Question: Question # 1: Explain the relationship between the six key elements of logistics. Use the diagram discussed in lecture to show how these elements interact,

Question # 1: Explain the relationship between the six key elements of logistics. Use the diagram discussed in lecture to show how these elements interact, but then go into detail on at least three of the arrows in the diagram. What does each arrow imply? How could it work? What happens to costs and activities? Question #2: Inventory management faces two broad circumstances: independent and dependent demand. Explain the difference between these two circumstances and describe the methods for setting inventory levels in each. Question #3: What are the five key components of a transportation system? How do they vary by mode of transportation? In what way do these elements support nearly all economic activity? Question #4: In what ways is deep ocean transportation important to the U.S. economy? The world economy? Describe the most influential deep ocean carriers and the market structure of the industry

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