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






2. Transport products that are ground into a powder - mixed with water - and then shipped in slurry form through a pipeline.






3. 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.






4. 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.






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






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






7. Strategic - Tactical - Operational






8. A strategic orientation where a diverse group of logistics activities - together with other activities - are managed as a channel system.






9. Refers to ships that register in nations that have lax maritime registration rules - particularly with respect to safety requirements.






10. An alternative name for airfreight containers.






11. A small platform (made of plastic - steel - or wood) on which goods are placed for handling by mechanical means.






12. Simulation of the types of problems that the package will be exposed to in warehouses and in transit.






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






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






15. Cartels of all ocean vessel operators operating between certain trade areas.






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






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






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






19. Bill of Lading






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






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






22. 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






23. 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






24. Economic activity that can be conducted via electronic connections such as EDI and the internet.






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






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






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






28. 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.






29. Absolute limits to the quantity of a product that can be imported into a country during a particular time period.






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






31. A strategic orientation in which a limited number of traditional logistics activities are managed across business units.






32. Changes to one logistics activity cause some costs to increase and others to decrease.






33. 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.






34. Having products available where they are needed by customers.






35. Material that is used to block and brace products inside carrier equipment to prevent the shipment from shifting in transit and becoming damaged.






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






37. Created by the U.S. Department of Housing and Urban Development to encourage business development-through various tax credits-in economically depressed portions of cities.






38. Piggyback traffic - or loading truck trailers onto rail flatcars.






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






40. Combining smaller packages into larger unites that can be more efficiently handled at one time.






41. 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.






42. Considers a shipment's density (the amount of space occupied relative to weight) to determine a shipment's billable weight.






43. Locations that contain chemicals or other types of industrial wastes.






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






45. 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.






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






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






48. Terms of sale for international transactions that represent - from the seller's viewpoint - the different locations - or stages - for quoting a price to an overseas buyer.






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






50. Refers to security throughout the entire supply chain.