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SCM 303 Exam 3 MSU FS2018 Questions and Correct Answers the Latest Update $14.09   Add to cart

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SCM 303 Exam 3 MSU FS2018 Questions and Correct Answers the Latest Update

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Logistics definition 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 forward and reverse military roots of logistics Alexander the Great (330 BC)...

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  • November 7, 2024
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  • SCM 303
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SCM 303 Exam 3 MSU FS2018 Questions
and Correct Answers the Latest Update
Logistics definition


✓ 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


✓ forward and reverse



military roots of logistics


✓ Alexander the Great (330 BC) i.e. campaign timing around local harvest, soldiers
carry own provisions, marches near waterways, etc.



Transportation: Steam power


✓ Ships and Railroads (1800s)



Transportation: Internal combustion engines


✓ Trucks and Planes (1900s)



Communications: Electrical born in...


✓ mid 1800s



Communications: Digital born in...

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✓ 1990s



Logistics accounts for approximately __% of the US GDP


✓ 10



Over $______ per year spent on logistics


✓ $1 trillion



Some industries could obtain productivity improvements of _______% by

focusing on logistics


✓ 20-35%



Logistics accounts for __________ jobs and __% of the total labor force


✓ 15 million, 14%



7 "Rights" of Logistics


✓ Right product
✓ Right customer
✓ Right time
✓ Right place
✓ Right condition
✓ Right quantity
✓ Right cost



Logistics Value equation


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✓ Value = Quality/Cost



Logistics challenges


✓ Outsourcing, JIT, Security, Transportation Infrastructure, Fuel Price Volatility,
Pressure on margins, Globalization, Talent management, and sustainable practices



Order Fulfillment definition


✓ all activities from the time of a sales inquiry until the order is delivered to the
customer



Product Availability


✓ items are available when and where desired by the customer



Stockouts


✓ items are unavailable when and where desired by the customer



Stockout Frequency: Brick and Mortar retailers


✓ Non-advertised items: 7-10%
✓ Advertised items: 16%



Item Fill Rate


✓ % of ordered items delivered



Line Fill Rate



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