Common Supply Chain Terminology – SolveForce Fiber Internet, Cloud Computing & Telecommunications

Here is a list of standard supply chain terminologies and their definitions:

3PL (Third-Party Logistics): A company that provides outsourcing services for all or part of a company’s supply chain, including transportation, warehousing, and order fulfillment.
5S: A Japanese management philosophy that seeks to improve efficiency and productivity by implementing five steps: sort, set in order, shine, standardize, and sustain.
Advanced shipping notice (ASN): A notification sent by the supplier to the customer, to inform them that a shipment of goods is on its way, and provide details about the contents and expected delivery date.
Artificial intelligence (AI): The development of computer systems that can perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. AI is increasingly being used in supply chain management, to improve decision-making, increase efficiency, and reduce costs.
Automated Guided Vehicle (AGV): A mobile robot used in manufacturing and warehouse operations, to transport goods and materials from one location to another.
Automated guided vehicles (AGVs): Self-guided vehicles that are used to automate material handling and transportation tasks in a warehouse or manufacturing facility.
Automated material handling: The use of automated equipment, such as conveyors, robots, and automated storage and retrieval systems, to handle and move materials within a warehouse or distribution center.
Bill of materials (BOM): A list of all the components and raw materials required to manufacture a product.
Block chain: A digital ledger technology that allows transactions to be recorded and tracked securely and transparently across a network of participants.
Blockchain: A decentralized digital ledger that is used to record transactions across a network of computers, in a way that is secure, transparent, and tamper-proof. Blockchain is being used in supply chain management to improve visibility, reduce fraud, and increase trust.
Capacity planning: The process of determining the production and resource requirements necessary to meet customer demand, in order to minimize waste, reduce costs, and improve efficiency. Capacity planning is a critical aspect of supply chain management, as it helps companies balance demand and supply, and ensure that they have the resources they need to meet customer needs.
Capacity planning: The process of determining the production capacity required to meet demand for goods or services.
Capacity planning: The process of determining the production capacity required to meet expected demand for products.
Capacity planning: The process of determining the resources and capacities required to meet expected demand.
Capacity planning: The process of forecasting the demand for goods and services, and ensuring that the supply chain has the capacity to meet that demand.
Capacity utilization: A measure of how efficiently production capacity is being used, calculated as the ratio of actual output to maximum potential output.
Capacity utilization: A metric that measures the extent to which the available capacity of a manufacturing plant, warehouse, or transportation network is being used.
Carrier selection: The process of choosing the most appropriate carriers for transportation of goods, based on factors such as cost, reliability, and delivery times.
Carrier selection: The process of choosing transportation providers, such as trucking companies, shipping lines, and airlines, to move goods and materials in the supply chain.
Carrier: A company that provides transportation services, such as shipping or trucking, for the movement of goods.
Category management: A procurement strategy where an organization groups similar products and services into categories, and manages the procurement of each category as a separate business unit.
Circular economy: An economic model based on the principles of reducing waste, conserving resources, and promoting sustainable growth, by reusing and recycling materials and products.
Cloud computing: The delivery of computing services, including servers, storage, databases, networking, software, analytics, and intelligence, over the internet, with no need for local installation. Cloud computing is being used in supply chain management to improve scalability, reduce costs, and increase speed and agility.
Cloud Supply Chain: A supply chain management approach that leverages cloud-based technologies, including cloud computing, cloud storage, and cloud-based applications, to improve supply chain efficiency, collaboration, and flexibility.
Collaboration: The coordination and cooperation between different organizations and individuals in the supply chain to achieve common goals.
Collaborative planning, forecasting, and replenishment (CPFR): A collaborative approach to supply chain management that involves the sharing of data and information between suppliers and customers to improve demand forecasting and inventory management.
Collaborative planning, forecasting, and replenishment (CPFR): A process where organizations work together to coordinate their demand forecasting, inventory management, and replenishment activities.
Collaborative planning, forecasting, and replenishment (CPFR): A process where suppliers and customers collaborate to plan and manage their inventory levels, in order to improve accuracy, reduce costs, and increase customer satisfaction.
Collaborative planning, forecasting, and replenishment (CPFR): A supply chain management practice that involves collaboration between suppliers, manufacturers, and retailers, to improve the accuracy of demand forecasts and reduce excess inventory.
Collaborative robots (cobots): Robots that are designed to work alongside humans, in a safe and flexible manner, to help improve efficiency, reduce costs, and increase productivity.
Compliance management: The process of ensuring that an organization complies with legal and regulatory requirements, as well as internal policies and procedures, related to supply chain management.
Consignment Inventory: An arrangement in which a supplier places its products in a customer’s facility for sale, but retains ownership of the products until they are sold.
Consignment inventory: An inventory management model where the supplier retains ownership of the goods until they are sold to the customer, and only receives payment for the goods once they are sold.
Consignment: A type of inventory arrangement where goods are stored by a consignee (such as a retailer) on behalf of the consignor (such as a supplier), and the consignor is paid only when the goods are sold.
Continuous improvement: A process of ongoing efforts to improve products, services, and processes, to increase efficiency and competitiveness.
Continuous improvement: A systematic approach to improving processes, products, and services, in order to increase efficiency, reduce waste, and improve customer satisfaction. Continuous improvement is a key aspect of supply chain management, as it helps companies stay competitive and adapt to changing market conditions.
Continuous improvement: The ongoing process of making small, incremental improvements to processes and systems in the supply chain.
Contract manufacturing: An arrangement where a manufacturer produces goods for another company, under its brand name or to its specifications.
Cost of goods sold (COGS): The cost of producing and delivering goods and services to customers, including direct materials, direct labor, and manufacturing overhead.
Cross-Docking: A distribution system where incoming products are immediately loaded onto outbound trucks, without being stored in a warehouse.
Cross-docking: A logistics practice where goods are received from suppliers and quickly reloaded onto outbound vehicles without being stored in a warehouse.
Cross-docking: A logistics process where incoming goods are sorted and immediately shipped out, without being stored in a warehouse.
Cross-Docking: A logistics process where incoming goods are sorted and shipped out again without being stored for an extended period of time.
Cross-Docking: A logistics strategy in which goods are received at a distribution center and immediately shipped to customers without being stored, with the goal of reducing lead time and improving efficiency.
Cross-docking: A logistics strategy where goods are transferred from incoming vehicles to outgoing vehicles with minimal storage, reducing the need for warehouse space.
Cross-Docking: A supply chain practice in which goods are transferred directly from inbound transportation to outbound transportation, without being stored in a warehouse.
Cross-functional collaboration: The practice of working together and sharing information and resources across different departments and functions within an organization, in order to achieve common goals and improve performance. Cross-functional collaboration is important in supply chain management, as it helps companies coordinate their activities and make better use of their resources.
Cross-functional collaboration: The process of working together across different departments and functions within an organization, to achieve a common goal.
Cybersecurity: The protection of internet-connected systems, including hardware, software, and data, from attack, damage, or unauthorized access. Cybersecurity is a growing concern in supply chain management, as the increasing use of technology creates new risks and vulnerabilities.
Cycle counting: A process of regularly counting a portion of inventory to ensure that inventory records are accurate.
