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Contemporary Logistics, Murphy, 2018, 12th Edition - Quiz Answer - Chapter 1

MBA Logistics and SCM

LOGISTICS, GLOBAL LOGISTICS, SUPPLY CHAIN MANAGEMENT 2016-2018

Test Bank, Discussion, Case study guides and Online Resources (2016,2018)

Logistis, Global Logistics, International Logistics, Supply Chain Management

CHAPTER 1: AN OVERVIEW OF LOGISTICS

TEST BANK

CHAPTER 1: AN OVERVIEW OF LOGISTICS

Multiple Choice Questions (correct answers are bolded)

 

  1. Logistics clearly contributes to ___________ and ___________ utility.

 

  1. time; place
  2. form; time
  3. place; form
  4. possession; time

 

[LO 1.1: To discuss the economic impacts of logistics; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

  1. ___________ utility refers to the value or usefulness that comes from a customer being able to take possession of a product.

 

  1. Time
  2. Place
  3. Form
  4. Possession

 

[LO 1.1: To discuss the economic impacts of logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. ___________ utility refers to having products available where they are needed by customers.

 

  1. Possession
  2. Time
  3. Place
  4. Form

 

[LO 1.1: To discuss the economic impacts of logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. All of the following are types of economic utility except:

 

 

[LO 1.1:  To discuss the economic impacts of logistics; Moderate; Synthesis; AACSB Category 3:  Analytical thinking]

 

  1. “How well a company does what it says it’s going to do” represents ___________.

 

  1. efficiency
  2. productivity
  3. quality
  4. effectiveness

 

[LO 1.2:  To define what logistics is; Easy; Concept; AASCB Category 3:  Analytical thinking]

 

  1. What concept refers to “how well company resources are used to achieve what a company promises it can do”?

 

  1. efficiency
  2. productivity
  3. reengineering
  4. effectiveness

 

[LO 1.2:  To define what logistics is; Easy; Concept; AASCB Category 3:  Analytical thinking]

 

  1. Every customer getting the same type and level of logistics service refers to ___________.

 

  1. tailored logistics
  2. mass logistics
  3. effectiveness
  4. efficiency

 

[LO 1.2:  To define what logistics is; Easy; Concept; AASCB Category 3:  Analytical thinking]

 

  1. Which of the following is not a reason for the increased importance of logistics?

 

  1. growing power of manufacturers
  2. reduction in economic regulation
  3. globalization of trade
  4. technological advances

 

[LO 1.3:  To analyze the increased importance of logistics; Moderate; Synthesis; AACSB Category 3:  Analytical thinking]

 

  1. Widespread reductions in economic regulation of U.S. transportation carriers occurred in ___________.

 

  1. the 1960s and 1970s
  2. the 1970s and 1980s
  3. the 1980s and 1990s
  4. only the 1990s

 

[LO 1:3:  To analyze the increased importance of logistics; Easy; Application; AACSB Category 3:  Analytical thinking]

 

  1. The ___________ concept suggests that the customer desires a product offering that is highly tailored to the customer’s exact preferences.

 

  1. market demassification
  2. relationship marketing
  3. customized customer
  4. niche marketing

 

[LO 1.3:  To analyze the increased importance of logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Approximately ___________ percent of U.S. families with children reports that both parents work.

 

  1. 70
  2. 60
  3. 50
  4. 40

 

[LO 1.3:  To analyze the increased importance of logistics; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

  1. ___________ refers to the removal of intermediaries between producer and consumer.

 

  1. Direct channel
  2. Market demassification
  3. Consolidation
  4. Disintermediation

 

[LO 1.3:  To analyze the increased importance of logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. ___________ are stores with large amounts of both floor space and product for sale.

 

  1. Mass merchandisers
  2. Power retailers
  3. Big-box retailers
  4. Do-it-yourself (DIY) retailers

 

[LO 1.3:  To analyze the increased importance of logistics; Easy; Application; AACSB Category 3:  Analytical thinking]

 

  1. An example of ___________ involves ordering something online and then picking it up at a bricks-and-mortar store.

 

  1. supply chain management
  2. finance
  3. omnichannel retailing
  4. big-box retailing

 

[LO 1.3:  To analyze the increased importance of logistics; Easy; Application; AACSB Category 3:  Analytical thinking]

 

  1. World trade has grown at an average annual rate of approximately ___________ percent since 1990.

 

  1. 6
  2. 5
  3. 4
  4. 3

 

[LO 1.3:  To analyze the increased importance of logistics; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

  1. The ___________ approach indicates that a company’s objectives can be realized by recognizing the mutual interdependence of major functional areas.

