Which of these is an eternal truth about forecasting?

Question $1$Answer

a$.$

Given the choice between a direct calculation and a forecast, you should opt for a forecast

b$.$

Forecasts for the near term tend to be more accurate

c$.$

Forecasts are usually accurate

d$.$

Forecasts for individual products tend to be more accurate than for groups of products.

What is the best way to meet and achieve customer expectations?

Question $1\mathrm{.}2$Answer

a$.$

Put yourself in the customer's shoes and look at your behaviour from their perspective.

b$.$

Be fast. Get in and out as quickly as you possibly can so that you cannot lose a sale

c$.$

Don't talk to the customer, focus on looking for the new one

d$.$

All of the above

In the product life cycle, the emphasis in marketing mix during growth stage is

Question $1\mathrm{.}3$Answer

a$.$

Distribution.

b$.$

Promotion.

c$.$

Price.

d$.$

Cost reduction.

A business getting good value when buying products means that it will;

Question $1\mathrm{.}4$Answer

a$.$

Always get the cheapest price

b$.$

Always get the highest quality

c$.$

Get the right balance between price and quality

d$.$

Charge its customers the lowest price possible

Capacity planning, within logistics management, will be influenced the most by$\_\_\_$

Question $1\mathrm{.}5$Answer

a$.$

available resources

b$.$

competitor activities

c$.$

customer locations

d$.$

management knowledge

Producing and delivering goods is under which function of an organization?

Question $1\mathrm{.}6$Answer

a$.$

Finance

b$.$

Operations

c$.$

Marketing

d$.$

Transportation

Activities which are undertaken before the final operation are termed$\_\_\_\_$activities.

Question $1\mathrm{.}7$Answer

a$.$

Upstream

b$.$

Primary

c$.$

Secondary

d$.$

Downstream

The logistical objective that ensures a proper balance between total logistics cost and a desired level of customer service performance is

Question $1\mathrm{.}8$Answer

a$.$

Right response.

b$.$

Right quality.

c$.$

Right cost trade off.

d$.$

Right information.

The purchasing of raw materials, goods and services for a business is known as$\_\_\_$

Question $1\mathrm{.}9$Answer

a$.$

Procurement

b$.$

Logistics

c$.$

Distribution

d$.$

Buying

Which of the following is not an area of responsibility for a logistics manager?

Question $1\mathrm{.}10$Answer

a$.$

Inventory

b$.$

Purchasing

c$.$

Warehousing

d$.$MARKETING