Cycle Counting: An inventory management technique where a company regularly counts a portion of its inventory, instead of counting all of it at once, to maintain accurate inventory records.
Delivery lead time: The amount of time it takes for a supplier to deliver goods or services to a customer, from the time the order is placed. Delivery lead time is an important metric in supply chain management, as it affects the availability of goods and the level of customer satisfaction.
Demand Forecasting: The process of estimating future demand for a product or service, based on historical data and other relevant information.
Demand Forecasting: The process of predicting the demand for a product or service in the future.
Demand Management: The process of balancing the supply and demand for a product or service to optimize resources and minimize waste.
Demand Planning: The process of forecasting future customer demand for a product, including the identification of trends and the development of a demand plan.
Demand Planning: The process of forecasting future demand for a product or service, taking into account factors such as market trends, seasonality, and promotional activities.
Demand Planning: The process of forecasting future demand for products, services or materials based on historical data and market trends.
Demand Planning: The process of forecasting the demand for a product or service and using that information to plan and coordinate the supply chain.
Demand planning: The process of forecasting the future demand for products.
Demand Sensing: The use of real-time data, such as point-of-sale data, to adjust demand forecasts in near real-time, providing a more accurate picture of demand trends.
Demurrage: A charge assessed by a shipping company or a port when a customer takes too long to load or unload a vessel, causing delays and disrupting the flow of goods in the supply chain.
Digital twin: A digital replica of a physical product or system, that can be used to simulate, test, and optimize performance, without affecting the real-world product. Digital twins are being used in supply chain management to improve visibility, reduce costs, and increase efficiency.
Digital twin: A virtual representation of a physical object or system, used for simulation and analysis of real-world conditions and performance.
Disruptive innovation: An innovation that significantly alters the way an industry or market operates, typically by introducing new technologies or business models.
Distributed Order Management: The management of orders across multiple channels and locations, including stores, warehouses, and e-commerce sites, with the goal of providing a seamless and consistent customer experience.
Distribution center (DC): A facility used for storing, handling, and distributing goods and materials, in order to improve the efficiency of the supply chain. Distribution centers are an important component of many supply chains, as they help companies manage their inventory and distribute goods to customers more efficiently.
Distribution Center (DC): A warehouse or facility used for the storage and distribution of goods to customers or other distribution centers.
Distribution Center (DC): A warehouse or other facility that is used to store and distribute goods and materials to customers, typically located near the end market to reduce lead time and transportation costs.
Distribution Center: A facility where products are received, stored and then distributed to customers or other locations.
Distribution: The process of getting products to customers, including the transportation, storage, and delivery of goods.
Drop Shipping: A fulfillment method where a retailer does not keep goods in stock, but instead transfers customer orders and shipment details to a wholesaler, who then ships the goods directly to the customer.
Drop shipping: A fulfillment method where a retailer transfers customer orders and shipment details to the supplier, who ships the goods directly to the customer.
Drop shipping: A fulfillment model where a retailer does not keep products in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer.
Dropshipping: A retail fulfillment method where the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.
E-commerce logistics: The process of managing the movement of goods and materials in an e-commerce supply chain, including order fulfillment, returns, and shipping.
E-commerce: The buying and selling of goods and services over the internet.
Economic order quantity (EOQ): A model used to determine the optimal order size for inventory, in order to minimize costs and maximize efficiency. The EOQ model takes into account the cost of ordering and holding inventory, as well as the cost of running out of inventory, in order to determine the most cost-effective order size.
EDI (Electronic Data Interchange): A standard electronic communication method used to transfer data between organizations, including orders, invoices, and shipping information.
Electronic data interchange (EDI): A system used to exchange business data and transactions electronically, in a standardized format, between trading partners. EDI is commonly used in supply chain management to automate the exchange of purchase orders, invoices, and other business documents, in order to reduce errors, speed up transactions, and improve data accuracy.
Electronic data interchange (EDI): The electronic exchange of business data, such as purchase orders and invoices, between organizations.
Electronic data interchange (EDI): The electronic exchange of business documents, such as purchase orders and invoices, between organizations.
Emergency procurement: The process of acquiring goods and services quickly and efficiently, in response to an unexpected event or crisis that disrupts the supply chain. Emergency procurement may be necessary in situations such as natural disasters, supply chain disruptions, or sudden spikes in demand.
Enterprise Resource Planning (ERP): A business management software that integrates various business processes into a single, unified system.
Enterprise resource planning (ERP): A software system that integrates and manages the key business processes of an organization, including supply chain management.
Enterprise Resource Planning (ERP): A software system used by businesses to manage and integrate their core business processes, including supply chain management, production planning, and financial management.
Enterprise resource planning (ERP): A type of software that integrates and manages the various functions and processes of an organization, including supply chain management, finance, human resources, and manufacturing. ERP systems are used to improve efficiency, reduce costs, and streamline business processes, by providing a unified view of data and enabling real-time collaboration across different departments and functions.
e-Procurement: The use of electronic means, such as the internet, to purchase goods and services.
Event management: The process of planning, executing, and monitoring events, such as trade shows, product launches, and other marketing activities, in order to achieve specific goals and objectives. Event management is an important aspect of supply chain management, as it helps companies build relationships with customers, suppliers, and other stakeholders, and promote their products and services.
FIFO (first-in, first-out): An inventory management system where the first items received into inventory are also the first items to be sold or used. FIFO is commonly used in perishable goods, such as food, in order to minimize spoilage and waste, and ensure that fresh products are always available to customers.
Fourth-party logistics (4PL): An independent supply chain management organization that acts as an intermediary between a client and several service providers.
Freight audit: The process of verifying and reconciling the charges associated with the transportation of goods, to ensure accuracy and compliance with contractual agreements.
Freight Forwarder: A company that arranges and manages the transportation of goods from one location to another, typically on behalf of a customer.
Freight forwarder: A company that arranges the transportation of goods on behalf of its clients.
Freight forwarder: A company that specializes in the logistics of shipping goods from one location to another, on behalf of a shipper. Freight forwarders are commonly used in supply chain management to coordinate the transportation of goods, manage the customs clearance process, and provide other value-added services, such as insurance and tracking.
Freight forwarder: A third-party logistics provider that specializes in arranging and coordinating the transport of goods by air, sea, or land.
Global sourcing: The practice of sourcing goods and materials from suppliers located in different countries.
Global sourcing: The practice of sourcing goods and services from suppliers located around the world, in order to take advantage of cost savings, quality, and other benefits. Global sourcing is an important aspect of modern supply chain management, as it enables companies to access a wider pool of suppliers, reduce costs, and improve the efficiency of their supply chains.
Global sourcing: The practice of sourcing goods and services from suppliers located around the world.
Global Sourcing: The process of obtaining products or materials from suppliers located in different countries, in order to take advantage of lower costs or improved quality.
Global sourcing: The process of sourcing goods and materials from suppliers located around the world, to reduce costs and improve quality.
Global Supply Chain: A supply chain that operates across multiple countries, spanning multiple continents and time zones, and involves a complex network of suppliers, logistics providers, and customers.
Global Supply Chain: A supply chain that spans across countries and continents, incorporating suppliers, manufacturers, distributors, and retailers.
