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1.“Some companies use suitable mode of transportation with an acceptable cost to meet customer delivery requirements as well as increase satisfaction for the customer”. As such, the company could be considered a.Productivity but not effective. b.Efficient but not effective. c.Effective but not efficient. d.Reengineering but not productivity Some companies use premium transportation to meet customer delivery requirements. ( cách hỏi khác) 2.Which one includes in order processing activity? a.Negotiate terms and conditions b.Select suitable material handling equipment c.Checking the status of orders. d.Choose the best location for warehouse establishment. 3.The department often measures inventory in terms of its cost or value in dollars, whereas tends to measure inventory in terms of units. a.production; sales b.marketing; logistics c.sales; finance d.financial ; logistics 4.The approach mentions all relevant cost items are considered simultaneously when making a decision. a.interfunctionality b.total cost c.systems d.rhochrematics
CHAPTER 1: OVERVIEW LOGISTICS AND SUPPLY CHAIN “Some companies use suitable mode of transportation with an acceptable cost to meet customer delivery requirements as well as increase satisfaction for the customer” As such, the company could be considered a Productivity but not effective b Efficient but not effective c Effective but not efficient d Reengineering but not productivity "Some companies use premium transportation to meet customer delivery requirements" ( cách hỏi khác) Which one includes in order processing activity? a Negotiate terms and conditions b Select suitable material handling equipment c Checking the status of orders d Choose the best location for warehouse establishment The _department often measures inventory in terms of its cost or value in dollars, whereas _tends to measure inventory in terms of units a production; sales b marketing; logistics c sales; finance d financial ; logistics The _approach mentions all relevant cost items are considered simultaneously when making a decision a interfunctionality b total cost c systems d rhochrematics The _approach indicates that a company's objectives can be realized by recognizing the mutual interdependence of major functional areas a interfunctionality b systems c rhochrematics d supply chain a b c d A cost trade-off is a situation where: some costs are eliminated by efficient management controls all costs are reflected as a percentage variation from standard costs some costs increase and some costs decrease all costs react according to their individual degrees of inflation in the economy A cost trade-off is a situation where: a some costs increase and some costs remain constant b all costs are reflected as a percentage variation from standard costs c The firm accepts for using premium transportation to release more products in their warehouse d some costs are eliminated by efficient management controls utility refers to the value or usefulness that comes from a customer being able to take possession of a product a Form b Time c Place d Possession "How well a company does what it says it's going to do" represents _ a leading edge logistics b efficiency c productivity d effectiveness 10 Logistics costs in Vietnam as a percentage of GDP were estimated at in 2020 a 8.9% b 33.3% c 16.8% d 57.6% 11 Which does include in warehousing activity? a Estimate product demand in the future b Select the carrier who can provide lower freight for the firm c Use appropriate equipment to load unload the products d Basing on featured characteristics of product, the firm' will select the suitable method to store product 12 Which concept refers to the storage of raw materials and movement to the producer? a materials management b supply chain management c physical distribution d inbound logistics 13 Which of the below does belong to logistics cost? a Capital costs b costs from procurement activity c Labour costs d Costs paid for buying machinery 14 _refers to an item that the firm holds with a very large amount of quantity at the same time there is no demand for it a Overstock b Intensive distribution c Stockout d Tailored logistics 15 Logistics costs of bubble manufacturing industry will be compare with logistics costs of automobile manufacturing industry a higher b lower c not different d.equal 16 In transportation activity, how companies can to increase the satisfaction of customers? a Return goods policy Issuance b Design transportation route with very short delivery time c Reply quickly demand for product fixing from customers d Question A & C are correct 17 In the past, which field does logistics not connect with? a cooper b army c soldiery d traveling 18 Process management occurs from placing order of customers, checking the status of products, make announcement for customer about availability of product, packaging the product and delivery the product to customer refers to a Materials Handling