Glossary
Discover definitions, key responsibilities, advantages, and scenarios. Enhance your industry knowledge with clear, concise explanations.
A
- Air Waybill (AWB) An air waybill (AWB) is an important document for shipping goods by air, but what does it do and why is it essential. This article explains more.
- Approved Supplier List (ASL) An approved supplier list (ASL) ensures reliability, consistency and compliance in procurement. This page explains all you need to know.
B
- Bill of Lading (BoL) A bill of lading (BoL) is a document that a carrier issues to acknowledge the receipt of goods. This article explains more and looks into the different types of BoL.
- Bill of Materials (BOM) Discover the essential components, types, and best practices for managing a Bill of Materials (BOM) to streamline manufacturing and ensure production efficiency.
- BOM Management Find out about BOM management and its role in streamlining production, ensuring accuracy, reducing costs, and improving supply chain efficiency.
- Break Bulk This page contains a break bulk definition, providing detail on this method for transporting cargo that doesn’t fit into regular containers
C
- Capacity Allocation When you work with supply chains to create products, capacity allocation is essential to meeting your obligations and keeping all parties happy. This article explains more.
- Cargo Insurance Coverage Find out what is cargo insurance coverage and why it’s essential for protecting your goods during transit and mitigating risks in international trade.
- CBM Unit of Measure The CBM unit of measure is widely used in the shipping industry, but what is it, why do we use it and how do you calculate it?
- CFR (Cost and Freight) Learn all about the CFR (Cost and Freight) Incoterm: seller and buyer obligations, advantages, disadvantages, and when to use it.
- CIF (Cost, Insurance and Freight) Learn all about CIF (Cost, Insurance, and Freight) Incoterm: seller-buyer obligations, advantages, disadvantages, when to use it, and more.
- CIP (Carriage and Insurance Paid To) Unpack the CIP (Carriage and Insurance Paid To) incoterm and learn about the key duties, benefits, challenges, and more.
- Conflict Minerals Conflict minerals are used to fund human rights abuses and armed conflict. This page explains what they are and the regulations to encourage sustainable sourcing.
- Consignee What is a consignee in shipping, what are their responsibilities and how do they differ from the consignor? This article explains.
- CPT (Carriage Paid To) Explore CPT (Carriage Paid To): Understand obligations, advantages, and when to use CPT in international trade, alongside FAQs on shipping and costs.
- Customs Bond Find out what is a customs bond and how it works as a financial guarantee in international shipping. This article explains more about the bond.
- Customs Clearance Fee Find out what the customs clearance fee is and why it’s charged in international shipping. Learn about the elements involved, who pays and who they pay.
D
- DAP (Delivered At Place) Explore the Incoterm DAP (Delivered At Place), including its definition, the responsibilities of buyers and sellers and when to use DAP in international trade.
- DDP (Delivered Duty Paid) Explore the Incoterm DDP (Delivered Duty Paid), including its comprehensive coverage, responsibilities of the seller and buyer, and suitable scenarios for its use.
- Demand Signal A demand signal helps you maintain a competitive advantage, serve your customers more effectively and manage inventory efficiently. This page explains what they are and how they work.
- DPU (Delivered at Place Unloaded) Discover the Incoterm DPU (Delivered at Place Unloaded), its definition, responsibilities of buyers and sellers, and how it differs from other Incoterms. Learn when to use it.
- Drayage Drayage is an important element of logistics, but what is drayage, what are the different types and what are the challenges?
E
- EMRT Find out more about the Extended Minerals Reporting Template (EMRT), a standardized reporting tool to collect sourcing information on certain minerals.
- EXW (Ex Works) Explore the EXW incoterm: Understand its key features, advantages, and when to use it in international trade for efficient logistics.
F
- FAS (Free Alongside Ship) Learn about FAS (Free Alongside Ship) Incoterm: responsibilities, considerations, examples, and frequently asked questions.
- FCA (Free Carrier) Discover the FCA Incoterm: A guide to its benefits, obligations, and ideal use cases in international shipping and logistics.
- FOB (Free On Board) Discover the definition of FOB (Free On Board) incoterm. Learn all about the seller and buyer responsibilities, potential risks, and when to use it.
- FOB Shipping Point vs. Destination Companies must consider whether to choose FOB shipping point vs destination when considering at which point the title of goods transfers to the buyer. This article explains more.