Global Supply Chain: A supply chain that spans multiple countries, including the coordination of international transportation, the management of customs and regulatory requirements, and the integration of cross-cultural teams.
Global trade management (GTM): The management of cross-border trade activities, including customs compliance, trade financing, and logistics.
Global trade management (GTM): The process of managing and optimizing the global supply chain, including import and export compliance, logistics, and trade financing.
Green logistics: The practice of designing and managing logistics operations with the goal of reducing their environmental impact.
Green supply chain management (GSCM): The integration of environmental considerations into the management of the supply chain, to reduce the environmental impact of goods and services.
Green supply chain management: The integration of environmental considerations into the design, management, and operation of the supply chain.
Green Supply Chain: A supply chain management approach that incorporates environmentally sustainable practices, including the reduction of waste, the use of renewable energy, and the adoption of eco-friendly technologies.
Green supply chain: A supply chain that is designed to minimize its impact on the environment, through practices such as waste reduction, energy conservation, and sustainable sourcing.
Inbound Logistics: The process of managing the flow of goods and materials into a company, including procurement, transportation, and storage.
Inbound Logistics: The process of managing the flow of goods into a company, including the coordination of transportation, the tracking of inventory levels, and the management of customs and border clearance.
Inbound Logistics: The processes involved in the receipt and storage of goods, including the coordination of transportation, the tracking of inventory levels, and the management of inbound shipments.
Intermodal Transportation: A shipping method that uses multiple modes of transportation (such as truck, rail, and ship) to move goods from the point of origin to the final destination.
Intermodal transportation: The use of multiple modes of transportation (e.g. truck, rail, ship) to move goods from one place to another.
Internet of things (IoT): The network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, which enables these objects to collect and exchange data. IoT is being used in supply chain management to improve visibility, increase efficiency, and reduce costs.
Inventory Control: The process of managing and monitoring inventory levels to ensure that they remain within a specified range, and to minimize waste, loss, and overstocking.
Inventory Management: The process of managing a company’s inventory levels, including the tracking of stock levels, the optimization of stock turns, and the minimization of stock obsolescence.
Inventory Management: The process of managing a company’s stock of goods, including determining how much to order, when to order, and how much to keep in stock.
Inventory Management: The process of managing the flow of goods and materials, including the storage, movement, and distribution of inventory to meet customer demand.
Inventory Management: The process of monitoring and controlling the flow of materials, goods and finished products to ensure that inventory levels are maintained at an optimal level.
Inventory Management: The process of overseeing and controlling the flow of goods, from the purchase and delivery of raw materials to the sale of finished products.
Inventory Management: The process of overseeing and controlling the flow of goods, including procurement, production, distribution, and storage.
Inventory management: The process of overseeing and controlling the levels of stock of goods and materials.
Inventory Management: The process of tracking and controlling the flow of goods and materials within a company, including the management of inventory levels, stock rotation, and replenishment, with the goal of balancing inventory costs and customer service levels.
Inventory turnover: A measure of how quickly inventory is sold and replaced over a given period of time.
Inventory turnover: A metric used to measure the speed at which a company sells and replaces its inventory, over a given period of time. Inventory turnover is an important indicator of a company’s operational efficiency and financial performance, as it reflects the balance between demand and supply, and the level of customer demand.
Inventory Turnover: The number of times a company’s inventory is sold and replaced over a given period of time.
Just-in-time (JIT) inventory management: An inventory management strategy that seeks to minimize inventory levels by delivering goods and materials just in time to meet customer demand.
Just-in-time (JIT) inventory management: An inventory strategy that focuses on receiving goods from suppliers just in time for use, minimizing the amount of inventory on hand.
Just-in-Time (JIT) Inventory: A method of inventory management where goods are delivered and manufactured only as they are needed, reducing the amount of waste and the need for storage space.
Just-In-Time (JIT) Inventory: A system in which inventory is received and used as it is needed, rather than being stored in large quantities.
Just-In-Time (JIT) Inventory: An inventory management strategy in which goods and materials are ordered and received just in time to meet customer demand, with the goal of reducing inventory costs and increasing efficiency.
Just-In-Time (JIT) Inventory: An inventory management strategy in which goods are manufactured or delivered just in time to meet customer demand, with the goal of reducing inventory costs and improving efficiency.
Just-In-Time (JIT) Inventory: An inventory management system in which inventory is delivered to the production line just as it is needed, reducing the need for large inventory holdings and minimizing the risk of stockouts.
Just-in-Time (JIT): A production method where items are manufactured or acquired only as they are needed, with the goal of reducing inventory costs and increasing efficiency.
Just-in-Time (JIT): A production strategy that emphasizes producing goods exactly when they are needed, in order to minimize inventory levels and reduce waste.
Kanban: A production control system that uses visual signals to trigger the release of materials or products when they are needed in the production process.
Kanban: A production control system used in lean manufacturing, that signals when to produce and deliver products, based on customer demand and inventory levels.
Kanban: A production control system used in lean manufacturing, where work is pulled through the production process based on demand signals from the customer.
Last Mile Delivery: The final stage of the delivery process, including the transportation of goods from the distribution center to the customer’s location.
Last mile delivery: The final step in the delivery of goods and materials, from the distribution center to the end customer. Last mile delivery is a critical and challenging aspect of supply chain management, as it often involves navigating complex urban environments, dealing with traffic congestion, and delivering to a wide range of customer locations.
Last Mile Delivery: The final step in the delivery of goods to the end customer, including the transportation of goods from a distribution center to the final delivery address.
Last-mile Delivery: The final leg of the delivery process, from the distribution center to the end customer.
Last-mile delivery: The final step of the delivery process, from a transportation hub to the end customer.
Lead logistics provider (LLP): A company that is responsible for the coordination and management of multiple supply chain activities on behalf of a client.
Lead logistics provider (LLP): A third-party logistics provider that assumes responsibility for the management of an entire supply chain.
Lead time: The amount of time between placing an order for goods and receiving them.
Lead time: The amount of time it takes for a product or service to be available after an order has been placed. Lead time can be influenced by a number of factors, including the production schedule, shipping times, and availability of raw materials, and is an important aspect of supply chain management, as it affects the availability of goods and services for customers.
Lead Time: The amount of time it takes to complete a process or receive a product, from start to finish.
Lead Time: The time between the placement of an order and the receipt of the ordered goods.
Lead Time: The time it takes for goods or materials to be manufactured or procured and delivered to customers, typically measured from the time of order to the time of delivery.
Lead Time: The time it takes to complete a process or produce a product, from start to finish.
Lead time: The time it takes to complete a process, from start to finish. In the context of supply chain management, lead time is often used to describe the time it takes to receive an order, produce a product, or transport goods from one location to another.
Lead Time: The time it takes to complete an entire process, from the moment an order is placed to the delivery of the final product to the customer.
Lead time: The time it takes to produce and deliver a product, from the moment an order is placed to the moment it is received by the customer.
Lean Manufacturing: A manufacturing philosophy focused on reducing waste, improving efficiency, and increasing customer value.
Lean Manufacturing: A philosophy and methodology for improving the efficiency and effectiveness of manufacturing operations, with a focus on reducing waste and increasing value to the customer.
