Chapter 03 物流系统

Chapter11.supply chain management 供应链管理2.zero defect 零缺陷3.perfect order 完美订单4.six-sigma performance 六西格玛管理体系5.marketing channel 营销渠道6.economic value 经济价值7.economy of scale 规模效益8.market value 市场价值9.trade-off 背反关系rmation sharing paradigm 信息共享模式11.process specialization paradigm 过程专业化模式12.electronic data interchange（EDI）电子信息交换13.made to plan（MTP）根据计划推测生产14.lead-time 交货期15.made to order（MTO）根据订单生产16.logistic outsourcing 物流外包17.stock keeping unit（SKU）库存单位18.integrated service provider（ISP）一体化服务供应商19.public warehouse公共仓库20.value-added service 增值服务21.third-party service provider 3PL 第三方物流服务供应商22.fourth-party service provider 4PL 第四方物流服务供应商23.anticipatory business model（push）预测性商业模式24.responsive business model（pull）快速响应型商业模式25.logistics postponement 物流延迟26.cash-to-cash conversion 现金转化周期27.dead net pricing 完全净价28.cash spin 现金周转29.operational performance 运作绩效30.order processing 订单处理31.customer accommodation 市场分销Chapter2 Inbound logistics 采购运筹，进口物流1.Procurement perspective and strategies 采购远景和策略2.continuous supply 持续供应3.minimize inventory investment 减少存货投资-JIT4.quality improvement 质量改进5.lowest total cost of ownership-TCO 所有权总成本最低6.supplier-buyer integration 供方买方整合7.value management 价值管理8.sales synergy 销售协同9.Manufacturing perspective and strategies 生产远景和策略10.brand power 品牌力11.Lead time 备货期12.Make-to-stock（MTS）备货型生产13.Make-to-order（MTO）订货型生产14.Assemble-to-order（ATO）面向订单装配15.Material Requirement Planning(MRP) 物料需求计划Chapter3 Outbound Logistics 出货物流1.Supply chain service output 供应链营运功率2.Spatial convenience 空间便利性3.Lot size 批量4.Waiting time 等待时间5.Stock out frequency 缺货率6.Fill rate 供应比率7. Sales and operations planning 销售和运作计划8.Order shipped complete 订货完成率9.Operation Performance 运行性能：10.Service Reliability 服务可靠性11.Customer Satisfaction 顾客满意度：12.Value added service 增值业务：13.Customer-focused services顾客导向之服务14.Promotion-focused services促销导向之服务15.Manufacturing-focused services 生产导向之服务16.Time-based services 基于时间的服务17.Distribution Resource Planning (DRP) 配送资源计划18.Total Quality Management全面质量管理19.customer relationship management（CRM）客户关系管理20.International Organization for Standardization（ISO）国际标准化组织21.European Article Numbering(EAN)欧洲物品编码22.Total Cost of Ownership所有权的总成本23.Economic Order Quantity(EOQ）经济订货量24.authorized economic operator授权经济运营25.make-to-plan（MTP)计划型生产26.Assemble-to-order面向订单装配27.materials requirements planning(MRP）物料需求计划28.performance-based logistics基于性能的物流29.Master Production Schedule主生产计划30.Bill of Materials 物料清单31.Distribution Resource Planning分销资源计划32.Supply chain information systems 供应链信息系统33.Enterprise Resource Planning（ERP)企业资源规划34.transportation management system运输管理系统35.Warehouse management system存货管理系统36.Yard management system堆场管理系统Advanced Planning and Scheduling(APS) 高级计划与排程系统37. available to promise 可行性承诺38.Collaborative Planning, Forecasting and Replenishment(CPFR)协同规划，预测和补货39.bills of lading提单40. proof of delivery交货证明Chapter4Geographical specialization 地域专门化Decoupling 库存的“分离”作用Balancing supply and demand 平衡供需Buffering uncertainty 降低不确定性因素Service lever 服务水平Average inventory 平均库存Inventory policy 存货政策Cycle inventory, or base stock 周转库存Safety stock inventory 安全库存Transit inventory 在途库存Order quantity 订购数量Transit inventory 已中转存货Obsolete inventory陈旧存货Speculative inventory投机性存货Safety stock 安全储备Reorder point 再订货点Inventory turns库存周转次数performance cycle or lead time绩效循环Inventory carrying cost 库存持有成本Volume Transportation Rates体积运输率Free On board (FOB) 船上交货价Quantity Discount大批量折扣Other EOQ Adjustments其他存货调整Demand uncertainty 需求的不确定性Performance cycle uncertainty 运行周期的不确定性Standard deviation 标准差Poisson distribution 泊松分布Safety Stock with Combined Uncertainty安全库存结合的不确定性Numerical compounding 精确合成Estimating Fill Rate估计填充率Dependent Demand Replenishment相关需求补给Safety time 安全时间Over planning top-level demand 对高水平需求的超额预测Inventory control 库存控制Perpetual Review 永续盘存Periodic Review 定期盘存Reactive inventory system 反应式库存系统Pull inventory system 拉动式库存系统Fair Share Allocation 公平份额分配法Distribution Requirements Planning (DRP) 配送需求计划Collaborate Inventory Replenishment 联合库存补充Vendor-Managed Inventory (VMI) 供应商管理存货Profile Replenishment (PR) 系列补货Product Classification Analysis (ABC) 产品分类分析Product/Market Classification 产品/市场分类Segment Strategy Definition 战略定义Policies and Parameters 政策和参数Chapter5,6(第八、九、十章）第八章Transportation InfrastructureIn-transit inventory在途库存Diversion转移Economy of scale规模经济 economy of distance 距离经济Tapering principle 远距离递减原则Consignor 发货人 consignee 