当代物流学习题2.doc

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PART II
ANSWERS TO END-OF-CHAPTER QUESTIONS

CHAPTER 1: LOGISTICS AND THE SUPPLY CHAIN

1. Did it surprise you that logistics can be such an important component in a country’s economic system? Why or why not?

The answer to this question likely depends on a student’s prior exposure to logistics. A “typical” student in an undergraduate basic logistics course likely has had limited exposure to, and knowledge about, logistics and thus would likely be unaware as to logistics’ impact on a country’s economic system. As such, she/he might be pleasantly surprised to learn that logistics often accounts for at least 10% of a country’s GDP and also is important for economic growth and development.

2. Distinguish between possession, form, time, and place utility.

Possession utility refers to the value or usefulness that comes from a customer being able to take possession of a product and can be influenced by the relevant payment terms. Form utility refers to a product’s being in a form that (1) can be used by the customer and (2) is of value to the customer. Place utility refers to having products available where they are needed by customers, while time utility refers to having products available when they are needed by customers.

3. How does logistics contribute to time and place utility?

Logistics contributes to time utility by recognizing that different products have different sensitivities to time. For example, a three-day late delivery of bananas likely has more serious consequences than a three-day late delivery of a box of pencils. As for place utility, logistics facilitates products being moved from points of lesser value to points of greater value.

4. How can a particular logistics system be effective but not efficient?

Effectiveness can be thought of as “how well a company does what they say they’re going to do;” efficiency focuses on how well (or poorly) company resources are used to achieve what a company promises they can do. There are a multitude of examples that would illustrate an effective, but not efficient, logistics system. For example, some companies routinely use premium and/or expedited transportation—which increase transportation costs—to meet customer delivery requirements. As such, the company could be considered effective (meeting delivery deadlines) but perhaps not efficient (increased transportation costs).

5. Does the fact that information can be substituted for inventory decrease or increase the difficulty of logistics management? Support your response.

There is not necessarily a “right” or “wrong” answer to this question. On the one hand, substituting information for inventory could decrease the difficulty of logistics management in the sense that decision making can be based on more objective, rather than subjective, data. On the other hand, the difficulty of logistics management could be increased because the ability to exactly match supply and demand places greater emphasis on correctly filling and delivering orders.

6. Explain the significance of the fact that the purpose of logistics is to meet customer requirements.

One reason for this significance is that meeting customer requirements means that companies must know—rather than assume—customer needs and wants. This knowledge is facilitated by communication between companies and their customers; even today some companies are hesitant to communicate with customers. In addition, meeting customer requirements means that a “one size fits all” approach to logistics will result in some customers being overserved and others being underserved. As a result, companies should consider a “tailored logistics” approach, where groups of customers with similar logistical needs and wants are provided with the appropriate logistical services.

7. Explain how an understanding of logistics management could be relevant to your favorite charitable organization.

There are any number of examples that can be used. Consider how the American Red Cross responded to the terrorist attacks of September 11, 2001. In a relatively short time, the Red Cross, with private sector support, was able to collect, assemble, warehouse, transport, and distribute relief supplies such as boots, safety goggles, and protective clothing, to New York City.

8. Discuss three reasons for why logistics has become more important since 1980.

One reason for the increased importance of logistics involves a reduction in economic regulation. This allowed individual carriers flexibility in terms of pricing and service and provided them an opportunity to break away from a “one size fits all” approach. Second, logistics has been championed by prominent non-logisticians; one important outcome has been recognition that logistics can be a source of competitive advantage for individual organizations. Third, technological advances have allowed logisticians to make faster, more informed, and more accurate decisions. The chapter also discusses the growing power of retailers and globalization of trade as reasons for the increased importance of logistics.

9. Which reason for the increased importance of logistics do you believe is most important? Why?

There is no single answer here. Students can offer compelling support for any one of the five reasons—a reduction in economic regulation; recognition by prominent non-logisticians; technological advances; growing power of retailers; globalization of trade—presented in the chapter. For example, a reduction in economic regulation has allowed carriers to offer different pricing-service options to different customers, which is important because different customers are trying to achieve different objectives with their logistical systems.

10. What are some practical implications of the idea that one logistics system does not fit all companies?

The idea that one logistics system does not fit all companies is derived from the fact that logistical goals and objectives should be compatible with the overall goals and objectives of a particular company. One basic implication is that different companies should have different logistical strategies and tactics—and these strategies and tactics should reflect company goals and objectives. As such, a company focusing on cost containment should have different logistics strategies and tactics than a company focusing on superior customer service. For instance, a company concerned with cost containment might purchase in extremely large quantities in order to receive cost savings. This decision impacts warehousing and transportation in the sense that the company will likely need a great deal of storage space and will likely utilize volume-oriented transportation providers. Additional implications can be offered.

11. Distinguish between inbound logistics, materials management, and physical distribution.

Inbound logistics refers to the movement and storage of materials into a firm; materials management refers to the movement and storage of materials and components within a firm; physical distribution refers to the storage of finished product and movement to the customer.

