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Supply Chain Logistics_Week 1 Chapter Questions

Chapter Questions

Q 1-12: Explain what is meant by the total cost approach to logistics.5-2: Discuss the SCOR and GSCF models of supply chain management.5-8. Do you agree that supply chain collaboration can be classified as transactional, tactical information sharing, or strategic in nature? Why?8-2: What makes it difficult for managers to achieve the proper balance of inventory?8-9: What assumptions are associated with the EOQ model?

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The approach of total cost to logistics is centered on the basis that every pertinent activity in storing and moving products ought to be regarded not individually but as a whole (that is total cost of theirs). An understanding of the trade-offs of cost is needed to utilize the approach of total cost. Some costs are caused to decrease and others to increase due to alteration in a logistic. The key towards the approach of total cost is that every relevant item of cost are is simultaneously regarded at the time of decision-making. The goal to figure out the approach with the total cost that is lowest which aids the necessities of customer service of an organization (Murphy & Knemeyer, 2018).