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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. Each separate type of item that is accounted for in an inventory.






2. A system in which the size and timing of replenishment orders into a retailer's system are the manufacturer's responsibility.






3. Emphasizes a speed or time component.






4. Packaging tapered articles inside each other to reduce the cubic volume of the entire shipment.






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






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






7. An order that simultaneously achieves relevant customer metrics.






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






9. A transportation manager who purchases a prespecified level of transportation service and is indifferent to the mode(s) or carrier(s) used to provide the actual transportation service.






10. 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.






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






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






13. Established in the late 1980s to recognize U.S. organizations for their achievements in quality and performance.






14. The creation across the supply chain and its markets of coordinated flow of demand. The three basic types of forecasting models are: 1-judgmental - 2-time series - 3-cause and effect.






15. Products are produced after receiving a customer order.






16. The buyer pays freight charges and owns the goods in transit. This is the most common FOB origin term.






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






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

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19. Refer to the manner by which a seller will be paid by a buyer for an international transaction.






20. 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.






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






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






23. According to the Council of Supply Chain Management Professionals (CSCMP) - that part of supply chain management that plans - implements - and controls the efficient - effective forward and reverse flow and storage of goods - services - and rel






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






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






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






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






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






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






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






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






32. A small device that responds to radio signals from an outside source.






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






34. Creating - maintaining - and enhancing strong relationships with customers and other stakeholders.






35. 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.






36. A program in which public and private organizations work together to prevent terrorism against the United States through imports and transportation.






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






38. A common credential that will be used to identify workers across all modes of transportation.






39. Inventory that is in route between various nodes in a logistics system.






40. 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.






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






42. An approach for locating a single facility that minimizes the distance to existing facilities.






43. Cargo reaches a vehicle's or a container's weight capacity without filling its cubic capacity.






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






45. 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.






46. A U.S. government agency with primary responsibility for regulating railroad pricing and service.






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






48. Pricing that includes both the price of the product and the transportation cost of the product to the purchaser's receiving dock.






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






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