LOGISTICS MANAGEMENT 344 QUESTIONS AND ANSWERS A+
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Inventory
the goods or materials that a business holds for resale or production.
Supply chain
the sequence of processes involved in the production and distribution of a commodity.
Freight forwarding
arranging the transportation of goods by various modes of transport.
Transport modes
different methods of moving goods, including road, rail, sea, and air.
Warehouse
a facility where goods are stored before distribution.
Container types
various containers used for transport like flat-rack, open-top, etc.
3PL (third-party logistics)
outsourcing logistics operations to third-party providers.
Value-added services
services that add extra value to the logistics process, like packaging or labeling.
Continuous replenishment
the process of frequently restocking inventory.
Distribution center
a facility used for receiving, storing, and distributing goods.
Automated storage and retrieval system (AS/RS)
a technology used in warehouses to automatically place and retrieve items.
Air waybill (AWB)
a document that accompanies goods shipped by air.
Bill of lading (BIL)
a legal document between a shipper and carrier detailing the type, quantity, and
destination of the goods being carried.
Brussels Tariff Nomenclature (BTN)
a system for classifying goods in international trade.
Cash against documents (CAD)
a payment method where the seller ships the goods and the buyer pays upon receiving
the shipping documents.
Certificate of origin (CO)
a document certifying that goods are wholly obtained, produced, manufactured, or
processed in a particular country.
Just-in-time (JIT)
a logistics method where materials are only ordered and received when they are
needed.
Letter of credit (LC)
a letter issued by a bank guaranteeing that a buyer's payment to a seller will be
received on time and for the correct amount.
, Less than container load (LCL)
a shipment that does not fill a full container.
Full container load (FCL)
a shipment that fills a full container.
Harmonized System (HS)
an international system for classifying goods for trade.
Global positioning system (GPS)
a satellite-based navigation system used to track shipments.
Non-vessel operating common carrier (NVOCC)
a company that arranges ocean freight but does not own the vessels used.
Proof of delivery (POD)
a document signed by the receiver confirming receipt of goods.
Radio frequency identification (RFID)
a technology used to track goods using radio waves.
Resource management system (RMS)
software used to manage resources in logistics.
Roll-on/roll-off (RORO)
a method of shipping where vehicles roll on and off ships.
Warehouse management system (WMS)
software used to manage warehouse operations.
Vendor-managed inventory (VMI)
a supply chain practice where the supplier manages the inventory levels for the
customer.
Net weight
the weight of goods without any packaging.
Tare weight
the weight of packaging or containers without the goods inside.
Forwarding
the process of arranging the shipment of goods from one place to another.
Logistics provider
a company that offers logistics services such as transportation, warehousing, and
distribution.
Freight charges
the cost of shipping goods.
Cargo
goods that are transported, typically in bulk.
Shipment
a batch of goods being transported to a customer.
Loading
the process of placing goods onto a vehicle for transportation.
Unloading
the process of removing goods from a vehicle after transportation.
Cross-docking
a logistics practice where goods are unloaded from a vehicle and directly loaded onto
another, bypassing storage.
Reverse logistics
GRADED .Buy Quality Materials!
Inventory
the goods or materials that a business holds for resale or production.
Supply chain
the sequence of processes involved in the production and distribution of a commodity.
Freight forwarding
arranging the transportation of goods by various modes of transport.
Transport modes
different methods of moving goods, including road, rail, sea, and air.
Warehouse
a facility where goods are stored before distribution.
Container types
various containers used for transport like flat-rack, open-top, etc.
3PL (third-party logistics)
outsourcing logistics operations to third-party providers.
Value-added services
services that add extra value to the logistics process, like packaging or labeling.
Continuous replenishment
the process of frequently restocking inventory.
Distribution center
a facility used for receiving, storing, and distributing goods.
Automated storage and retrieval system (AS/RS)
a technology used in warehouses to automatically place and retrieve items.
Air waybill (AWB)
a document that accompanies goods shipped by air.
Bill of lading (BIL)
a legal document between a shipper and carrier detailing the type, quantity, and
destination of the goods being carried.
Brussels Tariff Nomenclature (BTN)
a system for classifying goods in international trade.
Cash against documents (CAD)
a payment method where the seller ships the goods and the buyer pays upon receiving
the shipping documents.
Certificate of origin (CO)
a document certifying that goods are wholly obtained, produced, manufactured, or
processed in a particular country.
Just-in-time (JIT)
a logistics method where materials are only ordered and received when they are
needed.
Letter of credit (LC)
a letter issued by a bank guaranteeing that a buyer's payment to a seller will be
received on time and for the correct amount.
, Less than container load (LCL)
a shipment that does not fill a full container.
Full container load (FCL)
a shipment that fills a full container.
Harmonized System (HS)
an international system for classifying goods for trade.
Global positioning system (GPS)
a satellite-based navigation system used to track shipments.
Non-vessel operating common carrier (NVOCC)
a company that arranges ocean freight but does not own the vessels used.
Proof of delivery (POD)
a document signed by the receiver confirming receipt of goods.
Radio frequency identification (RFID)
a technology used to track goods using radio waves.
Resource management system (RMS)
software used to manage resources in logistics.
Roll-on/roll-off (RORO)
a method of shipping where vehicles roll on and off ships.
Warehouse management system (WMS)
software used to manage warehouse operations.
Vendor-managed inventory (VMI)
a supply chain practice where the supplier manages the inventory levels for the
customer.
Net weight
the weight of goods without any packaging.
Tare weight
the weight of packaging or containers without the goods inside.
Forwarding
the process of arranging the shipment of goods from one place to another.
Logistics provider
a company that offers logistics services such as transportation, warehousing, and
distribution.
Freight charges
the cost of shipping goods.
Cargo
goods that are transported, typically in bulk.
Shipment
a batch of goods being transported to a customer.
Loading
the process of placing goods onto a vehicle for transportation.
Unloading
the process of removing goods from a vehicle after transportation.
Cross-docking
a logistics practice where goods are unloaded from a vehicle and directly loaded onto
another, bypassing storage.
Reverse logistics