收货人United States Postal Service （USPS）美国邮政服务Department of Transportation（DOT）运输部门Interstate Commerce Commission (ICC) 洲际商会Surface Transportation Board (STB) 陆地运输局Rights-of-way 通行权Ton-mile 吨英里Truckload（TL) 整车运输less—than—truckload（LTL) 零担运输specialty 专项运输North America Free Trade Agreement (NAFTA) 北美自由贸易协定Central America Free Trade Act (CAFTA) 中美洲自由贸易法United Parcel Service (UPS) 联合包裹运输服务公司Piggyback service 驼背式运输服务Land bridge 大陆桥Freight forwarders 货运代理人第九章Transportation OperationsStowability 装载能力Hundredweight （CWT) 英担Transport lane 运输通道Back-haul 可带回去Deadheaded 空车返回Variable costs 可变成本Fixed costs 固定成本Joint costs 连带成本Common costs公共成本Cost-of-service 服务成本策略Value-of-service 服务价值策略Combination pricing strategy 组合定价策略Net-rate pricing 净费率定价策略Tariff 费率表Class rate 费率类别Minimum charges and surcharges最低收费和附加费Commodity rate 商品费率Exception rates 特价费率Aggregate tender rate累计费率Limited service rate 有限服务费率Shipper load and count rate 发货人装载和清点费率Released value rate 免责价值费率Freight-all-kind (FAK) rates 均价费率Local rate 地方费率Single-line rate单线费率Joint rate 联合费率Proportional rate比例费率Transit service 转运服务Diversion and reconsignment 转移并变更收货人Split delivery 分票交付Demurrage 滞期费Detention 滞留费用Special or accessorial service 特别的或者附属的费用Special equipment charges 特殊设备使用费Transportation management system （TMS）运输管理系统Core carrier strategy 核心承运人战略Integrated service providers （ISPs）Reactive and proactive反应性和主动性Market area 市场范围法Scheduled area delivery 定期运送Pooled delivery集中运送Preorder planning 预订计划Multi-vendor consolidation 多卖主集拼Expediting 加急Hours of service（HOS) 服务时间Federal Motor Carrier Safety Administration联邦汽车运输安全管理局Loss or damage 货物丢失和损伤Overcharge/undercharge索价过低Preaudit 事前审核Post audit 事后审核Bill of lading 提货单Order-notified 待命提单Freight bill运费账单Prepaid or collect 预付或到付Shipment manifest装货清单Free on board船上交货Freight on board 离岸价格F.O.B. Origin FOB原产地价格F.O.B. Destination pricing FOB交货地价格F.O.B. 离岸价Delivered pricing 交货价Single-zone delivered pricing单地区定价Multiple-zone delivered pricing多地区定价Base—point pricing system基点定价系统Phantom freight在售价上加计的运费Freight absorption 运费免收Substantially lessen competition 大大减少竞争Forward-buy 提前购买Every Day Low Pricing（EDLP）天天低价Activity-based costing 作业成本法Total cost-to-serve model总成本与服务模型第十章 WarehousingDistribution center 分销中心Just-in-time （JIT）准时制生产Cross-docking 越库式转运Mixing组合作业Assembly 装配作业Lead suppliers or tier one suppliers 主供应商或一级供应商Environmental Protection Agency（EPA）环境保护机构Food and Drug Administration（FDA）食品药物监管会Occupational Safety and Health Administration（OSHA）职业安全与卫生管理局Spot-stocked 定点储存Value-added services（VAS）增值服务Transfer and selection 货物的转移和分拣作业Flow-through or cross-dock distribution通过式配送或越库式转运Extended storage 长期储存Contract warehousing 合同仓储Selection or picking area 分拣作业的区域Discrete selection and wave selection 单独分拣和区域分拣Batch selection 批次挑选Chapter 7 Integrated Operations PlanningSupply Chain Planning供应链计划Supply chain visibility供应链的可见性Simultaneous resource consideration资源的同步考虑Resource utilization资源的利用率Supply Chain Planning Applications供应链计划应用系统Demand Planning需求计划Product Planning生产计划Logistics Planning 物流计划Sales and Operations Planning (S&OP)销售和作业计划系统Maximize production产量最大化Stable schedule稳定的生产进度Long lead times长的提前期Lower margins较低的利润Aggregate forecasts总体预测Rapid response 快速响应Maximize revenue 利润最大化Collaborative planning协同计划Exponential smoothing指数平滑法extended exponential smoothing扩展平滑法Adaptive smoothing调节性平滑法Multiple regression多元回归Chapter 8 Global Supply ChainGlobal Supply Chain Integration全球供应链一体化Stages of international development国际化发展的阶段Use restriction使用限制Price surcharges价格附加费Local presence本地经营Global Sourcing 国际采购Rationale for Low-Cost-Country sourcing低成本国家采购的理由Guidelines for sourcing采购的指导方针Achieve economies of scale实现规模经济Reduce direct cost减少直接成本Reduce market access uncertainty减少市场准入的不确定性Enhance sustainability增强可持续性Combined transport document联运单据Commercial invoice商业发票Insurance certificate保险证书Certificate of origin原产地证书Logistics Performance Index（LPI）物流绩效指数Chapter 9 Chapter 10(第十五、十六章)SDWT--self-directed work teams 自我指导工作小组Balanced scorecards 平衡计分卡Balance sheet 资产负债表Income statement 利润表The great divide 严重断层Reliability-based trust 以可靠性为基础的信任Character-based trust 以特性为基础的信任Average order cycle time 平均订货周期时间Order cycle consistency 订货周期一致性On-time delivery 准时交货Downtime 停工期Inventory turnover rate 库存周转率ROA---return on assets 资产回报率ROI---return on investment 投资回报率RONW---return on net worth 净值回报率Contribution approach 贡献毛利法Net profit approach 净利润法SPM---Strategic Profit Model 战略盈利模型CMROI---contribution margin return on inventory investment库存投资利润贡献率。

