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55 True/False questions

  1. Reverse AuctionBridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer

          

  2. Marketing ChannelsA set of institutions necessary to transfer the title to goods and to move goods from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process

          

  3. Enterprise resource planning (ERP) systemCreates and maintains consistent data processing methods and an integrated database across multiple business functions

          

  4. Transaction processing system (TPS)Collects and stores information about transactions; controls some aspects of transactions

          

  5. Logistics optimization modelsPeople, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers

          

  6. Big-box RetailerThe collection of large amounts of near real-time data collected through a variety of sources, such as sensors, smart phones, RF tags and business-to-business data exchanges

          

  7. Landed costsPrice of a product at its source plus transportation costs to its destination

          

  8. PostponementThe delay of value-added incentives such as assembly, production, and packaging to the latest possible time

          

  9. ContainerA uniform sealed reusable metal "box" in which goods are shipped

          

  10. Time utilityHaving products available when they are needed by customers

          

  11. Radio-frequency identification (RFID)The use of radio frequency to identify objects that have been implanted with an RFID tag.

          

  12. Sorting functionBridges the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the customer

          

  13. Total Cost ApproachA 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.

          

  14. SimulationA technique that models a real-world system, typically using mathematical equations to represent the relationships among components of the real-world system

          

  15. Cloud ComputingUtilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

          

  16. Tailored logisticsThe process and systems involved in mobilizing people, resources, skills, and knowledge to help people who have been affected by either a natural or human-made disaster

          

  17. Possession utilityRefers to the value or usefulness that comes from a customer being able to take possession of a product

          

  18. On-demand software (Software-as-a-service)Refers to software that users access on a per-use basis instead of software they own or license for installation

          

  19. Enterprise systemLogistics modules of enterprise resource planning systems

          

  20. Systems approachA 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.

          

  21. Wireless communicationRefers to communication without cables and cords, and includes infrared, microwave, and radio transmissions

          

  22. StockoutsThe collection of large amounts of near real-time data collected through a variety of sources, such as sensors, smart phones, RF tags and business-to-business data exchanges

          

  23. Logistics1. Logistics is that part of the supply chain
    2. Process that plans, implements, and controls the efficient
    3. Effective forward and reverse flow and storage
    4. Of goods, services, and related information
    5. Between the point of origin and the point of consumption
    6. In order to meet customers' requirements

          

  24. Big dataA technique that models a real-world system, typically using mathematical equations to represent the relationships among components of the real-world system

          

  25. Economic utilityRefers to a product's being in a form that can be used by the customer and is of value of the customer

          

  26. Co-BrandingRefers to an alliance that allows customers to purchase products from two or more name-brand retailers at one store location

          

  27. Data miningUtilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

          

  28. Warehouse Management System (WMS)A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.

          

  29. Transaction processing system (TPS) examplesEDI; Point-of-sale systems, bar codes

          

  30. Physical DistributionStorage of finished product and movement to the customers

          

  31. InformationA body of facts in a format suitable for decision making

          

  32. Cost Trade-offsChanges to one logistics activity cause some costs to increase and others to decrease

          

  33. Decision support system (DSS)Simulation, data mining

          

  34. Communication system examplesHelps people work together by interacting and sharing information in many different forms

          

  35. Communication systemVirtual meetings via computer technology

          

  36. Materials ManagementUtilizes sophisticated quantitative techniques to find hidden patterns in large volumes of data

          

  37. Electronic Data Interchange (EDI)Uses the internet to make it easier, faster, and less expensive for an organization to purchase goods and services

          

  38. MIS and EIS examplesLogistics information system (LIS)

          

  39. Sustainable ProductsA 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.

          

  40. Enterprise system examplesVirtual meetings via computer technology

          

  41. Logistics Information System (LIS)People, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to logistics decision makers

          

  42. Form utilityRefers to a product's being in a form that can be used by the customer and is of value of the customer

          

  43. Management information system (MIS) and Executive information system (EIS)Converts TPS data into information for monitoring performance and managing an organization; provides executives information in a readily accessible format

          

  44. Place utilityHaving products available when they are needed by customers

          

  45. Electronic Procurement (e-procurement)Computer-to-computer transmission of business data in a structured format

          

  46. Decision support system (DSS) examplesSimulation, data mining

          

  47. Transportation Management System (TMS)A software package that automates the process of building orders, tending loads, and tracking shipments, audits, and payments.

          

  48. Data WarehouseA central repository for all relevant data collected by an organization

          

  49. Application Specific softwareHelps people work together by interacting and sharing information in many different forms

          

  50. DisintermediationThe removal of levels (Layers) from a channel of distribution

          

  51. Office automation systemSpreadsheet applications to calculate optimal order quantities

          

  52. Humanitarian logisticsThe process and systems involved in mobilizing people, resources, skills, and knowledge to help people who have been affected by either a natural or human-made disaster

          

  53. Global positioning systems (GPS)Use satellites that allow companies to compute vehicle positions, velocity, and time

          

  54. Stock-keeping units (SKUs)Being out of an item at the same time there is a willing buyer for it

          

  55. Office automation system examplesProvides effective ways to process personal and organizational business data, to perform calculations, and to create documents