Logistics and Supply Chain Management
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Questions and Answers

What type of utility is created by making a product available at the right time?

  • Possession utility
  • Time utility (correct)
  • Place utility
  • Form utility

    • Which factor affects the cost and importance of logistics due to the willingness of consumers to substitute a product with a similar one?

  • Susceptibility to damage
  • Product relationships
  • Substitutability (correct)
  • Spatial relationships

    • What type of analysis examines a logistics system over a long time period or range of output?

  • Long run / dynamic analysis (correct)
  • Short run / static analysis
  • Cost-benefit analysis
  • Supply chain optimization

    • What is the term for the value added to a product by making it available in the right quantity?

    <p>Quantity utility</p> Signup and view all the answers

    What type of equipment may be required for special handling of products?

    <p>Refrigeration units</p> Signup and view all the answers

    Which type of analysis involves analyzing costs for a specific point in time or level of production?

    <p>Short run / static analysis</p> Signup and view all the answers

    What is the main benefit of classifying logistics into materials management and physical distribution?

    <p>It allows for close coordination between materials management and physical distribution</p> Signup and view all the answers

    What is the primary advantage of considering logistics activities as cost centers?

    <p>It enables tradeoffs between different logistics activities</p> Signup and view all the answers

    What is the potential outcome of changing the mode of transportation from rail to motor?

    <p>Faster, more reliable transit times and lower inventory costs</p> Signup and view all the answers

    What is a key aspect of logistics systems that can vary enormously?

    <p>Complexity</p> Signup and view all the answers

    What is the primary focus of materials management?

    <p>Raw materials</p> Signup and view all the answers

    What is the term for the movement and storage of finished goods?

    <p>Physical Distribution</p> Signup and view all the answers

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