Logistics and Supply Chain Management Lecture Overview
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Questions and Answers

Why do firms need to be responsive to external opportunities and threats in a fluctuating business environment?

  • To maintain their competitive edge in the global market (correct)
  • To avoid regulatory compliance issues
  • To reduce the cost of logistics operations
  • To streamline internal communication processes

    • What is one of the major external drivers shaping the business landscape mentioned in the text?

  • Movement towards an integrated global economy (correct)
  • Decrease in global competition
  • Increased emphasis on local markets
  • Expansion of traditional political boundaries

    • How has the compression of time and distance affected businesses?

  • Made businesses operate within a more intense economic environment (correct)
  • Eliminated the need for competitive advantage
  • Led to an increase in traditional political boundaries
  • Reduced the need for supply chain management

    • Why is it important for businesses to function at a global arena according to the text?

    <p>To remain competitive and survive in the current business landscape</p> Signup and view all the answers

    What is the implication of firms needing to respond to external opportunities and threats?

    <p>Maintenance of competitive edge and survival</p> Signup and view all the answers

    How do external opportunities and threats impact firms as mentioned in the text?

    <p>By influencing their competitiveness and survival</p> Signup and view all the answers

    Which of the following is a key factor empowering consumers through the internet?

    <p>All of the above</p> Signup and view all the answers

    What pressure do empowered consumers place on supply chains and logistics systems?

    <p>Pressure to improve efficiency and flexibility</p> Signup and view all the answers

    Which of the following tools enable consumers and firms to gather timely information?

    <p>Search engines like Google, Yahoo, and Bing</p> Signup and view all the answers

    What is the primary focus of military logistics?

    <p>Getting the right support to the right place at the right time</p> Signup and view all the answers

    Which of the following best describes the role of logistics management?

    <p>Coordinating and optimizing all logistics activities</p> Signup and view all the answers

    According to the Council of Supply Chain Management Professionals (CSCMP), what does logistics management involve?

    <p>All of the above</p> Signup and view all the answers

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