Glossary

See Marine Cargo Insurance - Average.

Also called particulate polution. A mixture of solid particles and liquid droplets found in the air. Subject to regulations in most countries.

Measures output and efficiency for passenger transportation. It represents the number of passengers transported and the distance traveled.

A string of characters, verbal command, or biometric feature used to authenticate an identity or to verify access authorization.

A clearly defined route to profitability, a business plan that includes forecasted or projected figures and milestone markers that the firm is aiming to achieve.

An agreement where payment is initiated by product consumption, such as with consignment stock based on the withdrawal of product from inventory.

The transfer of one form of good, service or financial asset in exchange for another form of good, service or financial asset. Example: money exchanged for goods.

Obtaining the good, service or financial asset due from another. Includes the process of billing for, receiving, and accounting for the assets due.

The sum total of all compensation - such as wages, benefits, and profit sharing - a business must pay to its employees for a set period of time or on a given date.

In logistics, the time period when the desire by customers for goods or services is at the highest point.

A network of computers connected via the internet and that can share data directly without the need of a central server.

A DRP system technique that traces demand for a product by date, quantity, and warehouse location to help forecast future needs and optimize inventory levels.

Per day; a daily rate. In railroading, the rate that a railroad company pays to use another company’s freight cars.

Error free; delivered on-time, with the right quantity of items, without any quality issues, the correct paperwork, and to the customer's satisfaction.

Programs that track and report key measurements in the supply chain – inventory days of supply, on-time delivery, order cycle times, capacity utilization, etc.

A document that grants a business permission to do something, such as to operate as a contract carrier. Often needed for special moves (e.g., oversize shipments).

An accounting method where the record of inventory is kept continuously up to date by detailing entries for all incoming and outgoing items as they occur.

A single-user general purpose computer that uses microprocessor technology and is intended to be operated directly by an end user.

In logistics, when a company charges different rates to shippers with similar transportation characteristics or similar rates to shippers with differing characteristics.

All logistics related activities to get finished goods from the production line to the final user. See Distribution.

In logistics, the movement and storage of raw materials from supply sources to the manufacturing facility, including transportation, handling, and storage.

A document displaying the items to be selected from stock to fill an order. While simple in output, the selection process can be sophisticated.

A picking system that consist of lights and LED displays for each pick location. Software is used to light the next pick and display the quantity to pick.

A document that authorizes the designated party to pick up cargo or equipment from a specified location within a specified time frame.

The process of selecting and gathering products within a warehouse and preparing them for shipment. Process may be automated, manual, or a combination.