Contemporary Logistics Chapter 1

LOG 110

18 January 2015

CHAPTER 1

1. No it really didn’t surprise me that logistics has had such an important impact on the economy. Being in the military and traveling around the world I have seen countries with a poor infrastructure and how logistically handicapped some of these countries are. PG 2-3

3. Logistics contributes to time and place utility by moving a product from a lesser value to a higher value place at the correct time for that specific product. PG 3-4

5. Logistics purpose of meeting customer requirements is significant due to the fact that companies are getting their wants and needs met. How those wants and needs are being met are very important whether it is through mass logistics or tailored logistics.PG 5

7. The deregulation of the transportation industry provided companies with the ability to implement the tailored logistic approach. It also allowed transportation services to reduce their cost in turn allowing a flexibility cost. PG 6

9. The big buy retailers are trendsetters by exploring and implementing the CPFR and CPFR initiatives. They have also played an important role in addressing environmental and social issues of logistics. PG 8

11. Material management is the movement and storage of materials into a firm and physical distribution is the storage of finished product and movement to the customer. PG 9

13. Cost trade-offs are changes to one logistics activity cause some costs to increase and other to decrease. I do believe it is workable but dependent on how it effects the companies, firms and customers. PG 10

15. The postponement concept delays value added activities until the latest possible time. I have actually seen this take place at warehouse environment and the added equipment and specific items used reduce time and quality of product on arrival to the customer.PG 12

17. The interaction between logistics and marketing focus on place decisions,...