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






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






3. The delay of value-added activities such as assembly - production - and packaging to the latest possible time.






4. 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.






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






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

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






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






9. A buyer invites bids from multiple sellers - and the seller with the lowest bid is often awarded the business.






10. Movement and storage of raw materials - parts - and components within a firm.






11. An order that simultaneously achieves relevant customer metrics.






12. Refers to the amount of product entering and leaving a facility in a given time period.






13. Inventories that are used or distributed together (e.g. razor blades and razors).






14. 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.






15. A long-term arrangement between a shipper and another party to provide logistics services.






16. Product for which there is no demand.






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






18. A practice that emphasizes the virtual elimination of business errors that strives to achieve 3.4 defects - deficiencies - or errors per one million opportunities.






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






20. A uniform sealed reusable metal 'box' in which goods are shipped.






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






22. 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.






23. Flatboard boat used to transport heavy products.






24. Often accompanies an SED and provides explicit shipment instructions.

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






26. Transportation service that is supplemental to line-haul transportation.






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






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






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






30. A carrier or public facility where freight (or passengers) is shifted between vehicles or modes.






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






32. Truck trailers of flatcars.






33. Prohibition of trade between particular countries.






34. The documents associated with transportation shipments.






35. An alternative name for airfreight containers.






36. Strives to keep customers happy and creates in the customer's mind the perception of an organization that is easy to do business with.






37. The time from when the customer places or sends the order to when the seller receives it.






38. Occurs in delivered pricing when a buyer pays an excessive freight charge calculated into the price of the goods.






39. 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.






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

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41. Inventory is replenished on a constant - set schedule and is always ordered at a specific time; the quantity ordered varies depending on forecasted sales before the next order date.






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






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






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






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






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






47. Bringing together inventory from different sources.






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






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






50. Facts or recorded measures of certain phenomena.