Capitulo 1

Question 1

Time utility

Answer 1

Having products available WHEN they are needed by customers.

Question 2

Place utility

Answer 2

Having products available WHERE they are needed by customers.

Question 3

Possession utility

Answer 3

The value or usefulness that comes from a customer being able to take possession of a product

Question 4

Form utility

Answer 4

A product’s being in a form that:
(1) can be used by the customer
(2) is of value to the customer.

Question 5

Economic utility

Answer 5

The value of a product in fulfilling customer needs and wants

Question 6

Supply chain

Answer 6

All activities associated with the flow and transformation of goods from the raw material stage, through to the end user, as well as the associated information flows.

Question 7

Mass logistics

Answer 7

A one-size-fits-all approach in which every customer gets the same type and levels of logistics service

Question 8

supply chain management

Answer 8

In essence, supply chain management integrates supply and demand management within and across companies.

Question 9

tailor logistic

Answer 9

Groups of customers with similar logistical needs and wants are provided with logistics service appropriate to those needs and wants

Question 10

Tradeoff

Answer 10

changes to one logistics activity cause some costs to increase and others to decrease.

Question 11

demand forecasting

Answer 11

The creation across the supply chain and its markets of a coordinated flow of demand

Question 12

customer service

Answer 12

The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience

Question 13

Order management

Answer 13

Management of the activities that take place between the time a customer places an order and the time it is received by the customer

Question 14

international logistics

Answer 14

Logistical activities associated with goods that move across national boundaries

Question 15

Transportation management

Answer 15

The buying and controlling of transportation services by either a shipper or consignee

Question 16

Reverse logistics

Answer 16

Goods that flow from the consumer to the manufacturer
(e.g., product recalls and product recycling).

Question 17

Logistics management

Answer 17

Part of supply chain management 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 the point of consumption in order to meet customers’ requirements

Question 18

Logistics

Answer 18

Is explicitly recognized as part of supply chain management means that logistics can affect how well (or how poorly) an individual firm can achieve goals and objectives.

Question 19

The customized customer signifies that

Answer 19

the customer desires a product offering that is highly tailored to the customer’s exact preferences

Question 20

Humanitarian logistics

Answer 20

An emerging application of logistics to not-for-profit situations.

Question 21

The systems approach

Answer 21

Indicates that a company’s objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm, such as marketing, production, finance, and logistics

Question 22

Materials management

Answer 22

movement and storage of materials into a firm

Question 23

physical distribution

Answer 23

storage of finished product and movement to the customer

Question 24

Total cost approach

Answer 24

It is used to coordinate materials management and physical distribution in a cost-effective manner

Question 25

Total logistics concept. TLC

Answer 25

Ttreatment of all logistic activities, among all partners, as one integrated system

Question 26

Stockouts

Answer 26

being out of an item at the same time there is demand for it