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 number of times an inventory is used or replaced each year.






2. Computer-to-computer transmission of business data in a structured format.






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






4. The cost of giving up an alternative opportunity.






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






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






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






8. Refer to materials that are not likely to ever be used by the organization that purchased it.






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






10. State laws that specify that a worker does not have to join the union to work permanently at a facility.






11. Created by the U.S. Department of Housing and Urban Development to encourage business development-through various tax credits-in economically depressed portions of cities.






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






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






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






15. The short-distance movement of material between two or more points.






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






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






18. Conformance to mutually agreed upon requirements.






19. Companies whose primary business is other than transportation provide their own transportation service by operating truck - railcars - barges - ships - or airplanes.






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






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






22. Money paid before an exchange.






23. aka bulk-breaking






24. Use satellites that allow companies to compute vehicle positions - velocity - and time.






25. Identifies opportunities to recover revenues or reduce costs associated with scrap - surplus - obsolete - and waste materials.






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






27. An alternative name for airfreight containers.






28. A payment from a shipper or consignee to a truck carrier for having kept the carrier's equipment too long.






29. 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.






30. The documents associated with transportation shipments.






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

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32. Refers to the value or usefulness of a product in fulfilling customer needs and wants.






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






34. Terms of sale for international transactions that represent - from the seller's viewpoint - the different locations - or stages - for quoting a price to an overseas buyer.






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






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






37. Boxes or other containers secured to a pallet or slip sheet.






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






39. The depth in the water to which a vessel can be loaded.






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






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






42. Involves rearranging the quantities and assortment of products as they move through the supply chain.






43. Provides guidance in terms of a preferred list of carriers for shipments moving between two points.






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






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






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






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






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






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






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