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. A framework that identifies eight relevant processes - such as customer relationship management - demand management - and order fulfillment - associated with supply chain management.






2. A process for returning a customer to a state of satisfaction after a service or product has failed to live up to expectations.






3. A process where product is received in a facility - occasionally married with product going to the same destination - then shipped at the earliest opportunity - without going into long-term storage.






4. An international payment option that is issued by a bank and guarantees payment to a seller provided that the seller has complied with the applicable terms and conditions of the particular transaction.






5. Breaking larger quantities into smaller quantities.






6. Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data.






7. Inventories that are used or distributed together (e.g. razor blades and razors).






8. Price of the product at its source plus transportation costs to its destination.






9. Terminal-to-terminal movement of freight or passengers.






10. Refers to a combination of water transportation and surface transportation between an origin and destination port.






11. 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.






12. Actual physical movement of goods and people between two points.






13. A product that gains weight in processing; the processing point should be close to the market.






14. Compares actual experience to the expected experience and if the actual experience equals or exceeds the expected experience - then the customer is satisfied.






15. The costs of holding an inventory - such as interest on investment - insurance - deterioration - and so on.






16. Refers to the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers.






17. A group of forecasting techniques that is based on the idea that future demand is solely dependent on past demand.






18. A group of forecasting techniques that is based on the idea that future demand is solely dependent on past demand.






19. A major port where thousands of containers arrive and depart per week. These ports specialize in the efficient handling of containers.






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






21. Refers to software that users access on a per-use basis instead of software they own or license for installation.






22. An intermediary that oversees the efficient movement of importers' goods (and accompanying paperwork) through customs and other inspection points.






23. Procurement activities that meet the ethical and discretionary responsibilities expected by society.






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






25. A system in which products are stored wherever there is empty space available in a warehouse.






26. The term associated with the handling of unit loads.






27. Inventory needed to satisfy demand during an order cycle.






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






29. The time span within which a scheduled delivery must be made.






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






31. Logistics Information System






32. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.






33. Simulation of the types of problems that the package will be exposed to in warehouses and in transit.






34. Building up a variety of different products for resale to a particular customer.






35. An individual or firm in the business of carrying cargo or passengers.






36. U.S. federal government body with primary responsibility for transportation safety regulation.






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






38. Product for which there is no demand.






39. A small platform (made of plastic - steel - or wood) on which goods are placed for handling by mechanical means.






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






41. Facilitators that make the channel function better.






42. Storage of finished product and movement to the customers.






43. A carrier's attempt to determine a shipment's location during the course of its move.






44. Breaking larger quantities into smaller quantities.






45. The most important single transportation document that is the operating document in the industry.






46. Refers to a situation in which a hazard or defect is discovered in a manufactured or processed item - and its return is mandated by a government agency.






47. The shipper of goods.






48. Money paid before an exchange.






49. Being out of an item at the same time there is a willing buyer for it.






50. Economic activity that can be conducted via electronic connections such as EDI and the internet.