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Intro to Logistics Flashcards | StudBud
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Intro to Logistics
Intro to Logistics
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1
All of these are in the "Seven R's of Logistics" EXCEPT
Right Time
Right Place
Right Product
Right Advertising
2
This is the best example of a properly written Incoterm
EXW, 200 Sherbourne Street, Toronto, Incoterms 2010
EXW
EXW, Toronto
Ex Works
3
Which of the following modes of transport is not usually studied by freight forwarders?
Air
Road
Pipeline
Rail
4
This type of "utility" is NOT usually considered to be under the control of the supply chain
Possession Utility
Time Utility
Place Utility
Form Utility
5
Which of the following is considered to be a VISTA country?
Vancouver
Sudan
Argentina
Sweden
6
Incoterms 2010 apply to:
All goods and services
Goods carried by Sea freight only
International trade only
Tangible goods only
7
Which if the following is considered to be a BRIC country?
Cambodia
Canada
Russia
Indonesia
8
The primary advantage of shipping goods by sea is:
Ability to safely transport delicate goods
Flexibility
Speed
Low freight costs per unit shipped
9
A major concern of Lean Manufacturing is:
Elimination of waste
Slowing down the production process
Producing in large batches
Negotiating better deals in purchasing
10
This group of Incoterms is appropriate for sea and inland waterway only
FAS, FOB, CFR, CIF
"D" Terms
"F" Terms
EXW, DDP, FCA, DAT
11
Inventory is:
A liability
An Expense
Revenue
An asset
12
WMS means
Winnin Metrics for Supply Chain
Warehouse Management System
World Supply Chain Society
Warehouse Modification Specification
13
In supply chain managment, the acronym "KPI" stands for
Kanban Production Item
Key Performance Indicator
Kool Product Introduction
Kazakhstan Pakistan India
14
Activities for which a Logistics Manager might be responsible include all of these EXCEPT
Warehousing
Advertising
Inventory Control
Transportation
15
Which of the following is NOT normally considered to be a pillar organization for the CSCSC?
CBSA
CIFFA
APICS
SCMA
16
Under Incoterms 2010, the Buyer's obligations are minimized in this group
C Terms
E Terms
F Terms
D Terms
17
Incoterms addresses two key issues. They are:
Determining legal jurisdiction and language of contract
Division of transaction costs and division of risk
Setting prices and determining ownership
Terms of payment and method of payment
18
SAP, Dynamics, JD Edwards, and Oracle are examples of
HR Systems
Modular ERP Systems
Warehouse management Systems
Billionaire Business Personalities
19
TMS means
Transportation Management System
Transport Monetary Specifications
Too Much Studying
Too Mean for School
20
Which of the following is true of Incoterms 2010?
Incoterms are international law
Incoterms dicate prices to be charged
Incoterms are not international law
Incoterms apply automatically to contracts of sale
21
Amazon does this really well!
Makes great use of all warehouse space
Manually creates documentation
Pursues short term profit at the expense of long term growth
Aggravates customers
22
The copyright for Incoterms 2010 is owned by
CIFFA
ICC
APICS
WCO
23
One of the main focuses of Six Sigma is
Maximizing sales
Keeping workers busy
Negotiating better costs
Reducing variation in business processes
24
Under Incoterms 2010, the seller's obligations are minimized in this group
D Terms
F terms
C terms
E terms
25
A Canadian Importer is quoted $10 per unit from his supplier in Europe. Which Incoterm is best?
$10 DAP
$10 FOB
$10 FCA
$10 EXW
26
Normally, an advantage of moving cargo by air is:
Ability to carry large loads
Speed
Flexibility
Low cost
27
A Bill of Lading is best described as:
An invoice for goods that have been shipped
Payment for goods shipped, as good as cash
A contract of carriage
An inspection report stating the quality of goods shipped
28
All of these are good metrics to be used in Distribution Centres EXCEPT
Order fill rate
Inventory record accuracy
Gross profit
On time shipments to customers
29
Each of the following almost always appear on a Bill of Lading
except:
The weight of the cargo
The consignee
The invoice price of the cargo
The shipper's signature
30
This is one of the "Five Major Forces" that seem to drive economic and political change
Elections
War
Globalization
Weather