ABC Analysis : It gives a component to recognizing things that will significantly affect in general stock expense alongside distinguishing various classifications of stock that will require diverse administration and controls. Classifying of things in stock according to criticalness described similar to criteria, for instance, deals volume and buy volume


ABC Analysis : It gives a component to recognizing things that will significantly affect in general stock expense alongside distinguishing various classifications of stock that will require diverse administration and controls. Classifying of things in stock according to criticalness described similar to criteria, for instance, deals volume and buy volume

ABC costing: A set of cost accounting models based on activity, which collectively defines data on the resources, activities, drivers, objects, and measures of an organization.

ABC inventory control: An approach based on the ABC volume or sales revenue classification of products (A items are highest volume or revenue, C – or perhaps D – are lowest volume SKUs.)

ABC model: In cost management, a portrayal of resource costs over a period of time consumed through activities and traced to products, services, and customers, or any other object which creates a demand for the activity to be carried out.

ABC system: In cost management, a system that keeps financial and operating data on the resources, activities, drivers, objects, and measures of an organization. ABC Models are created and maintained within this system

ABI (Automated Broker Interface): The U.S. customs program is designed to automate the fluidity of customs info among customs brokers, importers and carriers.

ABM (Activity-Based Management): A discipline that focuses on managing activities within business operations as a route to constantly enhance both the value customers receive and the profit earned in providing that value. AMB uses cost information and performance measurements based on the activity to influence management actions.

ABP Activity-Based Planning: Activity-based planning (ABP) is an evolving process for determining activity and resource requirements (both financial and operational) based on the ongoing demand by specific customer needs for products or services. Resource needs are contrasted with available resources, and capacity constraints are identified and managed.

Abnormal Demand: Request at any time beyond the limits laid down by management policy. Such demand can come from a new customer, or from existing customers with increasing or decreasing demand for themselves. The nature of the demand must be assessed with care: is it a volume change, is it a change in the product mix or is it related to the timing of the order.

Absorption Costing: In cost management, an inventory valuation approach in which each production unit is assigned variable costs and a portion of the fixed costs. Generally, fixed costs are assigned to production units based on direct labor hours, computer hours or cost of materials.

Accelerated commercial Release Operations Support System A Canada Customs system to speed up shipment releases by allowing data to and from Canada Customs to be transmitted electronically 24 hours a day, 7 days a week..

Acceptable Quality Level (AQL): In quality management, when considering a continuous series of lots, AQL represents a level of quality which is the limit of a satisfactory process average for sampling inspection.

Acceptable Sampling Plan: In quality management, a specific plan outlining the sampling sizes to be used and the associated acceptance or non-acceptance criteria.

Acceptance Number: : In quality management, 1) A number used as a cut off in acceptance sampling in which the lot is accepted or rejected. For example, if x or more units inside the sample are bad, the lot will be dismissed. 2) The value of the test statistics which divide all possible values into regions of acceptance and refusal.

Acceptance Sampling: 1) The method of testing a portion of the goods for inspection instead of the whole lot. Based on the sample, the whole lot may be accepted or rejected even though the particular units in the lot are better or worse than the sample.2) A method for evaluating random samples of products lots or batches against preset standards.

Access Space: A passage used to access rack compartments and stacks. It is used for the purpose of counting materials

Accessibility: A carrier’s ability to provide service between an origin and a destination

Accessorials: The freight term used to describe accessorial services that require more than dock-to-dock transportation. Accessorials commonly include the need for special equipment and services like liftgates, non-commercial destinations, and inside pickup and/or delivery

Accessorial Charges: A carrier’s charge for accessorial services such as loading, unloading, pickup, and delivery, or any other charge deemed appropriate.

Accountability: Being answerable for, but not necessarily personally charged with, doing specific work. Accountability cannot be delegated, but it can be shared. For example, managers and executives are accountable for business performance even though they may not actually perform the work

Accounts Payable:  The value of goods and services acquired for which payment has not yet been made.

Accounts Receivable: The value of goods shipped or services rendered to a customer on whom payment has not been received. Usually includes an allowance for bad debts.

Accreditation: Certification by a recognized body of the facilities, capability, objectivity, competence, and integrity of an agency, service, operational group, or individual to provide the specific service or operation needed. For example, the Registrar Accreditation Board accredits those organizations that register companies to the ISO 9000 Series Standards.

Accredited Standards Committee: A committee of ANSI chartered in 1979 to develop uniform standards for the electronic interchange of business documents. The committee develops and maintains US generic standards (X12) for Electronic Data Interchange.

Accumulation Bin: A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor

Accuracy: In quality management, the degree of freedom from error or the degree of conformity to a standard. Accuracy is different from precision. For example, four-significant-digit numbers are less precise than six-significant-digit numbers; however, a properly computed four-significant-digit number might be more accurate than an improperly computed six-significant-digit number

ACD Automated Call Distribution: A feature of large call center or “Customer Interaction Center” telephone switches that routes calls by rules, such as next-available employee, skill set, etc.

Acknowledgement: A communication by a supplier to advise a purchaser that a purchase order has been received. It usually implies acceptance of the order by the supplier.

