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. 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.






2. The seller owns the goods in transit - prepays the freight charges - and bills the buyer for the freight charges.






3. Compares actual experience to the expected experience and if the actual experience equals or exceeds the expected experience - then the customer is satisfied.






4. Strategic - Tactical - Operational






5. Refers to warehousing situations where goods are not released until applicable fees are paid. As an example - Internal Revenue Service - bonded warehouses hold goods other federal taxes and fees collected.






6. An organization maintains a single logistics department that administers the related activities for the entire company from the home office.






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






8. Creating - maintaining - and enhancing strong relationships with customers and other stakeholders.






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






10. 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.






11. A common credential that will be used to identify workers across all modes of transportation.






12. A strategic orientation in which a limited number of traditional logistics activities are managed across business units.






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






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






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






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






17. A U.S. federal agency that regulates workplaces to ensure the safety of workers.






18. Companies that specialize in providing various types of logistics services.






19. 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.






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






21. Absolute limits to the quantity of a product that can be imported into a country during a particular time period.






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






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






24. Collects and stores information about transactions and may also control some aspects of transactions.






25. Money paid after an exchange.






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






27. 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






28. Stocks of goods and materials that are maintained for many purposes.






29. Focuses on an organization's ability to respond to changes in demand with respect to volume and variety.






30. Cargo reaches a vehicle's or a container's weight capacity without filling its cubic capacity.






31. Refers to employees who do not follow company guidelines about which suppliers to use in particular situations.






32. Truck trailers of flatcars.






33. The term associated with the handling of unit loads.






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






35. A technique that seeks to better understand the cost of a product by identifying what activities drive particular costs.






36. Assemble small shipments into a single - larger shipment.






37. A one-size-fits-all approach in which every customer gets the same type and levels of logistics service.






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






39. Generates and uses few or no paper documents and relies on technology to accomplish the relevant tasks.






40. The time span within which a scheduled delivery must be made.






41. Includes all activities from when an appropriate location is authorized to fill an order until goods are loaded aboard an outbound carrier.






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






43. Strives to keep customers happy and creates in the customer's mind the perception of an organization that is easy to do business with.






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






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






46. Refers to systems that consider the return flow of products - their reuse - and the marketing and distribution of recovered products.






47. Similar to common carriers in that public warehousing serves all legitimate users and has certain responsibilities to this users.






48. Depicts the demand for - and replenishment of - inventory.






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






50. Having products available where they are needed by customers.