12. What is the systems approach to problem solving? How is this concept applicable to logistics management?

The systems approach to problem solving suggests that a company’s objectives can be realized by recognizing the mutual interdependence of the major functional areas such as marketing, production, finance, and logistics. As such, decisions made by one functional area can have important implications for the other functional areas. With respect to logistics, the systems approach suggests that one should recognize the mutual interdependence of the various activities that constitute the logistics function. Thus, a transportation decision may impact inventory, warehousing, and packaging, among others.
13. Explain what is meant by the total cost approach to logistics.

The total cost approach to logistics is built on the premise that all relevant activities in moving and storing products should be considered as a whole (i.e., their total cost), and not individually. Use of the total cost approach requires an understanding of cost tradeoffs; in other words, changes to one logistics activity cause some costs to increase and others to decrease. The key to the total cost approach is that all relevant cost items are considered simultaneously when making a decision. The objective is to find the approach with the lowest total cost that supports the organization’s customer service requirements.

14. Define what is meant by a cost trade-off. Do you believe that this concept is workable? Why or why not?

A cost trade-off acknowledges that changing patterns or activities of distribution will result in some costs increasing and other costs decreasing. The net effect, however, should be an overall cost decrease for providing a given level of customer service.

The remainder of the question asks the student for her/his opinion about the workability of this concept. Although nearly any answer is acceptable, those students who believe that cost trade-offs are unworkable might have difficulty with many of the concepts presented throughout the text.

15. What are several areas in which finance and logistics might interface?

The finance department is often in charge of capital budgeting decisions that would affect logistics, such as the materials handling and packaging equipment. Another potential area of finance/logistics interface is with respect to inventory. Key issues include inventory valuation, inventory float, and the fact that finance tends to view inventory from a dollar perspective while logistics tends to be more concerned with the number of units of inventory.

16. Briefly discuss each of the four basic aspects of the marketing mix and how each interfaces with the logistics function. In your opinion, which component of the marketing mix represents the most important interface with logistics? Why?

The four basic aspects of the marketing mix are place, price, product, and promotion. With respect to place, a key concern is to provide a certain product at the right time, in the right quantities, and in an undamaged condition. A key component of the pricing decision involves transportation cost factors. Although marketers tend to prefer delivered pricing systems, such systems create logistical challenges in the sense that the seller becomes responsible for product distribution. Product decisions have been complicated in recent years by product proliferation; although this proliferation allows for greater customer choice, it creates logistical challenges in terms of identification, storage, and tracking. Finally, promotion requires close coordination between marketing and logistics, particularly when “specials” are utilized. Failure to have sufficient product availability to support these specials can be especially detrimental to customer goodwill.

The remainder of the question asks for students to choose, and support, the most important interface with logistics. Any of the four components is acceptable.

17. Why do marketers tend to prefer FOB destination pricing rather than FOB origin pricing?

There are several reasons why marketers like FOB destination pricing. First, it enables a company to expand the geographic area to which its product is sold because distant customers in a region do not pay the full costs of transportation. Second, because each buyer has the same landed cost, it is easier for a company to apply a uniform retail price on a regional or national basis. Third, because the seller controls the logistics network, it can function in a manner that is most beneficial to the seller’s overall objectives.

18. What are several ways in which logistics and production might interface?

One important interface involves the length of production runs. Production often favors longer production runs in order to achieve lower production costs per unit; however, this generates large amounts of inventory—generally the responsibility of logistics. Another interface might occur with respect to the postponement concept in the sense that some value-added activities that were traditionally performed at the production plant are now performed in warehousing facilities. These facilities will need new types of equipment and may need to be configured differently in order to allow the value-added activities to take place.

19. Discuss five activities that might be part of a company’s logistics department.

The chapter presents, and describes, 14 separate activities that might be part of a company’s logistics department. Any five of the 14 are acceptable to be discussed by the students.

20. Logistics managers must be both generalists and specialists. Why is this true? Does this help to explain why there tends to be an imbalance in the supply of, and demand for, logistics managers?

Logisticians need to be generalists in order to understand the relationship between logistics and other corporate functions, both within and outside the firm. Logisticians also need to be specialists to understand the relationships between various logistics activities, as well as having some technical knowledge of the various activities. This combination of generalist and specialist likely provides a partial explanation for the imbalance in the supply of, and demand for, logisticians in the sense that not everyone is capable of balancing generalist and specialist requirements.
PART III
EXAMINATION QUESTIONS

CHAPTER 1: LOGISTICS AND THE SUPPLY CHAIN

Multiple Choice Questions

1. Logistics as a percentage of U.S. Gross Domestic Product is approximately (within 2%):

a. 5%
b. 10%
c. 15%
d. 20%
e. none of the above
(b; p. 4)

2. Logistics clearly contributes to ___________ and ___________ utility.

a. time; place
b. form; time
c. place; form
d. possession; time
e. none of the above
(a; p. 4)

3. ___________ utility refers to the value