Lean manufacturing: A philosophy and set of techniques for minimizing waste and maximizing efficiency in manufacturing operations.
Lean manufacturing: A philosophy of production that emphasizes the elimination of waste and the continuous improvement of processes.
Lean Manufacturing: A production approach that emphasizes waste reduction and efficiency improvements.
Lean Manufacturing: A production philosophy that emphasizes minimizing waste and maximizing efficiency in the production process.
Lean manufacturing: A production philosophy that emphasizes the elimination of waste, the continuous improvement of processes, and the efficient use of resources, in order to achieve higher levels of productivity and quality. Lean manufacturing is commonly used in supply chain management to reduce costs, improve efficiency, and increase customer satisfaction.
Lean manufacturing: A production philosophy that seeks to minimize waste and improve efficiency, by removing non-value-adding activities and processes.
Lean Supply Chain: A supply chain management approach focused on reducing waste, improving efficiency, and enhancing customer satisfaction, including the implementation of continuous improvement techniques and the elimination of non-value-added activities.
Lean Supply Chain: A supply chain management approach that aims to minimize waste, reduce lead times, and increase efficiency, through the implementation of Lean principles and practices such as continuous improvement, just-in-time production, and standardization.
Lean Supply Chain: A supply chain management approach that emphasizes efficiency, minimal waste, and streamlined processes to achieve maximum value for customers and stakeholders.
Lean supply chain: A supply chain management approach that emphasizes reducing waste and maximizing value, inspired by the principles of lean manufacturing.
Lean supply chain: A supply chain that is designed to minimize waste, reduce costs, and improve efficiency, by applying the principles of lean manufacturing.
Logistics outsourcing: The practice of outsourcing some or all of an organization’s logistics activities, such as transportation, warehousing, and distribution, to a third-party service provider.
Logistics: The planning, coordination, and execution of the transportation and storage of goods.
Logistics: The planning, execution, and control of the movement of goods from the point of origin to the point of consumption.
Logistics: The planning, implementation, and control of the movement of goods from the point of origin to the point of consumption.
Logistics: The process of planning, executing, and controlling the movement of goods and services from the point of origin to the point of consumption.
Logistics: The process of planning, implementing, and controlling the movement of goods and materials from the point of origin to the point of consumption.
Logistics: The process of planning, implementing, and controlling the movement of goods and services from the point of origin to the point of consumption.
Logistics: The process of planning, organizing, and managing the movement of goods, information, and people, in order to meet the needs of customers and other stakeholders. Logistics is an important aspect of supply chain management, as it involves the coordination of transportation, warehousing, inventory management, and other activities, in order to ensure the timely delivery of goods and services.
Make-to-Order (MTO): A manufacturing process where goods are only produced after a customer order has been received.
Make-to-order (MTO): A production strategy where goods are manufactured only after a customer has placed an order, rather than being produced in advance and held in inventory. Make-to-order is commonly used in supply chain management to reduce the risk of overstocking, improve inventory accuracy, and respond quickly to customer demand.
Make-to-order (MTO): A production strategy where goods are manufactured only after a customer order has been received.
Make-to-Stock (MTS): A manufacturing process where goods are produced and stored in anticipation of customer demand.
Make-to-stock (MTS): A production strategy where goods are manufactured in advance and held in inventory, in anticipation of customer demand. Make-to-stock is commonly used in supply chain management when demand for products is predictable and stable, and when the cost of holding inventory is relatively low.
Make-to-stock (MTS): A production strategy where goods are manufactured in advance and kept in stock, ready to be sold to customers.
Manufacturing Lead Time: The amount of time it takes to produce a product, from the moment an order is placed to the moment it is shipped.
Manufacturing Lead Time: The time it takes to produce a product from start to finish, including the time required for procurement of raw materials, production, and quality control.
Material Handling: The movement, protection, and storage of materials and products in a warehouse or manufacturing facility.
Material Requirement Planning (MRP): A software system that helps companies manage their inventory and production processes, by calculating the materials and components required for manufacturing and ensuring that there are adequate stock levels.
Material Requirement Planning (MRP): A system used in production planning and inventory management to determine the necessary materials, quantities, and delivery schedules required to meet customer demand.
Material requirement planning (MRP): A system used to manage the production and delivery of goods, by determining the materials and resources required for production, and scheduling the production process accordingly. MRP is an important tool in supply chain management, as it helps companies to coordinate their production and delivery processes, reduce costs, and improve the efficiency of their supply chains.
Material requirements planning (MRP): A software system that helps plan and manage the production of goods, by considering the availability of raw materials, production capacity, and customer demand.
Material Requirements Planning (MRP): A system that helps companies plan and manage the materials needed to produce a product or deliver a service.
Material requirements planning (MRP): A system that uses demand forecasts and inventory data to plan and schedule the production of goods.
Multi-Tier Supply Chain: A supply chain structure in which multiple tiers of suppliers are utilized, including primary suppliers, sub-suppliers, and sub-sub-suppliers, to meet the demands of a complex supply chain network.
Order Fulfillment: The process of delivering a customer’s order, including the picking, packing, and shipping of goods.
Order Fulfillment: The process of delivering a product or service to a customer, including receiving the order, picking and packing the products, and delivering the order to the customer.
Order Fulfillment: The process of delivering a product to a customer, including receiving the order, picking and packing the product, and shipping it to the customer.
Order Fulfillment: The process of delivering an order from a customer to the end-user, including receiving the order, picking the products, packing them, and shipping them.
Order fulfillment: The process of delivering goods to customers, including receiving and processing orders, picking and packing products, and arranging for shipping and delivery.
Order Fulfillment: The process of picking, packing, and shipping customer orders, including the management of inventory levels, the coordination of transportation, and the tracking of order status.
Order Fulfillment: The process of processing customer orders, including the selection of products, the packing of goods, and the delivery of goods to customers.
Order fulfillment: The process of receiving and processing customer orders, and delivering the ordered goods or services to the customer. Order fulfillment is an important aspect of supply chain management, as it involves the coordination of activities such as order processing, picking, packing, shipping, and returns, in order to meet customer demand and expectations.
Order Fulfillment: The process of receiving and processing customer orders, including the selection and shipment of products to customers, typically with the goal of meeting customer demand in a timely and cost-effective manner.
Order Fulfillment: The process of receiving, processing, and delivering an order to the customer.
Order fulfillment: The process of receiving, processing, and delivering customer orders.
Order fulfillment: The process of receiving, processing, and shipping customer orders.
Order Lead Time: The time it takes to complete an order, from the time it is received until it is shipped to the customer.
Order Management: The process of managing customer orders, including receiving and processing orders, managing inventory levels, and fulfilling orders.
Order Picking: The process of selecting and assembling the items needed to fulfill an order.
Order to cash (OTC): A business process that covers all activities involved in receiving an order from a customer, producing and delivering the goods or services, and collecting payment. Order to cash is an important aspect of supply chain management, as it involves the coordination of multiple departments and functions, including sales, marketing, finance, and logistics, in order to ensure the efficient and effective completion of customer orders.
Outbound Logistics: The process of managing the flow of goods and materials out of a company, including storage, transportation, and delivery to customers.
Outbound Logistics: The process of transporting goods from a facility to customers or distributors.
