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CIPS Global Logistics Strategy Sample Questions (Q74-Q79):
NEW QUESTION # 74
What are the two principles upon which international trade law, including international arbitration, is based?
Answer: D
Explanation:
International trade law is based on freedom of contract (allowing parties to set their terms) and international recognition (ensuring arbitration awards are enforceable globally). [P-122]
NEW QUESTION # 75
Why are online returns becoming a significant concern in the context of reverse logistics?
Answer: C
Explanation:
As online and e-commerce sales increase, the rate of returns has increased and is almost double the rate of counter sales returns. [P-150]
NEW QUESTION # 76
Which key performance objective focuses on maintaining products at their manufactured specification and ensuring the accuracy of inventory information?
Answer: D
Explanation:
The key performance objective Quality ensures that inventory is maintained at its manufactured specification and that all inventory-related information remains accurate, emphasizing product integrity and data accuracy in inventory management. [P-6]
NEW QUESTION # 77
How do customers and suppliers differ in their perspectives during return transactions?
Answer: C
Explanation:
Customers prioritize refunds/replacements, while suppliers focus on extracting residual value. [P-181]
NEW QUESTION # 78
How has the nature of competition in today's globalized markets evolved?
Answer: A
Explanation:
Global competition now occurs at the supply chain level rather than between individual companies, emphasizing strategic partnerships and efficiency. [P-3]
NEW QUESTION # 79
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