Logistics & Transportation
Which technology allows real-time tracking of shipments using satellites?
GPS - Global Positioning System
What is the term for sourcing materials or products from multiple suppliers to reduce risk?
Dual sourcing
What does SKU stand for in inventory management?
Stock Keeping Unit
Which automaker is credited with developing Just-in-Time (JIT) manufacturing?
Toyota
What is the term for using AI to predict demand and optimize supply chain decisions?
Predictive analytics
What is the name of the global shipping crisis caused by a blockage in the Suez Canal in 2021?
Ever Given incident
Which procurement strategy involves long-term partnerships with suppliers for strategic items?
Supplier Relationship Management - SRM
Which warehouse picking method involves picking multiple orders at once to improve efficiency?
Batch picking
Which retail giant is known for revolutionizing inventory management through cross-docking?
Walmart
What is the name of the supply chain concept where companies use robots to move and store goods in warehouses?
Automated Storage and Retrieval Systems - ASRS
Which INCOTERM places the highest responsibility on the seller for delivering goods?
DDP – Delivered Duty Paid
What does ‘Total Cost of Ownership’ (TCO) include beyond just purchase price?
Maintenance, logistics, operating costs, disposal, etc.
What is the term for stock that has been sitting too long and is unlikely to sell?
Dead Stock
Which company pioneered barcode scanning for inventory tracking in 1974?
IBM with the first UPC scan at a supermarket
What does IoT stand for, and how is it used in supply chain management?
Internet of Things – for smart tracking, monitoring inventory, and predictive maintenance
Which organization regulates international air transport?
International Air Transport Association – IATA
What is the term for unethical supplier practices where prices are raised unfairly due to demand spikes?
Price gouging
What does TEU stand for in container shipping?
Twenty-foot Equivalent Unit
Which country is the largest exporter of electronics worldwide?
China