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






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






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






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






5. Costs to seller when it is unable to supply an item to a customer ready to buy.






6. A type of contract logistics that focuses on providing unique and specially tailored warehousing services to particular clients.






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






8. Global Supply Chain Forum






9. Collects and stores information about transactions and may also control some aspects of transactions.






10. Facilitators that make the channel function better.






11. 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.






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






13. The creation across the supply chain and its markets of coordinated flow of demand. The three basic types of forecasting models are: 1-judgmental - 2-time series - 3-cause and effect.






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






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






16. Refers to the value or usefulness of a product in fulfilling customer needs and wants.






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






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






19. The use of radio frequency to identify objects that have been implanted with an RFID tag.






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






21. Restrictions other than tariffs that are placed on imported products.






22. Organizations that exploit workers and that do not comply with fiscal and legal obligations toward employees.






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






24. The cost of giving up an alternative opportunity.






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






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






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






28. Materials that lose no weight in processing.






29. 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.






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






31. These are material that have been spoiled - broken - or otherwise rendered unfit for further use or reclamation.






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






33. Their intent is to incorporate nonbusiness factors (e.g. - cost of living - crime rate - educational opportunities) into the decision of where to locate a plant or distribution facility.






34. Employee theft.






35. Combining smaller packages into larger unites that can be more efficiently handled at one time.






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






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






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






39. 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






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






41. Truck trailers on flatcars - also referred to as TOFC.






42. Refers to the amount of product entering and leaving a facility in a given time period.






43. Factors in the system that cannot be changed for various reasons.






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






45. A measure of how heavy a product is in relation to its size.






46. Breaking larger quantities into smaller quantities.






47. A firm must move operations to another facility to better serve suppliers or customers.






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






49. Material that is used to block and brace products inside carrier equipment to prevent the shipment from shifting in transit and becoming damaged.






50. Refers to waterborne transportation that utilizes inland and coastal waterways to move shipments from domestic ports to their destination.






Can you answer 50 questions in 15 minutes?



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