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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. Inventory is replenished on a constant - set schedule and is always ordered at a specific time; the quantity ordered varies depending on forecasted sales before the next order date.






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






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






4. Provide effective ways to process personal and organizational business data - to perform calculations - and to create documents.






5. Looks at a single aspect of logistics - such as a time-and-motion study of individuals who handle incoming freight at a receiving dock.






6. Refers to waterborne transportation that utilizes inland and coastal waterways to move shipments from domestic ports to their destination.






7. 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.






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






9. System that attempts enterprisewide coordination of relevant business processes by allowing (conceptually - at least) all functional areas within a firm to access and analyze a common database.






10. The shipper of goods.






11. Breaking larger quantities into smaller quantities.






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






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






14. Money paid before an exchange.






15. The orders to be picked are identified by lights placed on shelves or racks.






16. An order size that minimizes the sum of carrying and ordering costs.






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






18. A uniform sealed reusable metal 'box' in which goods are shipped.






19. An area - usually near a port or an airport - where goods can be stored or processed before entering through the importing nation's customs inspections.






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






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. Refers to software that has been developed for managers to deal with specifics logistics functions or activities (e.g. transportation management systems)






23. Each product is assigned a specific location in a warehouse and is always stored there.






24. The elapsed time from when an order is picked up by a transportation carrier until it is received by the customer.






25. 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






26. Products that customers view as being able to fill the same need or want as another product.






27. The receiver of a shipment.






28. An order that simultaneously achieves relevant customer metrics.






29. The shipment size that equates transportation charges for different rates and weight groups.






30. Inventories that are used or distributed together (e.g. razor blades and razors).






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






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






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






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






35. 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






36. A small platform (made of plastic - steel - or wood) on which goods are placed for handling by mechanical means.






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






38. 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.






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






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






41. A system that simplifies each of the three primary rate factors - product - weight - and distance.






42. Refers to corporate officers such as a chief executive officer (CEO) - chief operating officer (COO) - or chief financial officer (CFO).

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






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






45. Stock that exceeds the reasonable requirements of an organization.






46. Emphasizes a speed or time component.






47. Employee theft.






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






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






50. A warehousing facility that is owned or occupied on a long-term lease by the firm using it.