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






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






3. The most important single transportation document that is the operating document in the industry.






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






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






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






7. Facilitators that make the channel function better.






8. A process for returning a customer to a state of satisfaction after a service or product has failed to live up to expectations.






9. A product that loses weight during the production process; the processing point as near to its origin as possible.






10. The percentage of orders that can be completely and immediately filled from existing stock.






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






12. Classifying orders according to pre-established guidelines so that a company can prioritize how orders should be filled.






13. Products are produced after receiving a customer order.






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






15. Fixed facilities - such as a plant - warehouse - or store - in a logistics system.






16. The number of times an inventory is used or replaced each year.






17. Elapsed time between a customer places an order and when the goods are received.






18. 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.






19. A degree of aggressive procurement involvement not normally encountered in supplier selection.






20. Transportation carrier that has agreed to serve the general public and assumes four legal obligations: service - delivery - reasonable rates - and avoidance of discrimination.






21. Refers to an alliance in the container trades in which ocean carriers retain their individual identities but cooperate in the area of operations.






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






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






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






25. Using a container that can be transferred from the vehicle of one mode to a vehicle of another - and with the movement covered under a single bill of lading.






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






27. Damage that is not initially apparent but is discovered after a package is opened.






28. Seeks to minimize inventory by reducing (if not eliminating) safety stock - as well as having the required amount of materials arrive at the production location at the exact time they are needed.






29. U.S. federal government body with primary responsibility for transportation safety regulation.






30. 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.






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






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






33. The level of inventory at which a replenishment order is placed.






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






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






36. The buyer pays the freight charges when the goods arrive - and the seller owns the goods while they are in transit.






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






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






39. A flat sheet of either fiberboard material or plastic that is placed under the unit load.






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






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






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






43. 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.






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






45. 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.






46. Prohibition of trade between particular countries.






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






48. 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.






49. General contractor that ensures that third-party logistics companies are working toward relevant supply chain goals and objectives.






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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