Logistics Module 1 – Flashcards
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what are the 7 Right's of logistics
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right product right customer right time right condition right quantity right place right cost
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what is logistics management according to CSCMP (council for supply chain management)
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part of supply chain management that plans, implements, and controls, the efficient, effective forward, and reverses flow and storage of goods, services, and related information between point of origin and point of consumption in order to meet customer's requirements
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what are the 5 utilities logistics affects?
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possession utility, time utility, form utility, place utility quantity utility (refer to notes for specifics)
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logistics creates value through what 3 things
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movement, storage, and procesing
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who has the most efficient, lowest costs logistics system
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the United States
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how does poor infrastructure affect logistics
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greater uncertainty in lead times and higher level of obsolence
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has logistics as a percentage of GDP increased or decreased since the 80's? logistics costs?
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as percentage of GDP- decreased (greater efficiency) as flat costs- increased (overall economy growth)
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What utility does production, marketing, and logistics place in the SC?
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production-form utility marketing-possession utility logistics-place, time, qty utility
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what are the different types of logistics
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event passenger military service humanitarian
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what does the word cube mean in logistics
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the space that a product takes up
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what is cube out vs. weight out
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cube out-fill up bc of space (light items) weigh out-fill up bc of weight limit (heavy items)
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what is lean
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to eliminate waste, get rid of things that do not add value to the customer, increase efficiency
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what are the 8 wastes?
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1. defects 2. overproduction (giving customer more product than ordered) 3. waiting 4. not utilizing staff talent 5. transportation 6. inventory (holding exceee finished goods, high levels of saftey stock) 7. motion (movement of people that does not add value) 8. excess processing (excess packaging, paper bills)
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people who are involved in day to day process, know how a process works
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what is a kaizen event
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what is the 5S Methodology?
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Sort, simplify, sweep, standardize, sustain (listen to employee feedback)
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what is the highest logistics cost in 2015
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transportation
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what is the total cost concept
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view the sum of logistics operations as a system and seek to minimize the total cost of the system rather than individual functions (stereo system ex)
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how does increasing the number of warehouses affect inventory cost, transportation cost and loss of sale
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increases inventory cost decrease transportation/ cost of lost sales
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how does using a faster mode of transportation affect the cost of lost sales
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cost of lost sales decreases
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how are lot qty cost and inventory carrying costs related
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inversely
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how does investment in information technology affect cost of lost sales
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it decreases
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What is logistics management according to GSCF (Global Supply Chain Forum)
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the integration of key business processes from end user through original suppliers that provide products, services, and information that add value for customers and other stakeholders
