This glossary compiles common terms utilised in the logistics sector, aiming to simplify the complexities of the logistics realm for you.
A supply chain control tower is a centralised platform that provides real-time visibility and control across the entire supply chain. It integrates data using technologies like AI and IoT to predict disruptions and optimise operations. This article explains how it works and the benefits it brings to businesses.
A cold chain is a supply chain for perishable, temperature-sensitive items like fresh produce, meat, dairy, seafood, chemicals, pharmaceuticals, flowers, and wine.
In logistics, a carrier is a company or individual responsible for transporting goods or passengers within the supply chain, ensuring timely delivery and optimal efficiency. Carriers can operate across various modes of transportation, including road, rail, air, and sea.
Carrier management involves the strategic selection, negotiation, and continuous evaluation of the companies that transport goods for businesses.
Detention fees in logistics are charges for holding a carrier's equipment, like containers or trailers, beyond the allowed time for loading or unloading. These fees compensate the carrier and encourage timely handling of goods.
Fourth Party Logistics (4PL) involves outsourcing the entire supply chain management, including strategy, sourcing, planning, and execution, to an external provider.
Inbound logistics refers to the management and movement of goods, materials, products, and information from suppliers to warehouses or production facilities.
Less Than Truckload (LTL) is a shipping method where shipments from multiple customers are combined in one truck, optimizing space and reducing shipping costs.
Omnichannel logistics refers to a sophisticated approach to managing and executing order fulfillment across multiple sales channels.
Reverse logistics in supply chain management involves moving goods from their final destination back to the manufacturer or distribution point for returns, recycling, refurbishment, or disposal.
Real-time inventory tracking continuously updates stock levels across sales channels and warehouses, providing an accurate, up-to-the-minute count as orders are placed and inventory is received.
In logistics, a shipper is any individual or company that sends goods from one place to another. This term is broadly used to describe the party responsible for initiating the shipment of products, often the seller or manufacturer.
Third Party Logistics (3PL) outsources supply chain and logistics services like transportation, warehousing, inventory management, and order fulfillment to an external provider.
Warehouse slotting is the strategic placement of inventory within a warehouse to enhance efficiency and optimize order picking. It involves organizing products based on demand, size, and picking frequency to improve processes, streamline operations, and reduce labor costs.
In logistics and supply chain management, the warehouse yard is the operational space for storing and transporting goods.
Yard visibility in supply chains means tracking and monitoring assets in real-time within a yard. It’s essential for efficiency and operational control. In this article, we’ll explore key technologies, practical applications, and benefits of enhanced yard visibility.
