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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. Terms of sale for international transactions that represent - from the seller's viewpoint - the different locations - or stages - for quoting a price to an overseas buyer.






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






3. A set of generic standards used to document - implement - and demonstrate quality management and assurance systems.






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






5. 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.






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






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






8. The costs of holding an inventory - such as interest on investment - insurance - deterioration - and so on.






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






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






11. These are material that have been spoiled - broken - or otherwise rendered unfit for further use or reclamation.






12. Refer to materials that are not likely to ever be used by the organization that purchased it.






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






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






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






16. According to the Council of Supply Chain Management Professionals - SCM encompasses the planning and management of all activities involved in sourcing and procurement - conversion - and all logistics management activities. Importantly - it also i






17. An organization's ability to address unexpected operational situations.






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






19. Refers to software that users access on a per-use basis instead of software they own or license for installation.






20. Electronic devices that read bar codes and can be used to keep track inventory - reorder inventory - and analyze inventory patterns.






21. One location where customers can purchase products from two or more name-brand retailers.






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






23. The process of determining how a shipment will be moved between consignor and consignee or between place of acceptance by the carrier and place of delivery to the consignee.






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






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






26. Inventory that is held in addition to cycle stock to guard against uncertainties in supply and/or lead time.






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






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






29. Creating - maintaining - and enhancing strong relationships with customers and other stakeholders.






30. In transportation - a small quantity or small package.






31. Aka bulk-making






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






33. Refer to the manner by which a seller will be paid by a buyer for an international transaction.






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






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


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






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






38. The documents associated with transportation shipments.






39. The seller owns the goods in transit - prepays the freight charges - and bills the buyer for the freight charges.






40. 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.






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






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






43. Computer-to-computer transmission of business data in a structured format.






44. A practice that emphasizes the virtual elimination of business errors that strives to achieve 3.4 defects - deficiencies - or errors per one million opportunities.






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






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


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






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






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






50. Compares actual experience to the expected experience and if the actual experience equals or exceeds the expected experience - then the customer is satisfied.