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Logistics Vocab

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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 warehousing situations where goods are not released until applicable fees are paid. As an example - Internal Revenue Service - bonded warehouses hold goods other federal taxes and fees collected.






2. A strategic orientation where a diverse group of logistics activities - together with other activities - are managed as a channel system.






3. Refers to security throughout the entire supply chain.






4. 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.






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






6. State laws that specify that a worker does not have to join the union to work permanently at a facility.






7. Conformance to mutually agreed upon requirements.






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






9. Building up a variety of different products for resale to a particular customer.






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






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






12. Aka bulk-making






13. The orders to be picked are identified by lights placed on shelves or racks.






14. Day-to-day decision making - Operations controlled against standards and rules - Control via weekly/monthly reports - The implementation of the operational plan






15. Provides specialized service to each customer based on a contractual arrangement.






16. Refers to corporate officers such as a chief executive officer (CEO) - chief operating officer (COO) - or chief financial officer (CFO).

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






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






19. A program in which public and private organizations work together to prevent terrorism against the United States through imports and transportation.






20. Refers to the number of transportation modes available to prospective users.






21. Facts or recorded measures of certain phenomena.






22. Flatboard boat used to transport heavy products.






23. Inventory that is held in addition to cycle stock to guard against uncertainties in supply and/or lead time.






24. An agreement in which the world's ports agree to allow U.S. customs agents to identify and inspect high-risk containers bound for the United States before they are loaded onto ships.






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






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






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






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






29. A flat sheet of either fiberboard material or plastic that is placed under the unit load.






30. Damage that is not initially apparent but is discovered after a package is opened.






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






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






33. A U.S. federal agency that regulates workplaces to ensure the safety of workers.






34. Stock that exceeds the reasonable requirements of an organization.






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






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






37. Facilitators that make the channel function better.






38. 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.






39. Similar to diversion - but it occurs after the shipment has arrived in the destination city.






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






41. Companies whose primary business is other than transportation provide their own transportation service by operating truck - railcars - barges - ships - or airplanes.






42. Firm the helps a domestic company become involved in foreign sales. They often locate foreign firms that can be licensed to manufacture the product in the foreign country.






43. 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.






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






45. Refer to the manner by which a seller will be paid by a buyer for an international transaction.






46. 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






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






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






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






50. Employee theft.







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