Industry Overview

Question 1

Logistics

Answer 1

that 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 from the point of origin to the point of consumption in order to meet customers’ requirements.

Question 2

Transportation

Answer 2

The flow of inventory from points of origin in the supply chain to destinations, or points of use and consumption.

Question 3

Optimized Logistics Performance

Answer 3

means that these activities are working closely together so that the customer of the logistics service is satisfied with the service, yet the cost the company incurs is minimized.

Question 4

Supply Chain

Answer 4

A supply chain is the network of companies that work together to provide a good or service for end users and consumers.

Question 5

Supply Chain Managment

Answer 5

Supply chain management encompasses the planning and management of all activities involved in sourcing, procurement, conversion, and logistics management.

Question 6

Links and Nodes

Answer 6

Transportation provides the links that connect nodes in the supply chain network, linking a focal company to its suppliers and customers.

Question 7

5 Modes of Transportation

Answer 7

five modes of transportation: road, rail, water, air, and pipeline.

Question 8

Modal Split

Answer 8

modal split refers to the market share, as measured by total revenues earned by carriers operating within that mode. Trucking has 77% share