Test your basic knowledge |

Logistics Vocab

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The buyer pays the freight charges when the goods arrive - and the seller owns the goods while they are in transit.






2. Concept that recognizes that because inventories are not of equal value to a firm - they should not be managed in the same way.






3. Satisfying current and emerging customer needs.






4. Stock that exceeds the reasonable requirements of an organization.






5. Damage that is not initially apparent but is discovered after a package is opened.






6. Firm the helps a domestic company become involved in foreign sales. They often locate foreign firms that can be licensed to manufacture the product in the foreign country.






7. A program in which public and private organizations work together to prevent terrorism against the United States through imports and transportation.






8. An inventory system that responds to actual (rather than forecasted) customer demand.






9. According to the Council of Supply Chain Management Professionals (CSCMP) - that part of supply chain management that plans - implements - and controls the efficient - effective forward and reverse flow and storage of goods - services - and rel






10. Key suppliers locate on - or adjacent to - automobile plants - which helps reduce shipping costs and inventory carrying costs.






11. Breaking larger quantities into smaller quantities.






12. Refers to a product's being in a form that (1) can be used by the customer and (2) is of value to the customer.






13. The need to rapidly move a shipment to its final destination.






14. Aka bulk-making






15. Assumes that one or more factors are related to demand - and the relationship between cause and effect can be used to estimate future demand.






16. Electronic devices that read bar codes and can be used to keep track inventory - reorder inventory - and analyze inventory patterns.






17. Refers to the amount of product entering and leaving a facility in a given time period.






18. Consolidates freight shipments and buys transportation services in volume rates.






19. System that attempts enterprisewide coordination of relevant business processes by allowing (conceptually - at least) all functional areas within a firm to access and analyze a common database.






20. For-hire carriers that have been exempted from economic regulation through provisions in various pieces of legislation.






21. Restrictions other than tariffs that are placed on imported products.






22. Conformance to mutually agreed upon requirements.






23. These are material that have been spoiled - broken - or otherwise rendered unfit for further use or reclamation.






24. Strives to keep customers happy and creates in the customer's mind the perception of an organization that is easy to do business with.






25. A warehousing facility that is owned or occupied on a long-term lease by the firm using it.






26. Provides specialized service to each customer based on a contractual arrangement.






27. A U.S. federal agency that regulates workplaces to ensure the safety of workers.






28. Companies that specialize in transporting parcels or small packages.






29. Refers to an alliance in the container trades in which ocean carriers retain their individual identities but cooperate in the area of operations.






30. A flat sheet of either fiberboard material or plastic that is placed under the unit load.






31. That part of a firm's logistics system that stores products at and between points of origin and point of consumption.






32. Piggyback traffic - or loading truck trailers onto rail flatcars.






33. Cargo reaches a vehicle's or a container's weight capacity without filling its cubic capacity.






34. Depicts the demand for - and replenishment of - inventory.






35. A measure of how heavy a product is in relation to its size.






36. Day-to-day decision making - Operations controlled against standards and rules - Control via weekly/monthly reports - The implementation of the operational plan






37. Uses the internet to make it easier - faster - and less expensive for an organization to purchase goods and services.






38. Separating products into grades and qualities desired by different target markets.






39. Refers to the value or usefulness that comes from a customer being able to take possession of a product.






40. Facilitators that make the channel function better.






41. Occurs when a cargo takes up a vehicle's or a container's cubic capacity before reaching its weight capacity.






42. Each separate type of item that is accounted for in an inventory.






43. Refers to the fact that more items are recorded entering than leaving warehouse facilities.






44. A return trip or movement in a direction of secondary importance or purpose.






45. Truck trailers on flatcars - also referred to as TOFC.






46. Nonprofit membership cooperatives that perform basically the same function as freight forwarders.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


47. An international trade specialist that can handle either vessel shipments or air shipments and that offers a number of different functions such as booking space on carriers - obtaining consular documents - and arranging for insurance - among other






48. A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm - such as marketing - production - finance - and logistics.






49. Price of the product at seller's place of business. Buyer must arrange for transportation of the product from the seller's place of business.






50. A long-term arrangement between a shipper and another party to provide logistics services.