b Procurement management c Warehousing location d Order processing 19 Which of the following mentions to contribution of logistics to place utility? a Procter and Gamble of General Mills repackage products during distribulion into special sizes, sample packs, or multi-packs b Online retailers like Amazon.com and Alibaba.com delivery products directly to your home or office c The firm brings a variety of payment methods for the customer such as by cash, money transfer, electronic wallet d Four-day late delivery of apples likely has more serious results than a four-day late delivery of a box of paper 20 Beverages sold in small size presentations are perfects to fit the needs of consumers that are occasionally thirsty, as opposed to big-size presentation that are more suitable for family gatherings or group meetings” is considered for the example of _ a possession utility b time utility c place utility d form utility 21 How many modes of transportation? a b c d 22 Which of the below is the most difficult to control in 7R’s? a right quantity b right time c right place d right product 23 Which of the below does not belong to logistics cost? A Labour costs B Transport costs C Inventory costs D Storage costs 24 Which concept refers to the storage of the final product and movement to the customer? A materials management B supply chain management C inbound logistics D physical distribution 25 Which of the following mentions to contribution of logistics to time utility? a Online retailers like Amazon.com and Alibaba.com delivery products directly to your home or office b The firm brings a variety of payment methods for the customer such as by cash, money transfer, electronic wallet c Four-day late delivery of apples likely has more serious results than a four-day late delivery of a box of paper d Procter and Gamble or General Mills repackage products during distribution into special sizes, sample packs, or multi-packs KAHOOT CHƯƠNG OVERVIEW LOGISTICS AND SUPPLY CHAIN A B C D Logistics clearly contributes to and utility Time, place Place, form Possession, time Form, time Which of the following is not a reason for the increased importance of logistics? A Reduction in economic regulation B Growing power of manufacturers C Technological advance D Globalization of trade What concept refers to “how well company resources are used to achieve what a company promises it can do?” A Efficiency B Productivity C Reengineering D Effectiveness A B C D are stores with large amounts of both floor space and product for sale Mass merchandisers Big-box retailers Power retailers Do-it-yourself (DIY) retailers The four general types of economic utility are production, possession, time and place A True B False Logistics is only concerned with forward flows, that is, those directed towards the points of consumption A True B False Transportation represents the costliest logistics activity in many organizations A True B False The movement and storage of materials into a firm refers to: A Physical distribution B Materials management C Supply chain management D Materials handling “Logistics is the function responsible for controlling the flow of materials from _” A Supplier to producer, and then out to customer B Producer to customer C Producer to wholesaler and retailer D Supplier to producer 10 A B C D The overall aim of logistics is to: Achieve high customers satisfaction High quality service Acceptable cost All answers are right CHAPTER 8: INVENTORY MANAGEMENT Which of the following industries should apply the theory of lean supply chain? A Gasoline in ustry B Technological products C Fashionable goods D Automobile industry Which one of the following statements regarding the Economic Order Quantity (EOQ) is true? A If an order quantity is smaller than the EOQ, the annual holding cost is higher than the annual ordering cost B The EOQ model assumes a variable lead time C Quantity discounts are possible D If an order quantity is smaller than the EOQ, the annual holding cost is lower than the annual ordering cost If an item is ordered at its economic order quantity, the annual carrying cost should be: A equal to the annual ordering cost B slightly less than the annual ordering cost C twice the annual purchase price D the square root of the annual ordering cost The trade-off that exists between carrying and ordering costs is that they respond in opposite ways to the number of orders or size of orders That is, an increase in the number of orders leads to order costs and carrying costs A higher; lower B higher; higher C lower; higher D lower; lower The trade-off that exists between carrying and ordering costs is that they respond in opposite ways to the number of orders or size of orders That is, an decrease in the number of orders leads to order costs and carrying costs A higher; lower B lower; lower C lower; higher D higher; higher The purchase cost of a widget is $10, and the holding rate is 50% of purchase cost; cost of processing an order is $25, annual demand is for 400 widgets, and supply and usage patterns are stable What is the economic order quantity (EOQ)? A 73.45 B 63.24 C 33.24 D 87.62 What concept can be viewed as a combination of processes, functions, activities, relationships, and pathways along which products, services, information, and financial transactions move in and between enterprises from original producer to ultimate end user or consumer? A interorganizational coordination B logistics C operations D supply chain All of the following are suggestions for dealing with dead stock (inventory), except : A aggressive marketing B donate to charities C throw it away D All answers are correct When demand and delivery lead time are known and constant, and demand is nine per day, and purchase lead time is four days, the reorder point is: A 13 B C 32 D 36 Which of the following is the reason that companies hold a supply of inventory? A Companies would like to purchase in bulk to take advantage of quantity discounts B Companies would like to increase inventory costs C Companies would like to increase production change D Companies would like to increase setup costs 10 There are some of the ways that inventory can be reduced in the supply chain except from: A the use of premium transportation B smaller, more frequent orders C Supply-push D the elimination or consolidation of slower-moving products 11 Use this information below to calculate the optimal order quantity: - Annual demand for backpacks is 45,000 units - The cost to place an order is $250 - The per unit cost of the item is $30.00 - The annual holding rate is 27.5% A 1651 units B 834 units C 920 units D 711 units 12 "The wages of the person who takes orders by telephone" is considered as A storage costs B obsolescence costs C shrinkage costs D order costs 13 Which organizational function is not a focus of the Supply Chain Operations Reference (SCOR) model? A warehousing B logistics C procurement D operations 14 Which of the following is an example of a carrying cost for products purchased from a supplier? A the cost of pilferage while in storage B the cost associated with processing the invoice C the cost of transmitting the order D the cost of clerical staff for preparing the purchase Which of the following is an example of an ordering cost for products purchased from a supplier? A B C D The cost of clerical staff for preparing the purchase The cost of pierogi while in storage The cost associated with damaged products due to out of date The cost of buying insurance 15 Which of the following are characteristics of an agile supply chain? A an organization's ability to respond to changes in demand with respect to volume and variety B eliminating all waste, including time, and to ensure a level schedule C an organization's ability to respond to o changes in demand with respect to quantity and quality D apply when customer demand is relatively stable and variety is low 16 Dead inventory refers to a product for which there is no sales during a period A 12 month B month C month D month 17 What is meant by ABC analysis of inventory? A ABC analysis of inventory is o synonymous with vendor-managed inventory B All inventories are not of equal value to a firm and, as a result, all inventory should not be managed in the same way C All inventories are equal value to a firm O and, as a result, all inventory should be managed in the same way D ABC analysis of inventory is an alternative to the EOQ model 18 The order of product flow in the supply chain is as follows: A Component manufacturer, raw material supplier, retailer, wholesale distributor, end product manufacturer, end-product consumer B Raw material supplier, retailer, component manufacturer, wholesale distributor, end product manufacturer, end-product consumer C Raw material supplier, component manufacturer, end product manufacturer, wholesale distributor, retailer, end-product consumer D Raw material supplier, component manufacturer, retailer, wholesale distributor, end product manufacturer, end-product consumer 19 Which of the following is FALSE? A The boomerang effect refers to variability in demand orders among supply chain members B The supply chain concept originated in the logistics literature C The SCOR model identifies six key processes including plan, source, make, deliver, return, and enable associated with supply chain management D Supply chain disruptions (e.g., terrorist attacks, natural disasters) have caused some supply chains to reassess their emphasis on inventory reduction 20 Holding low levels of inventory result in _ inventory carrying costs and some stockout costs A High, low B Constant, low C Low, high D High, constant 21 Which of the following is NOT a reason that companies hold a supply of inventory? A Companies would like to increase inventory costs B Companies would like to get more profit when buying the product at lower price and selling at higher price C Companies would like to purchase in bulk to take advantage of quantity