Agile Inventory Management: The implementation of agile inventory strategies, such as just-in-time (JIT) inventory, vendor-managed inventory (VMI), and demand-driven replenishment, to optimize inventory levels, reduce holding costs, and improve supply chain responsiveness.
Agile Supply Chain: A flexible and adaptive supply chain capable of quickly responding to changing customer demands, market dynamics, and disruptions, achieved through effective coordination, visibility, and rapid decision-making.
Air Waybill (AWB): A document issued by an airline or air freight carrier that serves as a contract of carriage and evidence of the receipt of goods for air transportation. It contains information about the shipment, such as origin, destination, flight details, and handling instructions.
ATA (Admission Temporaire/Temporary Admission) Carnet: An international customs document that allows the temporary importation of goods for a limited period without the need for paying customs duties or taxes.
ATA Carnet: An international customs document that facilitates the temporary importation of goods for exhibition, trade shows, or professional purposes without the need to pay import duties or taxes.
Bill of Entry: A document filed with customs authorities by the importer or their authorized representative to declare the imported goods, providing details such as the quantity, value, classification, and duty assessment for customs clearance.
Bill of Lading (B/L): A document issued by the carrier to acknowledge receipt of goods and serve as evidence of the contract of carriage. It includes details such as the description of goods, shipper and consignee information, and terms and conditions of transportation.
Bill of Materials (BOM): A comprehensive list of all components, parts, and raw materials required to manufacture a product, including their quantities and specifications.
Carrier: A company or entity that provides transportation services for cargo, either as a shipping line, airline, trucking company, or railway operator.
Certificate of Analysis: A document issued by a laboratory or testing facility to confirm the quality, composition, or performance characteristics of a product, often required for goods subject to regulatory or customer-specific requirements.
Certificate of Conformity: A document issued by a certification body or authority to certify that the imported goods comply with specified quality, safety, or technical standards of the importing country.
Certificate of Inspection: A document issued by an authorized inspection agency or organization to certify that the goods meet specified quality, safety, or performance standards, providing assurance to buyers or regulatory bodies.
Certificate of Insurance: A document issued by an insurance company to verify that the cargo is insured against specified risks during transportation.
Certificate of Origin: A document that certifies the country of origin of goods and is often required for customs clearance, tariff determination, and trade agreements.
CFR (Cost and Freight): The seller is responsible for delivering the goods on board the vessel at the named port of shipment and covering the costs of freight to the named port of destination. The risk transfers to the buyer when the goods pass the ship’s rail.
Charter Party: A contract between a shipowner or carrier and a charterer that outlines the terms, conditions, and responsibilities for the chartering of a vessel for a specific voyage or period.
CIF (Cost, Insurance, and Freight): Similar to CFR, but the seller also arranges and pays for insurance against the buyer’s risk of loss or damage to the goods during transit.
CIP (Carriage and Insurance Paid To): Similar to CPT, but the seller also arranges and pays for insurance against the buyer’s risk of loss or damage to the goods during transit.
Clean Bill of Lading: A bill of lading that states that the goods have been received by the carrier in “apparent good order and condition” without any damage or discrepancy noted.
Consignee: The person or entity to whom the goods are shipped or delivered, typically the buyer or the party named in the shipping documents as the recipient of the cargo.
Consular Invoice: An invoice prepared in a specified format and certified by the consulate or embassy of the importing country, often required for certain goods or destinations to comply with regulatory or trade requirements.
Container Freight Station (CFS): A facility where cargo is consolidated, deconsolidated, or temporarily stored in containers during the shipping process, often located near seaports or inland transportation hubs.
Containerization: The practice of packing goods into standardized shipping containers for ease of transportation and handling. Containers are typically used for intermodal transportation, allowing seamless transfer between different modes of transport.
Continuous Improvement: A philosophy and approach focused on making incremental and ongoing improvements to processes, systems, and performance within the supply chain to enhance efficiency, quality, and customer satisfaction.
