| Vocabulary | Definition |
|---|---|
| Logistics | The process of planning, implementing, and controlling the movement of goods or services from the point of origin to the point of consumption. |
| Supply chain | The network of businesses involved in the creation and delivery of a product or service, including suppliers, manufacturers, distributors, and retailers. |
| Transportation | The movement of goods or people from one place to another. |
| Freight | Goods that are transported by truck, train, ship, or airplane. |
| Carrier | A company that provides transportation services for goods or people. |
| Inventory | The stock of goods or materials that a company has on hand. |
| Warehousing | The storage of goods or materials in a warehouse or other facility. |
| Distribution | The process of delivering goods or materials from a warehouse or other facility to their final destination. |
| Supply chain management | The coordination and management of the various activities involved in the creation and delivery of a product or service. |
| Just-in-time (JIT) | A production and inventory control method that emphasizes the delivery of goods and materials just when they are needed in the production process. |
| Kanban | A visual scheduling system used in manufacturing and logistics to control the flow of materials and goods. |
| Cross-docking | A logistics strategy in which goods are unloaded from one truck or container and immediately loaded onto another, without being stored in a warehouse. |
| Freight forwarder | A company that arranges and coordinates the transportation of goods for another company. |
| Third-party logistics (3PL) | A company that provides logistics services for another company, such as transportation, warehousing, and distribution. |
| Intermodal transportation | The use of multiple modes of transportation, such as truck, rail, and ship, to move goods from one location to another. |
| Last mile delivery | The transportation of goods from a warehouse or distribution center to their final destination, typically a consumer's home or business. |
| Reverse logistics | The process of managing the return of goods from the point of consumption back to their point of origin. |
| RFID (Radio Frequency Identification) | A technology used in logistics and supply chain management to track and identify objects using radio waves. |
| GPS (Global Positioning System) | A satellite-based navigation system used in logistics and transportation to track the location of vehicles and shipments. |
| EDI (Electronic Data Interchange) | A computer-to-computer exchange of business documents, such as purchase orders and invoices, between companies. |
| Bill of lading | A legal document that serves as a contract between a shipper and a carrier for the transportation of goods. |
| Customs clearance | The process of getting goods through customs and into a country. |
| Incoterms | A set of standardized international trade terms used to define the responsibilities of buyers and sellers in a transaction. |
| Freight class | A classification system used in the transportation industry to determine the rate for shipping goods based on their weight, size, and density. |
| LTL (Less Than Truckload) | A type of shipping in which multiple small shipments from different companies are combined to fill a single truck. |
| FTL (Full Truckload) | A type of shipping in which a single shipment fills an entire truck. |
| Carrier liability | The legal responsibility of a carrier for the loss or damage of goods during transportation. |
| Lead time | The amount of time between the initiation of an order and the receipt of the goods. |
| Safety stock | Extra inventory that is kept on hand to ensure that there is enough supply to meet demand. |
| Reorder point | The point at which inventory levels are low enough that an order needs to be placed to replenish stock. |
| Cycle time | The amount of time it takes to complete a process or cycle, such as the production or delivery of a product. |
| Capacity planning | The process of determining the production capacity needed to meet demand for a product or service. |
| Order fulfillment | The process of receiving, processing, and delivering customer orders. |
| Pick and pack | The process of selecting and packaging items from inventory for customer orders. |
| Barcoding | A system of encoding data in a series of vertical bars of varying widths, used for the identification of goods and materials. |
| Pallet | A flat platform used for storing and transporting goods, typically made of wood or plastic. |
| Material handling | The movement, storage, and control of materials and products throughout the manufacturing and distribution process. |
| Dock | A platform used for loading and unloading trucks or other vehicles. |
| Forklift | A powered industrial truck used for lifting and moving heavy objects. |
| Trailer | A wheeled vehicle used for transporting goods or materials, typically attached to a truck or tractor. |
| Yard management | The management of the movement and storage of trailers and other equipment within a transportation yard or facility. |
| Shipment tracking | The process of monitoring the movement of a shipment from its point of origin to its final destination. |
| Freight rate | The price charged for the transportation of goods or materials, based on factors such as distance, weight, and mode of transportation. |
| Load board | A platform used by carriers and shippers to find and book loads for transportation. |
| Deadhead | The transportation of an empty truck or trailer, typically returning from a delivery. |
| Drop and hook | A logistics strategy in which a truck drops off a trailer at a warehouse or distribution center and picks up another trailer for delivery. |
The 50 vocabulary terms listed in this table are just a few of the many important concepts involved in logistics and supply chain management. By familiarizing yourself with these terms, you'll be better equipped to navigate this complex field and make informed decisions that can help your business succeed.