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






2. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.






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






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






5. A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm - such as marketing - production - finance - and logistics.






6. 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.






7. Buyer pays a lower freight charge than the shipper incurs in shipping the product.






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






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






10. Artificial intelligence - Sophisticated use of the computer in which it is programmed to 'think' as a trained - skilled human in specific situations.






11. A document that notifies a transportation carrier of wrong or defective deliveries - delay - or other delivery shortcoming.






12. Conformance to mutually agreed upon requirements.






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






14. An order that simultaneously achieves relevant customer metrics.






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






16. Key suppliers locate on - or adjacent to - automobile plants - which helps reduce shipping costs and inventory carrying costs.






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






18. Materials used for the containment - protection - handling - delivery - and presentation of goods.






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






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






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






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






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






25. Emphasize the storage of products and their primary purpose is to maximize usage of available storage space.






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






27. Assumes that one or more factors are related to demand - and the relationship between cause and effect can be used to estimate future demand.






28. Logistics Information System






29. Allow companies to produce digital maps that can drill down to site-specific qualities such as bridge heights.






30. Price of the product at its source plus transportation costs to its destination.






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






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






33. 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.






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

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


35. Facilitators that make the channel function better.






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






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

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


38. In transportation - a small quantity or small package.






39. Concept that recognizes that because inventories are not of equal value to a firm - they should not be managed in the same way.






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






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






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






43. Satisfying current and emerging customer needs.






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






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






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






47. Products that customers view as being able to fill the same need or want as another product.






48. Refers to communication without cables and cords - and includes infrared - microwave - and radio transmissions.






49. 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.






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