Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
67 Cards in this Set
- Front
- Back
|
1. Dependingon industry and product type, reverse logistics costs as a percent of revenuecan range between ____ and ____ percent. a. 5; 10 b. 4; 8 c. 3; 6 d. 2; 4 |
c. 3; 6 |
|
|
2. Which of thefollowing is not a level at which strategy can be formulated? a. corporate b. business unit c. functional d. all of the aboveare levels at which strategy can be formulated |
d. all of the above are levels at which strategy can be formulated |
|
|
3. ____strategy is focused on determining the goals for the company, the types ofbusinesses in which the company should compete, and the way the company will bemanaged. a. functional-level b. businessunit-level c. divisional-level d. corporate-level |
d. corporate-level |
|
|
4. Strategyat a ____ level is primarily focused on the products and services provided tocustomers and on finding ways to develop and maintain a sustainable competitiveadvantage with these customers. a. functional b. business unit c. divisional d. corporate |
b. business unit |
|
|
5. Whichof the following is not one of the generic strategies that can be pursued by anorganization, as identified by strategist Michael Porter? a. value enhancement b. differentiation c. cost leadership d. focus e. allof the above are generic strategies |
a. value enhancement |
|
|
6. A____ strategy entails an organization developing a product and/or service thatoffers unique attributes that are valued by customers and that the customerperceives to be distinct from competitor offerings. a. focus b. differentiation c. value enhancement d. marketorientation |
b. differentiation |
|
|
7. Whichgeneric strategy concentrates an organization’s effort on a narrowly definedmarket to achieve either a cost leadership or differentiation strategy? a. hybrid b. marketorientation c. tailored d. focus |
d. focus |
|
|
8. A(n)____ entails the functional units of an organization providing input into theother levels of strategy formulation. a. supply chain b. interfunctionalcooperation c. hierarchy ofstrategy d. enterpriseresource system |
c. hierarchy of strategy |
|
|
9. Whichof the following represents the preferred hierarchy of strategy (i.e., from thefirst strategy to be developed to the last to be developed)? a. corporatebusiness unitfunctional b. functionalbusinessunitcorporate c. corporatebusinessunitdivisional d. business unitdivisionalfunctional |
a. corporatebusiness unitfunctional |
|
|
10. ____ strategy decisions involve issuessuch as the number and location of warehouses and the selection of appropriatetransportation modes. a. marketing b. production c. finance d. logistics |
d. logistics |
|
|
11. Which of thefollowing is not a potential type of logistics strategy decisions? a. investments intechnology that support logistics activities b. selectingappropriate transportation modes c. deployment ofinventory d. number andlocation of warehouses e. all of the aboveare potential logistics strategy decisions |
e. all of the above are potential logistics strategy decisions |
|
|
12. Whendeveloping logistics strategy, a ____ strategy refers to the management oflogistics activities with a focus on costs. a. market b. process c. command andcontrol d. information |
b. process |
|
|
13. The ____ showsrevenues, expenses, and profit for a period of time. a. balance sheet b. current ratio c. income statement d. annual report |
c. income statement |
|
|
14. Ingeneral, the ____ measures the profitability of the products and/or servicesprovided by a company. a. balance sheet b. strategic profitmodel c. balancedscorecard d. income statement |
d. income statement |
|
|
15. The ____ reflectsthe assets, liabilities, and owners’ equity at a given point in time. a. balancedscorecard b. balance sheet c. income statement d. annual report |
b. balance sheet |
|
|
16. The balance sheetreflects the assets, liabilities, and____ at a given point in time. a. costs of goodssold b. net income c. owners’ equity d. asset turnover |
c. owners’ equity |
|
|
17. Which of thefollowing does not appear on the balance sheet? a. assets b. owners’ equity c. liabilities d. net income e. all of the aboveappear on the balance sheet |
d. net income |
|
|
18. The current ratiois calculated by dividing ____ by ____. a. total currentassets; total current liabilities b. total currentliabilities; total current assets c. total assets;total liabilities d. totalliabilities; total assets |
