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Flashcards in Final Exam Deck (35)
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1
Q

Consignor

A

Firm originating the shipment

2
Q

Consignee

A

Party freight is being shipped to

3
Q

LTL Less than a truck load

A

Defined as 100 to 10,000 lbs.

4
Q

TL Truckload

A

By definition, shipments greater than 10,000 lbs

5
Q

Motor Carriage

A

or trucks are the most flexible mode of transportation and, account for almost one-third of all U>S. for hire-transportation expenditures

6
Q

Rail Carriage

A

compete most favorably when the distance is long and the shipments are heavy and bulky.

7
Q

Water Carriage

A

is very inexpensive but also very slow and inflexible.

8
Q

Pipeline Carriage

A

are very specialized with respect to the products they can carry; however, once the initial investment of the pipeline is recovered, there is very little additional of maintenance cost, so long-term pipeline transportation tends to be very inexpensive.

9
Q

Trailer on Flat Car TOFC

A

was a system where goods were loaded into a semi-trailer, driven to the rail yard and backed onto flatcar.

10
Q

Demurrage

A

represents a delay that occurs during the transportation of goods via truck. When this happens, the trucking firm delivering the product can opt to pay a flat fee to the receiver to cover any loss incurred as a result of the delay. This fee can be assessed on an hourly basis

11
Q

Detention

A

: relates to equipment (while the container is empty after unpacking or before packing) .and after the container has been picked up, till the time the empty is returned to the lines nominated depot, ______ is charged.

12
Q

Consolidation

A

Combine shipments, min. order, etc. Also know ‘weight breaks” where LTL rates go down.

13
Q

Fuel Subcharges

A

An additional charge added to a freight bill to compensate for higher carrier fuel costs

14
Q

Expediting

A

the act of contracting the supplier to speed up an overdue shipment

15
Q
  • 11 hours of driving per “day”
  • 14 hours clock time maximum on-duty time (i.e. 8 a.m. to 10 p.m.)
  • 10 hours “off duty’ to re-set
A

HOS: The 3 most important “rules” are:

16
Q

BOL Bill of Landing

A

is a contract between shipper and carrier that outlines carrier responsibility and shows number of pieces, weight, shipping address, etc.
• Most often the carrier’s form is filled in by the shipper
Also acts as a receipt when signed at receiving dock—note damages and shortages

17
Q

Freight Bill

A

is the invoice–the charge from the carrier to the shipper requesting payment.

18
Q

Deregulation

A

Is also argued to be good because it encourages competition and allows prices to adjust as supply, demand and negotiations dictate. In addition, antitrust laws already in place tend to protect transportation consumers. Allowed many more trucking companies to enter the market.

19
Q

Smartway Program

A

Truck and rail transportation provides a cost-effective means to transport much of America’s freight. Truck and rail fleets can take simple actions to make ground freight more efficient and cleaner for the environment. The following technologies and strategies can help reduce fuel consumption and emissions from freight trucks.

20
Q

CDL Commercial Driving License

A

a national system. Written and on-road tests

21
Q

Compliance Safety Accountability (CSA):

A

A federal program administered by FMCSA to reduce trucking and bus accidents. A more comprehensive database of drivers and carriers is designed to target safety enforcement on drivers and carriers “at risk.”

22
Q

customs Brokers

A

move global shipments through customs for companies as well as handle the necessary documentation required to accompany the shipments.

23
Q

C-TPAT Customs –Trade Partnership against terrorism

A

: a partnership between U.S. customs, the international cargo security council (a U.S. nonprofit association of companies and individuals involved in transportation) and Pinkerton (a global security advising company, headquartered in New Jersey), whereby companies agree to improve security in their supply chain in return for “Fast Lane” border crossings.

24
Q

Right-Shoring

A

: the combining of on-shore, near-shore and far-shore operations into a single, flexible, low-cost approach to supply chain management.

25
Q

Twenty Foot equivalent TEU

A

is an inexact unit of cargo capacity often used to describe the capacity of container ships and container terminals. It is based on the volume of a 20-foot-long (6.1 m) inter modal container, a standard-sized metal box which can be easily transferred between different modes of transportation, such as ships, trains and trucks

26
Q

Supply Chain Management

A

is the coordination of production, inventory, location, and transportation among the participants in a supply chain to achieve the best mix of responsiveness and efficiency for the market being serviced.”

27
Q

= Average Inventory / Daily Demand

A

Days on hand

28
Q

Cost of Revenue/ average Inventory

A

Inventory Turnover Rario

29
Q

Days on hand * Daily demand

A

Avg Inventory

30
Q

3PL

A

A company is pursuing a strategy when it hires an outside firm to handle most or all of its logistics. Doing so allows the company to focus on its core business without having to, say, maintain a fleet of trucks or keep abreast of ever-changing export regulations.

31
Q

Freight Consolidation

A

Cargo shipping method in which a freight forwarder at the port of origin combines several individual consignments to make up a full container load. This arrangement allows the goods to be shipped as containerized-cargo that offers greater security at lower shipping rates.

32
Q

Buffer Stock

A

: is the level of inventory needed to maintain consistent production. It ensures that brief interruptions and fluctuations in non-constraints do not affect the constraint

33
Q

Miscellaneous Rates

A

apply to contract rates that are negotiated between two parties and to shipments containing a variety of products (in this case, the rate is based on the overall weight of the shipment).

34
Q

Exception Rates

A

are rates that are lower than the NMFC class rates for specific origin-by account basis.

35
Q

Commodity Rates

A

apply to the minimum quantities of products that are shipped between two specified locations