Outbound Logistics: The processes involved in the shipment of goods to customers, including the coordination of transportation, the tracking of inventory levels, and the management of outbound shipments.
Outsourcing: The practice of contracting out work to external suppliers, rather than performing it in-house.
Outsourcing: The practice of contracting with an external company to perform services or produce goods that are typically done in-house.
Outsourcing: The practice of contracting with an outside supplier to provide goods or services that are normally produced in-house.
Outsourcing: The practice of contracting with external suppliers to provide goods or services that are normally performed in-house. Outsourcing is commonly used in supply chain management to reduce costs, improve efficiency, and access specialized expertise, and is a common practice in areas such as logistics, production, and information technology.
Outsourcing: The practice of having an outside company perform a business function that was previously performed in-house.
Outsourcing: The practice of hiring an outside company to perform a business function, such as manufacturing or logistics, instead of performing the work in-house.
Outsourcing: The practice of hiring another company to perform a task or service that was previously done in-house.
Packaging Logistics: The process of designing, sourcing, and managing the packaging of products, with the goal of reducing waste, improving product protection, and reducing costs.
Packaging: The materials and methods used to protect, store, and transport a product, including boxes, bags, and wrapping materials.
Packaging: The process of preparing and wrapping a product for transport and delivery to the customer.
Performance measurement: The process of evaluating the efficiency, effectiveness, and impact of supply chain activities and processes, using a set of metrics and indicators. Performance measurement is an important aspect of supply chain management, as it helps companies to identify areas for improvement, set performance targets, and track their progress over time.
Performance measurement: The process of measuring and evaluating the performance of the supply chain in areas such as cost, speed, and quality.
Pick and Pack: The process of physically selecting and preparing individual products for shipment, usually performed in a warehouse or distribution center.
Pick and Pack: The process of selecting and preparing items for shipment, including picking items from inventory, packing them into boxes, and labeling the boxes for shipment.
Picking: The process of selecting items from inventory for shipment to customers.
Predictive Analytics: The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.
Predictive analytics: The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data. Predictive analytics is being used in supply chain management to improve decision-making, increase efficiency, and reduce costs.
Predictive analytics: The use of data, statistical algorithms, and machine learning to identify the likelihood of future outcomes based on historical data.
Predictive maintenance: The use of predictive analytics and IoT to identify when equipment is likely to fail, and to schedule maintenance before the failure occurs, in order to reduce downtime, increase efficiency, and reduce costs.
Predictive maintenance: The use of predictive analytics and machine learning to predict when equipment is likely to fail, so maintenance can be performed before a breakdown occurs.
Procurement Lead Time: The time it takes to procure goods or materials, typically measured from the time of order to the time of delivery.
Procurement Management: The process of managing the acquisition of goods and services, including the selection of suppliers, the negotiation of contracts, and the management of supplier relationships.
Procurement outsourcing: The practice of outsourcing some or all of an organization’s procurement activities, such as supplier selection and contract negotiation, to a third-party service provider.
Procurement: The process of acquiring goods and services from external sources.
Procurement: The process of acquiring goods and services from suppliers.
Procurement: The process of acquiring goods and services, including the identification of suppliers, the negotiation of contracts, and the management of supplier relationships.
Procurement: The process of acquiring goods or services from an external source.
Product Life Cycle Management: The management of a product from its conception through to its end-of-life, including the management of product design, development, launch, and phase-out.
Product Life Cycle: The stages a product goes through from development to discontinuation, including introduction, growth, maturity, and decline.
Product lifecycle management (PLM): A set of processes and systems used to manage the entire lifecycle of a product, from conception to retirement.
Product Lifecycle Management (PLM): A strategy for managing the entire lifecycle of a product, from ideation and design to retirement and disposal.
Production planning: The process of determining how, when, and where products will be manufactured.
Production Planning: The process of determining the production schedule for a product or group of products based on customer demand and available resources.
Production Planning: The process of determining the production schedule for a product, taking into account factors such as demand, capacity, and raw materials.
Production Planning: The process of determining what products should be manufactured, when they should be produced, and how many should be produced.
Production Planning: The process of determining what products to produce, how much of each product to produce, and when to produce them, in order to meet customer demand.
Production Planning: The process of determining when and how much of each product to manufacture, taking into account available resources, demand, and production constraints.
Production Planning: The process of planning and coordinating the production of goods, including the scheduling of production, the allocation of resources, and the management of production processes.
Production Planning: The process of planning and scheduling the production of goods, including the optimization of resources, the minimization of costs, and the delivery of goods on time and within budget.
Pull system: A type of inventory control system where goods are produced or delivered only in response to actual customer demand, rather than being produced in advance and held in inventory. Pull systems are commonly used in supply chain management to reduce the risk of overstocking, improve inventory accuracy, and respond quickly to changes in customer demand.
Purchasing: The process of acquiring goods or services from suppliers.
Push system: A type of inventory control system where goods are produced and delivered in advance of customer demand, based on sales forecasts or other projections. Push systems are commonly used in supply chain management when demand for products is predictable and
Quality Control: The process of monitoring and controlling the quality of products and services to ensure they meet customer requirements.
Quality Control: The process of monitoring and maintaining a certain level of quality in a product or service.
Quality management: The process of ensuring that goods and services meet specified quality standards and customer requirements.
Quality Management: The process of ensuring that goods and services meet specified quality standards, including the management of quality control processes, quality inspections, and quality certifications.
Quick response (QR) codes: Two-dimensional barcodes that can be scanned by smartphones to access information about a product or service.
Radio-frequency identification (RFID): A technology that uses radio waves to communicate with a device, such as a tag attached to a product, to identify and track it in the supply chain.
Real-time location system (RTLS): A system that uses GPS or other technologies to track the real-time location of goods or assets within a supply chain.
Real-time transportation management system (RTTMS): A software system that provides real-time information and analytics on the status of shipments, helping organizations to optimize their transportation operations.
Resilience: The ability of a supply chain to withstand disruptions and recover quickly from unexpected events, such as natural disasters, supply chain disruptions, and economic downturns.
Responsive supply chain: A supply chain that is designed to be highly agile and responsive to changes in demand, in order to improve customer satisfaction, reduce costs, and increase efficiency.
Return on investment (ROI): A measure of the return generated from an investment, calculated as the ratio of profit to investment cost.
Reverse auction: A type of auction where buyers bid against each other, to purchase goods or services from a single seller.
Reverse auction: A type of procurement process where suppliers compete to provide goods or services at the lowest price.
Reverse logistics: The process of managing the movement of goods and materials from the customer back to the manufacturer, or to another location in the supply chain.
Reverse Logistics: The process of managing the movement of goods and materials from the end customer back to the original supplier or manufacturer.
Reverse Logistics: The process of managing the movement of goods from the customer back to the manufacturer or supplier, including returns, repairs, and recycling.
Reverse logistics: The process of managing the movement of products that are returned or otherwise flow in the reverse direction of the traditional supply chain.
Reverse logistics: The process of managing the return of goods and materials from customers or end-users back to the supply chain.
Reverse logistics: The process of managing the return of goods and materials from customers to the original manufacturer, distributor, or supplier, in order to reduce waste, increase efficiency, and reduce costs.
