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






2. 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






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






4. The short-distance movement of material between two or more points.






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






6. 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.






7. Stocks of goods and materials that are maintained for many purposes.






8. A framework that identifies eight relevant processes - such as customer relationship management - demand management - and order fulfillment - associated with supply chain management.






9. A cartel consisting of nearly all the world's scheduled international airlines.






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






11. Retailers that are characterized by large market share and low prices.






12. Satisfying current and emerging customer needs.






13. 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.






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






15. The documents associated with transportation shipments.






16. A major port where thousands of containers arrive and depart per week. These ports specialize in the efficient handling of containers.






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






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






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






20. The buying and controlling of transportation services by either a shipper or consignee.






21. A relational exchange approach involving a limited number of suppliers.






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






23. That part of a firm's logistics system that stores products at and between points of origin and point of consumption.






24. 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.






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






26. A buyer invites bids from multiple sellers - and the seller with the lowest bid is often awarded the business.






27. 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.






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






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






30. Pricing that includes both the price of the product and the transportation cost of the product to the purchaser's receiving dock.






31. The seller pays the freight charges and also owns the goods in transit. The is what is generally referred to as FOB destination pricing.






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






33. Refers to the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers.






34. Seeks to minimize inventory by reducing (if not eliminating) safety stock - as well as having the required amount of materials arrive at the production location at the exact time they are needed.






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






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






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






38. An alternative name for airfreight containers.






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






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






41. Terminal-to-terminal movement of freight or passengers.






42. Often accompanies an SED and provides explicit shipment instructions.


43. Products are produced prior to receiving a customer order.






44. Conformance to mutually agreed upon requirements.






45. Cartels of all ocean vessel operators operating between certain trade areas.






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






47. The amount of output divided by the amount of input.






48. Using a container that can be transferred from the vehicle of one mode to a vehicle of another - and with the movement covered under a single bill of lading.






49. A return trip or movement in a direction of secondary importance or purpose.






50. Damage that is not initially apparent but is discovered after a package is opened.