E thru O Trucking & Logistics Glossary
e-Business The use and application of electronic commerce models and techniques to improve internal and external processes that impact on the creation, manufacture, storage, and delivery of products across a full supply chain system.
e-Commerce The use of computer-to-computer technology to transfer information important to the buying, manufacture, selling, distribution, servicing, and accounting processes inherent in supply chain activities.
e-Networks The system of collaborating firms, linked electronically across a full supply chain system, so the business customer or final consumer perceives that a seamless system of response is at work delivering the desired goods and services.
e-Supply Chain Systems designed to create the necessary Internet-enabled links among data, communications, and network effectiveness.
Economic Value Added (EDA) The calculation of real return on assets employed.
Economic Data Interchange (EDI) Computer-to-computer communications between two or more companies so such entities can enter purchase orders, generate bills of lading, expedite orders, and most commonly, pay invoices. EDI enables a firm to access the information systems of suppliers, customers, and carriers and to determine the current status of inventory, orders, and shipments.
Enterprise-Wide Resource Planning (ERP) An advanced planning and scheduling system through which orders are entered directly into the company's planning systems, and manufacturing is coordinated to take advantage of full systems integration, from material supply through final goods production. Various systems will include a menu of possible applications.
Exclusive Use a common option in shipper where a shipper will request exclusive use of a truck - meaning that their freight is the only freight on the truck from origin to final destination.
Extranet A network based on Internet technologies that provides private and proprietary connections. Computer-to-computer technology between external partners to a supply chain network is used to transfer information important to the buying, selling, manufacture, distribution, and accounting processes inherent in the supply chain activities.
Fill Rate The percentage of ordered items that are completely delivered in one shipment.
Finished Goods Inventory (FGI) The products ompletely manufactured, packaged, stored, and prepared for distribution to a business customer or end consumer.
Fixed Cost/Expenses Costs that do not flucuate with the volume of business in the short term.
Flatbed flatbeds are trailers that are flat and solidly built to handle heavier and bulkier loads like metal, equipment, and machinery. Flatbeds come in varying sizes - Lengths: 42' to 53', Widths: 96" to 102", and most can handle up to 48,000 lbs. Flatbeds are usually equipped with chains & binders, straps, tarps, and even sometimes ramps to haul cars, utility vehicles, and miscellaneous machinery.
Forecasting A prediction of future levels of business commerce, particularly in items of anticipated volumes of product orders, demanded by customers in a specific time unit (week, month) in a forthcoming time period (quarter, year).
Full Truckload (TL or FTL) a full truckload is one with a total weight of 30,000 lbs or more and takes up 30' or more of the trailer's deck.
Information Systems (IS) Managing the flow of data within an organization and between its external partners in a systematic, structured, and effective manner, to assist in planning, implementing, and controlling all of the process involved.
Information Technology (IT) The systems, procedures, software, and hardware involved in establishing an effective and leading-edge methodology for enabling a total supply chain network of response - from incoming materials through delivery and satisfaction with finished goods and services.
Integrated Enterprise Resource Planning (I-ERP) The integration of ERP systems across a full value chain (manufacturer > distributor > logistics provider > contractor > end-user), whereby the network constituents share demand and supply information to optimize the use of total assets and achieve above-industry average standards of customer satisfaction.
Intranet A private network based on Internet technologies that provides an inexpensive electronic network, through which a nucleus organization and its internal constituents are given access to priviledged information permitting them to add value to supply chain processing.
Inventory Management Administering the amount of inventory and safety stocks required to meet or exceed current actual customer demands. This process includes proper planning, adequate stock positioning, monitoring of stock levels, and ensuring of product availability at the point of need to meet current demand.
Just-In-Time Inventory Systems (JIT) An inventory control system that reduces inventory levels by coordinating demand and supply to the point where the correct amounts of the desired items arrive just in time for use.
Kitting The process through which individual items are grouped or packaged to create a single shipment.
Layover A delay preventing a driver from unloading as scheduled at destination or loading at scheduled origin. Carriers charge anywhere from $50 to $150 per layover (24 hour period).
Less-Than-Truckloads (LTL) loads weighing less than 30,000 lbs and taking up less than 30' of deckspace on the trailer. LTL's are significantly cheaper in price ranging from $.50/mile to $1.00/mile depending on the characteristics of the partial load. LTL's are usually combined to make up a full truckload using multiple resources (other customers, brokers, or competing carriers). LTL shipments using a truckload carrier usually takes up to 4-10 days to deliver so that carrier can fill out the rest of the trailer.
Logistics The process involved in transferring goods through manufacture, storage, and transportation to business customers and end consumers.
Logistics Channel The network of intermediaries engaged in the transfer, storage, handling, and communications that contribute to the efficient flow of goods to customers.
Materials Requirement Planning (MRP) A decision-making technique used to determine how much material to purchase and when to purchase it, so it meets the needs of the manufacturing plan.
Network-Focused Metrics Measurements that are based on the performance of the entire supply chain network - from raw materials to end consumer - such as total cycle time or returns from the entire chain.
Order Cycle Time The time that elapses from placement of order until receipt of order, including time for order transmittal, processing, preparation, and shipping.
Order Fulfillment The process involved in receiving and entering orders, passing the orders through planning, and scheduling and completing delivery of the orders after manufacture.
O, S,&D Is a term pertaining to a load that means "over, short or damaged".
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