Glossary

Provides a single interface to coordinate multiple (all) logistics services for a client, often using other 3PLs and its own assets. See 4PL.

The time between the placement and receipt of an order. This includes the time for order transmittal, processing, preparation, and transit.

In logistics, a section of a journey that is booked through the same carrier, usually composed of consecutive segments of a route. Also called Bookable Leg.

When goods do not fill an entire container. Ocean LCL rates are higher on a per-unit basis than for a full container but less than the cost to ship the full container.

When goods do not occupy an entire railcar. Rail LCL rates are higher on a per-unit basis than for a full railcar but less than the cost to ship the full railcar.

See Less than Container Load (LCL).

Freight that does not occupy a full trailer. Generally, shipments that are too large for parcel carriers and which occupy less than half a trailer, are considered LTL.

Trucking companies that specialize in transporting LTL freight, using utilizing a network of terminals and hubs.

The person or business to whom a lease is granted. The one that holds a lease, such as a tenant.

The person or business who grants a lease. The one who leases property, such as a landlord.

Document issued by a bank stating a purchaser has established credit, and confirming payment for goods will be made upon presentation of certain documents.

An investment strategy of using borrowed money to increase the potential return of an investment. Principle of something small used to gain greater impact.

The accumulated costs incurred by a product from the initial product conceptualization and development to withdrawal from the marketplace and final disposition.

A method of loading and unloading cargo from an ocean vessel using a crane. Also, the name of the vessels that use this method of loading and unloading cargo.

A barge-type vessel, typically with it own propulsion system, used to carry cargo between shore and cargo ship. A lighter is used for a short-haul movements.

The cost of loading or unloading cargo on a vessel by using barges.

In logistics, areas companies associate with daily operations such as traffic management, inventory control, order processing, warehousing, and packaging.

A single detailed record on an order or invoice. Also, a specific and unique identifier assigned to a product by the responsible enterprise.

In trucking, a shipment leg that moves more than 100 to 150 miles in length. In marine, a vessel's route covering the greatest distance, usually across an ocean.

Water carriers, usually international, that offer fixed routes on published schedules.

In logistics, a transportation method used to connect nodes (plants, warehouses, etc.). Can be a simple truck or train or a complex system of interconnected modes.

Computer systems owned and managed by independent organizations conneted in a manner to allow direct updates to be made to one system by another.

In logistics, when the equipment operator stays with the trailer or boxcar while it is being loaded or unloaded.

The actual, real-time, location of a vessel or last updated position. See AIS Technology which is a primary method of tracking vessels.

An offer from a shipper to transport cargo. Load tender is a term used mainly in the motor industry.