Logistics and Supply Chains

Question 1

Logistics

Answer 1

the coordination and organization of complex operations in the most efficient way possible so as to optimize the entire production process

Question 2

Supply Chain Operations

Answer 2

management of the flow of goods and services

Question 3

Supply Chain

Answer 3

the sequence of activities (and the entities responsible for carrying them out) involved in getting goods and services from the primary producer to the end user

Question 4

Reverse Logistics

Answer 4

all operations involved in returning goods from the end consumer backwards down the supply chain

Question 5

Procurement Logistics

Answer 5

selecting suppliers and negotiating contracts for the delivery of raw materials, parts, sub-assemblies and finished goods

Question 6

Production Logistics

Answer 6

how production is organized and how goods will be produced

Question 7

Distribution logistics

Answer 7

how and when goods are delivered

Question 8

Disposal Logistics

Answer 8

the reuse of products and materials

Question 9

Manufacturer

Answer 9

a business that makes goods, usually by processing raw materials

Question 10

Wholesaler

Answer 10

a business that stores goods in bulk

Question 11

Retailer

Answer 11

a business outlet selling goods directly to the final consumer

Question 12

Consumer

Answer 12

the end user of a product

Question 13

Mode of Transport

Answer 13

the means by which goods are moved from point A to B

Question 14

Intermodal Transport

Answer 14

the delivery of cargo using two or more modes of transport

Question 15

Multimodal Transport

Answer 15

involves two or more modes of transport, but the exporter deals with a single carrier who is responsible for the whole journey

Question 16

Consignment

Answer 16

the amount of goods that are being transported

Question 17

Import Licence

Answer 17

a permit from a government body giving permission for goods to be imported into a country

Question 18

Bill of Lading

Answer 18

a document that needs to be signed by a carrier to form a receipt for the goods it will be carrying

Question 19

Consignor

Answer 19

business that is receiving the goods

Question 20

Consignee

Answer 20

business that is sending the goods

Question 21

Carrier

Answer 21

the business that actually transports the freight, such as a particular shipping line or airline

Question 22

Shipper

Answer 22

a person or business that specialises in shipping freight

Question 23

Airway Bill

Answer 23

the air- transport equivalent of a bill of lading

Question 24

Outsourcing

Answer 24

hiring a business outside a company to carry out services or produce goods on behalf of the company

Question 25

Distribution

Answer 25

all of the processes involved in getting materials, partly finished goods and finished goods to the end consumer, and then arranging for payment to travel in the opposite direction

Question 26

Logistics Hub

Answer 26

a location that acts as a centre for a range or activities relating to transport, logistics and goods distribution, both for national and international purposes

Question 27

Special Economic Zone (SEZ)

Answer 27

a designated area in which businesses and trade laws are different from the rest of the country
Aims to increase trade, investments and jobs