GSC 5600 Final

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ec9366
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189677
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GSC 5600 Final
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2012-12-16 20:49:15
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GSC 5600
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Chapters 9 - 14
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  1. What are some effects of Transport Disruptions?
    – Inventory (safety stock) increases

    – Decreases in asset turnover

    – Lower operating performance levels

    – Stock price declines of nearly 9%
  2. What is Transportation risk?
    Future freight movement event with a probability of occurrence and the potential for impacting supply chain performance
  3. What are some examples of Risk Management?
    • - Proactive planning a route to avoid likely delays
    • - Developing a planned response for replacement inventory in event of an accident
  4. What is BCP?
    • (Business Continuity Planning)
    • –The processes and procedures an organization puts in place to ensure that essential functions can continue during and after a disruption or disaster
    • –Includes advance planning to develop readiness plans in event of a disruption
  5. For Risk Management and BCP to be effective, what is required from Top Management?
    Commitment of Time, Expertise, Financial resources, Frequent revision, & Continuous improvement
  6. What are the 4 steps of the Risk Management process?
    • – Risk identification
    • – Risk assessment - evaluate impact and place priorities on identified risks
    • – Risk mgmt. strategies: Create plans for cost effective
    • mitigation and management of risks
    • – Risk review, monitoring, and updating
  7. What are some techniques for the Risk Identification step in RM?
    • - Brainstorming
    • - Individual Interviews / Surveys
    • - Historical Data
  8. What are some of the Broad Risk categories?
    • - Product loss
    • - Delivery delay
    • - Product damage 
    • - Supply chain interruption
    • - Contamination 
    • - Security breach
  9. What are some characteristics of RM strategies?
    • –Should be consistent with overall supply chain and corporate strategies
    • –Must focus on high priority risks
    • –Should be cost-effective and time-effective
  10. What did the Maritime Trans. Security Act of 2002 do?
    • - Protect U.S. ports and waterways from terrorists attack
    • -Required Tankers and vessels to have security plans that are updated every 5 years
    • - Vessel Tracking
    • - All at risk ports must have security plans
  11. What is CSI?
    • (Container Security Initiative)
    • - Addresses terrorist threat to use maritime containers for delivering weapons
  12. What is C-TPAT?
    Improve international supply chain and U.S. border security through voluntary govornment / business cooperative relationships
  13. Who is the Largest Trading partner?
    • The U.S
    • (Exports $1.3 trillion, Imports $2.1 trillion)
  14. What is the differtence between Bi-Lateral agreements and Regional Trade agreements?
    • Bi-Lateral: agreement between 2 countries
    • Regional: agreement between 3 or more nations
  15. What is NAFTA?
    • -Regional Trade agreement between U.S, Mexico, & Canada
    • - Enhanced cross-border movement of goods/services
  16. What is the significance of Terms of Trade?
    • - Define where responsibilities transfer from exporter to importer
    • - Govern decision making authority for movement of the product
    • - Establish when and where ownership and title of goods pass from exporter to importer
    • - Clarifies which organization incurs delivery-related costs
  17. When is it appropriate to transfer your risk via insurance?
    • - If goods shipped are susceptible to damage
    • - Carriers commonly deliver damaged or lost freight
    • - If damaged shipments greatly impact the frieght owner
  18. What is a Letter of Credit (LC)?
    • - Ensures exporter is paid and importer receives goods as
    • expected
  19. What are the 4 different types of Freight Documents?
    • - Invoices
    • - Transportation
    • - Import
    • -Export
  20. What are some Carrier Slection Strategies?
    • – Leverage transportation dollars by using a limited number of carriers
    • – Build relationships with service providers
    • – Monitor carrier performance, rates, and financial stability
    • – Have contingency plan with back-up carriers
  21. Explain Direct Service in Global frieght
    • - Direct origin-destination (one country to another country shipment), no interim stops-offs
    • - Typically between bordering countries
    • - Single mode of transport, typically motor carrier
  22. Explain Indirect Service in Global freight
    • - Typically, shipment requires multiple modes, i.e. intermodal transportation
    • - Multiple interim stops required to transfer freight between carriers or modes
  23. What is Intermodal Transportation?
    • - Two or more modes used to move shipment from origin to destination
    •   
  24. What are the most common Intermodal combinations?
    • Pick Up: Truck => Truck or Rail => Truck
    • Linehaul: Air => Ocean => Rail
    • Delivery: Truck => Truck or rail => Truck
  25. What are the primary frieght types?
    • - Containerized: freight loaded into containers
    • - Transload: handled individually (Ocean, Rail, Pipeline)
  26. What is a Land Bridge?
    - Movement from one seaport to another substituting rail for portion of ocean trip
  27. What are some potential in-transit problems to protect against?
    • –Breakage
    • –Moisture
    • –Pilferage
    • –Excess weight
  28. What is the Air Cargo Tariff (TACT)
    • – Provides general guidelines for rate setting
    • – Carriers not required to use guidelines, major carriers do not
    • - Includes three types of rates: General cargo rates, class rates, commodity rates
  29. What is Outsourcing?
    Substituting external specialists for in-house capabilities
  30. Define a 3PL
    • (Third Party Logistic)
    • - An external supplier that performs all or a part of a company’s logistics functions
    • - Services: Inverntory management, warehousing,  financial, transportation
  31. What are the foundation services for 3PL's?
    • -Transportation
    • -Distribution
    • -Forwarder
    • -Financial
    • -Information
  32. What are some advantages of a company using a 3PL service?
    • - 3PL maintains direct control over shipper’s freight
    • - 3PL has ready access to capacity
    • - Fewer organizations to work through to resolve problems
  33. What are the 4 principle Transportation services of 3PL's
    • - Freight Movement
    • - Frieght Management
    • - Intermediary Services
    • - Specialty Services
  34. What is Pool Distribution?
    • –Large quantity of freight moved as one shipment in bulk to central distribution point
    •       -Competes with LTL services
    •       - Faster transit time, Less handling, Lower rates
  35. What are the 6 steps to forming a 3PL relationship?
    • 1. Perform Strategic Assesment
    • 2. Descision to form Relationship
    • 3. Evaluate alternatives
    • 4. Select Partners
    • 5. Structure Operating Model
    • 6. Implementation and improvement
  36. What is Private Air Travel primarily used for?
    • - Used to transport people
    • - Emergency freight shipments
  37. What are Private Water Transports used for?
    - Used to move large volumes of low value products
  38. Most Oil Pipelines are private transport carriers ( T / F )
    False
  39. Why would a company use Private trucking? (What are some risks)
    • - Potential for improved service
    • - Greater control
    • (Risks: Ties up capitol, Seller bears risk, maintenance      responsibilities increased)
  40. Congestion in transportation ___________ Supply Chain costs
    Increases
  41. Due to congestion, the demand of what 2 types of services has increased?
    • - Trailer on Flatcar (TOFC)
    • - Container on Flatcar (COFC)
  42. What is a "Carbon Footprint"?
    The amount of Carbon Dioxide emmision you release
  43. What is the sensitivity to fuel cost of the major transportation modes?
    • - Motor Carriers: Very fuel intensive
    • - Air Carriers: The Most fuel sensitive amongst all
    • - Water Carriers: Relatively fuel efficient
    • - Rail Carriers: Relatively fuel efficient
    • - Pipeline carriers: Relatively fuel efficient

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