
Exploring Global Logistics and Trade
Flashcard
•
Business
•
12th Grade
•
Hard
Dr. Naveen Kumar MS
FREE Resource
Student preview

18 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is the primary goal of supply chain management?
Back
To optimize the flow of goods, information, and finances in the supply chain.
2.
FLASHCARD QUESTION
Front
Which document is essential for customs clearance?
Back
Bill of Lading
3.
FLASHCARD QUESTION
Front
Name one major international trade agreement.
Back
North American Free Trade Agreement (NAFTA)
4.
FLASHCARD QUESTION
Front
What is logistics optimization?
Back
Logistics optimization is the process of enhancing logistics operations to improve efficiency and reduce costs.
5.
FLASHCARD QUESTION
Front
How does risk management apply to international trade?
Back
Risk management applies to international trade by identifying and mitigating risks associated with currency fluctuations, political instability, and compliance issues.
6.
FLASHCARD QUESTION
Front
What is the purpose of a bill of lading?
Back
The purpose of a bill of lading is to document the receipt of goods for shipment and outline the terms of transport.
7.
FLASHCARD QUESTION
Front
What are Incoterms and why are they important?
Back
Incoterms are important because they standardize trade terms, clarify responsibilities, and minimize misunderstandings in international shipping.
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