discounts D Companies would like to meet an increasing demand of customer 22 Which of the following method that the firm can apply to reduce inventory through the supply chain? A Break orders with smaller quantities, and place frequently B Supply-push C The use of poor transportation D The firm does not deal with slower - moving products d consolidating small shipments into larger ones likely results in higher inventory carrying costs e all of the above are true 29 Demurrage charges are collected by railroads, , and a motor carriers, pipelines b water carriers, pipelines c motor carriers, water carriers d airlines, pipelines 30 Which of the following statements is false? a detention is similar to demurrage, except that detention applies to pipelines b demurrage is a penalty payment made to a railroad for keeping equipment beyond the time it should be released c averaging agreements can be used with demurrage d carriers and shippers can negotiate demurrage / detention policies e all of the above are true 31 U.S freight railroads currently allow hours of free time for unloading railcars and hours of free time for loading railcars a 24, 24 b 24, 48 c 48, 24 d 48, 48 32 can be defined as the process of determining how a shipment will be moved between origin and destination a tracking b recoupering c transportation d routing 33 A provides a variety of shipment information such as shipment preparation, freight invoicing, a list of preferred carriers, and a list of which carrier or carriers to use for shipments moving between two points a freight book b routing guide c tariff d bill of lading 34 refers to determining a shipment’s location during the course of its move ©2011 Pearson Education, Inc publishing as Prentice Hall a expediting b recoupering c reparation d tracking 35 refers to rapidly moving a shipment through a carrier’s system a expediting b recoupering c fast logistics d cross-docking True-False Questions Today’s transportation manager can play an active role in blending the appropriate pricing and service packages for his / her organization (True) Routing refers to the buying and controlling of transportation services by a shipper or consignee (False) Freight transportation accounts for approximately 10% of U.S gross domestic product (False) A rate is the logistics term that signifies the price charged for freight transportation (True) A transportation charge (the cost of transportation) can be calculated by multiplying a product’s weight times the applicable rate (True) A commodity rate is very good for dealing with demand-specific situations (True) The class rate system simplifies with respect to three primary factors—density, product, and distance (False) The National Motor Freight Classification has 18 separate classes, or ratings, from Class 50 to Class 600 (False) Ease of handling is one of the four factors used to determine a product’s freight classification (True) 10 Liability to damage and theft is viewed as the primary factor in setting a product’s freight classification (False) 11 Volume refers to how heavy a product is in relation to its size (False) ©2011 Pearson Education, Inc publishing as Prentice Hall 12 Stowability refers to how easy a commodity is to pack into a load (True) 13 An item with a freight classification of Class 200 will be charged a higher rate than an item with a freight classification of Class 100 (True) 14 With respect to a commodity’s freight classification, shippers tend to prefer a higher classification number while carriers tend to prefer a lower classification number (False) 15 The price and service trade-offs available to today’s transportation manager are limited only by her / his creativity and ingenuity (True) 16 With FOB origin pricing, the seller retains title and control of the shipment until it is delivered (False) 17 A disadvantage of FOB destination pricing from a seller’s perspective is that the seller’s organization must have a thorough knowledge of transportation management (True) 18 Because transportation costs tend to be lower per unit of weight for larger shipments, there is a natural motivation to consolidate smaller shipments into larger ones (True) 19 The carrier selection procedure appears to be less straightforward than the procedure for modal selection (True) 20 Transit time reliability is the most important factor that shippers tend to use when selecting carriers (False) 21 An amodal shipper refers to the use of a logistics intermediary to make the relevant transportation decisions (False) 22 Transportation documentation serves both a practical function (e.g., what, where, and how much is being transported) as well as potentially providing legal recourse if something goes awry (True) 23 The most important single transportation document is the bill of lading (True) 24 An order bill of lading specifies the consignee (False) 25 Order bills of lading can be used when faced with slow-paying customers (True) 26 The bill of lading is an invoice, submitted