Logistics Vocab
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Logistics Vocab
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25 Questions

1. The shipper of goods.

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

3. Gross domestic product

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

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

6. Looks at the entire logistics systems to see how well all of its components function together.

7. Global Supply Chain Forum

8. A company that helps both shipper and carrier achieve lower freight rates and more efficient utilization of carrier equipment. Brokers also help match carriers to loads.

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

10. Analyzing the impacts of small changes - such as adding or subtracting one unit of input.

11. A U.S. government agency with primary responsibility for regulating railroad pricing and service.

12. Refers to alphanumeric identification that specifies where a product was processed or manufactured.

13. A long-term arrangement between a shipper and another party to provide logistics services that is characterized by relational focus - a focus on mutual benefits - and the availability of customized offerings.

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

15. Facilitators that make the channel function better.

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

17. The delay of value-added activities such as assembly - production - and packaging to the latest possible time.

18. Helps managers make decisions by providing information - models - or analysis tools.

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

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

21. Employee theft.

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

23. Refers to warehousing situations where goods are not released until applicable fees are paid. As an example - Internal Revenue Service - bonded warehouses hold goods other federal taxes and fees collected.

24. The need to rapidly move a shipment to its final destination.

25. Breaking larger quantities into smaller quantities.