a. total current assets; total current liabilities |
|
|
19. Which of thefollowing is a common measure of organizational financial success? a. quick ratio b. the incomestatement c. current ratio d. return oninvestment |
d. return on investment |
|
|
20. Whatprovides the framework for conducting return on assets analysis by incorporatingrevenues and expenses to generate net profit margin, as well as inclusion ofassets to measure asset turnover? a. the BalancedScorecard b. the StrategicProfit Model c. microfinancing d. Supply ChainOperations Reference Model |
b. the Strategic Profit Model |
|
|
21. Return on assetsequals: a. current assetsdivided by total assets b. return oninvestment divided by return on net worth c. net profit margintimes asset turnover d. total assetsdivided by costs of goods sold per |
c. net profit margin times asset turnover |
|
|
22. Supposethat a logistics manager is able to eliminate some unnecessary inventory, whichreduces the value of current assets as well as total asset value. What is thecorresponding impact on inventory turnover and return on assets? a. both inventoryturnover and return on assets will increase b. inventoryturnover increases, while return on assets decreases c. inventoryturnover decreases, while return on assets increases d. both inventoryturnover and return on assets will decrease pan> |
a. both inventory turnover and return on assets will increase |
|
|
23. Which of thefollowing is false? a. theStrategic Profit Model (SPM) can assist the logistics manager in the evaluationof cash flows and asset utilization decisions b. the SPM fails toconsider the timing of cash flows c. the SPM issubject to manipulation in the short run d. the SPM fails torecognize assets that are dedicated to specific relationships e. all of the aboveare true |
e. all of the above are true |
|
|
24. What is theformula for net profit margin? a. gross profitminus interest expenses b. sales divided bycosts of goods sold c. total salesdivided by total assets d. net profitdivided by sales e. none of the above |
d. net profit divided by sales |
|
|
25. Withrespect to net profit margin, the most relevant categories for logisticsmanagers to consider are: a. sales, costs ofgoods sold, asset turnover b. accountsreceivable, costs of goods sold, total expenses c. sales, costs ofgoods sold, total expenses d. inventory,accounts receivable, total expenses |
c. sales, costs of goods sold, total expenses |
|
|
26. What is theformula for asset turnover? a. total salesdivided by total assets b. net profitdivided by total assets c. return on assetsdivided by total assets d. return oninvestment divided by return on net worth |
a. total sales divided by total assets |
|
|
27. With respect toasset turnover, ____ is typically the most relevant logistics asset. a. warehousing b. inventory c. transportationequipment d. materialshandling equipment |
b. inventory |
|
|
28. Thebalanced scorecard approach is based on the belief that management shouldevaluate their business from ____ distinct perspectives. a. two b. three c. four d. five |
c. four |
|
|
29. Whichof the following is not one of the perspectives evaluated in the balancedscorecard approach? a. customers b. internal businessprocesses c. learning andgrowth d. financial e. all of the aboveare perspectives in the balanced scorecard approach |
e. all of the above are perspectives in the balanced scorecard approach |
|
|
30. Logisticsmeasurement systems have been traditionally designed to include information onhow many types of performance? a. two b. three c. four d. five |
d. five |
|
|
31. Performancemeasurement in ____ is used to identify design and operations options thatprovide benefits in terms of increased speed or reduced costs. a. materialshandling b. warehousing c. packaging d. order management |
b. warehousing |
|
|
32. ____looks at how long an organization’s cash is tied up in receivables, payables,and inventory. a. cash-to-cashcycle b. cash flow c. gross marginreturn on investment d. current ratio |
a. cash-to-cash cycle |
|
|
33. ____ and ____ arethe two basic organizational structures associated with logistics. a. centralized;hierarchical b. fragmented;centralized c. fragmented;unified d. unified;hierarchical |
c. fragmented; unified |
|
|
