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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 receiver of a shipment.






2. The amount of output divided by the amount of input.






3. 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.






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






5. A framework that identifies five key processes - plan - source - make - deliver - return - associated with supply chain management.






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






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






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






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






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






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






12. U.S. federal government body with primary responsibility for transportation safety regulation.






13. 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.






14. A product that loses weight during the production process; the processing point as near to its origin as possible.






15. Refers to security throughout the entire supply chain.






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






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






18. 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.






19. A small device that responds to radio signals from an outside source.






20. Packaging tapered articles inside each other to reduce the cubic volume of the entire shipment.






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






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






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






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






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






26. An approach for locating a single facility that minimizes the distance to existing facilities.






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






28. Analysis that is performed by a trade association - professional organization - or other entity - on a industry wide basis.






29. Product for which there is no demand.






30. The buying and controlling of transportation services by either a shipper or consignee.






31. A degree of aggressive procurement involvement not normally encountered in supplier selection.






32. A system that simplifies each of the three primary rate factors - product - weight - and distance.






33. A charge assessed by rail carriers to users that fail to unload and return vehicles or containers promptly.






34. Economic activity that can be conducted via electronic connections such as EDI and the internet.






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






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






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






38. The short-distance movement of material between two or more points.






39. Boxes or other containers secured to a pallet or slip sheet.






40. Concept that suggests that all relevant activities in moving and storing products should be considered as a whole (i.e. - their total cost) - not individually.






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






42. A location technique utilizing a map or grid - with specific locations marked on the north-south and east-west axes. Its purpose is to find a location that minimizes transportation costs.






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






44. 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.






45. A warehousing facility that is owned or occupied on a long-term lease by the firm using it.






46. The seller pays the freight charges and also owns the goods in transit. The is what is generally referred to as FOB destination pricing.






47. Taking and removing personal property with the intent to deprive the rightful owner of it.






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






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






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