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






2. Companies that specialize in transporting parcels or small packages.






3. Product for which there is no demand.






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






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






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






7. Are similar to credit cards for personal use - only p-cards are used for organizational purchases.






8. aka bulk-breaking






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






10. 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.






11. The science that seeks to adapt work or working conditions to suit the abilities of the worker.






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






13. Bringing together inventory from different sources.






14. 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.






15. Refer to the manner by which a seller will be paid by a buyer for an international transaction.






16. Facilitators that make the channel function better.






17. A strategic orientation in which traditional logistics activities are managed as a value-added system.






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






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






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






21. Bill of Lading






22. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.






23. Separating products into grades and qualities desired by different target markets.






24. 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.






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






26. These are material that have been spoiled - broken - or otherwise rendered unfit for further use or reclamation.






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






28. Using a container that can be transferred from the vehicle of one mode to a vehicle of another - and with the movement covered under a single bill of lading.






29. Requires a certain percentage of traffic to move on a nation's flag vessels.






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






31. Use satellites that allow companies to compute vehicle positions - velocity - and time.






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






33. Gross domestic product






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






35. Refers to how easy a commodity is to pack into a load.






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






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






38. A type of contract logistics that focuses on providing unique and specially tailored warehousing services to particular clients.






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






40. 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.






41. Breaking larger quantities into smaller quantities.






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






43. Materials that lose no weight in processing.






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






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






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






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






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






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






50. A location technique utilizing a map or grid - with specific locations marked on the north-south and east-west axes. Its purpose is to find a location that minimizes transportation costs.