Cost, Insurance, and Freight (CIF): An Incoterm where the seller is responsible for delivering the goods on board the vessel at the named port of shipment and covering the costs of freight to the named port of destination. The seller also arranges and pays for insurance against the buyer’s risk of loss or damage to the goods during transit.
CPT (Carriage Paid To): The seller is responsible for delivering the goods to the carrier or another party designated by the seller at a named place. The seller bears the transportation costs to the named destination, but the buyer assumes risk from the point of delivery.
Cross-Docking: A logistics practice where goods are received at a warehouse or distribution center and immediately transferred to outbound transportation, reducing the need for long-term storage.
Cross-Functional Collaboration: Collaboration and communication between different functional areas or departments within an organization, such as sales, operations, and finance, to align goals and optimize supply chain performance.
Customs Broker: A licensed professional or firm that specializes in customs regulations and procedures, assisting importers and exporters in ensuring compliance with customs requirements, facilitating customs clearance, and managing documentation.
Customs Clearance: The process of complying with customs regulations and obtaining permission from customs authorities to import or export goods across international borders.
Customs Duties: Taxes imposed by customs authorities on imported or exported goods, usually based on the value, type, or quantity of the goods.
Dangerous Goods Declaration: A document that provides detailed information about the nature, classification, and handling instructions of hazardous materials being transported, in compliance with international regulations such as the International Maritime Dangerous Goods (IMDG) Code or the International Air Transport Association (IATA) Dangerous Goods Regulations.
Dangerous Goods: Hazardous substances or materials that can pose risks to health, safety, property, or the environment during transportation, requiring special handling, labeling, and documentation.
DAP (Delivered at Place): The seller delivers the goods at a named place of destination, but not unloaded. The seller bears the costs and risks until the goods are ready for unloading at the named place, where the responsibility transfers to the buyer.
DAT (Delivered at Terminal): The seller delivers the goods, unloaded, at a named terminal at the destination port or place. The seller bears all costs and risks until the goods are unloaded at the terminal, where the responsibility transfers to the buyer.
DDP (Delivered Duty Paid): The seller is responsible for delivering the goods to the buyer, cleared for import, at the named place of destination. The seller assumes all costs, risks, and responsibilities associated with import duties and taxes.
Deadweight Tonnage (DWT): The total weight carrying capacity of a vessel, including cargo, fuel, provisions, and other supplies, measured in metric tons.
Delivered Duty Paid (DDP): An Incoterm where the seller is responsible for delivering the goods to the buyer, cleared for import, at the named place of destination. The seller assumes all costs, risks, and responsibilities associated with import duties and taxes.
Delivery Duty Unpaid (DDU): An Incoterm where the seller is responsible for delivering the goods to the named place of destination, excluding import duties and taxes. The buyer assumes responsibility for customs clearance and payment of applicable duties and taxes.
Delivery Order: A document issued by the carrier or shipping agent to authorize the release of goods to the consignee or their authorized representative upon presentation of the necessary documents and payment of any outstanding charges.
Demand Forecasting: The process of estimating future customer demand for a product or service to inform production, inventory, and resource planning decisions.
Demand Planning: The process of estimating and predicting customer demand for goods or services over a specific time period, considering factors such as historical data, market trends, and external influences.
Demand-Supply Balancing: The continuous process of adjusting production and inventory levels to match fluctuations in customer demand while avoiding overstocking or stockouts.
Demand-Supply Matching: The process of aligning the quantity and timing of supply with customer demand to minimize stockouts and excess inventory.
Demurrage: Charges imposed by the carrier or port authority when cargo or containers are not picked up or returned within the agreed-upon time frame, causing delays or congestion.
Demurrage: Charges imposed by the carrier or terminal operator for the excessive use of equipment, such as containers or trailers, beyond the agreed-upon free time allotted for loading or unloading.
Discrepancy: Any deviation, error, or inconsistency identified in the documentation or physical condition of the cargo, such as discrepancies in quantities, descriptions, or packaging, which may require resolution or clarification before the goods can be released or accepted.
Distribution: The process of transporting finished goods from the production facilities to the end customers through various channels, such as wholesalers, retailers, or directly to consumers.
