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Spring 24 > SCM 301 FINAL PART 3 > Flashcards

SCM 301 FINAL PART 3 Flashcards

1
Q

Why are logistics critical?

A

Advances in information systems

Globalization of markets

Push towards sustainability

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2
Q

What are the 5 modes of transportation

A

Highway
Water
Air
Rail
Pipeline

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3
Q

What are the characteristics of Highway transportation?

A

Dominates US infrastructure

flexible

More cost effective over time

Direct truck are shipments made with no stops

Less than truckload (LTL) is smaller shipments combined with other loads

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4
Q

What are the characteristics of Water transportation?

A

Ideal for products with a lot of weight compared to their value

lowest ton per miles rate (keeps costs down)

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5
Q

What are the characteristics of Air transportation?

A

Least used mode because it is expensive and inflexible

Ideal for items with low weight and high value

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6
Q

What are the characteristics of Rail transportation?

A

More flexibile than water

Strategies for accomadting growth (double number of lines along busy routes, change configuration of tracks, multimodal solutions)

as seamless as possible transition from other transportation modes

Road railer – rail car that can quickly change from a rail car to a truck trailer

Most miles shipped

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7
Q

What are the uses of warehousing?

A

Reduce transportation costs

Improve operational flexibility

Shorten customer lead times

Lower inventory related costs

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8
Q

What is Consolidation warehousing?

A

pulls together shipments from a number of sources in a region and combines them into a more econmical load

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9
Q

What is Cross-Docking?

A

large incoming shipments are broken down into smaller outgoing shipments

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10
Q

What is Hub and Spoke warehousing?

A

placing hubs strategically, used to transfer and sort products, takes advantage of economies of scale

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11
Q

What is Postponement warehousing?

A

combines classic warehouse operations with light manufacturing and packing duties, which allows firms to put off final assembly

keep components or generic products in stock until specific customer orders are received

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12
Q

What is Assortment warehousing?

A

goods held close to the source of demand in order to assure short customer lead times

carry a wide array of goods for a longer time

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13
Q

What is Spot Stock warehousing?

A

form of warehousing that attempts to position seasonal goods close to the market-place

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14
Q

What is Inventory Pooling?

A

act of holding safety stock in a single location

lowers safety stock (reduces costs)

lead times do not vary (demand at each location is independent and normally distributed)

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15
Q

What are the six parts of logistics?

A

transportation

warehousing

material handling

packaging

inventory management

logistics information systems

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16
Q

What are decision support tools in a logistics information system?

A

help managers choose locations for their warehouses and determine number of containers needed

17
Q

What does a Planning System do in logistics?

A

Helps managers with specific activites like selecting a carrier

18
Q

What is an execution system in a logistics information system?

A

Most detailed level of logistics systems

Helps managers monitor logistics and identify problems

Radio frequency identification (RFID) uses small electronics to track position of items

19
Q

What are common carriers (public)?

A

handles shipment for other firms on a case-by-case basis, without the need for long term agreements or contracts

20
Q

What is a contract carrier?

A

transportation service provider that handles shipments for other firms based on long term agreements or contracts

21
Q

What is a perfect order?

A

Delivered on time

Shipped complete

Invoiced correctly

Undamaged in transit

100% (total orders – orders with more than 1 defect/total orders)

22
Q

What is a landed cost?

A

measures how efficiently logistics provides a service

total expense associated with shipping a product

23
Q

What is the Weighted Center of Gravity Method?

A

Simple method of finding the best location for a single node (plant, warehouse, store)

“best” location is determined by the weighted X and weighted Y coordinates

24
Q

What is the Formula for the Weighted Center of Gravity Method?

A

Weight times each coordinate (do x and y separately) and divided by total number

25
Q

What is the Square Root Rule?

A

lowers inventory related costs

existing safety stock times the square root of new number of something divided by the old number of something

26
Q

What is the Formula for the Perfect Order?

A

total orders minus orders with a defect or more divided by the total orders

27
Q

What is a Reverse Logistics System?

A

A complete supply chain dedicated to the reverse flow of products and materials for the purpose of returns, repair, manufacturing

Spring 24 (14 decks)

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