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






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






3. A small device that responds to radio signals from an outside source.






4. 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.






5. A major port where thousands of containers arrive and depart per week. These ports specialize in the efficient handling of containers.






6. A set of generic standards used to document - implement - and demonstrate quality management and assurance systems.






7. 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






8. Inventory that is in route between various nodes in a logistics system.






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






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






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






12. The receiver of a shipment.






13. 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.






14. According to the Council of Supply Chain Management Professionals (CSCMP) - that part of supply chain management that plans - implements - and controls the efficient - effective forward and reverse flow and storage of goods - services - and rel






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






16. A product that gains weight in processing; the processing point should be close to the market.






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






18. The time from when a transportation carrier picks up the shipment until it is received by the customer.






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






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






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






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






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






24. Truck trailers on flatcars - also referred to as TOFC.






25. An individual or firm in the business of carrying cargo or passengers.






26. An intermediary that oversees the efficient movement of importers' goods (and accompanying paperwork) through customs and other inspection points.






27. An order that simultaneously achieves relevant customer metrics.






28. An area - usually near a port or an airport - where goods can be stored or processed before entering through the importing nation's customs inspections.






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






30. People - equipment - and procedures to gather - sort - analyze - evaluate - and distribute needed - timely - and accurate information to logistics decision makers.






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






32. A framework that identifies eight relevant processes - such as customer relationship management - demand management - and order fulfillment - associated with supply chain management.






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






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






35. Refers to waterborne transportation that utilizes inland and coastal waterways to move shipments from domestic ports to their destination.






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






37. The cost of giving up an alternative opportunity.






38. Fixed facilities - such as a plant - warehouse - or store - in a logistics system.






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






40. Strategic - Tactical - Operational






41. aka bulk-breaking






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






43. Employee theft.






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






45. Computer-to-computer transmission of business data in a structured format.






46. U.S. federal government body with primary responsibility for transportation safety regulation.






47. 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.






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






49. Mixes attributes of public and contract warehousing; services are more differentiated than a public facility but less customized than in a contract facility.






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







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