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






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






3. 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.






4. A long-term arrangement between a shipper and another party to provide logistics services that is characterized by relational focus - a focus on mutual benefits - and the availability of customized offerings.






5. Logistics Information System






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






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






8. 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.






9. Similar to diversion - but it occurs after the shipment has arrived in the destination city.






10. The seller owns the goods in transit - prepays the freight charges - and bills the buyer for the freight charges.






11. For international transactions - refers to determining when and where to transfer between buyer and seller - the physical goods - the payment for goods - legal title - required documentation as well as responsibility for controlling and caring f






12. Money paid after an exchange.






13. An invoice submitted by a transportation carrier requesting to be paid.






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






15. The seller pays the freight charges - but the buyer owns the goods in transit.






16. Fixed facilities - such as a plant - warehouse - or store - in a logistics system.






17. A cartel consisting of nearly all the world's scheduled international airlines.






18. A technique used to model the systems under study - typically using mathematical equations to represent relationships among components of a logistics system.






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






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






21. The use of speech to guide order-picking activities.






22. Characterized by variability in demand orders among supply chain participants.






23. Refers to the number of carriers within each mode.






24. 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.






25. Refers to the number of transportation modes available to prospective users.






26. Refers to logistical activities associated with goods that move across national boundaries.






27. Refers to warehousing situations where goods are not released until applicable fees are paid. As an example - Internal Revenue Service - bonded warehouses hold goods other federal taxes and fees collected.






28. An international logistics specialist that custom packs shipments when the exporter lacks the equipment or expertise to do so itself.






29. Cartels of all ocean vessel operators operating between certain trade areas.






30. Similar to the center-of-gravity locational approach - except that shipping volumes are also taken into account.






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






32. The science that seeks to adapt work or working conditions to suit the abilities of the worker.






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






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






35. Flatboard boat used to transport heavy products.






36. Global Supply Chain Forum






37. A body of facts in a format suitable for decision making.






38. Seeks to minimize inventory by reducing (if not eliminating) safety stock - as well as having the required amount of materials arrive at the production location at the exact time they are needed.






39. The process of determining how a shipment will be moved between consignor and consignee or between place of acceptance by the carrier and place of delivery to the consignee.






40. A company discontinues operations at a current site because the operations are no longer needed or can be absorbed by other facilities.






41. Refers to alphanumeric identification that specifies where a product was processed or manufactured.






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






43. The documents associated with transportation shipments.






44. Costs to seller when it is unable to supply an item to a customer ready to buy.






45. Retail industry initiative where trading partners share planning and forecasting data to better match supply and demand.






46. The seller pays the freight charges and also owns the goods in transit. The is what is generally referred to as FOB destination pricing.






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






48. Bill of Lading






49. The shipper of goods.






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