Duty Drawback: A customs procedure that allows exporters to claim a refund of customs duties previously paid on imported goods when those goods are re-exported or used in the production of exported goods.
Electronic Data Interchange (EDI): A structured electronic format for exchanging business documents, such as purchase orders, invoices, and shipping notices, between trading partners, facilitating automated and paperless communication in international trade.
Empty Container Return (ECR): The process of returning empty containers to the designated location or depot after unloading the cargo, as specified by the carrier or container provider.
Ethical Labor Practices in the Supply Chain: The promotion and enforcement of fair labor standards, safe working conditions, and human rights throughout the supply chain, including supplier audits, worker empowerment programs, and social compliance initiatives.
Ethical Sourcing: The practice of ensuring that products or raw materials are obtained from suppliers who adhere to social, labor, and environmental standards, promoting responsible and sustainable sourcing practices.
Export Control: Government regulations and restrictions on the export of specific goods, technologies, or services to certain destinations or end-users, aimed at protecting national security, preventing proliferation, or complying with international agreements.
Export Declaration: A document filed with the customs authorities by the exporter to provide information about the exported goods, including their description, value, destination, and other relevant details for statistical and regulatory purposes.
Export Duty: A tax or customs duty imposed by the exporting country on goods being shipped out of its territory, often levied to protect domestic industries or regulate the export of specific goods.
Export License: A government-issued document that authorizes the exportation of specific goods to certain destinations, subject to compliance with export control regulations and licensing requirements.
Export: The process of sending goods from one country to another for sale or trade.
Exporter of Record (EOR): The entity or individual responsible for complying with export regulations and providing accurate documentation for exported goods.
EXW (Ex Works): The seller’s responsibility is to make the goods available at their own premises or designated location. The buyer assumes all risks and costs associated with transportation, export clearance, and import duties.
FAS (Free Alongside Ship): The seller delivers the goods alongside the vessel at the named port of shipment. The seller bears all costs and risks until the goods are placed alongside the ship, and the buyer assumes responsibility from that point onward.
FCA (Free Carrier): The seller is responsible for delivering the goods to a carrier or another party designated by the buyer at a named place. The seller clears the goods for export, while the buyer assumes responsibility from that point onward.
FOB (Free on Board): The seller delivers the goods on board the vessel at the named port of shipment. The seller is responsible for costs and risks until the goods pass the ship’s rail, after which the buyer assumes responsibility.
Forecast Accuracy: The measure of how closely actual customer demand aligns with the forecasted demand, indicating the effectiveness of demand forecasting processes and methods.
Free Carrier (FCA): An Incoterm where the seller delivers the goods to a carrier or another party nominated by the buyer at a named place. The seller is responsible for export clearance, while the buyer assumes responsibility from that point onward.
Free on Board (FOB): An Incoterm where the seller delivers the goods on board the vessel at the named port of shipment. The seller is responsible for costs and risks until the goods pass the ship’s rail, after which the buyer assumes responsibility.
Free Trade Zone: A designated area within a country where goods can be imported, stored, manufactured, or re-exported with certain benefits, such as duty exemptions or reduced customs procedures.
Freight Consolidation: The practice of combining multiple smaller shipments into a single larger shipment, optimizing transportation efficiency and reducing costs.
Freight Forwarder: An intermediary agent or company that facilitates the transportation of cargo on behalf of shippers, providing services such as documentation, customs clearance, and arranging transportation.
Freight Rate: The cost charged by a carrier for transporting goods from one location to another, usually based on factors such as distance, weight, volume, and mode of transport.
Freight: Goods or cargo that are transported by various modes of transportation, such as ships, airplanes, trucks, or trains.
General Average: A principle in maritime law where all parties involved in a voyage share the losses incurred due to intentional sacrifices or expenses made to save the vessel, cargo, or crew from a common peril.
Green Procurement Practices: The adoption of environmentally friendly criteria and considerations in the procurement process, including supplier selection, product evaluation, and lifecycle assessments, to support sustainable sourcing and minimize environmental impact.
