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






2. Specifies the country(ies) in which a product is manufactured.






3. A company discontinues operations at a current site because the operations are no longer needed or can be absorbed by other facilities.






4. Manufacturing plants that exist just south of the U.S.-Mexican border.






5. The degree to which an organization can accommodate unique or unplanned customer requests.






6. Money paid after an exchange.






7. A strategic orientation in which traditional logistics activities are managed as a value-added system.






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






9. Prohibition of trade between particular countries.






10. 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.






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






12. Facilitators that make the channel function better.






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






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






15. Piggyback traffic - or loading truck trailers onto rail flatcars.






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






17. Depicts the demand for - and replenishment of - inventory.






18. Bringing together inventory from different sources.






19. A cartel consisting of nearly all the world's scheduled international airlines.






20. A body of facts in a format suitable for decision making.






21. Satisfying current and emerging customer needs.






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






23. Created by the U.S. Department of Housing and Urban Development to encourage business development-through various tax credits-in economically depressed portions of cities.






24. Refers to a combination of water transportation and surface transportation between an origin and destination port.






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






26. The shipper of goods.






27. Using measures of another organization's performance to judge one's own performance.






28. A small device that responds to radio signals from an outside source.






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






30. The seller pays the freight charges in advance but bills the buyer for them. The buyer owns the goods in transit.






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






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






33. 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.






34. 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






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






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






37. An individual or firm in the business of carrying cargo or passengers.






38. Money paid before an exchange.






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






40. The need to rapidly move a shipment to its final destination.






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






42. A strategic orientation where a diverse group of logistics activities - together with other activities - are managed as a channel system.






43. A company's objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm - such as marketing - production - finance - and logistics.






44. 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.






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






46. In international trade - a firm that provides carrier services to shippers but owns no vessels itself.






47. A document that notifies a transportation carrier of wrong or defective deliveries - delay - or other delivery shortcoming.






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






49. The cost of giving up an alternative opportunity.






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







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