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. Stocks of goods and materials that are maintained for many purposes.






2. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.






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






4. The orderly and planned observation of one or more segments in the logistics network or supply chain.






5. A one-size-fits-all approach in which every customer gets the same type and levels of logistics service.






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






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






8. 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.






9. Terms of sale for international transactions that represent - from the seller's viewpoint - the different locations - or stages - for quoting a price to an overseas buyer.






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






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






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






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






14. The shipper of goods.






15. Facilitators that make the channel function better.






16. 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.






17. Cargo on which taxes or duties have yet to be paid. The owner must post a bond or use a bonded carrier or warehouse to guarantee that the materials will not be sold until the taxes or duties are paid.






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






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






20. Inventory needed to satisfy demand during an order cycle.






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






22. Companies that specialize in providing various types of logistics services.






23. According to the Council of Supply Chain Management Professionals (CSCMP) - that part of supply chain management that plans - implements - and controls the efficient - effective forward and reverse flow and storage of goods - services - and rel






24. Cooperative - formal or informal supply chain relationships between manufacturing companies and their suppliers - business partners - or customers - developed to enhance the overall business performance of both sides.






25. Retailers that are characterized by large market share and low prices.






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






27. Truck trailers of flatcars.






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






29. Allow companies to produce digital maps that can drill down to site-specific qualities such as bridge heights.






30. Involves rearranging the quantities and assortment of products as they move through the supply chain.






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






32. Transportation service that is supplemental to line-haul transportation.






33. The use of speech to guide order-picking activities.






34. Money paid after an exchange.






35. Refers to communication without cables and cords - and includes infrared - microwave - and radio transmissions.






36. Goods that flow from the consumer to the manufacturer (e.g. - product recalls and product recycling).






37. A specific rate for every possible combination of product - weight - and distance.






38. Companies that specialize in transporting parcels or small packages.






39. Short- to medium-term horizon - Six-month to one-year (plus) time-span - Subsystem decisions are made - - should not impose on other logistics components - Annual budgets provide finance/cost basis - The strategic plan detail is made into an operatio






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






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






42. 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.






43. Having products available when they are needed by customers.






44. Each separate type of item that is accounted for in an inventory.






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






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






47. 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.






48. A technique that seeks to better understand the cost of a product by identifying what activities drive particular costs.






49. Are similar to credit cards for personal use - only p-cards are used for organizational purchases.






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