Session 10

Question 1

Bill of lading

Answer 1

A document that contain all of the key information in relation to a consignment being transported

Question 2

Consolidated shipment

Answer 2

Where smaller shipments form various consignees are grouped into one single, full load

Question 3

Factory gate pricing

Answer 3

The use of an ex-works price for a product plus the organistion and optimization of transport by the purchaser to the point of delivery

Question 4

Freight tonne kilometer (FTK)

Answer 4

Volume of freight measured in tonnes multiplied by the distance the freight travels measured in kilometers

Question 5

Generalised costs

Answer 5

A single usually monetary measure combining most of the important disparate costs which form the overall opportunity cost of a trip

Question 6

Incoterms

Answer 6

Abrreviation for interntioanl comercial terms that are commonly accepted standard in global trade

Question 7

Intermodal transport

Answer 7

Where freight moves within a loading unit (ITU). It may move in many different transport modes but the freight will stay in the unit at all times

Question 8

Non-vessel-owning common carrier (NVOCC)

Answer 8

Refers to companies who consolidate smaller shipments from various consignees into full container loads which the NVOCC then takes responsibility for

Question 9

Own account transportation

Answer 9

Where a company does not use a LSP to transport freight but does using its own vehicles

Question 10

3PLs

Answer 10

LSPs that provide multiple logistics services, often in an integrated fashion