34. Ina ____ logistics structure, logistics activities are managed in multipledepartments throughout an organization. a. unified b. fragmented c. decentralized d. matrix |
b. fragmented |
|
|
35. Oneproblem with a ____ logistics structure is that because logistics activitiesare scattered throughout a firm, they likely remain subservient to theobjectives of the department in which they are housed. a. fragmented b. matrix c. decentralized d. hierarchicial |
a. fragmented |
|
|
36. Ina ____ logistics structure, multiple logistics activities are combined into,and managed as, a single department. a. hierchical b. centralized c. matrix d. unified |
d. unified |
|
|
37. A____ logistics organization implies that the corporation maintains a singlelogistics department that administers the related activities for the entirecompany from the home office. a. centralized b. hierarchical c. unified d. command-and-control |
a. centralized |
|
|
38. A____ logistics organization means that logistics-related decisions are madeseparately at the divisional or product group level. a. fragmented b. decentralized c. flexible d. agile |
b. decentralized |
|
|
39. Aprimary advantage of ____ logistics is its relative efficiency, whereas aprimary advantage of ____ logistics is its customer responsiveness. a. unified;fragmented b. unified;decentralized c. centralized;decentralized d. fragmented;centralized |
c. centralized; decentralized |
|
|
40. Which of thefollowing is an advantage of a decentralized logistics organization? a. less expensivethan a centralized organization b. goodopportunities for freight consolidation c. better controlover company data d. can be responsiveto customer service requirements |
d. can be responsive to customer service requirements |
|
|
41. Which of thefollowing is an advantage of a centralized logistics organization? a. less expensivethan a decentralized organization b. goodopportunities for freight consolidation c. can be responsiveto customer service requirements d. easier to managethan a decentralized organization |
b. good opportunities for freight consolidation |
|
|
42. ____organizational design has its foundations in the command-and-control militaryoperation, where decision-making and communication often follow a top-downflow. a. centralized b. unified c. matrix d. hierarchical |
d. hierarchical |
|
|
43. A____ organizational design attempts to create an organization that isresponsive to the parameters of the contemporary business environment. a. matrix b. network c. decentralized d. unified |
b. network |
|
|
44. A key attributeof network organizational design is a shift from ____ to ____. a. function; process b. centralization;decentralization c. process; function d. decentralization;centralization |
a. function; process |
|
|
45. ____ refers tosatisfying current and emerging customer needs. a. responsiveness b. flexibility c. relevancy d. accommodation |
c. relevancy |
|
|
46. ____can be defined as an organization’s ability to address unexpected operationalsituations. a. relevancy b. flexibility c. accommodation d. responsiveness |
b. flexibility |
|
|
47. ____ refers tothe amount of output divided by the amount of input. a. control b. monitoring c. productivity d. input-outputanalysis |
c. productivity |
|
|
48. Productivityimprovement efforts in logistics are often directed towards ____. a. reducing inputwhile increasing output b. increasing outputby a greater percentage than inputs are increased c. reducing inputwhile holding output constant d. increasing outputwhile holding input constant |
d. increasing output while holding input constant |
|
|
49. What is the mostimportant purpose of warehouse work rules? a. to controlpilferage b. to keep employeesfrom engaging in unproductive and potentially destructive activities c. to protectcompanies from union grievance procedures d. to give managerscontrol over warehouse workers |
b. to keep employees from engaging in unproductive and potentially destructive activities |
|
|
50. A____ is a device used to monitor and control the actions taken by a driver andhis/ her vehicle. a. tachograph b. tachometer c. speedometer d. regulator line |
a. tachograph |
|
|
51. ____is a set of generic standards used to document, implement, and demonstrate qualitymanagement and assurance systems. a. benchmarking b. Six Sigma c. ISO 9000 d. ISO 14000 |
c. ISO 9000 |
