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. Refers to removing impediments to the flow of information and goods.






2. General contractor that ensures that third-party logistics companies are working toward relevant supply chain goals and objectives.






3. 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.






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






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






6. The shipper of goods.






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






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






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






10. A long-term arrangement between a shipper and another party to provide logistics services that is characterized by relational focus - a focus on mutual benefits - and the availability of customized offerings.






11. The depth in the water to which a vessel can be loaded.






12. The percentage of orders that can be completely and immediately filled from existing stock.






13. Characterized by variability in demand orders among supply chain participants.






14. The science that seeks to adapt work or working conditions to suit the abilities of the worker.






15. The buying and controlling of transportation services by either a shipper or consignee.






16. Focuses on an organization's ability to respond to changes in demand with respect to volume and variety.






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






18. The time from when the seller receives an order until an appropriate location is authorized to fill the order.






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






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






21. Numbers assigned to various types of freight - based mainly on the carrier's costs of handling that type of product - and - along with weight and distance - used as a basis for determining the costs of shipment.






22. The orderly and planned observation of one or more segments in the logistics network or supply chain.






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






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






25. Groups of customers with similar logistical needs and wants are provided with logistics service appropriate to those needs and wants.






26. Organizations that exploit workers and that do not comply with fiscal and legal obligations toward employees.






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






28. 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.






29. Products are produced after receiving a customer order.






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






31. 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.






32. Transportation carrier that has agreed to serve the general public and assumes four legal obligations: service - delivery - reasonable rates - and avoidance of discrimination.






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






34. Money paid before an exchange.






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






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






37. Logistics activities are managed in multiple departments throughout an organizations.






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






39. 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.






40. Analyzing the impacts of small changes - such as adding or subtracting one unit of input.






41. Refers to a combination of water transportation and surface transportation between an origin and destination port.






42. A framework that identifies eight relevant processes - such as customer relationship management - demand management - and order fulfillment - associated with supply chain management.






43. Assemble small shipments into a single - larger shipment.






44. Global Supply Chain Forum






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






46. Factors in the system that cannot be changed for various reasons.






47. The movement and storage of materials into a firm.






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

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49. Are similar to credit cards for personal use - only p-cards are used for organizational purchases.






50. A technique used to model the systems under study - typically using mathematical equations to represent relationships among components of a logistics system.