 

  1. systems
  2. supply chain
  3. physical distribution
  4. materials management

 

[LO 1.4:  To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. The movement and storage of materials into a firm refers to ___________.

 

  1. physical distribution
  2. materials management
  3. supply chain management
  4. materials handling

 

[LO 1.4:  To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Which concept refers to the storage of finished product and movement to the customer?

 

  1. supply chain management
  2. business logistics
  3. physical distribution
  4. materials management

 

[LO 1.4:  To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Logistics managers use the ___________ approach to coordinate materials management and physical distribution in a cost-efficient manner.

 

  1. total cost
  2. supply chain
  3. balanced
  4. intrafunctional logistics

 

[LO 1.4:  To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. A cost trade-off is a situation where:

 

  1. all costs react according to their individual degrees of inflation in the economy.
  2. all costs are reflected as a percentage variation from standard costs.
  3. some costs increase and some costs decrease.
  4. some costs are eliminated by efficient management controls.

 

[LO 1.4:  To discuss the systems and total cost approaches to logistics; Moderate; Synthesis; AACSB Category 3:  Analytical thinking]

 

  1. The ___________ department often measures inventory in terms of its cost or value in dollars whereas ___________ tends to measure inventory in terms of units.

 

  1. marketing; logistics
  2. finance; production
  3. marketing; production
  4. finance; logistics

 

[LO 1.5:  To expose you to logistical relationships within the firm; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

  1. A common interface between production and logistics involves:

 

  1. the types of materials handling equipment.
  2. the length of production runs.
  3. the use of plastic versus wood pallets.
  4. the mode of transportation.

 

[LO 1.5:  To expose you to logistical relationships within the firm; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

  1. ___________ refers to the delay of value-added activities such as assembly, production, and packaging to the latest possible time.

 

  1. Building block
  2. Lean manufacturing
  3. Deferral
  4. Postponement

 

[LO 1.5:  To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. The four basic components of the marketing mix include all of the following except:

 

  1. price.
  2. production.
  3. place.
  4. promotion.

 

[LO 1.5:  To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Landed costs refer to:

 

  1. the costs of a product shipped via surface transport.
  2. the costs of a product that is quoted cash on delivery (COD).
  3. the costs of a prepaid shipment.
  4. a price that includes both the cost of the product plus transportation to the buyer.

 

[LO 1.5:  To expose you to logistical relationships within the firm; Moderate; Concept; AACSB Category 3:  Analytical thinking]

 

  1. ___________ refers to being out of an item at the same time there is demand for it.

 

  1. Postponement
  2. Tailored logistics
  3. Stockout
  4. Supplier indifference

 

[LO 1.5:  To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Enticing customers with the promise of a low-priced product, only to find that it is unavailable, but having a higher-priced substitute product readily available refers to ___________.

 

  1. loss-leader marketing
  2. unfair trade practices
  3. bait-and-switch tactics
  4. price lining

 

[LO 1.5:  To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Which of the following is not part of the marketing channel?

 

  1. logistics channel
  2. negotiations channel
  3. management channel
  4. finance channel

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Application; AACSB Category 3:  Analytical thinking]

           

  1. The ownership channel consists of all parties except:

 

  1. customers.
  2. manufacturers.
  3. wholesalers.
  4. retailers.

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Which channel covers the movement of title to the goods?

 

  1. promotions
  2. logistics
  3. finance
  4. ownership

 

[LO 1.6:  To introduce you to marketing channels; Easy; Concept; AACSB Category 3:  Analytical thinking]

 

  1. ___________ is bringing together similar stocks from different sources.

 

  1. Accumulating
  2. Assorting
  3. Auditing
  4. Allocating

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Concept; AACSB Category 3:  Analytical thinking]

 

  1. ___________ refers to breaking a homogeneous supply into smaller lots.

 

  1. Sorting out
  2. Allocating
  3. Accumulating
  4. Assorting

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Concept; AACSB Category 3:  Analytical thinking]

 

  1. Channel intermediaries:

 

  1. assume temporary ownership of the goods.
  2. tend to lack focus.
  3. fill niches.
  4. tend to disappear as the market becomes organized.