Green Supply Chain: A supply chain that incorporates environmentally sustainable practices, such as reducing emissions, minimizing waste, and using eco-friendly materials and transportation methods.
Harmonized Commodity Description and Coding System (Harmonized System): An internationally standardized system for classifying and coding goods, using a hierarchical structure of codes and descriptions, enabling uniformity in trade statistics, customs declarations, and tariff classification.
Harmonized System (HS) Code: An internationally standardized system for classifying and coding goods for customs, statistical, and tariff purposes. HS codes are used to classify and identify products traded internationally.
Harmonized System (HS) Nomenclature: A hierarchical system for classifying goods based on their composition, function, and characteristics, using a standardized coding system to ensure uniformity in trade statistics and customs procedures worldwide.
Harmonized Tariff Schedule (HTS): A system that assigns tariff codes to goods for the purpose of international trade. The Harmonized Tariff Schedule (HTS) is used by customs authorities to determine the appropriate duty rates, restrictions, and regulations applicable to specific goods.
Import Declaration: A document filed with the customs authorities by the importer to declare the imported goods, including their description, origin, value, classification, and other relevant details for customs assessment and clearance.
Import Duty: A tax or customs duty imposed by the importing country on goods being brought into its territory, typically based on the value, classification, and origin of the imported goods.
Import License: A government-issued document that grants permission to import specific goods into a country, subject to compliance with import regulations, quotas, or licensing requirements.
Import Quota: A quantitative restriction imposed by the importing country on the quantity or value of certain goods that can be imported within a specific period, often used to regulate trade, protect domestic industries, or maintain balance of payments.
Import: The process of bringing goods into a country from another country for domestic use or trade.
Importer of Record (IOR): The entity or individual responsible for ensuring compliance with customs regulations and paying applicable duties and taxes for imported goods.
Inbound Logistics: The management of transportation, warehousing, and inventory activities related to the receipt and storage of raw materials or components into a production or distribution facility.
Incoherent (INC): A term used in shipping to indicate that the goods are not properly packed or secured, posing a risk to the safety of the cargo or vessel.
Incoterms® (International Commercial Terms): A set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the rights and obligations of buyers and sellers in international trade transactions.
Inland Container Depot (ICD): A facility or terminal located inland, away from seaports, where containers are received, stored, consolidated, and distributed for efficient transportation to and from seaports.
Inland Transportation: The movement of cargo within a country, usually from a port of entry to the final destination or from the place of origin to a port of departure.
Intermodal Transportation: The use of multiple modes of transportation, such as trucks, trains, ships, or planes, in a coordinated and integrated manner to enhance efficiency, reduce costs, and improve delivery speed.
Inventory Management: The practice of overseeing and controlling the quantities and locations of goods within a supply chain to ensure optimal availability and minimize excess or shortage.
Just-in-Time (JIT): A production and inventory management approach that aims to minimize inventory levels by delivering goods or components precisely when they are needed in the production process.
KPI (Key Performance Indicator): Quantifiable metrics used to measure and evaluate the performance and effectiveness of various aspects of the supply chain, such as on-time delivery, order accuracy, or inventory turnover.
Last Mile Delivery: The final stage of the supply chain, involving the transportation of goods from a distribution center or local hub to the end customer’s location.
Lead Time: The time interval between the initiation of a process and its completion, including order processing, production, and transportation, which affects the overall responsiveness of the supply chain.
Lean Manufacturing: A production approach that focuses on eliminating waste, reducing lead times, and maximizing efficiency to deliver high-quality products with minimal resources and costs.
Lean Supply Chain Management: The application of lean principles and practices to the supply chain, aiming to eliminate waste, streamline processes, and optimize resource utilization, thereby improving efficiency, reducing costs, and enhancing customer value.
Lean Warehousing and Distribution: The application of lean principles and practices to warehouse and distribution operations, focusing on waste reduction, process efficiency, and continuous improvement to optimize inventory management and order fulfillment.
Letter of Credit (L/C): A financial instrument issued by a bank on behalf of the buyer to guarantee payment to the seller upon fulfillment of specified conditions, providing security and assurance in international trade transactions.
