Intro Handout Flashcards

1
Q

Procurement questions

A

Which contract? Where to buy? How to improve?

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2
Q

Transportation Q

A

What mode? How often?

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3
Q

Manufacturing Q

A

Quantity? Quality?

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4
Q

DC Q

A

Where to locate? How many? How to design? How to operate? How many to keep?

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5
Q

Store

A

What value to deliver? What LT? What service?

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6
Q

Reverse logistics

A

Store - Defective returns - Returned Shipment - Warehouse - Recycle Center

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7
Q

SCM

A

Manage upstream and downstream relationships in order to deliver customer value at least cost to whole supply chain.
Improve flow materials and information from suppliers to end users.

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8
Q

Logistics activities

A

anticipating (customer needs), acquiring resources (to meet needs), utilizing network in timely manner (to fulfill customer request)

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9
Q

*Professor Q

A

How should we bring material to our assembly line? What kind of inventory position our story need? What is our return policy? Customer service?

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10
Q

Higher logistics costs means..

A

high cost for consumer, low profit for company, lower living standard

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11
Q

Logistics creates economic utilities. What are those?

A

Usefulness an item has in fulfilling a want or need (benefit of getting some things. e.g. receive the beer but cannot open it, or receive it late.

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12
Q

Competitive Advantage? 2 kinds?

A

How firm differentiates in the eyes of the customer. Value and cost advantage.

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13
Q

*Logistics is..

A

Develop business strategies. What can I deliver. What I am good at and benefit from it. There is a need in the market. How can you benefit from resources. Companies might use market base.

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14
Q

Types of utilities

A
  1. Quantity (logistics) 2. Form (production). 3.Possession (marketing) 4. Place (where) 5. Time 6.
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15
Q

Cost advantage

A

Lower cost, lower price, higher demand, more profit, economies of scale/learning curve/logistics advantage

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16
Q

Value advantage

A

Customer buys benefits, not products! (marketing!). Otherwise it will be seen as an -horrible, dull- “commodity”

17
Q

Cost advantage / value advantage

A

low cost advantage /low value advantage - COMMODITY LEADER
low cost/high value - SERVICE L.
high cost/high advantage - COST & SERVICE L.
high cost/low value - COST L.

18
Q

How logistics reduce costs

A

Capacity utilization, industrial packaging (protect from damaging), reliability (shortage of raw materials)

19
Q

How logistics creates value

A
  1. Tailored services: customer segmentation, customized services.
  2. Responsiveness: agile logistics
  3. Impact in marketing (4 P’s)
20
Q

Omega example

A

lot of demand variability, low inventory, looking for STRATEGIC FIT

21
Q

Strategic fit is

A

How you meet goals you want to determine those goals.

22
Q

3 steps of Strategic fit

A

1) Uncertainties 2) Capabilities 3) Define fit