Exam 1 - Transportation Operations | SCM 373 - Logistics & Transportation Mgt, Quizzes of Introduction to Business Management

Download Exam 1 - Transportation Operations | SCM 373 - Logistics & Transportation Mgt and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Economic Importance of Transportation DEFINITION 1 1) Allows for Geographic specialization2) Enables large-scale production3) Increased Competition4) Increased Value of Land TERM 2 Drivers of Pricing DEFINITION 2 1) Distance2) Weight3) Density4) Stow-ability5) Handling6) Liability7) Market TERM 3 Types of Cost DEFINITION 3 Variable CostFixed CostJoint Cost TERM 4 Pricing Strategies DEFINITION 4 Cost-of-ServiceCost-of-ValueNet Rate Pricing TERM 5 Transportation Admin DEFINITION 5 Operational ManagementConsolidationNegotiationControlAuditing and Claims AdministrationLogistical Integration TERM 6 Operational Management DEFINITION 6 Equipment scheduling and yard planning TERM 7 Consolodation DEFINITION 7 Combining LTL or parcel shipments moving to a general location TERM 8 Negotiation DEFINITION 8 Seeking win-win agreement where both shippers and carriers share transportation consolidation and productivity gains TERM 9 Control DEFINITION 9 Tracing (finding lost or late shipments) & Expediting (notifying shipper that a package needs to move quickly) TERM 10 Auditing and Claims Administration DEFINITION 10 Auditing (Checking freight bills to ensure accuracy) & Claims (loss/damage and Over/undercharge)