PART IIANSWERS TO END-OF-CHAPTER QUESTIONSCHAPTER 3: STRATEGIC AND FINANCIAL LOGISTICS3-1. Discuss the differences between corporate level, business unit level, and functional level strategies.Corporate-level strategy is focused on determining the goals for the company, the typesof businesses in which the company should compete, and the way the company will be managed. Strategy at a business unit level is primarily focused on the products and services provided to customers and on finding ways to develop and maintain a sustainable competitive advantage with these customers. The functional level strategies are related to business activities that support the achievement of the higher-level goals set by the business unit and corporation.3-2. Discuss the cost leadership, differentiation advantage, and focus strategies.A cost leadership strategy requires an organization to pursue activities that will enable it to become a low-cost producer in an industry for a given level of quality. A differentiation strategy entails an organization developing a product or service that offers unique attributes that customers value and perceive to be distinct from competitor offerings. A focus strategy concentrates an organization’s effort on a narrowly defined market to achieve either a cost leadership or differentiation strategy.3-3. What are the two key components of an income statement?Revenues and expenses are the two key components of an income statement. Revenues (sales) provide a dollar value of all the products and services an organization provides to its customers during a given period of time. Expenses (costs) provide a dollar value for the costs incurred in generating services during a given period of time.3-4. What are the three key components of a balance sheet?Assets, liabilities, and owners’ equity are the three key components of the balance sheet. Assets are what a company owns and come in two temporal forms: current assets and long-term assets. Liabilities are the financial obligations a company owes to another party. Liabilities also come in two temporal forms: current liabilities and long-term liabilities. Owners’ equity is the difference between what a company owns and what it owes at any particular time.3-5. What are the three key components of the statement of cash flows?The statement of cash flows contains information from the income statement and balance sheet, but is formatted to highlight the sources and uses of cash in an organization’s operations, and in investing and financing activities. Accounts payable, accounts receivable, revenue growth, gross margin, sales—general and administration, capital expenditures, and inventory are all areas that affect cash flows within an organization.3-6. What are the key components of the Strategic Profit Model? How can it be used to examine the effect of logistics decisions?Briefly, the Strategic Profit Model can be drilled down to Net Profit Margin x Asset Turnover = Return on Assets. Return on assets indicates what percentage of every dollar invested in the business is ultimately returned to the organization as profit. Net profit margin measures the proportion of each sales dollar that is kept as profit, and asset turnover measures the efficiency of the capital employed to generate sales. The Strategic Profit Model has the advantage of assisting logistics managers in the evaluation of cash flows and asset utilization decisions. Suppose, for example, that a logistics manager is able to eliminate some unnecessary inventory. This would reduce the value of current assets as well as total asset value. As a result, sales divided by total assets—asset turnover—would be higher, as would the organization’s return on assets.3-7. Discuss how logistics decisions affect net profit margin in an organization.The most relevant net profit margin considerations for logistics managers are sales, costs of goods sold, and total expenses. A primary influence of logistics activities on sales would be through the improvement of customer service. Logistics can impact costs of goods sold through procurement activities or through any logistics-related efficiency improvement that enables labor to be more productive. Expenses can include logistics-related activities such as transportation, warehousing, and inventory. A logistics decision to reduce the number of