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






2. 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.






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






4. Refers to alphanumeric identification that specifies where a product was processed or manufactured.






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






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






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






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






9. Artificial intelligence - Sophisticated use of the computer in which it is programmed to 'think' as a trained - skilled human in specific situations.






10. 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.






11. An international logistics specialist that custom packs shipments when the exporter lacks the equipment or expertise to do so itself.






12. The shipment size that equates transportation charges for different rates and weight groups.






13. Global Supply Chain Forum






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






15. Involves rearranging the quantities and assortment of products as they move through the supply chain.






16. Materials that lose no weight in processing.






17. Inventory is replenished on a constant - set schedule and is always ordered at a specific time; the quantity ordered varies depending on forecasted sales before the next order date.






18. Conformance to mutually agreed upon requirements.






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






20. Refers to systems that consider the return flow of products - their reuse - and the marketing and distribution of recovered products.






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






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






23. The degree to which an organization can accommodate unique or unplanned customer requests.






24. Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data.






25. Satisfying current and emerging customer needs.






26. A set of generic standards used to document - implement - and demonstrate quality management and assurance systems.






27. Transportation service that is supplemental to line-haul transportation.






28. Bill of Lading






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






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






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






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






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






34. Organizations that exploit workers and that do not comply with fiscal and legal obligations toward employees.






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


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






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






38. Inventory is replenished with a set quantity every time it is ordered; the time interval between orders may vary.






39. Refers to a product's being in a form that (1) can be used by the customer and (2) is of value to the customer.






40. Refers to software that has been developed for managers to deal with specifics logistics functions or activities (e.g. transportation management systems)






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






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






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






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






45. Inventories that are used or distributed together (e.g. razor blades and razors).






46. Cargo reaches a vehicle's or a container's weight capacity without filling its cubic capacity.






47. 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.






48. A measure of how heavy a product is in relation to its size.






49. A company that helps both shipper and carrier achieve lower freight rates and more efficient utilization of carrier equipment. Brokers also help match carriers to loads.






50. Logistics-related decisions are made separately at the divisional or product group level and often in different geographic regions.