Lesson 1 Assessment - 25 marks True/False (10 marks) 1. The last decade of the twentieth century was a period of rapid change for organizations, especially businesses. 2. A key element in Wal-Mart's ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system. 3. Globalizationhashadlittleeffectonconsumers. 4. Supply and demand has become less volatile as managers become more adept at controlling the elements. 5. Supply chain managers no longer need to worry about suboptimization in light of today's technology. 6. To hold down distribution cost, the lowest cost carrier should always be used. 7. Theutilitycreatedthroughthebasicmarketingactivitiesisknownasplaceutility. 8. Transportationisthephysicalmovementorflowofgoods. 9. During the 1990s and 2000s, logistics costs as a percentage of gross national product declined. 10.In a logistics system, warehousing should be optimized at the expense of related logistics activities, such as transportation and procurement.