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P thru Z Trucking & Logistics Glossary
Partial Alliances Limited financial investments with suppliers, distributors, or customers designed to achieve revenues for all members of the alliance.
Point-of-Sale Information (POS) Price and quantity data from the retail outlet as sales transactions occur, reflecting the actual consumption of specific items.
Process Mapping The drawing out of the process steps involved in a particular portion of a supply chain or the totality of the supply chain network, with particular depiction of the hand-off that occurs between members of the supply chain.
Project Logistics Specific internal warehouse, transportation, or distribution projects.
Purchasing The functions associated with acquiring the goods and services a firm needs to operate its business.
Quick Response A method of maximizing supply chain efficiency by rapidly responding to specific orders with the correct amount of product drawn from a minimized inventory.
Ragtops A type of trailer in the form of a large box open at the top, on top of which a canvas is spread to protect the cargo from outside elements. They are primarily used for large, bulky bales, boxes, loose materials, nursery stock shipments, and some grains.
Reefer A refrigerated, insulated semi-trailer that required maintained, pre-determined temperatures controlled by a temperature control unit located in front of the trailer. Reefer units come in varying sizes from 30' to 53' in length. Reefer's are also considered specialized equipment since most can be separated into two to three sections (frozen, refrigerated, and dry area sections). Mainly used for perishable item transport.
Reengineering A fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in performance.
Reverse Logistics The process of collecting, moving, and storing used, damaged, or outdated products and/or packaging from end users. Safety Stock - The inventory a company holds beyond normal projected needs, as a buffer against delays of receipts of orders or changed in customer buying patterns.
Round Trip also called "round robin" a round trip is where a driver moves a load to a point, reloads at that point, and returns with a load back to the original point of pickup. Round trip loads are usually priced at a discount since the driver does not incur any deadhead cost once he delivers.
Sourcing The methodology involved in procuring the necessary materials, supplies, and services necessary to sustain a supply chain system.
Stepdeck also referred to as "dropdeck" is a type of trailer that is similar to a flabed but has one built in step to the deck to provide the capabilities of loading higher dimensional freight on the lower deck. Stepdecks can usually load a commodity as high as 10' tall without being over the 13''6" height regulation and still load up to 45,000 lbs. Most trailers have either 8 ft on the top deck with 40 ft on the bottom deck or 11 ft on top and 37' on bottom. These trailers are known for hauling specialized equipment/machinery.
Stock-keeping Units (SKU) A single unit of a manufacturer's line of products, such as a particular gauge of steel coil or type of lumber.
Stop-Off(s) Additional drops a driver makes before final destination to create full load. Stop-off charges vary from $25 to $75 per stop depending on requirement plus any additional out-of-route miles the driver incurs.
Supply Chain The core business processes that allow a company to create and deliver a product or service from concept through development and manufacture or conversion into a market for consumption.
Supply Chain Management (SCM) The methods, systems, and leadership that continuously improve an organization's integrated processes for product and service design, purchasing, inventory management, manufacturing, or production, order management, logistics, distribution, and customer satisfaction. Implementing SCM principles involve such techniques as working with suppliers to optimize the cost of supply, introducing flexible manufacturing strategies and systems, and using process redesign to streamline systems.
Supply Chain Optimization The development of the lowest-cost and most effective system of supply chain interaction through sharing of best practiced between constituents, resulting in virtually no waste across the network and above-industry levels of customer satisfaction.
Supply Chain Network The linkage of business firms into a concerted effort to apply mutual resources for achieving mutual benefits across the full supply chain system, from primary raw materials through consumption and recycling. Firms might be part of several such networks.
Supply-Demand Linkage The connection of a demand chain (forecasted buying patterns modified by the flow of incoming orders) with a supply chain (flow of products and services in response to actual orders), whereby replenishment is in response to actual pull-though consumption.
Tankers A type of trailer in the shape of a large tank that is designed to handle liquid and dry bulk product. Some tankers are gravity fed through a top dome lid and emptied through a center or rear valve, while others are pumped or fed pneumatically. Most outside shells of tankers are made out of aluminum or stainless steel. Tankers mainly haul food grade products (juices, milk, sugar, syrup, etc) chemicals, refined products (gas, diesel etc), asphalt, and dry bulk (grain, flour etc).
Third-Party Logistics Provider (3PL) A firm that supplies logistics services (particularly transportation and warehousing) to other companies.
Total Quality Management (TQM) A management approach in which managers constantly communicate with all organizational stakeholders, to emphasize the importance of continous quality improvement and total elimination of waste.
Upstream The processes that occur before manufacturing or conversion into a deliverable product or service, usually dedicated to getting raw materials from suppliers.
Value-Based Metrics Measurements that catalog the network's ability to optimize total systems cost, while delivering the highest possible customer satisfaction.
Value Chain The result of transforming a full supply chain system through the application of activity-based costing techniques, into a process map that includes all significant costs at each step in the process. This determines the total cost of delivering the final product or service to a satisfied customer.
Value Chain Constellation A consortium of companies linked together to build a superior supply chain network with a focus on specific markets, customers, products, and end consumers. The purpose of the constellation is to use collective assets and resources to build a seamless network of supply that will distinguish the network from any competing group.
Variable Cost A cost that flucuates with the volume of business.
Vendor-Managed Inventory (VMI) A customer service strategy used to manage inventory for customers to reduce cost and react more directly to customer demand.
Virtual Inventory Systems An online network in which one can find the location of inventory anywhere in the entire supply chain network (in manufacturing, warehouses, or in transit) and divert it, if necessary.
Work-In-Process (WIP) Parts and subassemblies in the process of becoming completed assembly components.
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