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Synthesis; AACSB Category 3:  Analytical thinking]

 

  1. Brokers are intermediaries that are commonly associated with the ___________ channel.

 

  1. promotions
  2. finance
  3. ownership
  4. negotiation

 

[LO 1.6:  To introduce you to marketing channels; Moderate; Concept; AACSB Category 3:  Analytical thinking]

 

  1. The costliest logistics activity in many firms is ___________.

 

  1. industrial packaging
  2. transportation management
  3. order management
  4. warehousing management

 

[LO 1.7:  To provide a brief overview of activities in the logistics channel; Moderate; Application; AACSB Category 3:  Analytical thinking]

 

True-False Questions

 

  1. Absolute and relative logistics costs in relation to gross domestic product (GDP) vary from country to country. (True) [LO 1.1: To discuss the economic impacts of logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The four general types of economic utility are production, possession, time, and place. (False) [LO 1.1: To discuss the economic impacts of logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Logistics clearly contributes to time and form utility. (False) [LO 1.1: To discuss the economic impacts of logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The current definition of logistics, as promulgated by the Council of Supply Chain Management Professionals (CSCMP), suggests that logistics is part of supply chain management. (True) [LO 1.2: To define what logistics is; Easy; application; AASCB Category 3: Analytical thinking]

 

  1. Logistics is only concerned with forward flows—that is, those directed toward the point of consumption. (False) [LO 1.2: Define what logistics is; Easy; Application; AASCB Category 3: Analytical thinking]

 

  1. The purpose of logistics is to maximize customer service. (False) [LO 1.2: To define what logistics is; Easy; Application; AASCB Category 3: Analytical thinking]

 

  1. In mass logistics, groups of customers with similar logistical needs and wants are provided with logistics services appropriate to those wants and needs. (False) [LO 1.2: To define what logistics is; Easy; Concept; AASCB Category 3: Analytical thinking]

 

  1. Humanitarian logistics represents an emerging application of logistics to not-for-profit organizations. (True) [LO 1.2: To define what logistics is; Easy; Application; AASCB Category 3: Analytical thinking]

 

  1. Reductions in economic regulation allowed individual transportation companies flexibility in pricing and service. (True) [LO 1.3: To analyze the increased importance of logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Market demassification suggests that the customer desires a product offering that is highly tailored to his exact preference. (False) [LO 1.3: To analyze the increased importance of logistics; Moderate; Concept; AACSB Category 3: Analytical thinking]

 

  1. Disintermediation refers to the removal of intermediaries between producer and consumer. (True) [LO 1.3: To analyze the increased importance of logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

 

  1. Superior logistics is an essential component of corporate strategies for many big-box retailers. (True) [LO 1.3: To analyze the increased importance of logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Logistics has played a minor role in the growth of global trade. (False) [LO 1.3: To analyze the increased importance of logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The systems approach indicates that a company’s objectives can be realized by recognizing the mutual interdependence of the major functional areas of a firm. (True) [LO 1.4: To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. A stock-keeping unit (SKU) refers to a line item of inventory offered for sale by a company. (True) [LO 1.4: To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Physical distribution is synonymous with materials management. (False) [LO 1.4: To discuss the systems and total cost approaches to logistics; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Interfunctional logistics attempts to coordinate materials management and physical distribution in a cost-efficient manner that supports an organization’s customer service objectives. (False) [LO 1.4: To discuss the systems and total cost approaches to logistics; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. The key to the total cost approach is that all relevant cost items are considered simultaneously when making a decision. (True) [LO 1.4: To discuss the systems and total cost approaches to logistics; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The finance department tends to measure inventory in terms of units whereas logistics tends to measure inventory in terms of its cost or value. (False) [LO 1.5: Logistical relationships within the firm; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Long production runs sometimes result in excessive inventory of products with limited demand for them. (True) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Postponement is the delay of value-added activities such as assembly, production, and packaging to the latest possible time. (True) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Logistics offers many companies an important route for creating marketing superiority. (True) [LO 1.5: To expose you to logistical relationships within the firm; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. Dual distribution refers to an alliance that allows customers to purchase products from two or more name-brand retailers at one store location. (False) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Landed costs refer to the price of a product at its source. (False) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Stockouts refer to a situation in which a company is out of an item at the same time that there is demand for that item. (True) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. Logistical decisions tend not to be impacted by marketers’ growing emphasis on offering sustainable products. (False) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Many promotional decisions, such as pricing campaigns that lower the price of certain items, require close coordination between marketing and logistics. (True) [LO 1.5: To expose you to logistical relationships within the firm; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The ownership channel is the one where buy and sell agreements are reached. (False) [LO 1.6: To introduce you to marketing channels; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. The financing channel handles a company’s credit and payment for goods. (True) [LO 1.6: To introduce you to marketing channels; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. There is no link between the promotions and logistics channels. (False) [LO 1.6: To introduce you to marketing channels; Moderate; Synthesis; AACSB Category 3: Analytical thinking]

