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Logistics Vocab

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. 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.






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






3. 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.






4. Gross domestic product






5. The process of determining how a shipment will be moved between consignor and consignee or between place of acceptance by the carrier and place of delivery to the consignee.






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






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






8. Bringing together inventory from different sources.






9. Global Supply Chain Forum






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






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






12. A carrier's attempt to determine a shipment's location during the course of its move.






13. Money paid after an exchange.






14. 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.






15. Refers to communication without cables and cords - and includes infrared - microwave - and radio transmissions.






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






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






18. A system in which products are stored wherever there is empty space available in a warehouse.






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






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






21. Refers to the number of transportation modes available to prospective users.






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






23. Goods that flow from the consumer to the manufacturer (e.g. - product recalls and product recycling).






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






25. Being out of an item at the same time there is a willing buyer for it.






26. 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.






27. A company discontinues operations at a current site because the operations are no longer needed or can be absorbed by other facilities.






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






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






30. Refers to the value or usefulness of a product in fulfilling customer needs and wants.






31. A uniform sealed reusable metal 'box' in which goods are shipped.






32. Refers to removing impediments to the flow of information and goods.






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






34. A body of facts in a format suitable for decision making.






35. 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.






36. 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.






37. The depth in the water to which a vessel can be loaded.






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






39. 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.






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






41. Refers to an alliance in the container trades in which ocean carriers retain their individual identities but cooperate in the area of operations.






42. 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.






43. Situation where a process - procedure - or system yields less than the best possible outcome or output - caused by a lack of best possible coordination between different components - elements - parts - etc.






44. Electronic devices that read bar codes and can be used to keep track inventory - reorder inventory - and analyze inventory patterns.






45. Contains relevant export transaction data such as the transportation mode(s) - transaction participants - and description of what is being exported.

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46. Emphasize the storage of products and their primary purpose is to maximize usage of available storage space.






47. 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






48. The time from when a transportation carrier picks up the shipment until it is received by the customer.






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






50. 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







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