less-than-truckload shipments through a consolidation strategy would show up in the transportation costs category that is part of variable expenses.3-8. Discuss how logistics decisions affect asset turnover in an organization.Two examples involve inventory and accounts receivable. With respect to inventory, a retailer’s decision to move to a system of vendor-managed inventory, where a supplier of a product maintains control and ownership of an inventory item, can result in a significant reduction of the amount of inventory on an organization’s balance sheet. As for accounts receivable, a decision to invest in an EDI system that would increase invoice accuracy should enable customer payments to be received in a more timely fashion.3-9. D iscuss some ways that inventory can be reduced on a firm’s balance sheet.A decision by a retailer to move to a system of vendor-managed inventory where a supplier of a product maintains control and ownership over an inventory item can result in a significant reduction of the amount of inventory on an organization’s balance sheet. Similarly, the use of premium transportation may also enable a firm to reduce lead time and ultimately reduce pipeline inventory that would show up on the balance sheet.3-10. How does logistics strategy connect to overall corporate strategy? Is it a one-way or two-way connection?While the corporate level strategy ultimately sets the goals for the logistics strategy, the functional expertise that exists in the organization will necessarily influence the corporate strategy formulation. The strategic issues at this level are related to business activities that support the achievement of the higher-level goals set by the business unit and corporation. This hierarch of strategy entails the functional units of an organization providing input into the other levels of strategy formulation. This input could take the form of information on the resources and capabilities available to the organization. After the corporate level and business unit strategies are developed, the functional units must translate these strategies into discrete action plans they must accomplish for the higher-level strategies to succeed.Logistics strategy decisions involve issues such as the number and location of warehouses, the selection of appropriate transportation modes, the deployment of inventory, and investments in technology that support logistics activities. In addition to being influenced by the goals of the corporate and business unit strategies, logistics strategy is directly influenced by strategic decisions in the functional areas of marketing and manufacturing. The ability of the logistics function to ultimately influence the overall financial success of an organization is based on the ability of logistics managers to develop and implement strategies that are aligned with the overall corporate strategy. An appreciation for this interconnectedness and need for alignment of strategies is important for every logistics manager.3-11 What are the three primary areas where the Sarbanes-Oxley Act (SOX) has implications for logistics managers?Three primary areas where SOX has implications for logistics managers are internal controls, off balance sheet obligations, and timely reporting of material events. In terms of internal control, timely and accurate accounting of inventory is expected. With respect to off balance sheet obligations, compliance with SOX can involve providing transparency to external relationships with suppliers to manage inventory and/or purchasing agreements. Finally, timely reporting of material events involves the need to provide visibility of late supplier deliveries and/or the inability of suppliers to provide the products or services that are expected to drive revenue for the organization.3-12. Most managers believe that although it is possible to connect logistics decisions to costs, the connection to revenue enhancement is difficult to impossible. Provide an example of how logistics could improve sales.A decision to provide overnight delivery of service to e-commerce customers might have a positive influence on customer retention and sales.3-13. What are some common logistics measures in transportation, warehousing, and inventory management?Transportation:The major transportation measures focus on such things as labor, cost, equipment, energy, and transit time. Measurements in