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. Conformance to mutually agreed upon requirements.






2. All activities associated with the flow and transformation of goods from the raw material stage - through to the end user - as well as the associated information flows.






3. Inventory that is held for several reasons such as seasonal demand - projected price increases - and potential product shortages.






4. Transportation carrier that has agreed to serve the general public and assumes four legal obligations: service - delivery - reasonable rates - and avoidance of discrimination.






5. Cargo on which taxes or duties have yet to be paid. The owner must post a bond or use a bonded carrier or warehouse to guarantee that the materials will not be sold until the taxes or duties are paid.






6. A practice that emphasizes the virtual elimination of business errors that strives to achieve 3.4 defects - deficiencies - or errors per one million opportunities.






7. The movement and storage of materials into a firm.






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






9. A technique that seeks to better understand the cost of a product by identifying what activities drive particular costs.






10. Medium- to long-term horizon - One- to five-year (plus) time span - Overall 'structural' decisions - Trade-offs between company functions - Trade-offs with other organizations - Corporate financial plans and policies - Policy decisions developed into






11. Analyzing the impacts of small changes - such as adding or subtracting one unit of input.






12. Combining smaller packages into larger unites that can be more efficiently handled at one time.






13. The distance between the inner sides of two parallel rail tracks.






14. 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.






15. The shipment size that equates transportation charges for different rates and weight groups.






16. A framework that identifies five key processes - plan - source - make - deliver - return - associated with supply chain management.






17. A charge assessed by rail carriers to users that fail to unload and return vehicles or containers promptly.






18. Using measures of another organization's performance to judge one's own performance.






19. Are similar to credit cards for personal use - only p-cards are used for organizational purchases.






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






21. The management of the various activities associated with the order cycle.






22. The elapsed time from when an order is picked up by a transportation carrier until it is received by the customer.






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






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






25. Inventory is replenished with a set quantity every time it is ordered; the time interval between orders may vary.






26. Products are produced prior to receiving a customer order.






27. The orderly and planned observation of one or more segments in the logistics network or supply chain.






28. Stocks of goods and materials that are maintained for many purposes.






29. Numbers assigned to various types of freight - based mainly on the carrier's costs of handling that type of product - and - along with weight and distance - used as a basis for determining the costs of shipment.






30. A strategic orientation where a diverse group of logistics activities - together with other activities - are managed as a channel system.






31. Often accompanies an SED and provides explicit shipment instructions.

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


32. Provide effective ways to process personal and organizational business data - to perform calculations - and to create documents.






33. The use of radio frequency to identify objects that have been implanted with an RFID tag.






34. Software packages that control the movement and storage of materials within a warehousing facility.






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






36. An alternative name for airfreight containers.






37. Raw materials - component parts - and supplies brought from outside organizations to support a company's operations.






38. Concept that suggests that all relevant activities in moving and storing products should be considered as a whole (i.e. - their total cost) - not individually.






39. An agreement in which the world's ports agree to allow U.S. customs agents to identify and inspect high-risk containers bound for the United States before they are loaded onto ships.






40. Requires a certain percentage of traffic to move on a nation's flag vessels.






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






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






43. Inventory that is held in addition to cycle stock to guard against uncertainties in supply and/or lead time.






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






45. Goods moving between two points - often accompanied by a live bill of lading.






46. A document that notifies a transportation carrier of wrong or defective deliveries - delay - or other delivery shortcoming.






47. Products that customers view as being able to fill the same need or want as another product.






48. Refers to ships that register in nations that have lax maritime registration rules - particularly with respect to safety requirements.






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






50. 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.