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Logistics > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Logistics

A

A part of Supply Chain Management that controls the forward and reverse flow and storage of goods between the point of origin and the point of consumption

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2
Q

Supply Chain Management

A

an integrating function with primary responsibility for linking major business functions across companies into a cohesive and high-performing business model

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3
Q

8 Supply Chain Processes

A
  1. Demand Mgmt
  2. Customer Relationship Collaboration
  3. Order Fulfillment
  4. Service Development Launch
  5. Manufacturing Flow Management & Customization
  6. Supplier Relationship Collaboration
  7. Customer Service Life Cycle
  8. Returns Reverse Logistics
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4
Q

7 Rs of Logistics

A
  1. Right Product
  2. Right Customer
  3. Right Quality
  4. Right Quantity
  5. Right Place
  6. Right Time
  7. Right Cost
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5
Q

Evolution of Logistics Integration (1960 to 2000)

A

1960 - 13
1980 - Material Mgmt & Physical Distribution (Warehousing, Materials Handling, & Packaging)
1990 - Logistics
2000s - SCM

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6
Q

Key Tradeoffs faced by Logistics Managers

A

Logistics & Marketing in order to do better with customer satisfaction

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7
Q

Operational performance

A

Deals with speed

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8
Q

Service reliability

A

Deals with quality

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9
Q

3 Levels of Customer Relationship

A
  • Customer service
  • Customer satisfaction
  • Customer success
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10
Q

The perfect order

A

– Delivered complete
– Delivered on time
– Delivered at the right location
– Delivered in perfect condition
– Delivered with complete and accurate documentation

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11
Q

Zero-Defect percentage

A

The probability that any order will be delivered with no defects is only 88.5%, but for each individual part it’s 97%

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12
Q

Customer’s expectations

A

If Perceived Performance is greater than or equal to Expectations then = Satisfaction

If Perceived Performance is less than Expectations then = Dissatisfaction

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13
Q

How are customer expectations formed?

A
  • Past experience
  • Word of mouth communications
  • Requirements
  • External communications
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14
Q

Bullwhip Effect

A

as firms move away from the consumer, variability in demand increases

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15
Q

Reducing the Bullwhip

A
  • Decrease uncertainty and variability
  • Reduce lead-time
  • Develop strategic partnerships
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16
Q

Economic Order Quantity (EOQ)

A

is the amount that balances the cost of ordering with the cost of maintaining average inventory

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17
Q

Set of business processes that consistently provide superior value to the customer

A
  • Unique
  • Difficult to duplicate
  • Sustainable
  • Customer oriented
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18
Q

Transportation costs is typically what percentage of costs

A

60%

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19
Q

Example of logistics trade-off include:

A
  • Trade-offs between warehouse and transportation costs
  • Transport cost vs. inventory cost trade-offs
  • Warehouse trade-offs include materials handling done manually, mechanically, or robotically.
20
Q

1960s

21
Q

7 Economic Drivers that Influence Freight Rate

A
  1. distance
  2. weight
  3. density
  4. stowability
  5. handling
  6. liability
  7. market
22
Q

Safety stock

A

the shield that protects us from reaching zero inventory due to unknown increase in the demand or a purchase order that arrives late.

23
Q

Factors determining freight rate

A

the form of the cargo, the mode of transport (truck, ship, train, aircraft)

24
Q

Cross-docking

A

combines inventory from multiple origins into a pre-specified assortment for a specific customer

25
Newest and Least Utilized Transport Mode for Freight
Airmode
26
Sawtooth Model
shows how income adjusts to a change in aggregate demand
27
The 6 Transport Participants
1. Shipper 2. Consignee (Receiver) 3. Carrier and Agents 4. Government 5. Internet 6. Public
28
Modes of Transportation
– Rail (high fixed cost) – Highway/ Turck (Most available, low fixed) – Water – Pipeline (high fixed cost) – Air (Fastest but the most expensive - high variable cost)
29
Any innovative use of technology to support the supply chain from Dell
The supply chain plays a critical role in Dell Technologies’ vision for progress. We embed sustainability and ethical practices in everything we do.
30
Restrictive element
in-transit inventory is “captive”, usually inaccessible during transportation
31
Flexible element
inventory can be diverted during shipment to a new destination
32
Pipe (Modal Fixed & Variable costs)
Fixed: high Variable: low
33
Air (Modal Fixed & Variable costs)
Fixed: low Variable: high
34
Water (Modal Fixed & Variable costs)
Fixed: medium Variable: low
35
Motor (Modal Fixed & Variable costs)
Fixed: low Variable: medium
36
Rail (Modal Fixed & Variable costs)
Fixed: high Variable: low
37
Most widely used systems are
- Trailer on a flatcar (TOFC) - Container on a flatcar (COFC)
38
TOFC
Trailer on a flatcar
39
COFC
Container on a flatcar
40
Factors Influencing Inventory Levels (know 3)
- Service level objectives - Average inventory (rate of demand, safety stock) - Supply chain structure - Number of products (forecast complexity, ICC) - Inventory cost structure
41
How Supply Chain Structure affects inventory level (know 4)
- Transportation mode - Warehouse locations/number - Customer requirements - Supply availability - Channel position - Order costs/requirements - Cost of Capital
42
Factors Influencing Inventory Levels (know 3)
- Service level objectives - Average inventory (rate of demand, safety stock) - Supply chain structure - Number of products (forecast complexity, ICC) - Inventory cost structure
43
Safety stock
is added to base inventory to protect against a stock-out when Demand Uncertainty
44
Factors Contributing to Bullwhip
- Demand forecasting (updating) - Promotions - Lead time protection - Price fluctuation
45
An effective logistics strategy must understand what four interrelated topics?
– Economic drivers (that influence rates) – Costing (methods to allocate costs) – Carrier pricing strategy (used to set rates) – Rates and rating (mechanics used by carriers)
46
Demurrage Rail
charge for holding a railcar for more than 48 hours before unloading
47
Backhaul Load
a load that a commercial trucker takes on a return trip

Logistics (2 decks)

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