Logistics and Supply Chain Vocab 2

What is a vendor?

• The location where a product is created.

• The machine used to dispense soda.

• A supplier of goods or services.

• A company has a list of vendors with whom they purchase from.

What is a Bill of Lading?

• The purchase price of the freight or goods.

• A detailed list of goods. Acts a receipt or 'title' for the goods being transported. Required by law.

• Label that attaches to each package.

• The bill for the delivery of the cargo.

What is 3PL?

• Third Party Logistics company. May Store, pick, pack and ship material on your behalf.

• The third highest ranking officer in an organization.

• The contract stating guaranteed delivery time of packages.

• A robot on Star Wars.

What is outsourcing?

• Splitting a warehouse into multiple departments.

• Moving a production facility to a foreign country.

• Utilizing a web site to attract more buyers for a product.

• The practice of hiring an outside party (vendor) to make a product or provide a service.

What is a consultant?

• The best employee at a company.

• A person who provides expert advice for a fee.

• A government official who approves plans.

• A 3rd party auditor that assesses an organization to a standard such as ISO9001.

What is picking?

• Process where individual items are removed from stored location to fill an order.

• To decide on the best place to eat.

• Teasing someone.

• Storing items in a warehouse location for future use.

What is SKU?

• The main processor of a computer.

• Stock Keeping Unit. A number (barcode) given to a product or model. Used to track inventory.

• The special license needed to drive a fork truck.

• A label printer.

What is a market area?

• A geographic zone containing the people and businesses who are likely to purchase the product.

• A large building containing groceries and other household necessities.

• The center of Wall Street.

• The downtown shopping locations.

What is proximity?

• The time of day.

• How close two entities are located geographically.

• A facility used to facilitate the movement of goods.

• The specification or requirements of a product or service.

What is intermodal transport?

• A special highway for fast trucks.

• Transporting freight by using two or more transportation modes such as by truck and rail or truck and ocean going vessel.

• A plane that carries both people and cargo.

• Delivering cargo to the international space station.