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. Product for which there is no demand.






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






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






4. The management of the various activities associated with the order cycle.






5. The term associated with the handling of unit loads.






6. Cartels of all ocean vessel operators operating between certain trade areas.






7. For international transactions - refers to determining when and where to transfer between buyer and seller - the physical goods - the payment for goods - legal title - required documentation as well as responsibility for controlling and caring f






8. 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.






9. 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.






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






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






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






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






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






15. Goods moving between two points - often accompanied by a live bill of lading.






16. 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.






17. Strategic - Tactical - Operational






18. 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






19. Classifying orders according to pre-established guidelines so that a company can prioritize how orders should be filled.






20. Materials that lose no weight in processing.






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






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






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






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






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






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






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






28. Flatboard boat used to transport heavy products.






29. Money paid before an exchange.






30. The shipper of goods.






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






32. Elapsed time between a customer places an order and when the goods are received.






33. Pricing that includes both the price of the product and the transportation cost of the product to the purchaser's receiving dock.






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






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






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






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






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






39. Short- to medium-term horizon - Six-month to one-year (plus) time-span - Subsystem decisions are made - - should not impose on other logistics components - Annual budgets provide finance/cost basis - The strategic plan detail is made into an operatio






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






41. The buyer pays the freight charges when the goods arrive - and the seller owns the goods while they are in transit.






42. 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.






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






44. 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.






45. Money paid after an exchange.






46. Restrictions other than tariffs that are placed on imported products.






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






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






49. The documents associated with transportation shipments.






50. Software packages that control the movement and storage of materials within a warehousing facility.