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NEW QUESTION 74
Which of following statements best describes the relationship between order cycle time and inventory?
- A. The changes made to the order cycle has little/no impact on inventory levels
- B. The shorter the order cycle length, the less inventory is required to be held
- C. The longer the order cycle length, the less inventory is required to be held
- D. The shorter the order cycle length, the more inventory is required to be held
Answer: C
NEW QUESTION 75
The primary factor that reduces the need for companies to improve transportation sustainability is:
- A. decreased time to implement regulations.
- B. lower fuel prices.
- C. more efficient tractors.
- D. reduced packaging dimensions.
Answer: A
Explanation:
Explanation/Reference:
NEW QUESTION 76
In a retail firm's implementation of vendor-managed inventory (VMI), what trading partners are responsible for setting target inventory levels and making restocking decisions?
- A. Retail consumers and vendors
- B. Retail consumers and retailers
- C. Retailer and its suppliers
- D. Retailer and its buyers
Answer: C
NEW QUESTION 77
Which of the following outcomes is a potential advantage of operating an efficient reverse logistics process?
- A. Enables visibility throughout the supply chain
- B. Reduces transportation costs
- C. Provides competitive differentiation
- D. Improves the product life cycle
Answer: C
NEW QUESTION 78
Which of the following modes of transportation is characterized as having the highest fixed cost and lowest variable cost?
- A. Air
- B. Water
- C. Rail
- D. Pipeline
Answer: D
NEW QUESTION 79
A corporation is redesigning its warehouse and has decided to use a rack system that allows each level to be accessed individually by placing pallets on wheeled frames. The rack system that best meets this criteria is:
- A. drive-in.
- B. flow-through.
- C. double-deep.
- D. push-back.
Answer: A
NEW QUESTION 80
Which of the following inventory cost elements is the most difficult to quantify?
- A. Carrying cost
- B. Cost of reordering
- C. Shortage cost
- D. Unit cost
Answer: A
NEW QUESTION 81
A company is considering implementing collaborative planning, forecasting, and replenishment (CPFR).
Which of the following statements best reflects one of the objectives of CPFR?
- A. It replaces traditional forecasting methods with a shared single forecast among trading partners.
- B. It represents a sequence of business processes within the manufacturing environment.
- C. It represents a sequence of business processes between consumers and retailers.
- D. It replaces traditional inventory management procedures with a vendor-managed (VMI) system.
Answer: C
NEW QUESTION 82
Consignment inventory requires that manufacturers
- A. stock their products on retail stores shelves and wait for payment until consumers purchase the product.
- B. deliver their products to the consumer and payment from consumers is based on supply.
- C. stock their products on retail stores shelves and payment from consumers is based on forecast.
- D. deliver their products to the consumer and wait for payment until consumers requires to refill stock level.
Answer: A
NEW QUESTION 83
An operations manager is concerned that the order-to-cash cycle for their largest customer is too long The manager is referring to the time that elapses from when the company receives an order from the customer until the:
- A. warehouse is notified to ship the goods
- B. customer processes payment.
- C. company receives payment.
- D. customer receives that order in inventory
Answer: D
NEW QUESTION 84
A logistics manager has received a lot of customer complaints concerning damaged products. This represents which of the following customer service dimensions?
- A. Dependability
- B. Convenience
- C. Communication
- D. Time
Answer: B
NEW QUESTION 85
A company is considering implementing collaborative planning, forecasting, and replenishment (CPFR).
Which of the following statements best reflects one of the objectives of CPFR?
- A. It replaces traditional forecasting methods with a shared single forecast among trading partners.
- B. It represents a sequence of business processes within the manufacturing environment.
- C. It represents a sequence of business processes between consumers and retailers.
- D. It replaces traditional inventory management procedures with a vendor-managed inventory (VMI) system.
Answer: C
NEW QUESTION 86
When looking at on organization's logistics system, which of the following expenses is the single largest variable cost?
- A. Warehouse operation costs
- B. Inventory carrying costs
- C. Supply management costs
- D. transportation costs
Answer: B
NEW QUESTION 87
Which of the following terms refer to the contract leasing of an airplane where only the equipment, maintenance, and insurance are include?
- A. Damp lease
- B. Dry lease
- C. ACMI lease
- D. Wet lease
Answer: D
NEW QUESTION 88
A company calculating shipping volume in unit load device containers is focusing on which mode of transportation'?
- A. Trucking
- B. Ocean shipping
- C. Barges
- D. Air freight
Answer: D
NEW QUESTION 89
A company would like to eliminate unnecessary returns and/or minimize handling. It designs a process to check and screen merchandise at the entry point into the organization. This is an example of:
- A. avoidance
- B. gatekeeping
- C. defect reduction
- D. asset recovery
Answer: B
NEW QUESTION 90
Which Incoterm applies only to ocean transportation where the exporter is responsible to bring the goods to the port?
- A. Free on board (FOB)
- B. Free alongside ship (FAS)
- C. Delivered at place (DAP)
- D. Ex works (EXW)
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION 91
Which of the following groups was formed for the purpose of eliminating the trade barriers among its members?
- A. European Union (EU)
- B. United Nations (UN)
- C. Organization of Petroleum Exporting Countries (OPEC)
- D. North Atlantic Treaty Organization (NATO)
Answer: B
NEW QUESTION 92
Which of the following items undermines the attempts to simplify transportation pricing?
- A. Class rate
- B. Incentive rate
- C. rate-basis numbers
- D. Commodity rate
Answer: C
NEW QUESTION 93
In a retail firm's implementation of vendor-managed inventory (VMI), what trading partners are responsible for setting target inventory levels and making restocking decisions?
- A. Retail consumers and vendors
- B. Retail consumers and retailers
- C. Retailer and its suppliers
- D. Retailer and its buyers
Answer: C
Explanation:
Explanation
NEW QUESTION 94
A logistics manager is developing a supply chain risk management plan incorporating contingency plans for alternatives to transportation failures. Which of the following factors best represents this approach?
- A. Mitigation
- B. Redundancy
- C. Acceptance
- D. Avoidance
Answer: D
NEW QUESTION 95
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