Costs are considered in figuring the total cost of ownership

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Reference no: EM131719289

1. What is the term used for a company moving management of the complete cycle of material flow to an outside provider?

A. Logistics outsourcing

B. Contract distribution

C. Supply chain management

D. Vendor-managed inventory

E. Contract material management

2. What three main categories of costs are considered in figuring the total cost of ownership? (Select all that apply.)

A. Acquisition costs

B. Ownership costs

C. Post-ownership costs

D. Marketing costs

E. Overhead costs

3. Logistics accounts for about what percent of the U.S. gross domestic product?

A. About 8-9 percent

B. About 12 percent

C. About 19-20 percent

D. About 5 percent

E. About 2-3 percent

4. What mode of transportation is involved in the movement of the greatest number of products?

A. Rail

B. Highway (truck)

C. Pipelines

D. Waterway (ship)

E. Air

5. The widespread scientific application of yield management began within what industry?Costs of changing the production rate

A. Automotive

B. Construction

C. Military

D. Airline

6. What is another common name for the bill-of-materials?

A. Shopping list

B. Master item list

C. Product parts breakdown

D. Product structure tree

E. List of ingredients

7. Which international standard has recently been developed to address socially responsible behavior of firms?

A. United Nations Charter of Social Responsibility

B. ISO 14001

C. ISO 26000

D. Paris Accord on Global Responsibility

E. ISO 9000

8. What phrase refers to the idea that all steps in supply chain processes that deliver goods and services to the customer should create value?

A, Value rule

B. Value chain

C. Lean supply chains

D. Lean logistics

E. Value-added principle

9. What does a triangle represent in a value stream map?

A. A work cell

B. Operator

C. Non-value-added time in the process

D. Inventory

E. Inspection point

10. Compared to manufacturing systems, what is it about the environment of service operations that make them much harder to control?

A. Mid-level management

B. Noise and environment

C. Employee skills

D. Uncertainty and variability

E. Limited space

Reference no: EM131719289

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