by the carrier, requesting to be paid (False) 27 Freight bill audits are designed to detect errors that result in overcharges and to correct those errors in the future (True) ©2011 Pearson Education, Inc publishing as Prentice Hall 28 A freight claim must be filed within six months of the shipment’s delivery date (False) 29 Suppose that a shipment of products destined for a particular retailer is lost or damaged If these products were going into general inventory replacement stock, then the retailer is entitled to recover the wholesale price plus freight costs (if they were paid) (True) 30 Concealed loss and damage claims are some of the most difficult for shippers and carriers to handle (True) 31 The volume of transportation freight claims has increased in recent years (False) 32 Small shipments refer to those that can be handled relatively expeditiously and inexpensively by a small package carrier (False) 33 From a carrier perspective, there may be a reluctance to accept small shipments because they tend to require a high degree of manual labor (True) 34 Demurrage is a penalty payment associated with railroads, while detention is a penalty payment associated with motor carriers (True) 35 U.S freight railroads currently allow 24 hours of free time for unloading rail cars and 48 hours of free time for loading rail cars (False) 36 In demurrage-related averaging agreements, slow equipment returns can be offset by fast equipment returns (True) 37 A routing guide can provide a variety of shipment-related information such as shipment preparation and a list of preferred carriers for shipment moving between two points (True) 38 Expediting refers to determining a shipment’s location during the course of its move (False) 39 Expedited shipments by motor carriage can sometimes provide faster and more reliable service than expedited shipping involving air transportation (True) 40 Some transportation managers utilize performance scorecards that contain a list of relevant attributes and an evaluation of each carrier on every attribute (True) ©2011 Pearson Education, Inc publishing as Prentice Hall ©2011 Pearson Education, Inc publishing as Prentice Hall 10 PART III EXAMINATION QUESTIONS CHAPTER 14: INTERNATIONAL LOGISTICS Multiple Choice Questions (correct answers are bolded) refers to the sum of the gross domestic product of all countries a net world product b world net income c gross world product d gross world income are taxes that governments place on the importation of certain items a tariffs b surcharges c reciprocities d embargoes Which of the following is not a political restriction on international trade? a embargoes b import quotas c barring certain types of shipments d tariffs e all of the above are political restrictions What we call a system of accounts that records a country’s international financial transactions? a tariffs b balance of payments c import / export accounts d gross domestic product Cargo preference rules a are synonymous with embargoes b indicate how each shipment should be loaded into a transport vehicle c indicate a shipper’s preferred carrier(s) d require a certain percentage of traffic to move on a nation’s flag vessels e none of the above ©2011 Pearson Education, Inc publishing as Prentice Hall When one country’s currency is weak relative to other currencies, a it becomes more costly to import products to the country, but its exports surge b both imports and exports surge c it becomes more costly to export products from the country, but its imports surge d it becomes more costly to import and export products Which of the following is not true of sachets? a they can be easier to lose b they are more prone to theft c different packaging is needed d they tend to be sold in higher-income countries e all of the above are true A is used in areas where dockworkers cannot read but need a method to keep documents and shipments together a RFID tab b shipper’s mark c shipment coordinator d bar code Which of the following is not a cultural factor that can influence international logistics? a language b time orientation c population d national holidays e all of the above are cultural factors 10 A specifies the country (ies) in which a product is manufactured and can be required by governments for control purposes or by an exporter to verify the location of manufacture a commercial invoice b waybill c certificate of origin d shipper’s export declaration ©2011 Pearson Education, Inc publishing as Prentice Hall 11 A is similar in nature to a domestic bill of lading and summarizes the entire transaction a certificate of origin b commercial invoice c shipper’s letter of instruction d shipper’s export declaration e none of the above 12 A often serves as the basis for a country’s official export statistics a shipper’s export declaration b carnet c certificate of origin d commercial invoice 13 Incoterms refer to a standardized procedures for handling international shipments b standardized international trade terminology