|
|
52. ____ refers tothe integration of Six Sigma and the Lean approach. a. ISO 9000 b. qualitymanagement c. supply chainmanagement d. Lean Six Sigma |
d. Lean Six Sigma |
|
|
53. What is a keydifference between IS0 9000 and the Baldrige Quality Award? a. only the BaldrigeAward focuses on quality b. the BaldrigeAward is more externally focused than is ISO 9000 c. ISO 9000 is moreexternally focused than the Baldrige Award d. ISO 9000 focusesmore on lean practices than does the Baldrige Award |
b. the Baldrige Award is more externally focused than is ISO 9000 |
|
|
54. The____ has been established to identify uncertainty sources that can affect therisk exposure for logistics activities. a. LogisticsUncertainty Index b. LogisticsUncertainty Pyramid Model c. Logistics RiskConsortium d. Logistics RiskFactor |
b. Logistics Uncertainty Pyramid Model |
|
|
55. From a logistics perspective, two of mostimportant government agencies incorporated into the Department of Homeland Securitywere the Transportation Security Agency and ____. a. Department ofTransportation b. Federal MaritimeCommission c. SurfaceTransportation Board d. Customs andBorder Protection |
d. Customs and Border Protection |
|
|
56. The ____ isresponsible for the security of the U.S. transportation system. a. Department ofCommerce b. Department ofTransportation c. TransportationSecurity Administration d. U.S. StateDepartment |
c. Transportation Security Administration |
|
|
57. TheImporter Security Filing (ISF) rule requires importers to file ____ pieces ofinformation and carriers to file ____ pieces of information. a. 10; 2 b. 5; 5 c. 2; 10 d. 4; 8 |
a. 10; 2 |
|
|
58. Allof the following are reasons why logisticians should be concerned about theft,except: a. stolen productsmay reappear to compete with other products b. the time andcosts associated with theft aren’t always covered by insurance c. someorganizations will avoid locating their facilities in areas characterized byhigh crime rates d. theft can lead tostockouts in the distribution channel e. all of the aboveare reasons to be concerned about theft |
e. all of the above are reasons to be concerned about theft |
|
|
59. The materialsstolen in ____ are usually for the employee’s own use. a. theft b. demurrage c. non-monetarycompensation d. pilferage |
d. pilferage |
|
|
60. What is theprimary difference between pilferage and theft? a. there is nodifference between the two b. pilferageinvolves a firm’s own employees, while theft involves efforts from outsiders c. theft refers tostolen merchandise worth more than $500 d. pilferage refersto stolen merchandise worth more than $500 |
b. pilferage involves a firm’s own employees, while theft involves efforts from outsiders |
|
|
61. Theconcept of logistics social responsibility, or corporate social responsibilityissues that relate directly to logistics, did not emerge until which decade? a. 1970-1979 b. 1980-1989 c. 1990-1999 d. 2000-2009 |
c. 1990-1999 |
|
|
62. Thetwo areas in logistics systems where most energy costs occur are ____ and ____. a. warehousing;transportation b. packaging;transportation c. materialshandling; packaging d. warehousing;materials handling |
a. warehousing; transportation |
|
|
63. Withrespect to the design of warehouses, one suggestion for energy savings is tomake sure that dock doors are not placed on the ____ of a building. a. west b. east c. north d. south |
c. north |
|
|
64. Transportationaccounts for approximately ____ of all petroleum consumption in the UnitedStates. a. three-quarters b. two-thirds c. one-half d. one-third |
b. two-thirds |
|
|
65. Whichof the following is not one of the three critical factors associated with theprocess of managing returned goods? a. why products arereturned b. whether returnedgoods should be managed internally or outsourced to a third party c. how to optimizereverse logistics d. how many productsare returned |
d. how many products are returned |
|
|
66. ____complexity refers to the growing number nodes and the associated changes to thelinks in the logistics system. a. process b. range c. network d. system |
c. network |
|
|
67. ____complexity centers on the implications associated with the increasing number ofproducts that most companies continue to face in an effort to differentiatethemselves with their customers. a. process b. range c. network d. system |
b. range |