Reverse Logistics: The process of managing the return of goods and materials from customers, including the collection, transportation, and processing of returns, with the goal of minimizing waste and maximizing the value of returned products.
Reverse Logistics: The process of managing the return of goods from customers or the recall of products from the market, including transportation, refurbishment, and disposal.
Reverse logistics: The process of managing the return of goods from customers, including returns, repairs, and recycling.
Reverse Logistics: The process of managing the return of goods, including the collection, transportation, and disposal of returned items.
Reverse Logistics: The process of managing the return of goods, including the coordination of transportation, the tracking of inventory levels, and the management of customer returns.
Reverse Logistics: The process of returning goods from customers to suppliers or manufacturers, including product recalls and returns.
Reverse Supply Chain: The flow of goods, materials, and information from the end consumer back to the original supplier, including the management of returns, refurbishment, and disposal.
Risk Management: The identification, assessment, and prioritization of risks throughout the supply chain, and the implementation of strategies to mitigate or manage those risks.
Risk Management: The process of identifying, assessing, and prioritizing risks in a supply chain, and developing strategies to mitigate those risks.
Route optimization: The process of selecting the most efficient route for the transportation of goods, taking into account factors such as distance, cost, and delivery time.
Safety Stock: A reserve of inventory that is maintained to reduce the risk of stockouts, taking into account factors such as lead time, demand variability, and delivery reliability.
Safety Stock: An extra amount of inventory kept on hand to ensure that stockouts do not occur during periods of unexpectedly high demand.
Safety stock: An inventory buffer to ensure that stock levels are maintained even in the event of unexpected demand or supply disruptions.
Safety Stock: Inventory that is held in reserve to ensure that a company can continue to meet customer demand in the event of a supply chain disruption.
Scheduling: The process of determining the timing and sequence of production and delivery activities.
Service level agreement (SLA): A contract between a service provider and a customer, that defines the level of service that the provider will deliver. In the context of supply chain management, SLAs often specify delivery times, order accuracy, and product quality.
Six Sigma: A data-driven methodology for improving business processes, by reducing defects and increasing efficiency.
Six Sigma: A data-driven methodology for improving processes and reducing defects, based on statistical analysis and the DMAIC (define, measure, analyze, improve, control) model.
Six Sigma: A methodology for improving the quality of products and processes, with a focus on reducing defects and improving customer satisfaction.
Six Sigma: A quality management approach focused on reducing defects and increasing efficiency in business processes.
Smart contract: A self-executing contract with the terms of the agreement directly written into lines of code, on a blockchain. Smart contracts are being used in supply chain management to improve transparency, increase trust, and reduce costs.
Smart Contracts: Self-executing contracts with the terms of the agreement directly written into lines of code, managed and stored on a blockchain network.
Social responsibility: The moral and ethical obligation of a company to consider the impact of its operations on society, the environment, and future generations, and to take action to minimize harm and maximize positive impact. Social responsibility is becoming an increasingly important aspect of supply chain management, as customers and stakeholders demand greater accountability and transparency.
Sourcing: The process of identifying and selecting suppliers for procurement.
Sourcing: The process of identifying and selecting suppliers to meet the needs of the supply chain, including the evaluation of supplier capabilities, the negotiation of contracts, and the management of supplier relationships.
Strategic sourcing: The process of evaluating and selecting suppliers based on strategic criteria, such as long-term cost, quality, and sustainability.
Supplier Management: The process of managing relationships with suppliers, including identifying and selecting suppliers, negotiating contracts, and monitoring supplier performance.
Supplier Management: The process of selecting, negotiating with, and managing relationships with suppliers to ensure the timely delivery of high-quality products and services.
Supplier Relationship Management (SRM): The management of relationships with suppliers, including the selection of suppliers, the negotiation of contracts, and the monitoring of supplier performance.
Supplier Relationship Management (SRM): The process of managing interactions between a company and its suppliers to optimize the value received from those relationships.
Supplier Relationship Management (SRM): The process of managing relationships with suppliers to ensure that they provide quality products and services at competitive prices.
Supplier Relationship Management (SRM): The process of managing relationships with suppliers, including the negotiation of contracts, the evaluation of performance, and the management of communications.
Supplier Relationship Management (SRM): The process of managing relationships with suppliers, including the selection, evaluation, and performance monitoring of suppliers, with the goal of improving supplier performance and ensuring the continued supply of goods and materials.
Supplier Relationship Management: The management of supplier relationships, including the evaluation of suppliers, the negotiation of contracts, and the monitoring of supplier performance.
Supply chain 4.0: The fourth generation of supply chain management, characterized by the integration of advanced technologies, such as AI, blockchain, and IoT, to create a more intelligent, responsive, and sustainable supply chain.
Supply Chain Analytics: The use of data analysis techniques to improve decision making and performance throughout the supply chain, including the identification of trends and patterns, the measurement of performance, and the optimization of processes.
Supply Chain Analytics: The use of data and analytics tools to gain insights into and improve the performance of a supply chain.
Supply Chain Collaboration: The collaboration between different companies in the supply chain to improve efficiency, reduce costs, and enhance customer satisfaction, including the sharing of information, joint planning, and joint problem-solving.
Supply Chain Collaboration: The cooperative working relationship between supply chain partners, including the sharing of information, the alignment of goals, and the coordination of activities.
Supply Chain Collaboration: The practice of working closely with suppliers, customers, and other partners in the supply chain to improve communication, coordination, and collaboration, with the goal of improving overall supply chain performance.
Supply Chain Compliance: The adherence to laws, regulations, and industry standards throughout the supply chain, including the management of ethical and social responsibility, product safety, and environmental impact.
Supply Chain Finance: The financing of supply chain activities, including the management of working capital, the optimization of cash flows, and the reduction of financial risks.
Supply chain finance: The use of financial instruments, such as factoring, reverse factoring, and supply chain financing, to improve cash flow and working capital, reduce costs, and increase efficiency in the supply chain.
Supply chain finance: The use of financial instruments, such as letters of credit and factoring, to manage the flow of goods and money in the supply chain.
Supply Chain Finance: The use of financial tools and techniques to improve the flow of funds and manage the financial risks throughout the supply chain, including the use of supply chain financing, trade financing, and payment risk management.
Supply Chain Integration: The coordination and collaboration between different entities in a supply chain, such as suppliers, manufacturers, distributors, and retailers, to improve efficiency and effectiveness.
Supply chain management (SCM): The coordination and management of activities involved in the production and delivery of a product or service.
Supply Chain Management (SCM): The coordination and management of all activities involved in the production and delivery of a product or service, from the procurement of raw materials to the delivery of the final product to the customer.
Supply Chain Management: The coordination and management of all activities involved in the production and delivery of a product or service, from the sourcing of raw materials to the delivery to the end-user.
Supply Chain Management: The coordination and management of the various entities involved in the supply chain, including procurement, production, transportation, and distribution.
Supply Chain Optimization: The optimization of supply chain processes to improve efficiency, reduce costs, and enhance customer satisfaction, including the optimization of inventory levels, transportation routes, and production schedules.
Supply Chain Optimization: The process of improving the efficiency and effectiveness of the entire supply chain, from suppliers to customers.
