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

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2. Analysis that is performed by a trade association - professional organization - or other entity - on a industry wide basis.






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






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






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






6. Refers to software that users access on a per-use basis instead of software they own or license for installation.






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






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






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






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






11. Conformance to mutually agreed upon requirements.






12. 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.






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






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






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






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






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






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






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

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






21. For international transactions - refers to determining when and where to transfer between buyer and seller - the physical goods - the payment for goods - legal title - required documentation as well as responsibility for controlling and caring f






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






23. Elapsed time between a customer places an order and when the goods are received.






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






25. The amount of output divided by the amount of input.






26. Companies whose primary business is other than transportation provide their own transportation service by operating truck - railcars - barges - ships - or airplanes.






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






28. Unused available space.






29. Refer to materials that are not likely to ever be used by the organization that purchased it.






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






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






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






33. Global Supply Chain Forum






34. A facility temporarily established at the site of inventory; the warehouser assumes custody of the inventory and issues a receipt for it - which can then be used as collateral for a loan.






35. Inventory that is held for several reasons such as seasonal demand - projected price increases - and potential product shortages.






36. Characterized by variability in demand orders among supply chain participants.






37. Employee theft.






38. Product for which there is no demand.






39. Inventory that is held in addition to cycle stock to guard against uncertainties in supply and/or lead time.






40. The number of tons times the number of miles.






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






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






43. Money paid before an exchange.






44. A technique used to model the systems under study - typically using mathematical equations to represent relationships among components of a logistics system.






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






46. A U.S. government agency with primary responsibility for regulating railroad pricing and service.






47. An alternative name for airfreight containers.






48. The use of speech to guide order-picking activities.






49. A system in which products are stored wherever there is empty space available in a warehouse.






50. A system that simplifies each of the three primary rate factors - product - weight - and distance.