 

  1. The most significant contribution that the logistics channel makes to the overall channel process is the sorting function. (True) [LO 1.6: To introduce you to marketing channels; Hard; Application; AACSB Category 3: Analytical thinking]

 

  1. The sorting function has four steps. (True) [LO 1.6: To introduce you to marketing channels; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. The sorting function takes place between retailers and the consumer. (False) [LO 1.6: To introduce you to marketing channels; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Intermediaries assume ownership of goods while those goods are in the marketing channel. (False) [LO 1.6: To introduce you to marketing channels; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. A broker is a type of intermediary often associated with the negotiations channel. (True) [LO 1.6: To introduce you to marketing channels; Easy; Concept; AACSB Category 3: Analytical thinking]

 

  1. A commonly used logistical intermediary is the freight forwarder. (True) [LO 1.6: To introduce you to marketing channels; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. Demand forecasting is not considered to be a logistics-related activity. (False) [LO 1.7: To provide a brief overview of activities in the logistics channel; Easy; Application; AACSB Category 3: Analytical thinking]

 

  1. Packaging can have both a marketing and logistical dimension. (True) [LO 1.7: To provide a brief overview of activities in the logistics channel; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. Warehousing represents the costliest logistics activity in many organizations. (False) [LO 1.7: To provide a brief overview of activities in the logistics channel; Moderate; Application; AACSB Category 3: Analytical thinking]

 

  1. The job market for logisticians and supply chain managers continues to be strong at the undergraduate, but not the MBA, level. (False) [LO 1.8: To familiarize you with logistics careers; Easy; Application; AACSB Category 3: Analytical thinking]

 

 

 

 

 

 

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Free Online LOGISTICS, GLOBAL LOGISTICS AND INTERNATIONAL LOGISTICS MANAGEMENT

Learning marterial and resources for courses in:

1. See full list of videos: Link

2. Free Logistics, Global Logistics, International Logistics - 2016 Ebooks (free download)

GLOBAL LOGISTICS MANAGEMENT, A Competitive Advantage for the 21st Century, 2nd Edition, 2006, Kent N. Gourdin - Link download free 

INTERNATIONAL LOGISTICS AND SUPPLY MANAGEMENT, Allan Carrol, 2016 - Link download free

Logistics & Supply Chain Management, 4th Edition, 2011, Martin Christopher, Prentice Hall - Link download free

Logistics Management, 2012, David B. Grant, Prentice Hall - Link download free

The Supply Chain Management Casebook, Comprehensive Coverage and Best Practices in SCM, 2013, Chuck Munson Link download free

------
Logistics & Supply Chain Management, 5th Edition, 2016, Martin Christopher, Prentice Hall
Contemporary Logistics, 11th Edition, 2015, Paul R. Murphy, A. Michael Knemeyer
Production and Logistics in Meeting, Expositions, Events and Conventions, 2015, George G. Fenich
Supply Chain and Logistics Management Made Easy: Methods and Applications for Planning, Operations, Integration, Control and Improvement, and Network Design, 2015, Paul A. Myerson

-----
The world merchant fleet in 2014 Statistics from Equasis - Link download free
Review of MaRitime Transport, 2015 - Link download free

3. Website and All articles about Logistics, Global Logistics, International Logistics and Supply Chain Management

http://top20mba.com 

4. Case Study Guides

5. Link to power point slides (Free Download)

Contemporary Logistics, 11th Edition, 2015, Paul R. Murphy, A. Michael Knemeyer

Murphy - Link download free

Production and Logistics in Meeting, Expositions, Events and Conventions, 2015, George G. Fenich

Fenich  - Link download free

6. Test Bank - Free download

Murphy 2015 - link

Fenich - link 

Murphy 2016 - link 

 

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2018

Contemporary Logistics, 12th Edition, Paul R. Murphy, 2018
Part I: An Overview of Logistics
1. An Overview of Logistics
2. Logistics and Information Technology
3. Strategic and Financial Logistics
4. Organizational and Managerial Issues in Logistics
Part II: Supply Chain Management
5. The Supply Chain Management Concept
6. Procurement
Part III: Elements of Logistics Systems
7. Demand Management, Ordered Management, and Customer Service
8. Inventory Management
9. Facility Location
10. Warehousing Management
11. Packaging and Materials Handling
12. Transportation
13. Transportation Management
14. International Logistics

For Test Bankz, Quiz Answers and Case study Guides, email to: This email address is being protected from spambots. You need JavaScript enabled to view it.

All Free downloads - LINK

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