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






2. Companies that specialize in providing various types of logistics services.






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






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






5. The receiver of a shipment.






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






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






8. 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.






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






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






11. Money paid before an exchange.






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






13. Transport products that are ground into a powder - mixed with water - and then shipped in slurry form through a pipeline.






14. Their intent is to incorporate nonbusiness factors (e.g. - cost of living - crime rate - educational opportunities) into the decision of where to locate a plant or distribution facility.






15. 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.






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






17. Mixes attributes of public and contract warehousing; services are more differentiated than a public facility but less customized than in a contract facility.






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






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






20. 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






21. Absolute limits to the quantity of a product that can be imported into a country during a particular time period.






22. Products that customers view as being able to fill the same need or want as another product.






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






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






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






26. Established in the late 1980s to recognize U.S. organizations for their achievements in quality and performance.






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






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






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






30. Refers to waterborne transportation that utilizes inland and coastal waterways to move shipments from domestic ports to their destination.






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






32. The distance between the inner sides of two parallel rail tracks.






33. 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.






34. Refers to logistical activities associated with goods that move across national boundaries.






35. 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.






36. Measurement that ensures conformity with an organization's policies - procedures - or standards.






37. A long-term arrangement between a shipper and another party to provide logistics services.






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






39. Occurs in delivered pricing when a buyer pays an excessive freight charge calculated into the price of the goods.






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






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






42. A one-size-fits-all approach in which every customer gets the same type and levels of logistics service.






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






44. Similar to common carriers in that public warehousing serves all legitimate users and has certain responsibilities to this users.






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






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






47. Raw materials - component parts - and supplies brought from outside organizations to support a company's operations.






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






49. Taxes that governments place on the importation of certain items.






50. Refers o cargo stowed loose - without specific packing - and generally handled with a pump - scoop - or shovel.