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






2. The number of times an inventory is used or replaced each year.






3. These help various stake-holders to work together by interacting and sharing information in many different forms.






4. The number of tons times the number of miles.






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






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






7. 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.






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






9. Assemble small shipments into a single - larger shipment.






10. Retail industry initiative where trading partners share planning and forecasting data to better match supply and demand.






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






12. Materials requested by a customer that are unavailable for shipment at the same time as the reminder of the order. They are usually shipped when available.






13. People - equipment - and procedures to gather - sort - analyze - evaluate - and distribute needed - timely - and accurate information to logistics decision makers.






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






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






16. Aka bulk-making






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






18. 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.






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






20. Price of the product at its source plus transportation costs to its destination.






21. Having products available when they are needed by customers.






22. Companies that specialize in transporting parcels or small packages.






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






24. Their intent is to incorporate nonbusiness factors (e.g. - cost of living - crime rate - educational opportunities) into the decision of where to locate a plant or distribution facility.






25. Being out of an item at the same time there is a willing buyer for it.






26. Changes to one logistics activity cause some costs to increase and others to decrease.






27. An international logistics specialist that custom packs shipments when the exporter lacks the equipment or expertise to do so itself.






28. Refers to employees who do not follow company guidelines about which suppliers to use in particular situations.






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






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






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






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






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






34. The science that seeks to adapt work or working conditions to suit the abilities of the worker.






35. Organizations that exploit workers and that do not comply with fiscal and legal obligations toward employees.






36. State laws that specify that a worker does not have to join the union to work permanently at a facility.






37. Numbers assigned to various types of freight - based mainly on the carrier's costs of handling that type of product - and - along with weight and distance - used as a basis for determining the costs of shipment.






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






39. Refers to the amount of product entering and leaving a facility in a given time period.






40. Money paid before an exchange.






41. Goods moving between two points - often accompanied by a live bill of lading.






42. The pick location is brought to the picker (e.g. - carousels).






43. Requires a certain percentage of traffic to move on a nation's flag vessels.






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






45. 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.






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






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






48. Cargo reaches a vehicle's or a container's weight capacity without filling its cubic capacity.






49. A one-size-fits-all approach in which every customer gets the same type and levels of logistics service.






50. 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.