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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. A strategic orientation in which traditional logistics activities are managed as a value-added system.






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






3. Truck trailers of flatcars.






4. Breaking larger quantities into smaller quantities.






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






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






7. 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.






8. Their intent is to incorporate nonbusiness factors (e.g. - cost of living - crime rate - educational opportunities) into the decision of where to locate a plant or distribution facility.






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






10. Refers o cargo stowed loose - without specific packing - and generally handled with a pump - scoop - or shovel.






11. The level of inventory at which a replenishment order is placed.






12. Short- to medium-term horizon - Six-month to one-year (plus) time-span - Subsystem decisions are made - - should not impose on other logistics components - Annual budgets provide finance/cost basis - The strategic plan detail is made into an operatio






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






14. Logistics-related decisions are made separately at the divisional or product group level and often in different geographic regions.






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






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






17. 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.






18. Materials requested by a customer that are unavailable for shipment at the same time as the reminder of the order. They are usually shipped when available.






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






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






21. Refers to communication without cables and cords - and includes infrared - microwave - and radio transmissions.






22. A degree of aggressive procurement involvement not normally encountered in supplier selection.






23. Refers to systems that consider the return flow of products - their reuse - and the marketing and distribution of recovered products.






24. 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.






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






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






27. Buyer pays a lower freight charge than the shipper incurs in shipping the product.






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






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






30. An organization's ability to address unexpected operational situations.






31. The buyer pays the freight charges when the goods arrive - and the seller owns the goods while they are in transit.






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






33. Strategic - Tactical - Operational






34. The removal of levels (layers) from a channel of distribution.






35. Manufacturing plants that exist just south of the U.S.-Mexican border.






36. The seller pays the freight charges in advance but bills the buyer for them. The buyer owns the goods in transit.






37. Retailers that are characterized by large market share and low prices.






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






39. The orders to be picked are identified by lights placed on shelves or racks.






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






41. Material that is used to block and brace products inside carrier equipment to prevent the shipment from shifting in transit and becoming damaged.






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






43. Classifying orders according to pre-established guidelines so that a company can prioritize how orders should be filled.






44. Refers to how easy a commodity is to pack into a load.






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






46. Collects and stores information about transactions and may also control some aspects of transactions.






47. Refers to waterborne transportation that utilizes inland and coastal waterways to move shipments from domestic ports to their destination.






48. Plastic wrapping that when heated shrinks in size to form a cover over the product.






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






50. Refers to corporate officers such as a chief executive officer (CEO) - chief operating officer (COO) - or chief financial officer (CFO).

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