Test your basic knowledge |

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. Taxes that governments place on the importation of certain items.






2. Nonprofit membership cooperatives that perform basically the same function as freight forwarders.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


3. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.






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






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






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






7. Utilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data.






8. 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.






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






10. Breaking larger quantities into smaller quantities.






11. Refers o cargo stowed loose - without specific packing - and generally handled with a pump - scoop - or shovel.






12. 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.






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


14. Refers to the fact that more items are recorded entering than leaving warehouse facilities.






15. Each separate type of item that is accounted for in an inventory.






16. For-hire carriers that have been exempted from economic regulation through provisions in various pieces of legislation.






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






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






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






20. Involves rearranging the quantities and assortment of products as they move through the supply chain.






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






22. A product that gains weight in processing; the processing point should be close to the market.






23. 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.






24. An agreement in which the world's ports agree to allow U.S. customs agents to identify and inspect high-risk containers bound for the United States before they are loaded onto ships.






25. Analyzing the impacts of small changes - such as adding or subtracting one unit of input.






26. A charge assessed by rail carriers to users that fail to unload and return vehicles or containers promptly.






27. 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.






28. Refers to removing impediments to the flow of information and goods.






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






30. A system in which the size and timing of replenishment orders into a retailer's system are the manufacturer's responsibility.






31. The management of the various activities associated with the order cycle.






32. A framework that identifies five key processes - plan - source - make - deliver - return - associated with supply chain management.






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






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






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






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






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






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






39. Contains relevant export transaction data such as the transportation mode(s) - transaction participants - and description of what is being exported.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


40. Identifies opportunities to recover revenues or reduce costs associated with scrap - surplus - obsolete - and waste materials.






41. Taking and removing personal property with the intent to deprive the rightful owner of it.






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






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






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






45. Unused available space.






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






47. Inventory needed to satisfy demand during an order cycle.






48. Established in the late 1980s to recognize U.S. organizations for their achievements in quality and performance.






49. Buyer pays a lower freight charge than the shipper incurs in shipping the product.






50. Truck trailers of flatcars.