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. Products are produced after receiving a customer order.






2. The number of tons times the number of miles.






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


4. A company that helps both shipper and carrier achieve lower freight rates and more efficient utilization of carrier equipment. Brokers also help match carriers to loads.






5. An international payment option that is issued by a bank and guarantees payment to a seller provided that the seller has complied with the applicable terms and conditions of the particular transaction.






6. Using a container that can be transferred from the vehicle of one mode to a vehicle of another - and with the movement covered under a single bill of lading.






7. Companies that specialize in transporting parcels or small packages.






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






9. Identifies opportunities to recover revenues or reduce costs associated with scrap - surplus - obsolete - and waste materials.






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






11. 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.






12. Bill of Lading






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






14. For-hire carriers that have been exempted from economic regulation through provisions in various pieces of legislation.






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






16. Refers to forecasting that involves judgment or intuition and is preferred in situations where there is limited - or no - historical data.






17. 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.






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






19. Refers to employees who do not follow company guidelines about which suppliers to use in particular situations.






20. Procurement activities that meet the ethical and discretionary responsibilities expected by society.






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






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






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






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






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






26. Product for which there is no demand.






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






28. Taxes that governments place on the importation of certain items.






29. 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.






30. Cargo on which taxes or duties have yet to be paid. The owner must post a bond or use a bonded carrier or warehouse to guarantee that the materials will not be sold until the taxes or duties are paid.






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






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






33. Flatboard boat used to transport heavy products.






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






35. An order that simultaneously achieves relevant customer metrics.






36. Analogous to personal property taxes paid by individuals - and inventory tax is based on the value of inventory that is held by an organization on the assessment date.






37. Money paid after an exchange.






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






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






40. Breaking larger quantities into smaller quantities.






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






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






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






44. 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.






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






46. Cooperative - formal or informal supply chain relationships between manufacturing companies and their suppliers - business partners - or customers - developed to enhance the overall business performance of both sides.






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






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






49. Conformance to mutually agreed upon requirements.






50. For international transactions - refers to determining when and where to transfer between buyer and seller - the physical goods - the payment for goods - legal title - required documentation as well as responsibility for controlling and caring f