What Is A Vendor? Logistics Terms And Definitions

Chargeback— A deduction from a vendor’s invoice for the amount of product returns, which may happen without the vendor’s authorization. Cannibalization of Demand— When the sales of the secondary market or “B” channel reduce the sales in the primary or “A” channel. Our customers have access to a broad network of industry partnerships, EDI connections, retailer relationships, ERP, and ecommerce integrations. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Investopedia does not include all offers available in the marketplace.

  • SKUs are used to track inventory levels, manage orders, and provide real-time visibility into stock levels.
  • Avoidable Cost Part of the cost of an activity that could be saved by not performing that activity.
  • Slope of Enlightenment More instances of how the technology can benefit the enterprise start to crystallize and become more widely understood.
  • Tarping is often a requirement for transporting certain types of cargo, such as construction materials, machinery, or vehicles.
  • 1) Common term indicating movable property, merchandise, or wares.
  • Value Stream Mapping Lean technique mapping, analysing and improving the steps and data flow required to deliver a service or a product from end to end.
  • A vendor purchases products and services and resells them to clients.

A freight broker is required to obtain a license in order to make freight shipping arrangements on behalf of a person or company. The broker determines the needs of the client, has experience in the industry and negotiates shipping rates with a carrier who can meet a client’s requirements. Workflow is not an industry word, although it is used across all businesses and fields. Whether in logistics, sales, or manufacturing, a well-organized, regulated, and meticulously planned workflow is essential for reducing mistakes and identifying their causes. A workflow management system generates work process coordination in bigger groups, ensuring better clarity in planning, resource needs, and cost computation. A warehouse receipt is a document that lists the items that have been placed at the warehouse.

Outbound Logistics

An XML message used to exchange data between enterprises or enterprise applications. The BOD is composed of a noun, which identifies the message content, and a verb, which identifies the action to be taken with the document. The unique combination of the Noun and https://kelleysbookkeeping.com/ the Verb forms the name of the BOD. For example, noun ReceiveDelivery combined with verb Sync results in BOD SyncReceiveDelivery. The location used mainly for large inbound quantities and/or containers and to indicate from which pick locations can be replenished.

What Is A Vendor? Logistics Terms And Definitions

Furthermore, the dispatcher uses a transport management system to track the flow of products and optimize the fleet. A Delivery Note is a written document that explains the contents of a shipment. The paperwork includes a list of the items as well as the total value of the shipment.

Top 10 Supply Chain Buzzword Terms and Definitions

A warehouse facility which holds inventory from manufacturing or another warehouse before it’s distributed to the appropriate retail locations. Process of shipping direct from a manufacturer’s plant or distribution center to the customer’s retail store, thus bypassing the customer’s distribution center. What Is A Vendor? Logistics Terms And Definitions The carrier charges and fees applied when rail freight cars and ships are retained beyond a specified loading or unloading time. The act of interpreting numbers to find meaning about specific processes within a warehouse. The party who originates a shipment of goods , often times the seller.

  • Requirement The needs and wants of business groups, business units or users who consume the goods or services that are procured.
  • With Ex Works, the buyer bears all risk and costs starting when the goods are made available to the buyer at the seller’s location or other named place until the products are delivered to its location.
  • The movement and storage of raw materials from supply sources to the manufacturing facility.
  • ABC Inventory Control – A type of selective inventory management that suggests that inventories of an organization are not of equal value and should therefore be treated differently.
  • The majority of reusable pallets are constructed of wood or plastic.
  • For example, a buyer may negotiate a rate card that has hourly rates for software developers and/or project managers.

This is generally done at a marine terminal or storage facility after the container has been previously grounded. A process in which cargo is pulled from the terminal or port prior to the vessel’s arrival. Pre-pulling helps to reduce congestion and wait times at the terminal or port. Operating authority is the legal permission or authority granted by a government agency to a motor carrier, allowing them to operate commercial vehicles on public roads.

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