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. A one-size-fits-all approach in which every customer gets the same type and levels of logistics service.






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






3. Materials that lose no weight in processing.






4. Each product is assigned a specific location in a warehouse and is always stored there.






5. The degree to which an organization can accommodate unique or unplanned customer requests.






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






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






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






9. Having products available where they are needed by customers.






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






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






12. Elapsed time between a customer places an order and when the goods are received.






13. The cost of giving up an alternative opportunity.






14. Refers to software that has been developed for managers to deal with specifics logistics functions or activities (e.g. transportation management systems)






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






16. Helps managers make decisions by providing information - models - or analysis tools.






17. Stock that exceeds the reasonable requirements of an organization.






18. An order size that minimizes the sum of carrying and ordering costs.






19. In international trade - a firm that provides carrier services to shippers but owns no vessels itself.






20. Contains relevant export transaction data such as the transportation mode(s) - transaction participants - and description of what is being exported.

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


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






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






23. Looks at a single aspect of logistics - such as a time-and-motion study of individuals who handle incoming freight at a receiving dock.






24. Employees who are sent to other countries for extended periods of time.






25. 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.






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






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






28. 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.






29. An organization maintains a single logistics department that administers the related activities for the entire company from the home office.






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






31. An order picker goes to where the product is located (e.g. - a forklift).






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






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






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






35. Inventory needed to satisfy demand during an order cycle.






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






37. Changes to one logistics activity cause some costs to increase and others to decrease.






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






39. An analysis of workers' productivity over short periods of time. Each worker is assigned specific duties that he or she should be able to complete during the time period provided.






40. Having products available when they are needed by customers.






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






42. Storage of finished product and movement to the customers.






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






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






45. The most important single transportation document that is the operating document in the industry.






46. These are materials that are no longer serviceable - have been discarded - or are a by-product of the production process.






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






48. An area - usually near a port or an airport - where goods can be stored or processed before entering through the importing nation's customs inspections.






49. Occurs when the shipper notifies the carrier - prior to the shipment's arrival in the destination city - of a change in destination.






50. Taking and removing personal property with the intent to deprive the rightful owner of it.