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






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






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






4. Money paid after an exchange.






5. Global Supply Chain Forum






6. Materials that lose no weight in processing.






7. Refers to the value or usefulness that comes from a customer being able to take possession of a product.






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






9. Employee theft.






10. Concept that suggests that all relevant activities in moving and storing products should be considered as a whole (i.e. - their total cost) - not individually.






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






12. Analogous to personal property taxes paid by individuals - and inventory tax is based on the value of inventory that is held by an organization on the assessment date.






13. 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.






14. Day-to-day decision making - Operations controlled against standards and rules - Control via weekly/monthly reports - The implementation of the operational plan






15. The time from when the seller receives an order until an appropriate location is authorized to fill the order.






16. That part of a firm's logistics system that stores products at and between points of origin and point of consumption.






17. Money paid before an exchange.






18. Each separate type of item that is accounted for in an inventory.






19. Nonprofit membership cooperatives that perform basically the same function as freight forwarders.

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20. Firm the helps a domestic company become involved in foreign sales. They often locate foreign firms that can be licensed to manufacture the product in the foreign country.






21. Flatboard boat used to transport heavy products.






22. The elapsed time from when an order is picked up by a transportation carrier until it is received by the customer.






23. The percentage of orders that can be completely and immediately filled from existing stock.






24. 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.






25. Refers to corporate officers such as a chief executive officer (CEO) - chief operating officer (COO) - or chief financial officer (CFO).

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






27. Damage that is not initially apparent but is discovered after a package is opened.






28. Price of the product at its source plus transportation costs to its destination.






29. A flat sheet of either fiberboard material or plastic that is placed under the unit load.






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






31. A process where product is received in a facility - occasionally married with product going to the same destination - then shipped at the earliest opportunity - without going into long-term storage.






32. Uses the internet to make it easier - faster - and less expensive for an organization to purchase goods and services.






33. Truck trailers of flatcars.






34. Logistics Information System






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






36. The seller pays the freight charges in advance but bills the buyer for them. The buyer owns the goods in transit.






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






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






39. 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.






40. Materials used for the containment - protection - handling - delivery - and presentation of goods.






41. 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.






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






43. People - equipment - and procedures to gather - sort - analyze - evaluate - and distribute needed - timely - and accurate information to logistics decision makers.






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






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






46. An analysis of workers' productivity over short periods of time. Each worker is assigned specific duties that he or she should be able to complete during the time period provided.






47. 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






48. Gross domestic product






49. Buyer pays a lower freight charge than the shipper incurs in shipping the product.






50. 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.