Design, KPIs, and incentives, Training, and Leadership.

    Key Performance Metrics

    • Cost: Total logistics cost, percentage of sales volume, cost per unit.
    • Customer Service: Availability/Order Fill Rates, Operational Performance (average order cycle time, order cycle consistency, on-time delivery), Quality (accuracy of work activities, damage frequency), Productivity (units shipped/employee, units received/employee, equipment downtime)
    • Performance Measurement: Financial Assessment, Segmentation of data, operational assessment (metrics, customer accommodations, benchmarks).
    • The Balanced Scorecard: Aims to link business activities to overall financial/strategic goals.
    • Supply Chain Metrics: Comprehensive metrics, including cash-to-cash cycle time, on-shelf in-stock percentage, total supply chain cost, and supply chain response time.

    Financial Reporting Requirements

    • SOX (Sarbanes-Oxley Act) Compliance: Internal controls report, off-balance sheet liabilities, vendor-managed inventories, long-term purchase agreements, and slotting allowances
    • Cost-Revenue Analysis: Accounting deficiencies, Contribution analysis, net profit, and activity-based costing.
    • Strategic Profit Model (SPM): ROI (Return on Investment), RONW (Return on Net Worth), ROA (Return on Assets).
    • Applications of the Model.

    Additional Notes:

    • This notes summary covers the core topics of the lecture.
    • There are several charts and figures (not detailed here because not enough info is provided for a great summarisation). These provide a visual and analytical representation of data.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    LOM Session 3 WS2024 PDF

    Description

    This quiz covers key concepts from the Logistics and Operations Management course offered by the Vienna University of Economics and Business. It includes important topics such as sustainable logistics, supply chain relationships, and operations management strategies. Test your understanding of these vital subjects as presented by Dr. Adel Aazami.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser