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






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






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






4. A framework that identifies eight relevant processes - such as customer relationship management - demand management - and order fulfillment - associated with supply chain management.






5. Terminal-to-terminal movement of freight or passengers.






6. Refers to security throughout the entire supply chain.






7. 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






8. aka bulk-breaking






9. The time from when a transportation carrier picks up the shipment until it is received by the customer.






10. The documents associated with transportation shipments.






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






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






13. These are materials that are no longer serviceable - have been discarded - or are a by-product of the production process.






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






15. Helps managers make decisions by providing information - models - or analysis tools.






16. 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






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






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






19. 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.






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






21. The seller pays the freight charges and also owns the goods in transit. The is what is generally referred to as FOB destination pricing.






22. 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.






23. An approach for locating a single facility that minimizes the distance to existing facilities.






24. A major port where thousands of containers arrive and depart per week. These ports specialize in the efficient handling of containers.






25. A payment from a shipper or consignee to a truck carrier for having kept the carrier's equipment too long.






26. 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.






27. Materials used for the containment - protection - handling - delivery - and presentation of goods.






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






29. The receiver of a shipment.






30. Separating products into grades and qualities desired by different target markets.






31. Retail industry initiative where trading partners share planning and forecasting data to better match supply and demand.






32. 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






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






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






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






36. Changes to one logistics activity cause some costs to increase and others to decrease.






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






38. Emphasizes a speed or time component.






39. Refers to forecasting that involves judgment or intuition and is preferred in situations where there is limited - or no - historical data.






40. A company that helps both shipper and carrier achieve lower freight rates and more efficient utilization of carrier equipment. Brokers also help match carriers to loads.






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






42. Raw materials - component parts - and supplies brought from outside organizations to support a company's operations.






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






44. An organization maintains a single logistics department that administers the related activities for the entire company from the home office.






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






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






47. Provides guidance in terms of a preferred list of carriers for shipments moving between two points.






48. A relational exchange approach involving a limited number of suppliers.






49. That part of a firm's logistics system that stores products at and between points of origin and point of consumption.






50. 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.







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