this area include items such as return on investment (investments in transportation equipment), outbound freight costs, transportation labor productivity, on-time deliveries, and in-transit damage frequency.Warehousing:The primary warehousing measures include such things as labor, cost, time, utilization, and administration. Some common measurements focused on warehouse activities include return on investment (investments in warehousing facilities or equipment), warehouse order processing costs, and warehouse labor productivity.Inventory Management:Inventory management measures tend to relate to the inventory service levels to customers as well as controlling inventory investment across an organization’s logistics system. Some common performance measures include obsolete inventory, inventory carrying cost, inventory turnover, and information availability.3-14. Do you think corporate cultures are relevant for designing a logistics measurement system? Why or why not?A re curring theme in the logistics research is that an organization’s logistics capabilit ies need to be directly connected to objective firm performance measures. In addition, this research stream asserts that logistics managers must continue to find ways to effectively communicate how these logistics capabilities provide value and ultimately support corporate strategy and success in financial terms. The ability of the logistics function to ultimately influence the overall financial success of an organization is based on the ability of logistics managers to develop and implement strategies that are aligned with the overall corporate strategy. This entails working directly with other functional areas such as marketing and manufacturing. This working relationship is directly influenced by the corporate culture that exists with a firm and thus holds the potential to help or hinder these alignment efforts.3-15. How do you measure gross margin return on inventory (GMROI)?Gross margin return on inventory is a common metric that is used by retailers and distributors to examine inventory performance based on margin and inventory turn. GMROI can be measured as (Gross Profit in Dollars/Sales in Dollars) x (Sales in Dollars/Average Inventory at Cost).3-16. Describe how logistics decisions might affect an organization’s cost of goods sold. Cost of goods sold includes all the costs of materials and labor directly involved in producing a product or delivering a service. A significant part of this expense category is the cost of materials that are used to make a product. As such, logistics can influence these costs through procurement activities (e.g., purchasing at volume discounts, reverse auctions) or through any logistics-related efficiency improvements that enable labor to be more productive (e.g., enhanced materials handling processes on a production line).3-17. Discuss the common types of information included in traditional logistics measurement systems.Logistics measurement systems have been traditionally designed to include information on five types of performance: asset management, cost, customer service, productivity, and logistics quality. Several measures are designed and implemented in each of these categories to manage logistics activities such as transportation, warehousing, and inventory management. Research suggests that leading-edge organizations are highly focused on performance measurement across these five areas and this serves as a platform on which competitive position, value-adding capabilities, and supply chain integration can grow.3-18. What are the major parts of a balanced scorecard? Why are these parts needed?The Balanced Scorecard (BSC) is made up of performance measures that address particular goals or capabilities in the areas of customers, internal business processes, learning and growth, and financial. This holistic approach is needed in order to force management to look beyond the traditional financial measures when conducting a strategic analysis.3-19. What are the steps for developing an effective logistics scorecard?To develop a n effective logistics scorecard, management first defines the organization’s vision and goals. Next, logistics strategies are designed to ensure achievement of this vision and goals. These strategies are then translated into specific tactical performance-enhancing activities, and, finally, appropriate measures are established