12 Questions
What type of utility is created by making a product available at the right time?
Time utility
Which factor affects the cost and importance of logistics due to the willingness of consumers to substitute a product with a similar one?
Substitutability
What type of analysis examines a logistics system over a long time period or range of output?
Long run / dynamic analysis
What is the term for the value added to a product by making it available in the right quantity?
Quantity utility
What type of equipment may be required for special handling of products?
Refrigeration units
Which type of analysis involves analyzing costs for a specific point in time or level of production?
Short run / static analysis
What is the main benefit of classifying logistics into materials management and physical distribution?
It allows for close coordination between materials management and physical distribution
What is the primary advantage of considering logistics activities as cost centers?
It enables tradeoffs between different logistics activities
What is the potential outcome of changing the mode of transportation from rail to motor?
Faster, more reliable transit times and lower inventory costs
What is a key aspect of logistics systems that can vary enormously?
Complexity
What is the primary focus of materials management?
Raw materials
What is the term for the movement and storage of finished goods?
Physical Distribution
Test your knowledge on the importance of logistics and supply chain management, including value-added roles, factors affecting costs, and techniques of logistics system analysis. Explore the different utilities of logistics and gain a deeper understanding of the field.
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