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LOGISTICS +
HODGEPODGE
ABBREVIATIONS
100
An entity that is created to leverage the purchasing power of a group of businesses to obtain greater discounts for each member.
What are Group Purchasing Organizations (GPO's)?
100
A measure which is of strategic importance to a company or department. For example, a supply chain flexibility metric is "Supplier On-time Delivery Performance" which indicates the percentage of orders that are fulfilled on or before the original requested date.
What is a Keep Performance Indicator (KPI)?
100
A series of codes and standards which govern written commercial material contracts for all transactions greater than $500.00 across all of the United States.
What is the Uniform Commercial Code (UCC)?
100
A common U.S. based term for determing when title and risk of loss transfers from the Owner to the Buyer and in this example, it is when leaving the factory.
What is F.O.B. Factory?
200
A service provider that provides outsourced logistics, warehousing and transportation that can be scaled to a customer's needs.
What is 3PL (Third Party Logistics)?
200
The process of planning, implementing and controlling procedures for the efficient and effective transportation and storage of goods, from the point of origin to the point of consumption, for the purpose of conforming to customer requirements. The definition includes inbound, outbound, internal and external movements.
What is Logistics?
200
The UCC can also be applicable for agreements below $500.00 if both parties agree, in advance.
What is True?
200
The combination of the purchase or acquisition price of a good or service and additional costs incurred before and after product or service delivery over the life of the product?
What is TCO (Total Cost of Ownership)?
300
The portion of a mobile service agreement that provides internet access and eMail access to users.
What is a wireless data service?
300
A series of quality assurance standards compiled by the Geneva, Switzerland-based International Stardization Organization. In the United States, this is represented by the American National Standards Institute based in Washington DC.
What is ISO 9000?
300
This series of codes and standards govern governmental as well as some commercial contracts across a wide spectrum of transaction types and categories.
What is the Code of Federal Regulations (CFR)?
300
The process by which an organization works with its supplier to accomplish common goals or objectives.
What is SRM (Supplier Relationship Management)?
400
A form of company credit card that allows goods and services to be procured without having to go through the traditional Purchase Order process.
What are P-Cards?
400
A detailed statement showing goods sold and amouts for each. This item is prepared by the seller and acts as the document that a buyer will use to make payment.
What is an Invoice?
400
In the absence of a specific statement in the contract, the codes and standards applicable to a contract come into effect when this happens?
What is "When the Contract is Signed by the Final Party"?
400
The computer-to-computer exchange of purchase orders, invoices and shipping notices in a standard format.
What is EDI (Electronic Data Interchange)?
500
A contractual agreement under which equipment is regularly maintained and repaired by a service provider.
What is a Maintenance Contract?
500
A decision making approach that considers maximization of total csots and recognizes the interrelationship among system variables such as transportation, warehousing, inventory and customer service.
What is a Total Cost Analysis?
500
In States or countries following this type of contract law, the intent of the parties is NOT acknowledged and the contract is interpreted literally?
What is Napoleonic Law?
500
System in which materials are purchased, transported and processed no earlier than required for their immediate use in a subsequent stage of the manufacturing process.
What is JIT (Just In Time)?