Letter of Indemnity (LOI): A legal document issued by a shipper or consignee to indemnify the carrier against any liability or loss that may arise due to the issuance of a clean bill of lading when the goods were not in apparent good order and condition.
Letter of Indemnity: A legal document issued by a carrier to indemnify and protect the shipper or consignee against potential loss or damage to the cargo during transportation.
Logistics: The process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption.
Multimodal Transportation: The transportation of goods using two or more modes of transport, such as combining trucking, rail, air, and sea transport, to ensure seamless and efficient movement from origin to destination.
Omnichannel Supply Chain: A seamless and integrated approach to managing inventory, fulfillment, and customer experiences across multiple sales channels, including brick-and-mortar stores, e-commerce platforms, and mobile applications.
Order Fulfillment Cycle Time: The time it takes to process and fulfill a customer order from the moment it is received to the point of delivery, encompassing activities such as order processing, picking, packing, and shipping.
Order Fulfillment: The process of receiving, processing, and delivering customer orders, including picking, packing, and shipping products accurately and on time.
Order Management: The end-to-end process of capturing, processing, and fulfilling customer orders, including order entry, order tracking, and order status updates.
Phytosanitary Certificate: A certificate issued by the relevant authorities to confirm that plant-based products, such as agricultural commodities or live plants, have been inspected and are free from pests, diseases, or other quarantine risks.
Port of Entry: A designated seaport, airport, or land border crossing point where goods enter a country for customs clearance and inspection.
Postponement Strategy: A supply chain strategy that delays the final customization or assembly of products until customer demand is known, enabling greater flexibility, reduced inventory, and faster response to market changes.
Pre-shipment Inspection: An inspection conducted by an authorized third-party inspection agency to verify the quantity, quality, and conformity of the goods prior to shipment, ensuring compliance with contractual requirements and regulatory standards.
Pro Forma Invoice: An initial or preliminary invoice provided by the seller to the buyer before the completion of a transaction, stating the estimated costs, terms, and description of the goods or services to be provided.
Procurement: The process of sourcing, selecting, and acquiring goods and services from external suppliers to meet organizational needs.
Proof of Delivery (POD): Documentation or evidence that confirms the delivery of goods to the consignee, typically signed by the recipient or their authorized representative.
Proof of Origin: Documentation or certification, such as a Certificate of Origin or declaration by the exporter, that confirms the country of origin of the goods, often required for customs clearance, preferential trade agreements, or determining eligibility for certain trade benefits.
Reefer Container: A refrigerated container used for transporting temperature-sensitive goods, such as perishable food products or pharmaceuticals, requiring controlled temperature and humidity conditions.
Reefer Monitoring: The process of remotely monitoring and controlling the temperature, humidity, and other environmental conditions inside refrigerated containers to ensure the integrity and freshness of temperature-sensitive cargo.
Reshoring: The strategic decision to bring back manufacturing or sourcing activities to the domestic or local market, often driven by factors such as cost considerations, quality control, or supply chain resilience.
Resilient Distribution Network: The design and optimization of distribution networks, including the strategic positioning of warehouses, distribution centers, and fulfillment channels, to ensure efficient and responsive order fulfillment and distribution.
Resilient Sourcing: The diversification and strategic selection of suppliers or sourcing locations to minimize vulnerabilities and disruptions in the supply chain, enhancing adaptability and continuity.
Responsible Minerals Sourcing: The implementation of responsible sourcing practices and due diligence procedures to ensure that minerals used in supply chain processes, such as conflict minerals, are ethically and legally obtained.
Reverse Logistics Optimization: The efficient management and optimization of product returns, repairs, and recycling processes within the supply chain, aiming to reduce waste, recover value, and minimize environmental impact.
Reverse Logistics: The management of the flow of goods and materials from the point of consumption back to the point of origin for recycling, repair, or disposal.
Risk Assessment: The evaluation and analysis of potential risks and their potential impact on the supply chain, helping to develop risk mitigation strategies and contingency plans.
