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. aka bulk-breaking






2. The movement and storage of materials into a firm.






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






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






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






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






7. Gross domestic product






8. Inventories that are used or distributed together (e.g. razor blades and razors).






9. An agreement in which the world's ports agree to allow U.S. customs agents to identify and inspect high-risk containers bound for the United States before they are loaded onto ships.






10. Facts or recorded measures of certain phenomena.






11. The seller pays the freight charges and also owns the goods in transit. The is what is generally referred to as FOB destination pricing.






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






13. Looks at the entire logistics systems to see how well all of its components function together.






14. Materials that lose no weight in processing.






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






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






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






18. Transportation service that is supplemental to line-haul transportation.






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






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






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






22. The costs of holding an inventory - such as interest on investment - insurance - deterioration - and so on.






23. Building up a variety of different products for resale to a particular customer.






24. Contains relevant export transaction data such as the transportation mode(s) - transaction participants - and description of what is being exported.

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25. A relational exchange approach involving a limited number of suppliers.






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






27. 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






28. A measure of how heavy a product is in relation to its size.






29. Actual physical movement of goods and people between two points.






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






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






32. A warehousing facility that is owned or occupied on a long-term lease by the firm using it.






33. A charge assessed by rail carriers to users that fail to unload and return vehicles or containers promptly.






34. Occurs when a cargo takes up a vehicle's or a container's cubic capacity before reaching its weight capacity.






35. Measurement that ensures conformity with an organization's policies - procedures - or standards.






36. 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






37. Products are produced after receiving a customer order.






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






39. A payment from a shipper or consignee to a truck carrier for having kept the carrier's equipment too long.






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






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






42. Using measures of another organization's performance to judge one's own performance.






43. Refers to the amount of product entering and leaving a facility in a given time period.






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






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






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






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






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






49. Boxes or other containers secured to a pallet or slip sheet.






50. Prohibition of trade between particular countries.