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Business Logistics

Business Logistics Exam 2

TermDefinition
The Bill of Lading The document that lists and details the contents and conditions of a shipment is called
cosignor is the seller, shipper, supplier
consignee is the buyer, receiver
Incoterms trade terms published by the International Chamber of Commerce (ICC) that are commonly used in both international and domestic trade contracts
domestic and international purchases INCOTERMS 2010 can be used for
FOB Origin If you want the consignee to be responsible for goods while they are intransit you should ship products
pickup allowance reflects a discount given to a customer when they provide transportation on a shipment that otherwise would involve delivery
Menu pricing is a technique to encourage customers to perform specific activities that are deemed desirable by the seller
Consolidation, sorting, seasonal storage, and reverse logistics The four economic benefits of warehousing are
Group small inbound shipments into one large outbound shipment One function of a distribution warehouse is consolidation, which means the facility is being used to
sorting Cross docking is a form of
Products are assigned a specific warehouse location Slotting” a warehouse mean
public warehouses A company which has limited experience in warehousing who has a need to establish temporary warehouse facilities in multiple cities would most likely use:
Placing inventory in a local warehouse in anticipation of future need When a firm "spot stocks" inventory they are engaged in
that products are being assembled in custom assortments to meet the needs of specific orders. The warehouse functionality of sorting means
lead suppliers Assembly is a primary service expected to be performed by
reverse logistics Recycling is a major part of
that multiple orders are being picked simultaneously Wave selection means
Typically moved directly from receiving to shipping When a company cross-docks products, the products are
cube Theoretically, the ideal package for logistics and transportation purposes is a perfect
is not flexible A disadvantage of AS/RS is that it
Simplify product variations Firms are globalizing their operations today for all of the following reasons except
Increased revenue The primary benefits of low product complexity include all of the following except
Greater ease of managing outsourced logistics services The major benefit firms associate with integrated logistics services providers is
the process for identifying , analyzing and responding to risks Is risk management essentially:
A terrorist attack could cause a firm to loose its suppliers All of the following are the [PRIMARY]consequences of supply chain security failures except
Created by: normh80
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