Supply Chain Management
What is the process of moving goods from the supplier to the customer?
Answer: Distribution
What is the term for the practice of maintaining the optimal amount of stock to meet customer demand?
Answer: Inventory Control
What is the term for the movement of goods from one place to another?
Answer: Transportation
What is the term for the storage of goods in a warehouse?
Answer: Warehousing
What is the term for a strategic approach to planning and managing all activities involved in sourcing, procurement, conversion, and logistics management?
Answer: Supply Chain Management
What is the process of monitoring and managing the storage, order, and use of inventory?
Answer: Inventory Management
What type of transportation involves the use of multiple modes of transport, such as rail, ship, and truck?
Answer: Intermodal Transportation
What is the term for a large building where raw materials or manufactured goods are stored before their distribution for sale?
Answer: Warehouse
What is the process of evaluating and selecting suppliers to acquire the necessary materials or services?
Answer: Supplier Selection
What is the term for the level of inventory at which a new order should be placed to replenish stock before it runs out?
Answer: Reorder Point
What is the term for the process of planning and controlling the movement of goods to minimize costs and maximize efficiency?
Answer: Transportation Management
What is the term for the process of receiving, storing, and distributing goods from a warehouse?
Answer: Warehouse Management
What is the term for the systematic coordination of traditional business functions within a particular company and across businesses within the supply chain?
Answer: Integrated Logistics
What is the term for inventory that is held to protect against uncertainties in demand or supply?
Answer: Safety Stock
What is the term for the person or company responsible for transporting goods on behalf of the owner?
Answer: Freight Forwarder
What is the term for the system used to track and manage inventory within a warehouse?
Answer: Warehouse Management System (WMS)
What is the term for the process of improving the flow of information and products within the supply chain to enhance efficiency and customer satisfaction?
Answer: Supply Chain Optimization
What is the term for the cost associated with holding inventory over time?
Answer: Carrying Cost
What is the term for the document that serves as a receipt for the goods and a contract for their transportation?
Answer: Bill of Lading
What is the term for the process of organizing and managing the layout of a warehouse to maximize efficiency and safety?
Answer: Warehouse Layout Optimization