Supply chain optimization: The process of improving the efficiency and effectiveness of the supply chain through the use of data analysis, modeling, and other tools.
Supply Chain Optimization: The process of improving the efficiency and effectiveness of the supply chain, including the elimination of waste, the reduction of costs, and the improvement of customer service.
Supply Chain Optimization: The process of improving the efficiency and effectiveness of the supply chain, typically through the use of advanced analytics and decision-making tools, with the goal of reducing costs, improving service levels, and increasing overall profitability.
Supply Chain Optimization: The process of improving the efficiency and effectiveness of the supply chain, with a focus on reducing costs, improving service levels, and increasing customer satisfaction.
Supply Chain Optimization: The process of improving the efficiency and effectiveness of the supply chain, with the goal of reducing costs and improving customer service.
Supply Chain Planning: The process of developing and coordinating plans for all supply chain activities, including production, inventory management, transportation, and customer service.
Supply chain resilience: The ability of a supply chain to withstand disruptions and continue operating effectively.
Supply Chain Risk Management (SCRM): The systematic approach of identifying, assessing, and mitigating the risks associated with the supply chain operations.
Supply Chain Risk Management: The identification and mitigation of risks throughout the supply chain, including the management of uncertainty, the mitigation of disruptions, and the development of contingency plans.
Supply chain risk management: The identification, assessment, and prioritization of potential risks in the supply chain, and the development of strategies to minimize the impact of those risks, in order to reduce costs, increase efficiency, and improve customer satisfaction.
Supply Chain Risk Management: The management of risks in the supply chain, including the identification of potential risks, the assessment of risk impact, and the implementation of risk mitigation strategies.
Supply chain risk management: The process of identifying and mitigating potential risks that could disrupt the supply chain.
Supply Chain Risk Management: The process of identifying and mitigating potential risks throughout the supply chain, including risks related to suppliers, transportation, logistics, and other key components of the supply chain.
Supply Chain Risk Management: The process of identifying and mitigating risks in the supply chain, including the management of operational, financial, and strategic risks, with the goal of ensuring the continuity of the supply chain and protecting against disruptions.
Supply chain security: The measures taken to protect the supply chain from security threats, such as theft, counterfeiting, and terrorism.
Supply chain security: The measures taken to protect the supply chain from threats such as terrorism, theft, fraud, and cyber attacks.
Supply chain sustainability: The integration of environmental, social, and governance (ESG) considerations into the design and operation of the supply chain, in order to reduce waste, increase efficiency, and improve customer satisfaction.
Supply Chain Sustainability: The practice of designing and operating supply chains that are economically, socially, and environmentally sustainable, with a focus on reducing waste, conserving resources, and protecting the environment.
Supply chain visibility: The ability to see and track the movement of goods and materials throughout the supply chain.
Supply Chain Visibility: The ability to track and monitor the flow of goods and materials throughout the supply chain, including the ability to access real-time data and information about suppliers, inventory levels, transportation, and customer demand.
Supply chain visibility: The ability to track and monitor the flow of goods, information, and finances throughout the supply chain.
Supply chain visibility: The ability to track the movement of goods and materials through the supply chain, in real-time, in order to improve decision-making, increase efficiency, and reduce costs.
Supply Chain Visibility: The capability of having real-time information about the entire supply chain network, including suppliers, manufacturers, distributors, and customers.
Supply Chain: The interconnected network of entities involved in the production, transportation, and delivery of goods, including suppliers, manufacturers, distributors, and retailers.
Supply Planning: The process of forecasting the supply of goods and materials and using that information to plan and coordinate the supply chain.
Sustainability: The ability of a supply chain to operate in an economically, socially, and environmentally sustainable manner, meeting the needs of the present without compromising the ability of future generations to meet their own needs.
Sustainability: The ability to meet the needs of the present without compromising the ability of future generations to meet their own needs. In the context of supply chain management, sustainability refers to practices that minimize the environmental impact of the supply chain, promote fair and ethical business practices, and support the long-term viability of the supply chain.
Sustainable supply chain management: The integration of sustainability practices into the management and operation of the supply chain.
Sustainable Supply Chain: A supply chain management approach focused on the triple bottom line of economic, social, and environmental sustainability, including the adoption of sustainable practices and the reduction of waste and emissions.
Synchronized supply chain: A supply chain where activities are planned and executed in a coordinated manner to minimize waste, reduce costs, and improve efficiency.
Third-Party Logistics (3PL) Provider: A company that provides logistics services such as transportation, warehousing, and distribution to customers, typically on a contract basis.
Third-Party Logistics (3PL): A third-party service provider that manages the storage, transportation, and delivery of goods on behalf of a company.
Third-Party Logistics (3PL): The use of an outside company to perform all or part of a company’s logistics functions, including transportation, warehousing, and distribution.
Third-party logistics (3PL): The use of external companies to provide logistics and supply chain management services.
Total cost of ownership (TCO): A calculation of the total cost of a product or service over its entire lifecycle, including all direct and indirect costs, such as procurement, transportation, storage, handling, and disposal.
Total Cost of Ownership (TCO): A calculation of the total costs associated with acquiring, owning, and disposing of a product or service, including direct and indirect costs.
Total Cost of Ownership (TCO): A comprehensive approach of evaluating the cost of a product, taking into account all the expenses associated with acquiring, operating, and disposing of it.
Total Cost of Ownership (TCO): A comprehensive assessment of the costs associated with a product or service, including direct and indirect costs, such as production costs, transportation costs, and maintenance costs.
Total Cost of Ownership (TCO): A financial estimate that includes all the costs associated with owning and using a product, including purchase price, maintenance, and disposal costs.
Total cost of ownership (TCO): A measure of the total cost of acquiring, owning, and disposing of a product or asset, including direct and indirect costs.
Total cost of ownership (TCO): An analysis that calculates the total cost of a product or service over its entire life cycle, including acquisition, maintenance, and disposal costs.
Total Cost of Ownership (TCO): An estimate of the full cost of a product or service, including all direct and indirect costs, such as purchasing, storage, transportation, and disposal costs.
Total cost of ownership (TCO): The total cost of a product or service, including all direct and indirect costs incurred over its life cycle.
Total landed cost: The total cost of a product, including all expenses incurred to transport it from the manufacturer to the customer, including duties, taxes, and other fees.
Total quality management (TQM): A management approach that seeks to optimize the quality of all processes, products, and services in the supply chain, by continuously improving processes, reducing waste, and increasing customer satisfaction.
Total quality management (TQM): A management philosophy that emphasizes the continuous improvement of all processes in an organization, with the goal of satisfying customer requirements.
Total quality management (TQM): A management philosophy that seeks to improve the quality of goods and services, by involving all employees in a continuous improvement process.
Total Quality Management (TQM): A philosophy and methodology for improving the quality of products and processes, with a focus on continuous improvement and customer satisfaction.
Traceability: The ability to track the movement of goods and materials through the supply chain, from the original source to the end customer, in order to improve transparency, reduce waste, and increase efficiency.
Traceability: The ability to track the origin and movement of goods and materials through the supply chain.
Trade compliance: The process of ensuring that an organization’s trade activities are in compliance with laws, regulations, and trade agreements.