for each activity.3-20. Identify some of the key considerations for a logistics manager who is designing and implementing a logistics measurement system in his or her organization.Some of the key things to consider when applying performance measures to logistics activities include:1.Determination of the key measures should be tailored to the individualorganization and level of decision making.2.Data collection and analysis are a major part of a performancemeasurement system in logistics. This complexity is increased in globalsettings.3.Behavioral issues should be considered when establishing andimplementing a system of logistics measures. Top management supportcan help tremendously in this area.4.Frequent communication and constant updating of the measures is anecessary condition for ensuring they are supporting the stated goals of theorganization.PART IIICASE SOLUTIONSCASE 3-1 BRANT FREEZER COMPANYQuestion 1: When comparing performance during the first five months of 2017 with performance in 2016, which warehouse shows the most improvement?St. Louis is the only one showing any improvement, using cost per unit shipped as the performance criterion. The cost for the first five months of 2016 was $9.97 and for the first five months of 2017, it fell to $9.07.Question 2: When comparing performance during the first five months of 2017 with performance in 2016, which warehouse shows the poorest change in performance?The worst change is the company’s own warehouse (located in Fargo), where costs per unit shipped increased 31%. Among the public warehouses used, Denver was the worst in terms of cost per unit handled. It is also the most expensive public warehouse that Brant uses.Question 3: When comparisons are made among all eight warehouses, which one do you think does the best job for the Brant Company? What criteria did you use? Why?Using the cost per unit handled criterion, St. Louis does the best job, closely followed by Chicago.Question 4: J. Q. is aggressive and is going to recommend that his father cancel the contract with one of the warehouses and give that business to a competing warehouse in the same city. J. Q. feels that when word of this gets around, the other warehouses they use will “shape up.” Which of the seven should J. Q. recommend be dropped? Why? Denver has the lowest volume and highest unit costs among all the public warehouses used. In addition, it had been closed by a strike which must have inconvenienced the Brant Company. It may be that the warehouse workers’ unions are strong in the Denver area. J. Q. should probably check out rates and productivity measures of other Denver warehouses before deciding to drop its current warehouse there.Question 5: The year 2017 is nearly half over. J. Q. is told to determine how much the firm is likely to spend for warehousing at each of the eight warehouses for the last six months of 2017. Do his work for him.There is not enough information to do a very precise forecast. J. Q. assumes that the proportion of costs occurring during the first five months of 2016 should be the same proportion in 2017.The projected costs in 2017 (column 3) are calculated by dividing the actual costs for the first five months of 2017 (column 2) by the percent of 2016 costs that occurred in the first five months (column 1). Fo r example, Atlanta’s actual 2017 costs of $40,228 divided by 2016’s 22.88% yields projected 2017 costs of approximately $175,822.The projected costs in the last six months of 2017 (column 4) are calculated by subtracting the actual costs for the first five months of 2017 (column 2) from 2017’s projected total costs (column 3). This gives us the projected costs for the last seven months of 2017. However, we are only interested in the last six months of 2017, so this number is multiplied by 6/7, or .857. Continuing with Atlanta, 2017’s projected total costs of $175,822 minus the first five months’ actual costs of $40,228 equals $135,394. Multiplying this by 6/7 yields projected six months’ costs of approximately $116,204. Question 6: When comparing the 2016 figures with the 2017 figures shown in the table, the amount budgeted for each warehouse in 2017 was greater than actual 2016 costs. How much of the increase is caused by increased volume of business (units shipped) and how much by inflation?There are several ways to approach this question. One involves calculating the volume