Risk Mitigation: The proactive measures and strategies implemented to reduce the likelihood or impact of potential risks or disruptions in the supply chain, such as diversifying suppliers, implementing backup plans, or developing contingency strategies.
Seawaybill: A non-negotiable document issued by the carrier to evidence the receipt of goods and serve as a contract of carriage, used for shipments where a bill of lading is not required or needed.
Short Shipment: A situation where the quantity of goods delivered is less than the quantity specified in the shipping documents or purchase order, often requiring investigation and resolution with the carrier or supplier.
SKU (Stock Keeping Unit): A unique identifier assigned to a specific product or item within inventory management, enabling accurate tracking, management, and replenishment.
SKU Rationalization: The process of evaluating and optimizing the number and variety of stock keeping units in the product portfolio to improve efficiency, reduce costs, and eliminate redundant items.
Supplier Performance Management: The systematic measurement, evaluation, and improvement of suppliers’ performance based on predefined criteria, fostering accountability, quality, and continuous improvement.
Supplier Relationship Management (SRM): The process of strategically managing relationships with suppliers to ensure a reliable supply of quality goods and services, fostering collaboration and mutual benefits.
Supplier Relationship Optimization: The ongoing efforts to nurture and strengthen relationships with suppliers through effective communication, collaboration, and mutual value creation, fostering long-term partnerships and supply chain stability.
Supplier: A person or organization that provides goods or services to another organization as part of the supply chain.
Supply Chain Analytics and Predictive Modeling: The application of advanced analytics, data modeling, and forecasting techniques to extract insights, anticipate demand patterns, optimize inventory, and make data-driven decisions within the supply chain.
Supply Chain Carbon Footprint Reduction: The implementation of strategies and initiatives to measure, reduce, and offset greenhouse gas emissions associated with supply chain activities, including transportation optimization, packaging efficiency, and alternative fuel adoption.
Supply Chain Circular Economy: The transition from a linear “take-make-dispose” approach to a circular economy model, focusing on waste reduction, recycling, and product lifecycle extension within the supply chain to minimize resource consumption and environmental impact.
Supply Chain Collaboration Ecosystem: The interconnected network of suppliers, manufacturers, distributors, retailers, and other stakeholders collaborating and sharing information to drive supply chain efficiency, innovation, and value creation.
Supply Chain Collaboration Platforms: Digital platforms or technologies that facilitate real-time collaboration, communication, and information sharing among supply chain partners, enhancing visibility, transparency, and decision-making.
Supply Chain Collaboration Standards: The establishment and adherence to industry-wide collaboration standards, frameworks, and protocols that enable seamless information sharing, interoperability, and collaboration among supply chain partners.
Supply Chain Collaboration: The practice of organizations working together and sharing information and resources to improve supply chain efficiency, reduce costs, and enhance customer satisfaction.
Supply Chain Digital Transformation: The integration of digital technologies, such as IoT, AI, big data analytics, and cloud computing, to digitize and automate supply chain processes, enhance visibility, and optimize decision-making.
Supply Chain Disruption: Unexpected events or circumstances that disrupt the flow of goods, services, or information within the supply chain, potentially causing delays, shortages, or increased costs.
Supply Chain Diversity and Inclusion: The promotion of diversity and inclusivity within the supply chain, including supplier diversity programs, minority-owned business partnerships, and initiatives to ensure equal opportunities for underrepresented groups.
Supply Chain Ethics Training and Education: The provision of training programs and educational resources to supply chain professionals and stakeholders on ethical practices, responsible sourcing, and sustainability to enhance ethical decision-making and awareness.
Supply Chain Flexibility: The ability of the supply chain to quickly and efficiently adapt to changing market conditions, customer requirements, and unforeseen events, leveraging agile processes, modular designs, and responsive capabilities.
Supply Chain Governance: The establishment of policies, procedures, and guidelines to ensure compliance, ethical conduct, and risk management throughout the supply chain, often involving contractual agreements and audits.
Supply Chain Innovation Ecosystems: The cultivation and support of collaborative ecosystems that foster innovation, entrepreneurship, and technology adoption within the supply chain, including partnerships with startups, research institutions, and venture capital firms.
