Podcast
Questions and Answers
What factors should be considered when selecting mode of shipment, carrier, and routing?
What factors should be considered when selecting mode of shipment, carrier, and routing?
- Reliability and service quality, available services, and handling of claims (correct)
- Type of item being shipped and possibility of damage
- Carrier financial situation and handling of claims
- Required delivery time and cost
In the context of logistics services, what does a third party logistics (3PL) services provider do?
In the context of logistics services, what does a third party logistics (3PL) services provider do?
- Handles physical movement of goods, but does not perform administrative tasks
- Handles only administrative tasks such as auditing and billing
- Is a separate entity that provides management of inbound and outbound goods (correct)
- Is a separate company from the buyer’s and supplier's organizations
Who are the parties involved in the logistics services according to the text?
Who are the parties involved in the logistics services according to the text?
- The buyer’s organization and supplier's organization
- Only the buying organization
- The supplier's organization and logistics services provider
- The buyer’s organization, supplier's organization, and logistics services provider (correct)
What range of services are offered by logistics services providers?
What range of services are offered by logistics services providers?
What is a freight bill in the context of logistics?
What is a freight bill in the context of logistics?
Why is it important to consider the carrier financial situation when selecting a mode of shipment?
Why is it important to consider the carrier financial situation when selecting a mode of shipment?
What motivates the supplier to be efficient in a buyer-seller agreement?
What motivates the supplier to be efficient in a buyer-seller agreement?
When might identical prices received from various sources be suspect?
When might identical prices received from various sources be suspect?
Why might receiving identical bids from various sources indicate collusion?
Why might receiving identical bids from various sources indicate collusion?
When do deviations from uniform prices become an industrywide concern?
When do deviations from uniform prices become an industrywide concern?
What do items fixed or variable by the job or by time period get called as?
What do items fixed or variable by the job or by time period get called as?
What should always make the buyer suspicious when receiving identical prices from various sources?
What should always make the buyer suspicious when receiving identical prices from various sources?
What is required of public purchasers when awarding contracts to bidders?
What is required of public purchasers when awarding contracts to bidders?
What distinguishes a responsible bidder from a responsive bidder?
What distinguishes a responsible bidder from a responsive bidder?
What does activity-based costing attempt to correct in product costing?
What does activity-based costing attempt to correct in product costing?
What is the primary focus of activity-based costing?
What is the primary focus of activity-based costing?
How does activity-based costing differ from traditional costing methods?
How does activity-based costing differ from traditional costing methods?
In contract awarding, what role do minority-owned sub-contractors play?
In contract awarding, what role do minority-owned sub-contractors play?
What is a common risk avoidance strategy that involves taking an offsetting position in a related security?
What is a common risk avoidance strategy that involves taking an offsetting position in a related security?
Why does a buyer specify that supplier references should be of similar size and objectives?
Why does a buyer specify that supplier references should be of similar size and objectives?
What is the primary focus of sustainability?
What is the primary focus of sustainability?
Why are supplier references from similar size and objectives considered more useful?
Why are supplier references from similar size and objectives considered more useful?
Which of the following is NOT a risk avoidance strategy mentioned in the text?
Which of the following is NOT a risk avoidance strategy mentioned in the text?
What does hedging involve as a risk avoidance strategy?
What does hedging involve as a risk avoidance strategy?
If a party is dissatisfied with a relationship, what type of tools are they more inclined to use according to the text?
If a party is dissatisfied with a relationship, what type of tools are they more inclined to use according to the text?
What category does attempting to move in a buyer-supplier relationship fall under according to the text?
What category does attempting to move in a buyer-supplier relationship fall under according to the text?
In a strong relationship, what are satisfied parties more likely to do to resolve problems?
In a strong relationship, what are satisfied parties more likely to do to resolve problems?
What do suppliers who anticipate operational and strategic needs of purchasers and exceed them called in the text?
What do suppliers who anticipate operational and strategic needs of purchasers and exceed them called in the text?
If a buyer perceives a relationship as desirable but problematic, what action are they most likely to take?
If a buyer perceives a relationship as desirable but problematic, what action are they most likely to take?
What effect can attempts to move in a relationship have on its stability?
What effect can attempts to move in a relationship have on its stability?
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