c a specific method of payment for international shipments d terms of sale for international shipments 14 Incoterms are generally revised approximately every years a 25 b 20 c 10 d 15 distinct international methods of payment exist a 10 b c d e none of the above 16 What international method of payment is issued by a bank and guarantees payment to a seller provided that the seller has complied with applicable terms and conditions of the particular transaction? a a bill of exchange b a letter of credit c forfaiting d an open account ©2011 Pearson Education, Inc publishing as Prentice Hall 17 International freight forwarders can provide a number of functions Which of the following is not one of them? a booking space on carriers b preparing an export declaration c arranged for insurance d preparing and sending shipping notices and documents e all of the above are possible functions 18 Consular documents a involve obtaining permission from the importing country for the goods to enter b must be filed for every export shipment c can be used in place of a shipper’s export declaration d list the shipper, consignee, commodity (ies), and place of export e none of the above 19 Which of the following is not a source of income for international freight forwarders? a payment for freight pick up and delivery b buying space wholesale and selling it retail c commissions on shipping revenues generated for carriers d fees for document preparation and performing research d all of the above are sources of income 20 Which international logistics service provider is often confused with the international freight forwarder? a customshouse broker b non-vessel operating common carrier c export management company d export trading company 21 act the export sales department for a manufacturer a international freight forwarders b shippers associations c export management companies d export trading companies 22 An custom packs shipments when the exporter lacks the equipment or the expertise to so itself a export management company ©2011 Pearson Education, Inc publishing as Prentice Hall b export trading company c international freight forwarder d export packer e none of the above 23 The cost of sending a shipment by air transportation from China to the United States can be times more expensive than sending a shipment by water transportation between the two countries a 2-4 b 4-6 c 6-8 d 8-10 24 Approximately of cross-border shipments move by water transportation a 40% b 50% c 60% d 70% 25 As of 2012, is the world’s busiest container port a Singapore b Shanghai c Hong Kong d Shenzhen 26 refer to major ports where thousands of containers arrive and depart each week a load centers b break-bulk centers c consolidation points d hubs 27 Shipping conferences refer to a annual meetings of large international shippers b international shippers’ associations c cartels of ocean vessel operators operating between certain trade areas d water ports that are located in the same geographic area 28 Ocean carrier alliances provide two primary benefits to participating members, namely, the sharing of vessel space and a anti-trust immunity ©2011 Pearson Education, Inc publishing as Prentice Hall b the ability to offer shippers a broader service network c lower rates d faster transit times e none of the above 29 Integrated air carriers a perform transportation in tightly linked supply chains b are those that own several modes of transportation c utilize the services of scheduled airlines d own all their vehicles as well as pick up and delivery facilities 30 Which of the following is not open for negotiation in a bilateral air agreement? a the carriers that will service particular city pairs b the types of aircraft to be used c the number of flights between the two countries d the total number of seats to be offered e all of the above are open for negotiation 31 Which countries rank first, second, and third, respectively in terms of highway mileage? a United States, China, India b China, India, United States c China, United States, India d Russia, United States, China 32 Which of the following statements is false? a in China, freight is often given lower priority than passengers in rail transportation b China ranks first in the world in terms of highway mileage c highway freight transportation can be provided by animals and carts in some countries d some countries limit a motor carrier’s operations to within a particular state’s borders e all of the above are true 33 Short-sea shipping is widely accepted and practiced in a North America b South America c Europe d Asia ©2011 Pearson Education, Inc publishing as Prentice Hall 34 Which of the following statements about international inventory management is false? a product return policies are a concern b inventory valuation is difficult because of continually changing exchange rates c safety stocks generally need to be larger d inventory for sale in one nation generally serves the needs of markets in nearby nations e all