difference and inflation difference for each warehouse, as follows:Volume difference = 2016 unit costs x (2017 units shipped – 2016 units shipped) Inflation difference = 2017 units shipped x (2017 unit costs – 2016 unit costs) For example, A tlanta’s volume and inflation differences are:Volume difference: $8.99 x (18,000 – 17,431) = $8.99 x 569 = $5,115Inflation difference: 18,000 x ($9.97 - $8.99) = 18,000 x $.98 = $17,640Question 7: Use the 2016 Income Statement and Balance Sheet to complete a Strategic Profit Model for J. Q.Sales =$4,003,450COGS = $937,000-Total Expenses = $2,486,167Gross Margin =$3,066,450Other Current Assets = $706,034Accounts Receivable= $355,450Inventory =$1,590,435Current Assets =$2,651,919Fixed Assets =$803,056Sales =$4,003,450Net Profit = $580,283Sales =$4,003,450Total Assets =$3,454,975Net Profit Margin =14.495%Asset Turnover =1.159ROA =16.796%+++-//Question 8: Holding all other information constant, what would be the effect on ROA for 2016 if warehousing costs declined 10% from 2016 levels?Given that warehousing costs were $735,982 for 2016, a 10% reduction would beapproximately $73,598. Thus, total expenses would decrease to $2,412,569 ($2,486,167 – $73,598), with the following SPM:Sales =$4,003,450COGS = $937,000-Total Expenses = $2,412,569Gross Margin =$3,066,450Other Current Assets = $706,034Accounts Receivable= $355,450Inventory =$1,590,435Current Assets =$2,651,919Fixed Assets =$803,056Sales =$4,003,450Net Profit = $580,283Sales =$4,003,450Total Assets =$3,454,975Net Profit Margin =16.333%Asset Turnover =1.159ROA =18.926%+++-//。

ExercisesPart II. Click on the word or phrase that fits the sentence:. The Public sector ______an important role in transport, through the construction, ownership and control of roads, railroads and in most countries.(A) do (B) get (C) play (D) plays2. This does not only relate to the handling techniques, _______to the equipment itself.(A) and (B) which (C) but also (D) too3. A ship may be moved from one trade or route to another, _______a port cannot be moved.(A) that (B) which (C) while (D) why4. The high cost of provision, longevity and scale economies associated _______the fixed components create tendencies towards monopoly control, while the ease of entry, flexibility and lack of scale effets tend to stimulate competition in the mobile sector.(A) on (B) in (C) to (D) with5. Public authorities are most often responsible (1) planning, construction and maintenance of the fixed elements of transport, the infrastructure. It is assumed that their main (2) is to secure the international trade to and from a region or a country. But the investments they are willing to undertake must in most cases be demonstrated to have a viable economic basis through projections of cargo flows and (3) national gains. The careful planning and (4) of road and port projects are examples of this. The shipowners, as the suppliers of ships, will have similar interests in evaluating the cargo flow to and from a specific area. But as they operate internationally and their ships most likely serve other regions or countries, at least in liner operations, their considerations will have a wider scope within some profit motive. They may not be willing to add capacity to a service to cater for local needs.(1) (A) on (B) in (C) to (D) for(2) (A) objective (B) object (C) objectively (D) objecting(3) (A) result (B) resulting (C) results (D) resulted(4) (A) evaluation (B) improvement (C) development (D) increaseII. Fill in the blanks with words or phrases from the list below:1. mobile, relate, infrastructure,influenced, link, consists,(1) The _____elements are also generally cheap.(2) This does not only ______to the cargo handling techniques, but also to the equipment itself.(3) It is the features of the fixed and mobile components of transport that have _______the present institutional arrangements in the industry.(4) A particularly important ________ between transport and development is in international interaction.(5) A transport system _______of inland transport, ports and ocean going vessels.(6) The importance of building up a transport that involves considerable cost has made thisa widely accepted public task.Part IIExercises:I. Click on the word or phrase that fits the sentence:1. The capability to efficiently transport large tonnage over long distance is the main reason _____ continue to handle significant inter-city tonnage and revenue.