Exam 1: An Overview of Logistics

"How well a company does what it says it's going to do" represents ___________.

___________ utility refers to the value or usefulness that comes from a customer being able to take possession of a product.

The four general types of economic utility are production, possession, time, and place.

The systems approach indicates that a company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of a firm.

Superior logistics is an essential component of corporate strategies for many big-box retailers.

____ refers to the delay of value-added activities such as assembly, production, and packaging to the latest possible time.

Logistics has played a minor role in the growth of global trade.

World trade grew at an average annual rate of approximately ____ percent between 1991 and 2011.

A common interface between production and logistics involves:

Demand forecasting is not considered to be a logistics-related activity.

Humanitarian logistics represents an emerging application of logistics to not-for-profit organizations.

Intermediaries assume ownership of goods while they're in the marketing channel.

Co-branding allows customers to purchase products from two or more name-brand retailers at one store location. Which of the following statements about co-branding is false?

Every customer getting the same type and level of logistics service refers to ___________.

Market demassification suggests that the customer desires a product offering that is highly tailored to her/his exact preference.

Which of the following is not a reason for the increased importance of logistics?

____ refers to the removal of intermediaries between producer and consumer.

Which of the following is not part of the marketing channel?

The ownership channel is the one where buy and sell agreements are reached.

Packaging can have both a marketing and logistical dimension.