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Flashcards in Logistics Mgmt Deck (12)
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1

What is Logistics management

Overall process of managing how resources are acquired, stored and distributed to their final destination.

2

What are the 4 subdivisions of Logistics

Business, Military, Event and Service

3

What are the common characteristics of the 4 Subdivisions of Logistics

All require such functions as forecasting, scheduling and transportation.

4

List the 5 types of economic utility add value to a product or service.

Transformation Utility
Place Utility
Time Utility
Quantity Utility
Possession Utility

5

What is Transformation Utility

Form utility refers to the value added to goods through a manufacturing or assembly process.

6

What is Place Utility

ogistics provides place utility by moving goods from production surplus points to points where demand exists.

7

What is Time Utility

The economic value added to a good or service by having it at a demand point at a specific time when it is needed.

8

What is Quantity Utility

Today’s business environment demands that products not only be delivered on time to the correct destination but also be delivered in the proper quantities.

9

What is Possession Utility

Possession utility is primarily created through the basic marketing activities related to the promotion of products and services.

10

In a product oriented environment what departments do Logistics interface with

Manufacturing/Operations, Marketing, Finance

11

What is Supply Chain management

Supply chain management definitions may varied accordingly to different association and industrial sectors but generally all refer to the flow of materials, information and finances from end to end.

12

What are the 5 key areas of global change

1. Globalisation: More volatility of supply and demand;
Shorter product life cycle; and
Blurring of traditional organisational boundaries
2. Technology; major force changing the dynamics of the marketplace
3. Organisational Consolidation
4. The empowered consumer
5. Government policy and regulation