Industry Terms 1 2 3 4 5

Inbound - Shipments of raw materials and goods transported into a plant or other location for further processing or distribution.

Just-In-Time - In this method of inventory control, warehousing is minimal or nonexistent. The container is a moveable warehouse that must arrive as the materials or goods are required.

Less Than Truckload (LTL) - A quantity of freight less than the amount required to apply a full truckload rate.

Logistics - Management of all inbound and outbound materials, parts, supplies and finished goods. Originally confined to traffic and warehousing, logistics has evolved to include: forecasting, order entry, inventory control, production scheduling and product allocation.

Logistics Management - Managing some or all of the supply chain functions, including product research and development, sales and forecasting, purchasing and sourcing, production planning, manufacturing, marketing and sales, inventory management, cross-docking and flow-through, transportation, customer service, freight payment and information reporting.