Supply Chain Innovation Hubs: The creation and development of collaborative spaces or platforms where supply chain stakeholders, including industry experts, academia, and startups, can come together to foster innovation, exchange ideas, and drive industry advancements.
Supply Chain Integration: The seamless coordination and collaboration of various entities within the supply chain, including suppliers, manufacturers, distributors, and retailers, to enhance visibility, information sharing, and operational efficiency.
Supply Chain Network Optimization: The process of designing and restructuring the physical and logistical elements of a supply chain network, such as distribution centers, warehouses, and transportation routes, to achieve optimal efficiency and cost-effectiveness.
Supply Chain Optimization: The process of improving the efficiency, cost-effectiveness, and performance of the supply chain through data analysis, modeling, and process improvement initiatives.
Supply Chain Performance Measurement: The process of tracking, monitoring, and evaluating key performance indicators (KPIs) and metrics to assess the effectiveness, efficiency, and competitiveness of the supply chain, enabling performance improvements and informed decision-making.
Supply Chain Reshaping: The restructuring or reconfiguration of the supply chain network, processes, or relationships to adapt to changes in market dynamics, customer expectations, or technological advancements.
Supply Chain Reshoring Strategies: The evaluation and strategic reshoring of manufacturing or sourcing activities to domestic or local markets, driven by factors such as cost competitiveness, quality control, and supply chain resilience.
Supply Chain Resilience Benchmarking: The comparison and assessment of supply chain resilience capabilities against industry benchmarks and best practices to identify areas for improvement and enhance overall resilience.
Supply Chain Resilience Planning: The proactive development and implementation of strategies, processes, and protocols to enhance the ability of the supply chain to withstand and recover from disruptions, ensuring business continuity and minimizing operational disruptions.
Supply Chain Resilience: The ability of a supply chain to withstand and recover from disruptions, such as natural disasters, market fluctuations, or supplier failures, while maintaining operational continuity.
Supply Chain Risk Assessment: The systematic evaluation and identification of potential risks, vulnerabilities, and points of failure within the supply chain, enabling the development of risk mitigation strategies and contingency plans.
Supply Chain Risk Communication: The effective communication of potential risks, disruptions, and mitigation strategies among supply chain partners to ensure shared awareness, preparedness, and coordinated response.
Supply Chain Risk Insurance: The utilization of risk management tools, such as supply chain insurance policies, to transfer or mitigate potential financial losses and liabilities associated with supply chain disruptions or failures.
Supply Chain Risk Intelligence Platforms: The utilization of specialized software platforms and tools that gather, analyze, and provide real-time insights on supply chain risks, enabling proactive risk management and decision-making.
Supply Chain Risk Intelligence: The continuous monitoring, analysis, and assessment of external and internal factors that may pose risks or disruptions to the supply chain, allowing for proactive risk mitigation and agile decision-making.
Supply Chain Risk Management: The practice of identifying, assessing, and mitigating potential risks and disruptions within the supply chain to ensure business continuity and minimize adverse impacts.
Supply Chain Risk Mitigation Strategies: The formulation and implementation of proactive measures, such as dual sourcing, safety stock, supply chain diversification, and business continuity planning, to minimize the impact of potential disruptions and ensure supply chain resilience.
Supply Chain Robotic Process Automation (RPA): The application of robotic automation technology to streamline and automate manual or repetitive supply chain processes, improving efficiency, accuracy, and speed of operations.
Supply Chain Talent Development: The strategic recruitment, training, and development of skilled professionals in supply chain management, fostering expertise, leadership, and innovation to drive supply chain excellence.
Supply Chain Traceability and Compliance: The implementation of systems and processes to ensure compliance with regulatory requirements, industry standards, and ethical practices, while enabling end-to-end visibility and transparency across the supply chain.
Supply Chain Traceability: The ability to track and trace the movement of products, materials, or ingredients throughout the supply chain, ensuring transparency, quality control, and compliance with regulations or standards.