of the above are true 35 The Logistics Performance Index a was created in recognition of the importance of logistics in international trade b measures a company’s logistics cost as a percentage of its total cost c compares inventory turnover for major retailers d applies the Balanced Scorecard approach to international logistics activities True-False Questions Gross world product refers to the sum of the gross domestic product of all countries (True) The ratio of merchandise exports to gross world product is currently approximately 20% (False) Tariffs refer to taxes that governments place on the importation of certain items (True) The primary purpose of a nontariff barrier is to encourage exports (False) Embargoes are physical limits on the amount that may be imported from any one country during a period of time (False) Some nations with weak balance-of-payment positions issue an import license on the condition that the goods move on an aircraft or vessel flying that nation’s flag (True) Cargo preference rules indicate how each shipment should be loaded into a transport vehicle (False) When one country’s currency is weak relative to other currencies, it is more costly to import products into that country (True) Sachets (single-use packets) require different packaging and are easier to lose and more prone to theft than products sold in larger quantities (True) ©2011 Pearson Education, Inc publishing as Prentice Hall 10 Albania and Montenegro are currently candidates to be admitted to the European Union (False) 11 It might not be unusual for cargo handlers in some countries to be illiterate (True) 12 National holidays have no impact on the effectiveness and efficiency of international logistics (False) 13 The documentation requirements for international shipments can act as a nontariff barrier to trade (True) 14 A certificate of origin specifies the country (ies) in which a product is manufactured (True) 15 A shipper’s letter of instruction contains relevant export transaction data such as the transportation mode(s), transaction participants, and description of what is being exported (False) 16 Some free trade agreements have actually resulted in an increase in documentation requirements (True) 17 Incoterms 2010 now divides terms of sale into two groups, one of which applies to any mode of transport and the other which applies to sea and inland water transport only (True) 18 The use of Incoterms is mandatory for international shipments (False) 19 Four distinct international methods of payment (e.g., letters of credit) exist (True) 20 An open account is of minimal risk to the seller and extremely risky to the buyer (False) 21 Consular documents involve obtaining permission from the importing country for goods to enter (True) 22 International freight forwarders’ income comes from two primary sources (False) 23 From a shipper’s perspective, a non-vessel operating common carrier (NVOCC) is a carrier; from an ocean carrier’s perspective, an NVOCC is a shipper (True) 24 Export trading companies act as the export sales department for a manufacturer (False) 25 Export packers custom pack shipments when the exporter lacks the equipment or expertise to so itself (True) ©2011 Pearson Education, Inc publishing as Prentice Hall 26 International transportation cannot be effective or efficient without fairly identical handling equipment being in place at each end of the trip (True) 27 Approximately 75% of cross-border shipments move by water transportation (False) 28 In terms of container throughput, Shanghai is the world’s busiest container port (True) 29 Load centers refer to major ports where thousands of containers arrive and depart each week (True) 30 Shipping conferences refer to annual meetings of large international shippers (False) 31 Ocean carrier alliances provide two primary benefits to participating members, namely, the sharing of vessel space and lower rates (False) 32 Integrated air carriers own all their vehicles and the facilities that fall in between (True) 33 Bilateral agreements liberalize international aviation opportunities and limit federal government involvement (False) 34 China ranks first in the world in terms of highway mileage (False) 35 Some countries conduct inspections of trucks as they move from one state to another (True) 36 Drayage refers to ocean shipping, often along a region’s coast, rather than across oceans (False) 37 Because greater uncertainties, misunderstandings, and delays often arise in international movements, safety stocks must be larger (True) 38 Inventory valuation on an international scale is difficult because of continually changing exchange rates (True) 39 Germany ranked first in overall performance in the most recent Logistics Performance Index (False) 40 The Logistics Performance was created in recognition of the importance of logistics in international trade (True) ©2011 Pearson Education, Inc publishing as Prentice Hall ©2011 Pearson Education, Inc publishing as Prentice Hall 10