Basic Concepts
What is logistics?
The management of the flow of goods and services from the point of origin to the point of consumption.
What transportation mode is primarily used for fast deliveries over long distances?
Air transport.
What is a warehouse?
A place where goods and materials are stored before distribution.
What is a supply chain?
The system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
What is an ERP system?
Enterprise Resource Planning system, which integrates all business processes into one system.
What is inventory?
The quantity of goods and materials a company has in storage.
What is freight?
The cost of transporting goods.
What is picking in a warehouse?
The process of collecting and preparing products for shipment.
What is supply chain management?
The coordination and management of all activities involved in sourcing, production, and delivery of products.
What is a WMS?
A Warehouse Management System.
What does "just in time" (JIT) mean?
A production system that reduces inventory time and delivers materials just when they are needed in production.
What type of transportation is commonly used for large volumes of goods across oceans?
Maritime transport.
What is a cross-docking warehouse?
A facility where products are unloaded from an inbound conveyance and loaded directly onto an outbound conveyance, with little or no intermediate handling.
What is a customer in the supply chain?
The person or company that receives the final products or services.
What is RFID?
Radio frequency identification, a technology used to track and manage inventories.
What is a supplier?
A person or company that supplies products or services to another entity.
What is the main advantage of rail transport?
It is efficient for moving large quantities of goods over long land distances.
What does FIFO mean in inventory management?
First In, First Out; The first products in are the first out.
What is a link in the supply chain?
Each of the parts or stages that make up the supply chain.
What is a TMS?
A transportation management system.
What is reverse logistics?
The management of the return of products from the final consumer to the producer for reuse or proper disposal.
What is the “last mile” in transportation logistics?
The final stage of the process of delivering a product from the distribution center to the final consumer.
What is inventory management? | What is “supply chain management” (SCM)?
The process of supervising and controlling the ordering, storage, and use of components that a company uses in the production of the products it sells.
What is “supply chain management” (SCM)?
The comprehensive management of all activities necessary to plan, control and execute the flow of a product from raw materials to the end customer.
How is Big Data used in logistics?
To analyze large volumes of data and optimize routes, manage inventories and predict future demands.