Introduction to Supply Chain Management hursday Dec 7 2017 (in clas Homework Ass
ID: 380680 • Letter: I
Question
Introduction to Supply Chain Management hursday Dec 7 2017 (in clas Homework Assignment #3 (100 Points) Due: T What is a Freight Forwarder and what services do they offer? (A) What does 3PL stands for? (B) Name at least 5 services that a 3PL offers What is "Cross-Docking"? List the five modes of transportation and for each mode, provide a brief description of the kinds/ types of cargo that are typically transported via that mode. (A) What is a Foreign Trade Zone (FTZ)? (B) What types of operations can be performed in an FTZ? (A) What is Customer Lifetime Value? (B) Why is it important? Name the 5 primary functions of a warehouse What are "Facilitating Goods"? ds and services?Explanation / Answer
1) A freight forwarder is a company hired to move shipments between foreign and domestic locations. The main function of the freight forwarder is to act as an intermediary between the client who is hiring them and various transportation services that are involved in getting the product overseas to the customer, including carriers, customs and handlers. Freight forwarders handle many of the formalities involved in exporting and importing such shipments.
A freight forwarder manages the relationships between various carriers: air & ocean freight, trucking, trains, etc. They determine the best routes and prices to have your products shipped to the U.S. The other services that freight forwarder will provide are the the client insurance services to make sure that if the items do arrive damaged, they will be reimbursed and not liable for the damages.
2) 3PL stands for "Third Party Logistics".A third party logistics company is one that works with shippers in order to manage another company’s logistics operations department. 3PL is the action of outsourcing activities that are related to logistics and distribution.
Services that 3PL offers are :
3) Cross docking is a logistics procedure where products from a supplier or manufacturing plant are distributed directly to a customer or retail chain with marginal to no handling or storage time. Cross docking takes place in a distribution docking terminal; usually consisting of trucks and dock doors on two (inbound and outbound) sides with minimal storage space.
The name ‘cross docking’ explains the process of receiving products through an inbound dock and then transferring them across the dock to the outbound transportation dock.
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