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 employees who do not follow company guidelines about which suppliers to use in particular situations.






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






3. 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.






4. Aka bulk-making






5. The movement and storage of materials into a firm.






6. Twenty-foot equivalent unit; a measure of the number of 20-foot containers that are used or handled.






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






8. A common credential that will be used to identify workers across all modes of transportation.






9. Employee theft.






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






11. The science that seeks to adapt work or working conditions to suit the abilities of the worker.






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






13. Occurs when the shipper notifies the carrier - prior to the shipment's arrival in the destination city - of a change in destination.






14. A buyer invites bids from multiple sellers - and the seller with the lowest bid is often awarded the business.






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






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






17. 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.






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






19. A return trip or movement in a direction of secondary importance or purpose.






20. Facts or recorded measures of certain phenomena.






21. An order size that minimizes the sum of carrying and ordering costs.






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






23. A small platform (made of plastic - steel - or wood) on which goods are placed for handling by mechanical means.






24. 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.






25. An order that simultaneously achieves relevant customer metrics.






26. Flatboard boat used to transport heavy products.






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






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






29. 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.






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






31. Global Supply Chain Forum






32. Breaking larger quantities into smaller quantities.






33. Requires a certain percentage of traffic to move on a nation's flag vessels.






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






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






36. 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






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






38. The number of tons times the number of miles.






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






40. 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






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






42. Refers to the value or usefulness that comes from a customer being able to take possession of a product.






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






44. A carrier or public facility where freight (or passengers) is shifted between vehicles or modes.






45. Multiple logistics activities are combined into - and managed as - a single department.






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






47. Specifies the country(ies) in which a product is manufactured.






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






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


50. Movement and storage of raw materials - parts - and components within a firm.