Page 1 out of 11. Viewing questions 1-15 out of 155
Question 1
In the total cost concept, which of the following logistics costs should be considered when selecting a transportation mode?
A.
Import duty costs
B.
Receiving inspection costs
C.
Inventory purchasing costs
D.
Inventory carrying costs
Answer:
D
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Question 2
Which of the following statements best describes an example of advance ship notice?
A.
An electronic data interchange communication indicating that an order has left the port of loading
B.
A person who handles international shipping documentation and transportation requirements
C.
A fee for material held at port longer than the standard unloading time
D.
A listing of the items included in an overseas shipment
Answer:
A
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Question 3
As a company moves from domestic to global distribution, it becomes increasingly critical to control which of the following distribution costs?
A.
Warehousing
B.
Material handling
C.
Protective packaging
D.
Transportation
Answer:
D
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Question 4
Which of the following factors is a primary consideration when contracting with a supplier?
A.
Inventory levels
B.
Order cost
C.
Quantity discounts
D.
Product quality
Answer:
D
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Question 5
Which of the following statements describes a primary function of distribution inventory?
A.
It protects against random changes in supply, demand, or lead time.
B.
It helps to smooth production in periods of changing demand.
C.
It is built to take advantage of quantity discounts.
D.
It allows goods to be placed in close proximity to the customer.
Answer:
D
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Question 6
Which method of record audit is concerned with the total value of inventory?
A.
Weight counts
B.
Cycle counts
C.
Physical inventory
D.
Sampling records
Answer:
C
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Question 7
Which of the following functions of inventory is most likely to be included in a manufacturer's finished goods?
A.
Rework
B.
Work in process
C.
Anticipation
D.
Maintenance, repair, and operations supplies (MRO)
Answer:
C
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Question 8
What is the order point when demand is 120 units per week, the lead time is 2 weeks, and safety stock is 60 units?
A.
180
B.
240
C.
300
D.
360
Answer:
C
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Question 9
The complete supply chain dedicated to the flow of products for returns, repair and remanufacturing is:
A.
reverse auction.
B.
reverse engineering.
C.
reverse flow scheduling.
D.
reverse logistics.
Answer:
D
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Question 10
Knowing average daily consumption and on hand inventory, a company can calculate:
A.
storage cost.
B.
days of supply.
C.
annual usage rate.
D.
annual cost of goods sold.
Answer:
B
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Question 11
Which of the following terms represents a complete supply chain dedicated to the flow of products and materials for the purpose of returns, repair, remanufacture, or recycling?
A.
Responsible landfill
B.
Remanufacturing resource planning
C.
Reverse logistics
D.
Global distribution
Answer:
C
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Question 12
Which of the following processes is concerned with the change of ownership of goods and services?
A.
Distribution channel
B.
Supply chain
C.
Transaction channel
D.
Value chain
Answer:
C
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Question 13
Which of the following processes is concerned with the transfer or delivery of goods or services?
A.
Distribution channel
B.
Supply chain
C.
Transaction channel
D.
Value chain
Answer:
A
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Question 14
Which of the following actions is an example of a company expanding its customer service offering?
A.
Adding a distribution center
B.
Increasing work-in-process (WIP) inventory
C.
Implementing statistical process control (SPC)
D.
Decreasing manufacturing lot sizes
Answer:
A
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Question 15
Which of the following activities positions goods or services closer to the customer?