REVIEW FOR FINAL EXAM

REVIEW FOR FINAL EXAM

1. These are the five modes of transportation. – airfreight, water, motor carriers, pipelines, rail roods.
2. Explain the role of transportation for the supply chain of a company. – it is essential for the sc because it carriers goods and people between two points. Move the goods in order to deliver it in time.
3. Which factors are considered while choosing a mode of transportation? Weight, cost, time, incoterms, distance.
4. Which is the best mode of transportation for the following products:

1. Coal - railroad
2. Gas - pipelines
3. Machinery – motor carrier - water
4. Tiffany´s jewelry air freight
5. Tennis shoes – moto carrier 

1. Explain the difference between less-than-truckload  (LTL) and truckload (TL).

LTL: 150 to 10,000 pounds and they use terminals. TL is greater than 10,000 pounds and they don’t use terminals. 

1. It refers to transportation when using a container or other equipment that can be transferred from the vehicle of one mode to the vehicle of another mode. INTERMODALS 
2. Which are the main functions of a Freight Forwarder?

Investigating and planning the most appropriate route for a shipment, taking account of the perishable or hazardous nature of the goods, cost, transit time and security. –Arranging appropriate packaging, taking account of climate terrain, weight nature of goods and cost and the delivery and warehousing of goods at their final destination. –Negotiation of contracts, prepare documentation. Handling cost.

1. It offers a specialized service to customers on a contractual basis, and the agreement specifies the compensation to be received, the services to be provided, and the type of equipment to be used, among others.  Contract Carrier
2. Define the term inventory and explain its importance to logistics. Stock goods that are maintain for many purposes in order to have the product available
3. It refers to inventory that is held in addition to cycle stock to guard against uncertainty in demand or lead time. Safety or buffer stock 
4. It refers to inventory that is held for several reasons, including seasonal demand, projected price increases, and potential shortages of product. Speculative stock
5. Give three suggestions in order to avoid inventory shrinkage. Cameras, security, packaging.
6. Define the term stockout costs. Associated of missing stock and product.
7. Give one example of a fixed order interval system. Ask to deliver in an especial period of time.
8. Explain the rule of thumb and give one example. 80/20
9. Give three solutions in order to avoid dead inventory. –promoving all products, discounts, make donations.
10. They refer to products that can feel the same need or want as another product. Substitutes 
11. Why companies nowadays are working with Lean manufacturing? Reduce cost, reduce errors, reduce inventory.
12. Which factors are considered while choosing a facility location? Cost, customer service expectations, natural resources.
13. Cite one example of a weight-losing product. Butter
14. Write three quality of life factors and explain why are they so important when companies choose a facility location. –Cost living, educational opportunities, crime rates.
15. It is defined as the process of receiving product and shipping it out the same day or overnight without putting it into storage. Cross docking
16. Write three advantages of a public warehousing. Requires no capital investment on the user’s party, and avoid the cost of unneeded space.
17. It refers to materials used for the containment, protection, handling, delivery and presentation of goods. – packing.
18. Define the term ergonomics. –Adapt to the employees or work conditions. 
19. Cite two examples where international logistics take place. –import raw materials to another country . or a firm exporting part of their product to japan.
20. Mention three functions of a protective package. –enclose the materials, restraint them from undesired contact, and cushion the content from outside vibrations.
21. Cite one example of a eco-friendly packaging. Ciel bottle 
22. Does the material handling influence customer service? Yes or No. Justify your answer. –Yes, the conditions of the product must be ensuring.  
23. Define the term embargo. –Prohibitions of trade between particular countries.
24. Explain how political, economic and cultural factors affect international logistics. –Political: tariff, non tariff barriers or import quota. –economic: market size, income, economic integration. –cultural: religion, language.

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