Logistics Quiz Vocabulary

The process of finding and buying the materials or goods a company needs.

• Procurement

• Transportation

• Inventory

• Supply Chain

The stock of goods a company holds for sale or use.

• Demand Forecasting

• Supply Chain

• Inventory

• Lead Time

The movement of goods from one place to another.

• Warehousing

• Transportation

• Inventory

• Demand Forecasting

The time it takes to get a product from the supplier to the customer.

• Lead Time

• Shipment

• Container

• Freight

What is the name of the system of inventory management where a company only orders goods when they are needed?

• Just-in-Time (JIT)

• Stock Level

• Reorder Point

• Stock-Out

What is the process of managing the flow of goods from the manufacturer to the consumer?

• Supply Chain

• Lead Time

• Inventory

• Procurement

What is the term for predicting the demand for a product in the future?

• Stock-Out

• Just-in-Time (JIT)

• Demand Forecasting

• Reorder Point

What is the process of storing goods in a designated location?

• Transportation

• Warehousing

• Goods Movement

• Import

What is the system of inventory management where goods are ordered in large quantities to reduce costs?

• Just-in-Time (JIT)

• Economic Order Quantity (EOQ)

• Reorder Point

• Stock-Out

What is the process of determining the optimal amount of goods to order to meet demand?

• Inventory Optimization

• Demand Forecasting

• Lead Time

• Supply Chain