QUESTION: 25

Which of the following statements best reflects the intent of a shipper and a carrier who are negotiating a contract utilizing the integrative bargaining technique?

The shipper is integrating its shipping needs and the carrier is integrating its market power to achieve better contract terms individually.
The shipper and the carrier are attempting to understand each other's needs to create mutually beneficial contract terms.
The shipper and the carrier are making an integrated effort to make extreme demands followed up by small, slow concessions.
The shipper and the carrier are in direct conflict with each other's goals and are attempting to take advantage of each other.

Answer(s): A

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QUESTION: 26

In the economic utility function of logistics, logistics adds:

form and time utilities to products, while other activities add place and possession utilities.
possession and place utilities to products, while other activities add form and possession utilities.
place and time utilities to products, while other activities add form and possession utilities.
possession and form utilities to products, while other activities add time and place utilities.

Answer(s): C

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A corporation is projecting annual sales at $35 million, cost of goods sold (COGS) at $25 million, and administrative expenses at $3 million. In order to meet its corporate inventory turns goal of 5.0, their inventory level must average: