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






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






3. The most important single transportation document that is the operating document in the industry.






4. A long-term arrangement between a shipper and another party to provide logistics services.






5. Locations that contain chemicals or other types of industrial wastes.






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






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






8. An inventory system that responds to actual (rather than forecasted) customer demand.






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






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






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






12. A U.S. federal agency that regulates workplaces to ensure the safety of workers.






13. An international payment option that is issued by a bank and guarantees payment to a seller provided that the seller has complied with the applicable terms and conditions of the particular transaction.






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






15. The time from when the customer places or sends the order to when the seller receives it.






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






17. The level of inventory at which a replenishment order is placed.






18. Conformance to mutually agreed upon requirements.






19. Refers to choosing the locations for distribution centers - warehouses - and production facilities to facilitate logistical effectiveness and efficiency.






20. A carrier or public facility where freight (or passengers) is shifted between vehicles or modes.






21. Companies whose primary business is other than transportation provide their own transportation service by operating truck - railcars - barges - ships - or airplanes.






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






23. Twenty-foot equivalent unit; a measure of the number of 20-foot containers that are used or handled.






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






25. A strategic orientation in which a limited number of traditional logistics activities are managed across business units.






26. Simulation of the types of problems that the package will be exposed to in warehouses and in transit.






27. The creation across the supply chain and its markets of coordinated flow of demand. The three basic types of forecasting models are: 1-judgmental - 2-time series - 3-cause and effect.






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






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

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30. Money paid before an exchange.






31. Medium- to long-term horizon - One- to five-year (plus) time span - Overall 'structural' decisions - Trade-offs between company functions - Trade-offs with other organizations - Corporate financial plans and policies - Policy decisions developed into






32. Companies that specialize in providing various types of logistics services.






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






34. General contractor that ensures that third-party logistics companies are working toward relevant supply chain goals and objectives.






35. An approach for locating a single facility that minimizes the distance to existing facilities.






36. Facilitators that make the channel function better.






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






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






39. A transportation manager who purchases a prespecified level of transportation service and is indifferent to the mode(s) or carrier(s) used to provide the actual transportation service.






40. Refers to the number of transportation modes available to prospective users.






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






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






43. 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.






44. Cargo on which taxes or duties have yet to be paid. The owner must post a bond or use a bonded carrier or warehouse to guarantee that the materials will not be sold until the taxes or duties are paid.






45. The receiver of a shipment.






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






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






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






49. 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.






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