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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. Refers to logistical activities associated with goods that move across national boundaries.






2. Consolidates freight shipments and buys transportation services in volume rates.






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






4. Refers to security throughout the entire supply chain.






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






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






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






8. One location where customers can purchase products from two or more name-brand retailers.






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






10. Includes all activities from when an appropriate location is authorized to fill an order until goods are loaded aboard an outbound carrier.






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






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






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






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






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






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






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






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






19. A substance or material in a quantity and form that may pose an unreasonable risk to health and safety or property when transported in commerce.






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






21. Refers to a product's being in a form that (1) can be used by the customer and (2) is of value to the customer.






22. Prohibition of trade between particular countries.






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






24. The cost of giving up an alternative opportunity.






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






26. Day-to-day decision making - Operations controlled against standards and rules - Control via weekly/monthly reports - The implementation of the operational plan






27. 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.






28. Twenty-foot equivalent unit; a measure of the number of 20-foot containers that are used or handled.






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






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






31. These help various stake-holders to work together by interacting and sharing information in many different forms.






32. System that attempts enterprisewide coordination of relevant business processes by allowing (conceptually - at least) all functional areas within a firm to access and analyze a common database.






33. A body of facts in a format suitable for decision making.






34. Electronic devices that read bar codes and can be used to keep track inventory - reorder inventory - and analyze inventory patterns.






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






36. Breaking larger quantities into smaller quantities.






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






38. Positive - long-term relationships between supply chain participants.






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






40. Employee theft.






41. Requires a certain percentage of traffic to move on a nation's flag vessels.






42. Facilitators that make the channel function better.






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






44. Goods that flow from the consumer to the manufacturer (e.g. - product recalls and product recycling).






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






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






47. Money paid before an exchange.






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






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






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






Can you answer 50 questions in 15 minutes?



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