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. Refers to buying components and inputs anywhere in the world.






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






3. Consolidates freight shipments and buys transportation services in volume rates.






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






5. Satisfying current and emerging customer needs.






6. Product for which there is no demand.






7. Positive - long-term relationships between supply chain participants.






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






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






10. A product that gains weight in processing; the processing point should be close to the market.






11. 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.






12. A long-term arrangement between a shipper and another party to provide logistics services that is characterized by relational focus - a focus on mutual benefits - and the availability of customized offerings.






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






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






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






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






17. These help various stake-holders to work together by interacting and sharing information in many different forms.






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






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






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






21. Terminal-to-terminal movement of freight or passengers.






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






23. Unused available space.






24. The creation across the supply chain and its markets of coordinated flow of demand. The three basic types of forecasting models are: 1-judgmental - 2-time series - 3-cause and effect.






25. The time from when the customer places or sends the order to when the seller receives it.






26. Simulation of the types of problems that the package will be exposed to in warehouses and in transit.






27. Employee theft.






28. 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






29. The buyer pays freight charges and owns the goods in transit. This is the most common FOB origin term.






30. For-hire carriers that have been exempted from economic regulation through provisions in various pieces of legislation.






31. Refers to security throughout the entire supply chain.






32. Groups of customers with similar logistical needs and wants are provided with logistics service appropriate to those needs and wants.






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






34. Using measures of another organization's performance to judge one's own performance.






35. Prohibition of trade between particular countries.






36. According to the Council of Supply Chain Management Professionals - SCM encompasses the planning and management of all activities involved in sourcing and procurement - conversion - and all logistics management activities. Importantly - it also i






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






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






39. Bringing together inventory from different sources.






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






41. Flatboard boat used to transport heavy products.






42. Transportation carrier that has agreed to serve the general public and assumes four legal obligations: service - delivery - reasonable rates - and avoidance of discrimination.






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






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






45. A major port where thousands of containers arrive and depart per week. These ports specialize in the efficient handling of containers.






46. A cartel consisting of nearly all the world's scheduled international airlines.






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






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






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






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