General Terms
3PL
Third-party logistics involves outsourcing elements of distribution and warehousing to third-party providers. CTI is primarily a 3PL provider.
4PL
Fourth-party logistics, or lead logistics, providers take on similar roles to 3PL providers but have a broader scope within the supply chain. CTI also offers lead logistics/4PL services.
AEO
An Authorized Economic Operator is a company approved by a national Customs administration to be involved in the international movement of goods.
Autonomous Car
Also known as self-driving, robot, or driverless cars.
B/L
A bill of lading is a detailed list of a ship’s cargo.
Bonded Warehousing
Companies can store goods in a bonded warehouse without paying taxes or tariffs until the goods are ready for onward distribution.
Cold Chain
A refrigerated, temperature-controlled supply chain used for pharmaceutical products or foodstuffs. An unbroken cold chain is a series of refrigerated production, storage, and distribution facilities that maintain a specified low-temperature range.
Compliance
Products, services, processes, and/or documents that meet relevant requirements.
Dangerous Goods
Substances or articles that pose a risk to people, property, or the environment due to their chemical or physical properties.
Digitalization
The adoption or increased use of digital or computer technology.
Digitization
The conversion of analogue data into digital form.
Self-Driving Car
Also known as robot, autonomous, or driverless cars.
SOP
Standard operating procedures provide instructions for carrying out complex routine operations in an efficient and uniform way, in accordance with industry regulations, to reduce miscommunication.
TM
A transport management system, which is a subset of supply chain management, is designed to optimize the efficiency and effectiveness of transportation fleets. This software solution enables businesses to streamline their transportation processes, manage resources and reduce costs.
Track and trace:
Track and trace is a supply chain process that involves identifying the current and past locations of inventory items. This helps businesses to monitor the movement of goods throughout the supply chain and provides real-time visibility of inventory levels.
FTL, FTL Freight
Full truckload freight occupies a truck exclusively, either because the shipment would fill a whole truck or because the customer wants to pay for a whole truck even if the shipment would not fill it completely. This option may be more expensive than booking LTL (less than truckload) freight but provides faster collection and delivery.
GDP
Good Distribution Practice guidelines ensure the proper distribution of medicinal products for human use. Gross Domestic Product is a monetary measure of the market value of all final goods and services produced in a period in a country or region.
Haulier
In the UK, the term “haulier” is used for what is more commonly referred to as a “trucking company” elsewhere.
Hazardous Cargo
Substances classified based on their health effects are hazardous substances, while dangerous goods relate to physical or chemical effects, including fire, explosion, corrosion, and poisoning, whether affecting property, the environment, or people.
Healthcare Vertical
A healthcare vertical provides services to several sectors, including biotechnology and pharmaceuticals, medical devices and diagnostics, medical products and personal care, and hospitals and care homes.
Incoterms®
Standard global trading terms and conditions issued by the International Chamber of Commerce to help traders, lawyers, transporters, and insurers when buying, selling, and transporting goods. The 11 Incoterms rules outline trading partner obligations and the point in the journey where risk transfers from the seller to the buyer.
Lead Logistics
Providers assume many of the same roles as 3PL providers but have a broader scope within the supply chain. Also referred to as 4PL providers.
Incoterms®
Standard global trading terms and conditions issued by the International Chamber of Commerce to help traders, lawyers, transporters, and insurers when buying, selling, and transporting goods. The 11 Incoterms rules outline trading partner obligations and the point in the journey where risk transfers from the seller to the buyer.
Load Meter
One linear meter of loading space in a truck or trailer used for calculating freight cost when goods cannot be stacked. One euro pallet is equivalent to 0.4 load meters.
LTL, LTL Freight
Less than truckload freight is used when a shipment does not require a whole truck, and goods are shipped with other customers’ goods to reduce costs.
Robot Car
Also known as self-driving, autonomous, or driverless cars.
TEU
TEU stands for Twenty-foot equivalent unit, which is a standard unit of measurement used for describing the cargo carrying capacity of ships or the cargo handling capacity of shipping terminals. A single TEU represents the size of a standard 20x8x8 feet container, while a 40-foot container is equivalent to two TEUs.
WMS
A warehouse management system is a software application that supports and enhances the functionality of warehouses and distribution centers. WMS software allows businesses to manage inventory levels, optimize warehouse layouts, and streamline the movement of goods within the warehouse.
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