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






2. Money paid before an exchange.






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






4. In international trade - a firm that provides carrier services to shippers but owns no vessels itself.






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

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






7. 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.






8. The most important single transportation document that is the operating document in the industry.






9. Product for which there is no demand.






10. Occurs when the shipper notifies the carrier - prior to the shipment's arrival in the destination city - of a change in destination.






11. According to the Council of Supply Chain Management Professionals - SCM encompasses the planning and management of all activities involved in sourcing and procurement - conversion - and all logistics management activities. Importantly - it also i






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






13. Goods that flow from the consumer to the manufacturer (e.g. - product recalls and product recycling).






14. Facts or recorded measures of certain phenomena.






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






16. Having products available when they are needed by customers.






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






18. Refers to how easy a commodity is to pack into a load.






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






20. 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.






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






22. Refers to software that has been developed for managers to deal with specifics logistics functions or activities (e.g. transportation management systems)






23. Global Supply Chain Forum






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






25. Being out of an item at the same time there is a willing buyer for it.






26. Refers to corporate officers such as a chief executive officer (CEO) - chief operating officer (COO) - or chief financial officer (CFO).

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27. 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.






28. The shipper of goods.






29. Satisfying current and emerging customer needs.






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






31. Employee theft.






32. Retail industry initiative where trading partners share planning and forecasting data to better match supply and demand.






33. Provides specialized service to each customer based on a contractual arrangement.






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






35. State laws that specify that a worker does not have to join the union to work permanently at a facility.






36. Software packages that control the movement and storage of materials within a warehousing facility.






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






38. 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.






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






40. The need to rapidly move a shipment to its final destination.






41. An order picker goes to where the product is located (e.g. - a forklift).






42. 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.






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






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






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






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






47. The shipment size that equates transportation charges for different rates and weight groups.






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






49. Provide effective ways to process personal and organizational business data - to perform calculations - and to create documents.






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