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Tutorials - Lecture 1 & 3 - Tutorials Lecture 1 3...

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Tutorials: Lecture 1 & 3 Introduction to Logistics & Transportation by: Granit Berisha September 29, 2011
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Logistics is that part of SCM that plans, implements, and controls the efficient, effective, forward and reverse flow and storage of goods, services, and related information between the point of origin and point of consumption in order to meet customers’ requirements.” SCM encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all Logistics Management activities. Importantly, it also includes coordination and collaboration with
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o By economic utility we mean: a) Product’s being in a form that (1) can be used by the customer and (2) is of value to the customer. b) Having products available where they are needed by the customers; products are moved from points of lesser value to points of greater value. c) Having products available when they are needed by customers. d) The value or usefulness of a product in fulfilling customer needs or wants. e) The value or usefulness that comes from a customer being able to take possession of a product. Multiple Choice
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o By possession utility we mean: a) Product’s being in a form that (1) can be used by the customer and (2) is of value to the customer. b) Having products available where they are needed by the customers; products are moved from points of lesser value to points of greater value. c) Having products available when they are needed by customers. d) The value or usefulness of a product in fulfilling customer needs or wants. e) The value or usefulness that comes from a customer being able to take possession of a product. Multiple Choice
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o By form utility we mean: a) Product’s being in a form that (1) can be used by the customer and (2) is of value to the customer. b) Having products available where they are needed by the customers; products are moved from points of lesser value to points of greater value. c) Having products available when they are needed by customers. d) The value or usefulness of a product in fulfilling customer needs or wants. e) The value or usefulness that comes from a customer being able to take possession of a product. Multiple Choice
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o By place utility we mean: a) Product’s being in a form that (1) can be used by the customer and (2) is of value to the customer.
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