What manages the transportation and storage of goods group of answer choices?
Logistics management is the part of supply chain management and supply chain engineering that plans, implements, and controls the efficient, effective forward, and reverse flow and storage of goods, services, and related information between the point of origin and point of consumption to meet customers’ requirements.
How does transportation help add economic value to products quizlet?
If we increase transportation we can make products non competitive b/c transportation is a part of that cost of that product. Higher cost = higher price = less sold therefore less competitive. Transportation can increase utility because it is helping provide the market with access to products.
What does the term zombie inventory refer to?
What does the term “Zombie Inventory” refer to?: (inventory that just won’t die). It sits unsold in storerooms, takes up space on store shelves, or creates bottlenecks in distribution centers, as workers try to determine what should be recycled, repaired, or discarded.
Should be viewed as part of supply chain management and has four subdivisions including business Military Event and Service *?
should be viewed as part of supply chain management and has four subdivisions, including business, military, event, and service.
What is transport and logistics management?
Transportation and logistics management are two closely related business units that share a common objective. The primary goal is to transport inventory throughout a company’s supply chain efficiently and effectively. While people use the terms interchangeably, transportation management is a subdivision of logistics.
What is the purpose of supply chain management?
Supply chain management (SCM) is the centralized management of the flow of goods and services and includes all processes that transform raw materials into final products. By managing the supply chain, companies can cut excess costs and deliver products to the consumer faster.
How does transportation help add economic value to products?
How Transportation Creates Economic Growth. Sound transportation investments lower the costs of moving people and goods. This increases economic productivity, which roughly can be measured as the output of goods and services per dollar of private and public investment.
Which of the following would be a good reason to outsource buy versus make an item?
Which of the following would be a good reason to outsource (buy) versus make an item? A firm lacks the technology or expertise to produce an item. Managing a firm’s external resources in ways that support the long-term goals of the firm can be referred to as?
Which of the following is a direct benefit of operating at lower inventory levels?
Less inventory means more space. By maintaining lower levels of inventory in each product, they have more room to market and sell more products. Retailers that maintain low inventory levels do not need to allocate as much storage space in the building for extra inventory.
What is the relationship between supply chain management and logistics management?
The basic difference between Logistics and Supply Chain Management is that Logistics management is the process of integration and maintenance (flow and storage) of goods in an organization whereas Supply Chain Management is the coordination and management (movement) of supply chains of an organization.
Which of the following management task refers to process of planning storing and providing the appropriate material of the right quantity at right time and place?
One way to look at business logistics is “having the right item in the right quantity at the right time at the right place for the right price in the right condition to the right customer.” An operations manager who focuses on logistics will be concerned with issues such as inventory management, purchasing.