Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
Centroid method
|
A technique for locating single facilities that considers the existing facilities, the distances between them, and the volumes of goods to be shipped.
|
|
Cross-docking
|
An approach used in consolidation warehouses where, rather than making larger shipments, large shipments are broken down into small shipments for local delivery in an area.
|
|
Factor-rating systems
|
An approach for selecting a facility location by combining a diverse set of factors. Point scales are developed for each criterion. Each potential site is then evaluated on each criterion and the points are combined to calculate a rating for the site.
|
|
Free trade zone
|
A closed facility (under the supervision of government customs officials) into which foreign goods can be brought without being subject to the payment of normal import duties.
|
|
Hub-and-spoke systems
|
Systems that combine the idea of consolidation and that of cross-docking.
|
|
International logistics
|
All functions concerned with the movement of materials and finished goods on a global scale.
|
|
Logistics
|
The art and science of obtaining, producing, and distributing material and product in the proper place and in the proper quantities.
|
|
Third-party logistics company
|
A company that manages all or part of another company’s product delivery operations.
|
|
Trading blocs
|
A group of countries that agree on a set of special arrangements governing the trading of goods between member countries. Companies may locate in places affected by the agreement to take advantage of new market opportunities.
|
|
Transportation method
|
A special linear programming method that is useful for solving problems involving transporting products from several sources to several destinations.
|