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Which of the following outcomes of warehouse operations is the most critical in designing a warehouse?

A.
Optimizing product flow
A.
Optimizing product flow
Answers
B.
Minimizing warehousing cost
B.
Minimizing warehousing cost
Answers
C.
Increasing inventory counting
C.
Increasing inventory counting
Answers
D.
Maximizing automation
D.
Maximizing automation
Answers
Suggested answer: C

Which of the following terms of payment should an international purchasing manager use to guarantee that the shipment is made and the shipper gets paid for their product?

A.
Letter of credit
A.
Letter of credit
Answers
B.
Open account
B.
Open account
Answers
C.
Sight draft
C.
Sight draft
Answers
D.
Cash in advance
D.
Cash in advance
Answers
Suggested answer: D

A document that serves as a contract, a receipt, and a certificate of title in an international transaction is known as a:

A.
certificate of origin
A.
certificate of origin
Answers
B.
manifest
B.
manifest
Answers
C.
packing list
C.
packing list
Answers
D.
bill of lading (B\L)
D.
bill of lading (B\L)
Answers
Suggested answer: D

The international commercial document that serves as a quote to obtain a letter of credit or an import license is called a(n):

A.
commercial invoice
A.
commercial invoice
Answers
B.
pro forma invoice
B.
pro forma invoice
Answers
C.
export license
C.
export license
Answers
D.
consular invoice
D.
consular invoice
Answers
Suggested answer: A

A vessel operating under the threat of piracy or hostile military action is protected by the:

A.
United Nations (UN) military forces.
A.
United Nations (UN) military forces.
Answers
B.
country closest to the vessel at the time of attack.
B.
country closest to the vessel at the time of attack.
Answers
C.
shipping company registry.
C.
shipping company registry.
Answers
D.
naval forces of the flag of registry.
D.
naval forces of the flag of registry.
Answers
Suggested answer: D

A company has prioritized A, B, and C, filling orders in that sequence. What are the impact to customer service levels for customers B and C?

A.
100% service levels for B and C
A.
100% service levels for B and C
Answers
B.
Customer B has higher service level
B.
Customer B has higher service level
Answers
C.
Customer C has higher service level
C.
Customer C has higher service level
Answers
D.
Customer B and C have the same service level
D.
Customer B and C have the same service level
Answers
Suggested answer: B

Which of the following modes of transportation is characterized as having the highest fixed cost and lowest variable cost?

A.
Air
A.
Air
Answers
B.
Water
B.
Water
Answers
C.
Rail
C.
Rail
Answers
D.
Pipeline
D.
Pipeline
Answers
Suggested answer: D

Procurement professional are focused on the total cost of ownership (TCO) in their vendor selection strategies. This implies that:

A.
procurement is now increasingly charged with pushing back inventory to vendors.
A.
procurement is now increasingly charged with pushing back inventory to vendors.
Answers
B.
there is increased consideration of trade-offs among purchase price, quality, and vendor capability.
B.
there is increased consideration of trade-offs among purchase price, quality, and vendor capability.
Answers
C.
procurement is decreasing its emphasis on the importance of vendor certification and audit programs.
C.
procurement is decreasing its emphasis on the importance of vendor certification and audit programs.
Answers
D.
there is increased emphasis on procuring at the lowest purchase price possible.
D.
there is increased emphasis on procuring at the lowest purchase price possible.
Answers
Suggested answer: C

Higher throughput operations enable private warehouses to:

A.
spread out variable costs over large output volumes
A.
spread out variable costs over large output volumes
Answers
B.
spread out fixed costs over large output volumes.
B.
spread out fixed costs over large output volumes.
Answers
C.
allocate total unit costs on the basis of traffic volume.
C.
allocate total unit costs on the basis of traffic volume.
Answers
D.
accomplish better facility utilization with declining overheads.
D.
accomplish better facility utilization with declining overheads.
Answers
Suggested answer: D

Which of the following activities best describes the functionality of decoupling stock within firms’ inventory systems?

A.
Separation of the manufacturing process from order processing
A.
Separation of the manufacturing process from order processing
Answers
B.
Separation of the manufacturing process from the selling process.
B.
Separation of the manufacturing process from the selling process.
Answers
C.
Maintaining inventory to accommodate uncertainty in demand at different geographical positions.
C.
Maintaining inventory to accommodate uncertainty in demand at different geographical positions.
Answers
D.
Maintaining inventory at a central location for all stages of the value-creation process.
D.
Maintaining inventory at a central location for all stages of the value-creation process.
Answers
Suggested answer: A
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