17 Common Warehouse Management Terms and Definitions

Used together like the location master file to control material transport operations. A fulfillment services provider is an organization that operates on behalf of a business to receive delivery of stock from their suppliers, store inventory, and fulfill customer orders. May also be referred to as a fulfillment house, fulfillment company, or a 3PL.

  • Online storefront features that consolidate all goods a user was considering purchasing into a single order.
  • Order Cycle – The time and process involved from the placement of an order to the receipt of the shipment.
  • Account-Specific Pricing — Customer-specific pricing, or account-specific pricing, refers to an agreement between a vendor moving product and a carrier or 3PL that establishes custom prices.
  • Zone Picking – A method of subdividing a picking list by arrears within a storeroom for more efficient and rapid order picking.
  • An ultimate consignee is the party who will be the final recipient of a shipment.
  • Pallet truck may also be referred to as a pallet pump, pump truck, or pallet jack.

Distributor — A third-party that purchases products to resell to a retailer. Delivery Appointment — The agreed-upon time of arrival What Is A Vendor? Logistics Terms And Definitions for a transported order. Customs Broker — A third-party entity that assists vendors to deal with import or export customs.

Key Transportation Terms and Definitions in Logistics

A document which indicates the consignor, consignee, mark, package number, quality, quantity, weight, cargo declaration number and other particulars of goods being transported. A waiver is a shipping document required when moving products to or through nations in Central and Western Africa. Visibility in this context refers to the ability to view comprehensive information on various processes within a supply chain. A tender is a formal proposal or request made to suppliers by a business or, in certain cases, the government. In general, a tender is a request for vendors to bid on the delivery of a particular project, product, or service.

A document used to approve, track, and process outbound customer shipments. A form of wireless communications that lets users relay information via electromagnetic energy waves from scanner to computer. When combined with a barcode system of identifying inventory items, a radio frequency system can relay data instantly, thus updating inventory records in real-time. A purchase order is a document that is sent from a buyer to a supplier requesting an order for merchandise.

Bonded Warehouse

An optional document that conveys specific instructions from exporters to their agents (usually freight forwarders), for ocean and air shipments. Think of it as a letter that tells the agent/forwarder how and where they need to send products. A document that establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified charge. Usually prepared by the shipper on forms issued by the carrier, it serves as a document of title, a contract of carriage, and a receipt for goods. A warehouse is a specific location or place that is used for the administration and storage of products.

  • The flat form of the body makes loading and unloading items considerably simpler.
  • Some Forklifts, depending on their design, enable the operators to sit while driving or controlling the equipment.
  • Nested freight reduces the amount of space taken up by the combined freight and makes LTL shipping more efficient as a result.
  • Instead, the distributor’s information is printed on the products label.

For example, if an “all risk” cargo policy does not expressly exclude a specific provision, then the policy would cover the provision or event. Actual value of goods shown on bill of lading by shipper when rate to be applied depends on value. Accounts payable (AP) represents the amount that a company owes to its creditors and suppliers (also referred to as a current liability account). Accounts payable is recorded on the balance sheet under current liabilities.

FOB Destination

It’s used for uniquely identifying the trade items sold, delivered, warehoused, and billed throughout retail and commercial distribution channels. Unlike a UPC number, which only provides information specific to a group of products, the GTIN gives each product its own specific identifying number, giving greater accuracy in tracking. https://kelleysbookkeeping.com/what-is-a-general-ledger-account/ Conducting business electronically via traditional EDI technologies, or online via the Internet. Ecommerce fulfillment will then take the orders from the online store and work through the logistics of getting the purchased goods to the end user. A document used to accept materials or equipment at an ocean pier or accepted location.

What are the different types of vendors?

The five types of vendors are manufacturers, wholesalers, retailers, service and maintenance providers and independent vendors and trade show representatives.

These goods are refrigerated or frozen to keep them fresh throughout shipping. However, if products are transported from one nation to another, this is referred to as export. Express freight is anything that has to be moved quickly from one location to another.

Fourth Party Logistics (4PL)

Information supplied by the carrier containing the name of the person who signed for the shipment, the time and date of delivery and other shipment delivery-related information. POD is also sometimes used to refer to the process of printing materials just prior to shipment (Print on Demand). Barcode labels that can be applied to both pallet shipments and individual cartons.

What Is A Vendor? Logistics Terms And Definitions

The port authority charges a storage cost, while the shipping firm charges a detention and demurrage fee. To put it simply, storage is a cost paid on every container that is not moved from the storage space/terminal when it is ready to be loaded onto a truck or a vessel. Storage is a charge imposed by the port authorities on a shipping line if their container remains in the port or terminal beyond the laytime allowed to clear them.

Through Rate

The items in the container are owned by a single shipper and are accompanied by a single Bill of Lading (BOL). Fourth Party Logistical, or 4PL, is the practice of outsourcing logistics activities to a single partner. The partner will be in charge of evaluating, developing, constructing, operating, and monitoring integrated supply chain solutions for the customer.

Collect Shipping — A type of billing that charges the consignee with freight costs rather than the consignor. Capacity — In trucking, the term refers to available trucks in any given market. Conceptually speaking, tight capacity translates into a more difficult market that is more challenging to find a carrier willing to complete an order. Conversely, loose capacity translates into an easier environment that is easier to find a carrier.

Comprehensive Logistics & Supply Chain Glossary

In terms of functionality, a flatbed trailer is similar to a flatbed truck. Trucks, yachts, huge vehicles, boats, cranes, turbine blades, ship propellers, generators, massive motors, construction equipment, and so on are often transported in flat rack containers. The projected time for a transportation system to leave its place of origin/location is known as the Estimated Time of Departure.

What Is A Vendor? Logistics Terms And Definitions

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