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. 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.






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






3. An individual or firm in the business of carrying cargo or passengers.






4. A facility temporarily established at the site of inventory; the warehouser assumes custody of the inventory and issues a receipt for it - which can then be used as collateral for a loan.






5. Provides specialized service to each customer based on a contractual arrangement.






6. aka bulk-breaking






7. A measure of how heavy a product is in relation to its size.






8. The time from when a transportation carrier picks up the shipment until it is received by the customer.






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






10. Materials that lose no weight in processing.






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






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






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






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






15. Refers to ships that register in nations that have lax maritime registration rules - particularly with respect to safety requirements.






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

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17. 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.






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






19. Software packages that control the movement and storage of materials within a warehousing facility.






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






21. The time span within which a scheduled delivery must be made.






22. 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.






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






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






25. Emphasize the storage of products and their primary purpose is to maximize usage of available storage space.






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






27. Strategic - Tactical - Operational






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






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






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






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






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






33. 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.






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






35. Movement and storage of raw materials - parts - and components within a firm.






36. A group of forecasting techniques that is based on the idea that future demand is solely dependent on past demand.






37. Breaking larger quantities into smaller quantities.






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






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






40. Transportation service that is supplemental to line-haul transportation.






41. Concept that suggests that all relevant activities in moving and storing products should be considered as a whole (i.e. - their total cost) - not individually.






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






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






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






45. Facilitators that make the channel function better.






46. U.S. federal government body with primary responsibility for transportation safety regulation.






47. Each product is assigned a specific location in a warehouse and is always stored there.






48. The use of radio frequency to identify objects that have been implanted with an RFID tag.






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






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