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






2. Cargo on which taxes or duties have yet to be paid. The owner must post a bond or use a bonded carrier or warehouse to guarantee that the materials will not be sold until the taxes or duties are paid.






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






4. Characterized by variability in demand orders among supply chain participants.






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






6. An area - usually near a port or an airport - where goods can be stored or processed before entering through the importing nation's customs inspections.






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






8. The number of times an inventory is used or replaced each year.






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






10. Money paid before an exchange.






11. 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






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






13. 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.






14. Factors in the system that cannot be changed for various reasons.






15. The use of radio frequency to identify objects that have been implanted with an RFID tag.






16. 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.






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






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






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






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






21. Having products available when they are needed by customers.






22. A system that simplifies each of the three primary rate factors - product - weight - and distance.






23. The receiver of a shipment.






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






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






26. Refers to the number of carriers within each mode.






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






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






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






30. Price of the product at seller's place of business. Buyer must arrange for transportation of the product from the seller's place of business.






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






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






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






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






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






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






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






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






39. An intermediary that oversees the efficient movement of importers' goods (and accompanying paperwork) through customs and other inspection points.






40. Often accompanies an SED and provides explicit shipment instructions.

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






42. Concept that recognizes that because inventories are not of equal value to a firm - they should not be managed in the same way.






43. Analyzing the impacts of small changes - such as adding or subtracting one unit of input.






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






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






46. Helps managers make decisions by providing information - models - or analysis tools.






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






48. Changes to one logistics activity cause some costs to increase and others to decrease.






49. Refers to the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers.






50. Retail industry initiative where trading partners share planning and forecasting data to better match supply and demand.