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






2. Changes to one logistics activity cause some costs to increase and others to decrease.






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






4. 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.






5. Inventory that is in route between various nodes in a logistics system.






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






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






8. An international trade specialist that can handle either vessel shipments or air shipments and that offers a number of different functions such as booking space on carriers - obtaining consular documents - and arranging for insurance - among other






9. 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.






10. 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.






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






12. Satisfying current and emerging customer needs.






13. Logistics activities are managed in multiple departments throughout an organizations.






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






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






16. A process for returning a customer to a state of satisfaction after a service or product has failed to live up to expectations.






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






18. Buyer pays a lower freight charge than the shipper incurs in shipping the product.






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






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






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






22. People - equipment - and procedures to gather - sort - analyze - evaluate - and distribute needed - timely - and accurate information to logistics decision makers.






23. 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.






24. 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






25. Unused available space.






26. An organization's ability to address unexpected operational situations.






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






28. Refers to security throughout the entire supply chain.






29. Each product is assigned a specific location in a warehouse and is always stored there.






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






31. Occurs when a cargo takes up a vehicle's or a container's cubic capacity before reaching its weight capacity.






32. 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






33. The removal of levels (layers) from a channel of distribution.






34. Similar to the center-of-gravity locational approach - except that shipping volumes are also taken into account.






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






36. In transportation - a small quantity or small package.






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






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






39. Global Supply Chain Forum






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






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






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






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






44. Products are produced prior to receiving a customer order.






45. Flatboard boat used to transport heavy products.






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






47. Locations that contain chemicals or other types of industrial wastes.






48. Materials requested by a customer that are unavailable for shipment at the same time as the reminder of the order. They are usually shipped when available.






49. An invoice submitted by a transportation carrier requesting to be paid.






50. Breaking larger quantities into smaller quantities.