Supply Chain Visibility and Collaboration Tools: The utilization of technology platforms, such as supply chain management systems, real-time tracking, and collaborative portals, to enhance visibility, communication, and coordination among supply chain partners.
Supply Chain Visibility: The ability to track and monitor the movement of goods, information, and funds across the supply chain in real-time to improve decision-making and responsiveness.
Supply Chain Water Management: The implementation of water conservation and management practices throughout the supply chain, including efficient water usage, wastewater treatment, and water footprint reduction initiatives.
Supply Chain: The network of organizations, activities, resources, and technologies involved in the creation and distribution of a product or service from the supplier to the end customer.
Sustainability Metrics: Performance indicators and measurements used to assess and track the environmental, social, and economic impact of supply chain activities, supporting sustainable practices and responsible decision-making.
Sustainable Agriculture and Farm-to-Table Supply Chains: The integration of sustainable agricultural practices, local sourcing, and shorter supply chains to support environmentally friendly food production, reduce food waste, and enhance food security.
Sustainable Energy Management in the Supply Chain: The adoption of renewable energy sources, energy-efficient technologies, and carbon reduction strategies within the supply chain to minimize greenhouse gas emissions and contribute to sustainable energy practices.
Sustainable Packaging Solutions: The development and adoption of environmentally friendly packaging materials, designs, and practices within the supply chain to reduce waste, minimize environmental impact, and meet sustainability goals.
Sustainable Supplier Development: The engagement and support of suppliers in adopting sustainable practices, including social responsibility, environmental stewardship, and ethical sourcing, to build a responsible and resilient supply chain ecosystem.
Sustainable Supply Chain Certification: The attainment of recognized certifications or standards, such as ISO 14001 (Environmental Management System) or Fairtrade, to demonstrate commitment to sustainable and responsible practices throughout the supply chain.
Sustainable Supply Chain Finance: The integration of environmental, social, and governance (ESG) factors into supply chain financing decisions, considering the sustainability performance and practices of suppliers when providing financial support or incentives.
Sustainable Transportation Solutions: The adoption of environmentally friendly and energy-efficient transportation modes, fuel alternatives, and route optimization techniques to reduce carbon emissions, improve efficiency, and support sustainable supply chains.
Tariff: A tax or duty imposed by a government on imported or exported goods, often used to protect domestic industries or regulate international trade.
Total Cost of Ownership (TCO): A comprehensive calculation of all costs associated with owning, using, and maintaining a product or asset over its lifecycle, including purchase price, operating costs, and disposal expenses.
Trade Compliance Audit: A comprehensive review and assessment of an organization’s import and export activities to ensure compliance with customs regulations, trade laws, and internal policies, identifying any potential risks or areas of non-compliance.
Trade Compliance: The adherence to laws, regulations, and international trade agreements governing the import and export of goods, including customs requirements, trade sanctions, export controls, and licensing obligations.
Transit Time: The duration it takes for goods to be transported from the origin to the destination, including the time spent in transit and any necessary stops or transfers.
Transshipment: The transfer of goods from one transportation vessel or mode to another during the journey, typically occurring at intermediate ports or hubs.
Vendor Compliance: The adherence to predefined standards, requirements, and protocols set by customers or regulatory bodies by suppliers or vendors, ensuring consistency, quality, and regulatory compliance within the supply chain.
Vendor-Managed Inventory (VMI): An inventory management approach where the supplier or vendor is responsible for monitoring and replenishing stock at the customer’s location, based on agreed-upon inventory levels.
Warehousing and Distribution: The storage, handling, and distribution of goods in a warehouse or distribution center, including activities such as inventory management, order fulfillment, and transportation coordination.
Warehousing: The storage of goods in a designated facility or warehouse to facilitate their efficient handling, distribution, and fulfillment.
Waybill: A document issued by the carrier or freight forwarder to provide details of the shipment, including origin, destination, consignor, consignee, and a description of the goods.
Weight and Measurement (W&M): A term used to indicate the total weight and dimensions (length, width, height) of a shipment, which are crucial for freight calculations, load planning, and transportation compliance.
