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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. Retailers that are characterized by large market share and low prices.






2. Artificial intelligence - Sophisticated use of the computer in which it is programmed to 'think' as a trained - skilled human in specific situations.






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






4. The seller pays the freight charges - but the buyer owns the goods in transit.






5. Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data.






6. Strategic - Tactical - Operational






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






8. aka bulk-breaking






9. Established in the late 1980s to recognize U.S. organizations for their achievements in quality and performance.






10. Factors in the system that cannot be changed for various reasons.






11. Refers to a combination of water transportation and surface transportation between an origin and destination port.






12. Facts or recorded measures of certain phenomena.






13. Cooperative - formal or informal supply chain relationships between manufacturing companies and their suppliers - business partners - or customers - developed to enhance the overall business performance of both sides.






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

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






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






17. 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






18. The orders to be picked are identified by lights placed on shelves or racks.






19. Refers to forecasting that involves judgment or intuition and is preferred in situations where there is limited - or no - historical data.






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






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






22. These help various stake-holders to work together by interacting and sharing information in many different forms.






23. 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.






24. Their intent is to incorporate nonbusiness factors (e.g. - cost of living - crime rate - educational opportunities) into the decision of where to locate a plant or distribution facility.






25. A long-term arrangement between a shipper and another party to provide logistics services.






26. 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.






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






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






29. Occurs in delivered pricing when a buyer pays an excessive freight charge calculated into the price of the goods.






30. One location where customers can purchase products from two or more name-brand retailers.






31. Organizations that exploit workers and that do not comply with fiscal and legal obligations toward employees.






32. The receiver of a shipment.






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






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






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






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






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






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






40. A firm must move operations to another facility to better serve suppliers or customers.






41. 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.






42. Logistics Information System






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






44. In transportation - a small quantity or small package.






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






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






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






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






49. 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.






50. Bill of Lading







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