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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. Focuses on an organization's ability to respond to changes in demand with respect to volume and variety.






2. 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






3. A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm - such as marketing - production - finance - and logistics.






4. 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.






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






6. 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






7. Refers to ships that register in nations that have lax maritime registration rules - particularly with respect to safety requirements.






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






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






10. For-hire carriers that have been exempted from economic regulation through provisions in various pieces of legislation.






11. An individual or firm in the business of carrying cargo or passengers.






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






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






14. 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.






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






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






17. The time from when the customer places or sends the order to when the seller receives it.






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






19. An order that simultaneously achieves relevant customer metrics.






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






21. A process where product is received in a facility - occasionally married with product going to the same destination - then shipped at the earliest opportunity - without going into long-term storage.






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






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






24. Materials that lose no weight in processing.






25. Emphasizes a speed or time component.






26. All activities associated with the flow and transformation of goods from the raw material stage - through to the end user - as well as the associated information flows.






27. Unused available space.






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






29. Nonprofit membership cooperatives that perform basically the same function as freight forwarders.

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






31. Refers to a situation in which a hazard or defect is discovered in a manufactured or processed item - and its return is mandated by a government agency.






32. 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.






33. Compares actual experience to the expected experience and if the actual experience equals or exceeds the expected experience - then the customer is satisfied.






34. The seller pays the freight charges - but the buyer owns the goods in transit.






35. Procurement activities that meet the ethical and discretionary responsibilities expected by society.






36. Storage of finished product and movement to the customers.






37. Price of the product at seller's place of business. Buyer must arrange for transportation of the product from the seller's place of business.






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






39. Groups of customers with similar logistical needs and wants are provided with logistics service appropriate to those needs and wants.






40. An international logistics specialist that custom packs shipments when the exporter lacks the equipment or expertise to do so itself.






41. An order picker goes to where the product is located (e.g. - a forklift).






42. Plastic wrapping that when heated shrinks in size to form a cover over the product.






43. A product that gains weight in processing; the processing point should be close to the market.






44. Facts or recorded measures of certain phenomena.






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






46. The delay of value-added activities such as assembly - production - and packaging to the latest possible time.






47. Flatboard boat used to transport heavy products.






48. Global Supply Chain Forum






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






50. 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.







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