Logistics Vocab
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Logistics Vocab
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25 Questions

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

2. All activities associated with the flow and transformation of goods from the raw material stage - through to the end user - as well as the associated information flows.

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

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

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

6. Breaking larger quantities into smaller quantities.

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

8. A warehouse with an emphasis on quick throughput - such as is needed in supporting marketing efforts.

9. Cooperative - formal or informal supply chain relationships between manufacturing companies and their suppliers - business partners - or customers - developed to enhance the overall business performance of both sides.

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

11. The documents associated with transportation shipments.

12. Inventory is replenished on a constant - set schedule and is always ordered at a specific time; the quantity ordered varies depending on forecasted sales before the next order date.

13. Truck trailers of flatcars.

14. Prohibition of trade between particular countries.

15. Facts or recorded measures of certain phenomena.

16. Positive - long-term relationships between supply chain participants.

17. Consolidates freight shipments and buys transportation services in volume rates.

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

19. Employees who are sent to other countries for extended periods of time.

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

21. A strategic orientation in which traditional logistics activities are managed as a value-added system.

22. The receiver of a shipment.

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

24. Bill of Lading

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

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