3. Firms sometimes ignore the total cost of ownership for which reasons? A. Some firms use metrics promoting lower unit costs B. Lower unit costs will provide greater economies of scale C. Ordering costs are minimal with e-procurement D. Tooling costs are always the same regardless of which supplier you use 4. Which of the following is a reason to outsource (buy) a product instead of making it within the firm? A. The product is proprietary technology developed by your firm B. Better quality control C. Strategic benefits of using best-in-class suppliers D. None of these 5. What is the most significant tradeoff specific to logistics? A. Balancing supply and demand B. Balancing the needs of the public and private domain rights C. Faster modes require higher prices D. Less handling reduces costs 6. Legislation has decreased regulation of logistics prices but has increased regulation of which of the following? A. RFID usage B. Safety issues such as the amount of time a driver can operate without a break C. Social media applications D. Exempt carriers 8. Analyzing the critical path of a project provides which benefit? A. Identifies the fastest path to complete the project B. Displays work in a horizontal bar graph C. Identifies tasks for the work breakdown structure D. Prioritizes which activities to more closely manage 9. Using the critical path method for project management, the critical path should have… A. The most slack of any path in the project B. At least one unit (day/week/month etc.) of slack C. Zero slack D. Not enough information to finish the statement 10. A chase strategy provides which benefit? A. Retain long term employee relations thereby improving quality B. Variable production to meet unpredictable demand C. Pulls ahead peak forecasted demand to create inventory buffers D. Increases prices by creating scarcity

3. Firms sometimes ignore the total cost of ownership for which reasons? A. Some firms use metrics promoting lower unit costs B. Lower unit costs will provide greater economies of scale C. Ordering costs are minimal with e-procurement D. Tooling costs are always the same regardless of which supplier you use 4. Which of the following is a reason to outsource (buy) a product instead of making it within the firm? A. The product is proprietary technology developed by your

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