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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. Uses the internet to make it easier - faster - and less expensive for an organization to purchase goods and services.






2. Employees who are sent to other countries for extended periods of time.






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






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






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






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






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






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






9. An intermediary that oversees the efficient movement of importers' goods (and accompanying paperwork) through customs and other inspection points.






10. Logistics-related decisions are made separately at the divisional or product group level and often in different geographic regions.






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






12. Key suppliers locate on - or adjacent to - automobile plants - which helps reduce shipping costs and inventory carrying costs.






13. The time from when the seller receives an order until an appropriate location is authorized to fill the order.






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






15. Mixes attributes of public and contract warehousing; services are more differentiated than a public facility but less customized than in a contract facility.






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






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






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






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






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






21. 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






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






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






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






25. Day-to-day decision making - Operations controlled against standards and rules - Control via weekly/monthly reports - The implementation of the operational plan






26. Includes all activities from when an appropriate location is authorized to fill an order until goods are loaded aboard an outbound carrier.






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






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






29. A facility temporarily established at the site of inventory; the warehouser assumes custody of the inventory and issues a receipt for it - which can then be used as collateral for a loan.






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






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






32. Product for which there is no demand.






33. Inventory that is in route between various nodes in a logistics system.






34. Satisfying current and emerging customer needs.






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






36. The cost of giving up an alternative opportunity.






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






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






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






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






41. 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.






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






43. A document used in cross-border trade that summarizes the entire transaction and contains key information such as a description of the goods - terms of sale and payments - and so on.






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






45. Aka bulk-making






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






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






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






49. 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.






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







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