Exam (elaborations)
SCM 303 Exam 3 MSU FS
- Course
- Institution
SCM 303 Exam 3 MSU FS ...
[Show more]
Content preview
SCM 303 Exam 3 MSU FS 2025-2026Logistics definition - ANSWER planning, implementing, and controlling the efficient,
effective flow and storage of goods, services, and related information from point of
origin to point of consumption
types of logistics - ANSWER forward and reverse
military roots of logistics - ANSWER Alexander the Great (330 BC) i.e. campaign timing
around local harvest, soldiers carry own provisions, marches near waterways, etc.
Transportation: Steam power - ANSWER Ships and Railroads (1800s)
Transportation: Internal combustion engines - ANSWER Trucks and Planes (1900s)
Communications: Electrical born in. - ANSWER mid 1800s
Communications: Digital born in. - ANSWER 1990s
Logistics accounts for approximately __% of the US GDP - ANSWER 10
Over $______ per year spent on logistics - ANSWER $1 trillion
Some industries could obtain productivity improvements of _______% by focusing on
logistics - ANSWER 20-35%
Logistics accounts for __________ jobs and __% of the total labor force - ANSWER 15
,million, 14%
7 "Rights" of Logistics - ANSWER Right product
Right customer
Right time
Right place
Right condition
Right quantity
Right cost
Logistics Value equation - ANSWER Value = Quality/Cost
Logistics challenges - ANSWER Outsourcing, JIT, Security, Transportation
Infrastructure, Fuel Price Volatility, Pressure on margins, Globalization, Talent
management, and sustainable practices
Order Fulfillment definition - ANSWER all activities from the time of a sales inquiry until
the order is delivered to the customer
Product Availability - ANSWER items are available when and where desired by the
customer
Stockouts - ANSWER items are unavailable when and where desired by the customer
Stockout Frequency: Brick and Mortar retailers - ANSWER Non-advertised items: 7-10%
Advertised items: 16%
Item Fill Rate - ANSWER % of ordered items delivered
, Line Fill Rate - ANSWER % of order lines filled in total
Order Fill Rate - ANSWER orders shipped complete
Customer Expectations: Speed - ANSWER Order-to-Delivery
What will customers pay for?
Customer Expectations: Consistency - ANSWER On-Time Delivery
promised lead times are met
Customer Expectations: Flexibility - ANSWER Agility (react to short-term changes)
Customer Expectations: Transparency - ANSWER real-time information
NO surprises
bad news does not improve with age
Customer Expectations: Recovery - ANSWER Contingency planning
Improve customer satisfaction?
MTS acronym ANSWER Make-To-Stock
ATD acronym and meaning ANSWER Available to Deliver: in-stock
ATP acronym and meaning ANSWER Available to Promise: Reliably on the way
Partial fill ANSWER Partially in-stock
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Easton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now