(A) motor carrier (B) water transport (C) railroads (D) pipelines2. _______is the oldest mode of transportation(A) Motor carrier (B) Water transport (C) Railroads (D) Air transport3. _____ can not be transported by pipelines.(A) gas (B) general cargo (C) liquid (D) slurry4. One ______aspect of air transport is the high cost.(A) prohibitive (B) limited (C) obstacle (D) advantage5. There has been an increasing _ (1)__ on these vehicles both in developed and in developing country. The construction of motorway and trunk road network, the concentration of manufacture into bigger production units and the general trend towards containerization have supported and (2) to this trend. Road transport shares the road or highway (3) other user. The (4) of roads are normally financed either through direct taxes (toll roads), by petrol or other indirect taxes or by combination.(1) (A) to rely (B) rely (C) relied (D) reliance(2) (A) lead (B) led (C) leading (D) to lead(3) (A) with (B) on (C) and (D) in(4) (A) build (B) building (C) manufacture (D) constructII. Fill in the blanks with words or phrases from the list below:. unique, complementary, extremely, ranks, shifted, reduced,(1). The basic nature of a pipeline is ______in comparison to all other modes of transport.(2) Water transport _______ between rail and motor carrier in respect to fixed cost.(3) The replacement of steam by diesel power ______ the railroads’ variable cost per ton-mile.(4) In many situations road and rail transport may be seen as ______ rather than a competitor.(5) Port and freight station are places where goods are _____from one mode of transport to another.(6) The main advantage of water transportation is the capacity to move large shipments.Part IIIExercises:I. Click on the word or phrase that fits the sentence:1. According to the passage, transport economics is influenced by _______factors.(A) five (B) six (C) seven (D) eight2. ______ is a major influence on transportation cost since it directly contribute to variable cost, such as labor, fuel and maintenance.(A) Product density (B) Stowability (C) Market (D) Distance3. Items with standard rectangular shapes are much easier to stow ______odd-shaped items(A) with (B) than (C) to (D) at4. The bill of lading serves as a receipt and documents commodities and quantities ______.(A) ship (B) shipped (C) shipping(D) to ship5. The multi-modal transport operator (MTO) acts (1) the principal for the performance of the multi-modal transport contract and, in (2) capacity undertakes to contract and provide for the different modes of transport and other services required for expeditious, efficient and safe transport of goods from the place where he takes the goods in charge to the place where he deliver the goods (3) the contract. In the execution of the contract he has necessarily to engage the services of several carriers such as shipowners, road operators, railways, airlines or inland water way operators in addition to non-carriers like terminal operators, warehouses, container freight stations, groupage or consolidation depots, container (4) organizations or freight forwarders.(1) (A) on (B) as (C) to (D) at(2) (A) which (B) what (C) that (D) where(3) (A) according to (B) due to (C) because (D) in addition to(4) (A) lending (B) borrowing (C) owning (D) leasingII. Fill in the blanks with words or phrases from the list below:Applied , decreases, arrange, delivery, lists, required(1) Special handling equipment may be for loading or unloading trucks, railcars, or ships.(2) Transportation cost per unit of weight ________as load volume increases.(3) The shipping manifest ______ individual stops or consignees when multiple shipments are placed on a single vehicle.(4) The primary task of forwarding is to ______ international transport of general cargo on behalf of others.(5) Export rates may reduce total cost if to domestic origin or destination line-haul transport.(6). In many situations the place of ______ of a cargo may not be known at the time of loading. A typical example is oil.Answers:Part I I.1.D 2.C 3.C 4.D 5.CBDC II. (1)mobile (2)relate (3)influenced (4)link (5)consists(6) infrastructurePart II I.1.C 2.B 3.B 4.B 5.DBAB II. (1)unique (2)ranks (3)reduced (4)complementary(5)shifted (6) extremelyPart III I.1.C 2.D 3.B 4.B 5.BAAC II.(1)required (2)decreases (3)lists (4)arrange (5)applied(6)delivery。