What are the terms in logistics?
Freight — An order that is transported from origin to destination. Freight-All-Kinds (FAK) — Pricing strategy that bundles multiple freight classes into a single class. Freight Bill — The invoice for a carrier shipment. Full Truckload (FTL) — A shipment on which an entire trailer is filled with product.30-Jun-2020
Supply chain management has five key elements—planning, sourcing raw materials, manufacturing, delivery, and returns.
What are the 7 R's of logistics?
The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.
What is FOB term?
FOB is a shipping term that stands for “free on board.” If a shipment is designated FOB (the seller's location), then as soon as the shipment of goods leaves the seller's warehouse, the seller records the sale as complete. The buyer owns the products en route to its warehouse and must pay any delivery charges.
ACS. Automated Commercial System. Food, Food Service, Supply Chain.
What are the 5 types of supply chain?
The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return.31-Aug-2020
Supply management is made up of five areas: supply planning, production planning, inventory planning, capacity planning, and distribution planning.
What is another term for supply chain?
The terms supply chain management (SCM) and business logistics management—or simply, logistics—are often used interchangeably.
The major cause of conflict for logistics and marketing interface is related to 5Ps (product, price, place, promotion and packaging) of marketing. Without the successful link of logistics and marketing, the firm may be unable to provide good customer service, resulting in dissatisfied customer or a lost sale.14-Jun-2019
What are the 5 areas of logistics?
The five elements of logistics
Therefore logisticians must understand and apply logistics Principles in managing logistics support, Logistics principles has eight principles those are : Logistics Intelligence, Objective, Generative logistics, Interdependence Simplicity, Timeliness, Forward Impetus and Security.
What are the 8 supply chain processes?
The Supply Chain Management Process includes the building blocks of Supply Chain Management are Strategic Planning, Demand Planning, Supply Planning, Procurement, Manufacturing, Warehousing, Order Fulfillment and Transportation business processes.
Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.07-Dec-2021
What are the 7 principles of procurement?
7. Principles of Procurement
cost, insurance and freight
What is FOB CIF and C&F?
A guide to shipping terms and incoterms Cost and Freight (CFR), Cost, Insurance and Freight (CIF) and Free on Board (FOB) are three of the terms included in the International Chamber of Commerce's International Commerce Terms (Incoterms).17-Dec-2016
Free Carrier
What does DCS stand for in logistics?
Destination Control Statement (DCS)
Required Delivery Date/Data. RDD.
What is RTF in supply chain?
RTF (Return To Forecast) Available Sales volume in response to Demand. RTF is composed of “On-Hand Inventory + Supply Plan (factory Inventory+ Production Plan+SOP)”.
What are the terms in logistics?