Acquisition Cost: In cost accounting, the cost required to obtain one or more units of an item. It is order quantity times unit cost.

Action Message: An alert that an MRP or DRP system generates to inform the controller of a situation requiring his or her attention.

Active Block: Stacking the loads that are processed, and on/from which articles are placed/removed as needed

Active Stock: Goods in successful select locations and ready to fill in orders

Activity Ratio: A financial calculation used to determine how the resources of an organization perform with respect to the revenue generated by the resources. Operation ratios include turnover of inventories, time of transfer of receivables, turnover of fixed assets and return on assets

Ad valorem Duty: Duty calculated as a percentage of the value of the shipment.

AND: ADN is a European agreement to transport dangerous cargo internationally through inland waterways. The formal (French) name is: European Agreement on the movement of dangerous goods through inland waterways.

Address : Locations that are set within the logistics facility with physical boundaries and entered the network with an identifier number.

Addressing: Placing the goods or transport units (baskets, boxes, pallets, etc.) physically at an address within the facility during an operation inside the logistics facility and recording them in the system by comparing the identification number to the identification number of the location at which they are located.

Adjustments: charges paid upon the completion of a package. These charges can be added for a disparity between the quoted freight characteristics and the specifics of weight, class and dimensions of the delivered shipment, or can be accrued for additional services such as a liftgate.

ADR: ADR is the abbreviation of the French title of the European treaty on the international transport of hazardous substances on the road: Accord Européen relatif au transport international des marchandises dangereuses par route

Advance Fee: The forwarding agent bears different costs in advance for the customer. Since this also includes net costs passed on 1-on-1, a fee in the form of a percentage of the amount paid in advance may be stipulated by the forwarding agent. This fee is also known as credit restriction

AFR, Advance Filing rule: All ports in greater China, and all ports in Japan, with the exception of Hong Kong, require an Advance Filing. This refers to all cargo being imported and to cargo being transhipped through these countries.

Advance Material Request: Ordering of materials prior to formal product design release. Due to long lead times, this early release is essential.

APS Advance Planning and Scheduling: Techniques dealing with logistics and production research and preparation over the short, intermediate, and long term phases. APS defines any computer program that uses advanced mathematical algorithms or logic to automate or simulate the scheduling of finite resources, acquisition, capital planning, resource planning, forecasting, demand management, and others.

Advance Shipment Notice: An EDI word referring to a transaction collection (ANSI 856) in which the manufacturer sends the interested parties a notice that a shipment is now outbound in the supply chain. A note is a list that is sent to a client or consignor designating products that are delivered.

AEO Authorised Economic Operator: Companies and suppliers dealing with products that cross the European border must comply with the revised Eu customs regulation. In addition to the regulations, the European Union wants to create better facilities for enterprises, resulting in fewer logistical delays and lower administrative costs. This is why the AEO certificate was created. After 1 January 2008, it is possible to apply for the status of Authorized Economic Operator (AEO), which is applicable across the EU.

Affreightment: Affreightment is the hire of a vessel in whole or in part

AFTKs: Available freight tonne kilometres

AG (general average): AG is the general-average abbreviation. The collective interest-retaining vessel and cargo-takes precedence in the case of the general average. The Captain makes some sacrifices in the pursuit of common interest. In this case, it is clear that each interested party bears a proportionate share of the damage, which would otherwise have been at the expense of one of the parties concerned.

Aggregate Tender rate: A reduced rate given to a shipper who offers at one time and place two or more class-related shipments

AIGPRS Automatic identification general packet radio service

Aircraft Container: A unit loading device (ULD) that connects directly to the aircraft cargo handling and retainer network.

Aircraft Pallet: A standard dimensional platform used to assemble goods, which is secured by nets and straps before being loaded onto an airplane as a unit. The palletizing results in efficient use of space and better handling of cargo.

Airfreight: A facility allowing for the transport of goods by sea. This mode of transport allows shipping time to decrease, low loss ratios and lower shipping costs for certain goods.

Airfreight forwarder: A collection and delivery service to and from the shippers dock is provided by an Air Freight Forwarder. Responsibilities also include consolidating shipments into larger units from different shippers, planning shipping paperwork and tendering freight to airlines. In general, forwarders do not fly their own aircraft and can be listed as an “indirect air carrier”

Airfreight handling fees: Fees paid to cover the costs of loading / unloading the aircraft freight. The processing group manages the goods in a secluded part of the airport. Here the pallets are assembled and/or disassembled for airfreight. The products are subsequently divided among the various airfreight dispatching agents for further distribution when they are imported. When exporting, the products are obtained from the various airfreight dispatching agents.

Air Cargo: Air cargo is the items that will / shall be transported by sea.

Air Cargo Agent: An agent authorized by an airline to order and process foreign shipments of air freight.

Air cargo Containers: Containers designed to fit a plane’s inside. Containers have many shapes and sizes. Air cargo containers fall into three categories: 1) air cargo pallets 2) lower deck containers 3) box type containers

Air Carrier: An enterprise providing air transport services

Airport and Airway trust Fund: A federal fund-collecting taxes on airline fares and disbursing those funds for services at the airports.

