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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. Medium- to long-term horizon - One- to five-year (plus) time span - Overall 'structural' decisions - Trade-offs between company functions - Trade-offs with other organizations - Corporate financial plans and policies - Policy decisions developed into






2. Short- to medium-term horizon - Six-month to one-year (plus) time-span - Subsystem decisions are made - - should not impose on other logistics components - Annual budgets provide finance/cost basis - The strategic plan detail is made into an operatio






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






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






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






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






7. The distance between the inner sides of two parallel rail tracks.






8. A flat sheet of either fiberboard material or plastic that is placed under the unit load.






9. Refers to the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers.






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






11. Bringing together inventory from different sources.






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






13. Plastic wrapping that when heated shrinks in size to form a cover over the product.






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






15. The degree to which an organization can accommodate unique or unplanned customer requests.






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






17. Goods moving between two points - often accompanied by a live bill of lading.






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






19. Multiple logistics activities are combined into - and managed as - a single department.






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






21. Materials that lose no weight in processing.






22. A framework that identifies five key processes - plan - source - make - deliver - return - associated with supply chain management.






23. Truck trailers of flatcars.






24. A specific rate for every possible combination of product - weight - and distance.






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






26. Boxes or other containers secured to a pallet or slip sheet.






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






28. Employees who are sent to other countries for extended periods of time.






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

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






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






32. Bill of Lading






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






34. The shipper of goods.






35. An international trade specialist that can handle either vessel shipments or air shipments and that offers a number of different functions such as booking space on carriers - obtaining consular documents - and arranging for insurance - among other






36. Stocks of goods and materials that are maintained for many purposes.






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






38. The time span within which a scheduled delivery must be made.






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






40. Emphasizes a speed or time component.






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






42. Refers to alphanumeric identification that specifies where a product was processed or manufactured.






43. Facilitators that make the channel function better.






44. A location technique utilizing a map or grid - with specific locations marked on the north-south and east-west axes. Its purpose is to find a location that minimizes transportation costs.






45. Building up a variety of different products for resale to a particular customer.






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






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






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






49. Involves rearranging the quantities and assortment of products as they move through the supply chain.






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







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