Logistics Terms to Know. Mastering Key Logistics Terms.Upgrade your Knowledge.

Basic Logistics Terms and Explanations
Logistics is the process of planning, implementing, and controlling the efficient flow and storage of goods, services, or information from point of origin to point of consumption. Here are some key terms you'll encounter:

Core Logistics Terms
-Inbound Logistics: The movement of materials and supplies from suppliers to a manufacturing facility.
-Outbound Logistics: The movement of finished goods from a manufacturing facility to customers.
-Reverse Logistics: The process of moving products back from customers to the manufacturer or supplier, often for returns, repairs, or recycling.
-Supply Chain Management (SCM): The management of the entire flow of goods and services, from raw materials to finished products, and from suppliers to customers.
Transportation Terms
-Truckload (TL): A shipment that fills an entire truck trailer.
-Less Than Truckload (LTL): A shipment that occupies less than a full truck trailer and is consolidated with other shipments to fill the trailer.
-Intermodal Transportation: The use of multiple modes of transportation (e.g., rail, truck, ship) for a single shipment.
-Just-In-Time (JIT): A strategy that aims to have materials arrive at a manufacturing facility just as they are needed, reducing inventory costs.
Inventory Management Terms
-Inventory: A stock of goods held by a business to meet demand.
-Stock Keeping Unit (SKU): A unique identifier for a specific product.
-Economic Order Quantity (EOQ): The optimal quantity of a product to order at a time to minimize inventory costs.
-Lead Time: The time it takes to receive an order after it has been placed.
Warehousing and Distribution Terms
-Warehouse: A building used for storing goods.
-Distribution Center: A warehouse that is specifically designed for efficient handling and distribution of goods.
-Cross-Docking: A process of transferring goods from one truck to another without storing them in a warehouse.
-Pick and Pack: The process of selecting products from inventory and preparing them for shipment.
Other Logistics Terms
-Freight Forwarder: A company that arranges transportation for international shipments.
-Customs Broker: A licensed professional who helps businesses navigate customs regulations.
-Third-Party Logistics (3PL): A company that provides logistics services to other companies.
-Logistics Service Provider (LSP): A broad term that encompasses various logistics providers, including 3PLs.
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