Glossary

The integration of the global economy through trade, communications and culture. Also, making something worldwide in scope or application.

The value that assumes the company will remain in business indefinitely and continue to be profitable. A consideration in determining reasonable rail rates.

A railcar with a flat platform and sides three to five feet high. Used for top loading long, heavy items. Often transports goods between factories and freight yards.

In logistics, materials that can be moved. Commonly used to designate the cargo that is shipped.

The document that is used for the transportation of goods by U.S. Government agencies.

Can provide an exemption from new regulations or allow a business to continue operating under old regulations.

Regulations passed by the US states of Illinois, Wisconsin, Iowa, and Minnesota in the 1860s & 1870s to curb the cost of rail transport and grain elevator storage.

Water carriers that transport cargo on the five Great Lakes – Superior, Huron, Michigan, Erie, and Ontario.

A quantitative technique to determine the lowest cost center for locating a plant or warehouse, considering inbound supplies and outbound shipments.

Equals the net sales minus the cost of goods sold. Also called the gross profit margin, which is gross profit divided by net sales.

The estimated total value of all the final products and services turned out in a given period by the means of production owned by a country's residents.

The total weight of a vehicle/trailer, railcar, or container and its cargo. Also, the weight of goods including packaging.

In U.S. railroading, loans backed by the federal government to finance development of railroad infrastructure.

See House Air Waybill (HAWB).

See Human Resources (HR).

A broad category that includes the costs associated with moving, transferring, preparing, and otherwise handling inventory.

Electronic information that is printed on paper.

International standardized system of names and numbers to classify traded products. Ensures consistency in classification for documentation and duty assessment.

The transportation of goods by truck. Also, used interchangeably with cartage and drayage.

When subjects of an experimental study attempt to change or improve their behavior simply because it is being evaluated or studied. First observed in the 1920's.

See Dangerous Goods.

A substance the DOT has determined to be capable of posing a risk to health, safety, and property when stored or transported in commerce.

Leveling. Refers to the leveling of production, aimed at improving the flow of a process to better match customer demand and improve efficiency.

In warehousing, a forklift truck that has a raised platform on which the operator stands.

In accounting, an approach to group activity costs at the organizational level where they are incurred, or can be directly related to such as unit, batch, and process.