Logistics Management and Globalization Quiz

1970s

retailers

cost

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

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

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

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

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

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

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

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

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

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

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

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

<p>value creation</p> Signup and view all the answers

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<p>resource(s)</p> Signup and view all the answers

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

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

<p>item(s)</p> Signup and view all the answers

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

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

<p>on time</p> Signup and view all the answers

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

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

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

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

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

The process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from point of origin to point of consumption for the purpose of meeting customer requirements.

The deregulation of the transportation industry in the late 1970s and 1980s in the USA opened up competition and provided more options for organizations. This increased focus on efficiency and productivity within transportation.

The shift in power from manufacturers to retailers and distributors led to increased competition, forcing manufacturers to focus on logistics to streamline operations and maintain market share.

Rising interest rates and energy costs in the 1970s made logistics a major cost driver. Globalization further intensified this, as companies needed to streamline their supply chains and compete with international players.

Domestic companies needed to differentiate themselves from international competitors by offering better, more reliable, and responsive service in their local markets.

As companies expanded their operations offshore, their supply chains became more complex and costly, requiring greater emphasis on optimized logistics management.

Supply chain management is the process of coordinating all activities from sourcing raw materials to delivering finished products to consumers, involving internal departments and external partners.

Supply chain management aims to optimize value for ALL parties involved, from suppliers to customers, prioritizing cost-effectiveness and customer satisfaction.

Logistics focuses on internal cost reduction by efficiently managing resources within the company.

Supply chain management involves integrating external relationships with suppliers and customers to create a high-performing business model.

Logistics focuses on internal integration of activities like procurement, warehousing, and transportation within a company.

Supply chain management encompasses the entire chain, from raw materials to finished goods, including all activities and players involved.

Logistics focuses on managing the flow of goods within a company, including inbound, in-process, and outbound logistics.

The foundation of a supply chain, representing individual units responsible for logistical tasks.

Distinct operational tasks performed by various entities in a supply chain to fulfill logistical needs.

A type of performance cycle focused on delivering customer orders and ensuring product availability.

Actions undertaken to attract and retain customers, including advertising and sales activities.

Activities involved in physically fulfilling customer orders, such as order processing and delivery.

The activities involved in procuring materials, components, and resources for the supply chain.

Activities focused on supporting manufacturing processes, including production planning and resource allocation.

The degree to which an individual firm can control a specific type of performance cycle.

Cost savings in logistics have a greater impact on profits than increasing sales revenue by the same amount. This is because a $1 increase in sales doesn't translate directly to a $1 profit due to costs like production and sales expenses.

The ability of companies to efficiently manage the movement, storage, and flow of goods and materials. This includes transportation, warehousing, inventory, and order fulfilment.

Advanced information technology (IT) systems like MRP (Materials Requirement Planning) and JIT (Just-in-Time) help organizations track and manage materials, production, and inventory more effectively. This optimizes flow and reduces waste.

Involves planning and managing all activities in a supply chain, from sourcing raw materials to delivering final products to customers. This includes logistics, procurement, and working with partners like suppliers and distributors.

Activities managed by logistics include inbound and outbound transportation, warehouse management, materials handling, order fulfilment, network design, inventory control, and supply-demand planning.

Supply chain management goes beyond logistics by encompassing procurement, conversion, and logistics. It involves coordinating and collaborating with all partners in the supply chain, from suppliers to customers.

Companies can use third-party logistics providers (3PLs) to handle tasks like transportation and warehousing. This helps them focus on their core business while benefiting from the expertise of specialized providers.

Supply chain management integrates supply and demand management across different companies. This helps ensure that the right products get to the right place at the right time.

The ratio of resource output to resource consumption.

The ability to accurately measure and track inputs and outputs in a logistics system.

Challenges in measuring logistics productivity can arise when outputs are hard to quantify, inputs are difficult to match to outputs, input and output mix constantly changes, or data is unavailable.

Common measures include units shipped per employee, labor dollar, and labor hour.

Common measures include units received, picked, and/or stored per employee, dollar, or hour.

A measurement of the accuracy and reliability of logistics activities, often expressed as a percentage of correct tasks.

Logistics quality is often assessed through metrics like order entry accuracy, warehouse picking accuracy, and document preparation accuracy.

Overall logistics quality performance can be measured in various ways, including tracking metrics like on-time delivery, order fulfillment rate, and customer satisfaction.

The time it takes to fulfill an order, from when it's placed to when it's delivered.

Ensuring an order arrives by the promised date, is complete, and in good condition.

The ease of placing an order and getting answers to questions.

The ability to adapt to changing customer needs, like offering different delivery options.

A set of key elements that companies prioritize to meet customer expectations. Examples include on-time delivery, order accuracy, and quality.

A six-step plan to understand customer service needs and design a logistics operation to meet them.

Discovering which elements of service are most important to customers. Methods include surveys and interviews.

Creating a survey questionnaire to gather feedback from customers about their service priorities.