Transfer pricing: The method used to determine the price of goods or services between units of an organization that operate in different locations or countries.
Transportation Cost Management: The process of managing the cost of transportation within the supply chain, including the optimization of routes, carrier selection, and shipment consolidation, with the goal of reducing transportation costs and improving efficiency.
Transportation Management System (TMS): A software solution that helps companies plan, execute, and monitor the movement of goods and materials throughout the supply chain, including the optimization of transportation routes, carrier selection, and shipment tracking.
Transportation Management System (TMS): A software system used to plan, execute, and monitor the movement of goods from one place to another, including choosing the most cost-effective and efficient shipping methods and routes.
Transportation Management: The management of transportation activities, including the optimization of transportation routes, the coordination of shipments, and the management of transportation costs.
Transportation Management: The planning and coordination of the movement of goods from one location to another, including the selection of carriers and routing.
Transportation management: The process of planning, coordinating, and executing the movement of goods and materials from one location to another, in order to reduce costs, increase efficiency, and improve customer satisfaction.
Transportation Management: The process of planning, executing, and controlling the movement of goods and services from one place to another.
Transportation Management: The process of planning, executing, and controlling the movement of goods from one location to another, including the management of carriers, transportation modes, and transportation costs.
Transportation: The movement of goods from one place to another, including air, rail, road, and sea transportation.
Transportation: The movement of goods from one place to another, including the modes of transportation used (e.g. truck, rail, air, sea).
Value Chain Analysis: The analysis of the activities that contribute to the creation of value for a product or service, including the identification of inefficiencies, the optimization of processes, and the enhancement of customer satisfaction.
Value Chain: The sequence of activities involved in the creation of a product, from the sourcing of raw materials to the delivery of the final product to the customer.
Value Stream Mapping: A graphical representation of the flow of materials, information, and value-adding activities in a production process, used to identify areas for improvement.
Value stream mapping: A tool for analyzing and optimizing the flow of materials and information in a supply chain.
Value stream mapping: A tool used to visualize the flow of materials and information in a supply chain, from the suppliers to the customer.
Value-Added Services (VAS): Services provided by a logistics provider beyond basic transportation and storage, such as packaging, assembly, and labeling.
Vendor Managed Inventory (VMI): A supply chain management approach in which the supplier is responsible for managing the inventory levels at the customer’s location, including the monitoring of inventory levels, the forecasting of demand, and the scheduling of deliveries.
Vendor Managed Inventory (VMI): A system in which a supplier manages the inventory levels of a product at the customer’s location, based on agreed-upon parameters and targets.
Vendor Managed Inventory (VMI): An inventory management approach where the supplier/manufacturer manages and controls the inventory levels of the products at the customer’s location.
Vendor managed inventory (VMI): An inventory management model where the supplier is responsible for managing the inventory levels of a customer’s products.
Vendor Managed Inventory (VMI): An inventory management strategy in which a supplier is responsible for managing the inventory levels of a customer.
Vendor Managed Inventory: An inventory management model in which the supplier is responsible for the management of inventory levels, including the replenishment of stock, the tracking of inventory levels, and the optimization of inventory turns.
Vendor-managed inventory (VMI): A process where a supplier is responsible for managing the inventory of its products at a customer’s location.
Vendor-managed inventory (VMI): An inventory management strategy where the supplier manages the inventory levels at the customer’s location, and is responsible for replenishing stock as needed.
Visibility: The ability to track and monitor the flow of goods, materials, and information throughout the supply chain, in real-time or near real-time.
Visibility: The ability to track the location and status of goods in the supply chain, including the ability to view real-time information about inventory levels, shipping status, and delivery times.
Warehouse Management System (WMS): A software solution that helps companies manage the storage and movement of goods and materials within a warehouse, including the optimization of storage space, inventory control, and order fulfillment.
Warehouse management system (WMS): A software system that helps manage the operations of a warehouse, including receiving, storing, and shipping goods.
Warehouse management system (WMS): A software system that is used to manage and optimize the operations of a warehouse, including inventory management, order fulfillment, and space utilization.
Warehouse Management: The management of warehousing activities, including the receipt and storage of goods, the organization of inventory, and the shipment of goods to customers.
Warehouse Management: The process of managing the storage, movement, and distribution of goods and materials within a warehouse, including the management of inventory levels, storage space, and material handling equipment.
Warehouse management: The process of planning, organizing, and controlling the storage and movement of goods and materials within a warehouse, in order to reduce costs, increase efficiency, and improve customer satisfaction.
Warehousing: The process of storing goods in a warehouse, including receiving, storage, and distribution.
Warehousing: The storage and management of goods in a facility designed for that purpose.
Warehousing: The storage of goods in a warehouse or distribution center, including receiving, storing, and shipping goods.
WIP (Work-in-Process): A term used to describe goods that are in the process of being manufactured, but have not yet been completed or shipped.
WIP (Work-in-Progress): The unfinished goods or partially completed goods in the manufacturing process that have not yet reached the finished product stage.
Work in process (WIP): The goods and materials that are in the process of being manufactured, but have not yet been completed or shipped to the customer. WIP inventory is an important metric in supply chain management, as it indicates the efficiency of the production process and the level of resources being invested in production.
Work in progress (WIP): The inventory of unfinished goods that are being produced, but have not yet been completed.
Workflow Management: The process of managing and coordinating work activities and tasks within a company, including the automation of tasks, the routing of work, and the tracking of progress.
Yard Management System (YMS): A system used to manage and control the movement and storage of trailers, containers, and vehicles within a yard or terminal.
Yard Management: The management of a yard or outdoor storage area, including the organization of vehicles and containers, the tracking of inventory levels, and the coordination of loading and unloading activities.
Yard Management: The management of truck and trailer movements within a distribution center or manufacturing facility, including the coordination of loading and unloading activities, the tracking of inventory, and the optimization of yard space utilization.
Yard Management: The process of managing the movement and storage of trailers, containers, and vehicles within a yard, typically at a port, warehouse, or distribution center.
Yield Management: The process of adjusting prices for products or services in real-time based on supply and demand, in order to maximize revenue.
Yield management: The process of optimizing the allocation of limited resources, such as inventory, transportation, and production capacity, in order to maximize revenue and profits, while minimizing waste and costs. Yield management is a key aspect of supply chain management, as it helps companies make better use of their resources and improve the efficiency of their operations.
Yield management: The process of optimizing the allocation of limited resources, such as transportation capacity, to maximize their value.
Yield management: The process of optimizing the use of resources, such as production capacity, labor, and materials, to maximize profits and reduce costs.
Zero-based budgeting: A budgeting approach where all expenses must be justified and approved from scratch, rather than being based on the previous year’s budget. In supply chain management, zero-based budgeting can be used to improve cost management and reduce waste, by forcing managers to re-evaluate and justify all expenditures.
Zero-Based Budgeting: A budgeting method in which all expenses must be justified for each new budget period, regardless of whether they were incurred in the prior period.
Zones: Geographic areas or territories used for the purpose of distribution or transportation management, often used to help determine shipping costs and transit times.
Zones: In logistics and supply chain, the term “zones” refer to geographical areas used to simplify the process of defining shipping and transportation routes, delivery schedules, and shipping charges.