Air Taxi: An exempt air carrier flying anywhere on request; air taxis are limited to a maximum payload and per plan passenger capacity.

Air Transport Association of America: A U.S. airline industry association

Air Waybill (AWB):  A bill of lading for air freight, which acts as a receipt for the shipper, means that the carrier has approved the mentioned goods, obliges the carrier to deliver the consignment to the destination airport under the conditions specified.

AIS-base station: Station on land which receives messages from the vessel.

Aisle: A passageway in a warehousing area.

Allotment: A term used by the airlines on behalf of forwarders/shippers to describe blocked space.

All-Cargo Carrier: An air carrier that transports cargo only

All-Risk insurance: The widest type of coverage available to protect against any risk of physical loss or damage caused by any external cause, such as fire collision, pilfering, etc. It does not compensate loss or damage due to delay, acts of war, actions of labor, conditions of per-shipment, insufficient packaging or business loss. All air shipping liability policy usually prevents loss due to cold or changes in atmospheric pressure All Water: Term used when the transport is entirely by water.

American Society of Transportation & Logistics: A qualified logistics company.

American trucking Association: An organization of motor carrier industry, made up of subconferences serving various sectors of the motor carrier industry.

American Waterway Operator:  Association of the domestic water companies serving barge operators on inland waterways.

AMS filing Automated Manifest System: For security reasons, U.S. and Mexican customs demand to know the nature of the containers, including all goods, 24 hours before departure from the port of Shipping. It refers both to freight with a final destination in the United States and Mexico and to goods imported or stored in those countries.

Amtrack: The National Railroad Passenger Corporation, a constitutionally formed company which oversees most of the intercity passenger rail service in the United States

Any-Quantity(AQ) rate: A rate applicable to any shipment of any size tendered to a carrier; there is no discount rate for large shipments.

AP: Acronym for specific average and involves costs and/or losses which are incurred solely by the ship-owner whose vessel is affected or by the owner of the damaged cargo.

API:  American petroleum Institute, also application programming interface.

APU: The main locomotive engine idle was automatically shut down by APUs while retaining all critical main engine functions at significantly reduced fuel consumption.

AQL Acceptable Quality Level

A/R Accounts Receivable

Arrival Notice: A note from the shipping carrier to the Notify Party indicating the date of arrival of the shipment at a particular location (normally the destination).

AS/RS: A high-density inventory storage system with autonomous vehicles loading and unloading goods automatically to/from the racks.

ASQ American Society for Quality

Association of American railroads:  Association of the railway industry serving the broader U.S. railways.

Astern: Astern is in the back of the ship, opposite of ahead.

ATA  Actual time of arrival, or also known  as the American trucking Associations

ATA Carnet Temporary Admission: For the temporary import and export of goods, the ATA system has a range of simplifications. Importing briefly means eventual re-export. Temporary export means re-import afterward. The carnet acts as a statement of the goods to which it applies in the case of temporary import, temporary export, re-importation, and re-export.

ATD Actual time of departure

ATFI  Automated tariff Filing Information System

ATP Available to promise: The undecided section of a firm’s stock and expected production held promising consumer-order service in the master schedule. The ATP quantity is the first-period uncommitted inventory balance and is usually determined for each day during which an MPS receipt is scheduled. In the first cycle, ATP contains less due and delayed on-hand inventory of customer orders. Three measurement methods are used: discrete ATP, cumulative ATP with the forward look and cumulative ATP without looking forward.

ATR certificate/ ATR movement certificate: An ATR certificate is a customs permit that allows for the use of bij trade between the EU and Turkey. The EU has a customs agreement with Turkey that means most goods will be duty-free imports. Goods must originate in the EU or Turkey. This is set out in an ATR certificate

Audit:  The word audit is used in relation to freight bills to assess the quality of the freight bills.

Auditing: Determining the right carriage charges owed to the carrier; auditing involves reviewing the freight bill for defects, correct cost, and weight

Audit Trail: Tracking manual or computerized transactions that affect the content or origin or record.

AutoID: Referred to a program of automatic identification. This involves techniques such as barcoding and marking radio frequencies (RFID

ABI Automated Broker Interface: The U.S. customs program is designed to simplify the transfer of customs information between customs brokers, importers and carriers

Automated Economic Operator

Automated manifest System: Of security purposes, U.S. and Mexican customs demand to know the existence of ships, including all goods, 24 hours before vessel departure from Loading port. It refers to both freight with a final destination in the United States and Mexico and goods imported or stored in those countries

Average Grosse: General average. The collective interest-retaining vessel and cargo-takes precedence in the case of the general average. The Captain makes some sacrifices in the pursuit of common interest. In this case, it is clear that each interested party bears a proportionate share of the damage, which would otherwise have been at the expense of one of the parties concerned.

Average Particular: Particular average involves the costs and/or losses incurred entirely by the owner of the ship whose vessel is damaged (e.g. storm damage) or by the owner of the damaged cargo (e.g. due to leakage). Unlike the general average, a particular average does not require a shared interest..

Aviation and Transportation Security Act(ATSA): A bill passed November 2001 to ensure the safety of aviation in all means of transport