Logistics Dictionary

The time that elapses from placement of order until receipt of order. This includes time for order transmittal, processing, preparation, and shipping.

Order Cycle Time

Cycle Time

Order Management

Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activites.

The planning, directing, monitoring, and controlling of the processes related to customer orders, manufacturing orders, and purchase orders.

Product ordered but out of stock and promised to ship when the product becomes available.

Buffer Stock

Back Order

An extreme change in the supply position upstream in a supply chain generated by a small change in demand downstream in the supply chain.

Bullwhip Effect

Cost Trade-Off

Cross Docking

A prohibition upon exports or imports, either with specific products or specific countries.

A distribution system in which merchandise received at the warehouse or distribution center is not put away, but instead is readied for shipment to retail stores.

The carrying capacity of a piece of equipment according to measurement in cubic feet.

Full Containerload (FCL)

Cubic Capacity

The process of studying data to search for previously unknown relationships. This knowledge is then applied to achieving specific business goals.

Hub

Data Mining

An inventory model that determines how much to order by determining the amount that will meet customer service levels while minimizing total ordering and holding costs.

Economic Order Quantity (EOQ)

Business Performance Measurement (BPM)

Inventory Cost

The cost of holding goods, usually expressed as a percentage of the inventory value; includes the cost of capital, warehousing, taxes, insurance, depreciation, and obsolescence.

The cost associated with a single unit of product. The total cost of producing a product or service divided by the total number of units.

A category of unit with a unique combination of form, fit, and function (i.e., unique components held in stock).

Unit Cost

Stock-Keeping Unit (SKU)

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