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






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






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






4. The buying and controlling of transportation services by either a shipper or consignee.






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






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






7. The distance between the inner sides of two parallel rail tracks.






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






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






10. A return trip or movement in a direction of secondary importance or purpose.






11. Specifies the country(ies) in which a product is manufactured.






12. Logistics Information System






13. All activities associated with the flow and transformation of goods from the raw material stage - through to the end user - as well as the associated information flows.






14. A document used in cross-border trade that summarizes the entire transaction and contains key information such as a description of the goods - terms of sale and payments - and so on.






15. Looks at a single aspect of logistics - such as a time-and-motion study of individuals who handle incoming freight at a receiving dock.






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






17. 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






18. Satisfying current and emerging customer needs.






19. Unused available space.






20. An order size that minimizes the sum of carrying and ordering costs.






21. The management of the various activities associated with the order cycle.






22. Medium- to long-term horizon - One- to five-year (plus) time span - Overall 'structural' decisions - Trade-offs between company functions - Trade-offs with other organizations - Corporate financial plans and policies - Policy decisions developed into






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






24. An alternative name for airfreight containers.






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






26. An international payment option that is issued by a bank and guarantees payment to a seller provided that the seller has complied with the applicable terms and conditions of the particular transaction.






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






28. Products are produced prior to receiving a customer order.






29. A carrier or public facility where freight (or passengers) is shifted between vehicles or modes.






30. An international trade specialist that can handle either vessel shipments or air shipments and that offers a number of different functions such as booking space on carriers - obtaining consular documents - and arranging for insurance - among other






31. Bringing together inventory from different sources.






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






33. Products are produced after receiving a customer order.






34. Groups of customers with similar logistical needs and wants are provided with logistics service appropriate to those needs and wants.






35. An invoice submitted by a transportation carrier requesting to be paid.






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






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. Money paid after an exchange.






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






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






41. Strategic - Tactical - Operational






42. The receiver of a shipment.






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






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






45. 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






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






47. A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm - such as marketing - production - finance - and logistics.






48. Refers to the fact that more items are recorded entering than leaving warehouse facilities.






49. The removal of levels (layers) from a channel of distribution.






50. Gross domestic product







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