- Freight Forwarder A freight forwarder plays a key role in shipping and this page explains the roles and responsibilities as well as details of how they operate.
H
I
- IFB vs. RFP Companies face the choice of offering an IFB vs RFP. This article explains what they are, how they work and how to choose between them.
- Importer of Record (IOR) An importer of record helps a company import goods into a country in which it has no presence. This article looks into how an IOR works.
- Incoterms Understand each incoterm's roles, responsibilities and how they impact international and domestic contracts for the sale of goods.
- Indirect Material An indirect material is relevant to businesses and has a role within procurement. This article explains more about what an indirect material is.
- Invitation to Bid (ITB) An invitation to bid (ITB) is a key element of procurement and this page explains more about how it works and the difference between an ITB and other methods.
J
L
- Lead Time Lead time is an important metric in shipping and logistics and this article explains more about what it is, what affects it and the importance of measuring lead time.
- Less than Container Load (LCL) Discover how less container load (LCL) shipping allows you to share container space for cost-effective international freight, including how it works ad the benefits
M
- MOQ (Minimum Order Quantity) MOQ (minimum order quantity) is a consideration for both suppliers and buyers, requiring strategy to manage to avoid a range of risks. Find out more here.
- Multi-Tier Supply Chain Visibility Multi-tier supply chain visibility involves understanding the actions of direct suppliers (Tier 1) as well as the suppliers of your suppliers. This article explains all.
N
O
P
- P2P Procurement P2P procurement (Procure-to-Pay) refers to the integrated, end-to-end process of procurement. This page explains how it works and why businesses use it.
- Palletization This page provides the palletization meaning and overview that you need to understand this integral part of the shipping process.
- Procure to Pay Procure to pay is a process that improves efficiency in procurement by giving companies increased control over negotiating payments. Find out more here.
R
- Request for Proposal A request for proposal (RFP) is an important document for procurement and this article explains what it means and how it works.
- RFI This article explores the use of an RFI in procurement, its purpose and benefits as well as how it builds strong supplier networks.
- RFP Bid Vendors submit an RFP bid to companies in order to take on projects, but what does it involve and how do you submit a bid?
- RFQ In Procurement An RFQ in procurement is a formal document sent by a buyer to suppliers, but how does it help the process and what does it involve? Find out on this page.
- RFx If you have ever wondered what is RFx in procurement, this article explains what it is, how it works and why companies use it.
- RoHS Compliance Read about RoHS compliance, an EU directive that limits the use of specific hazardous materials in electrical and electronic equipment.
- RoHS Material List The RoHS material list refers to restricted substances, and this page tells you what those substances are and why they are included on the list.
S
- Semiconductor Ecosystem Find out the key players in the semiconductor ecosystem, the stages the semiconductors go through and the key drivers in the market at the moment.
- Semiconductor Foundry A semiconductor foundry produces semiconductors for organizations, either in-house or for companies that do not manufacture their own. This article explains more.
- Semiconductor Raw Materials There are many semiconductor raw materials and you can find out what they are, what role they play and how they are sourced on this page.
- Semiconductor Sustainability As an industry, it involves intense resource use, but there are moves towards semiconductor sustainability and this page explains what they are and why they are important.
- Silicon Wafer A silicon wafer is a small but mighty component that is necessary for so much of how we live our lives. Find out more here.
- Single Source vs. Sole Source When it comes to sourcing strategies there is often the choice between single source vs sole source. This page explains the differences.
- Source to Pay (S2P) Source to pay is a digital process that businesses use to find, negotiate with and onboard suppliers for the procurement of goods. This page explains how it works.
- Strategic Sourcing This article provides a strategic sourcing definition and explains the benefits and challenges, how it works and how it differs from regular sourcing.
- Supplier Managed Inventory This page explains supplier managed inventory, which involves the supplier being responsible for managing and replenishing the buyer’s inventory.
- Supplier Risk Management (SRM) Understanding risks along the value chain is essential to smooth business operations. This page explains the importance of supplier risk management (SRM).
- Supply Chain Visibility Supply chain visibility refers to the ability to track parts, materials, products, and data as they move from suppliers to manufacturers to customers. Find out more.
T
- Take-or-Pay Contract Find out what a Take or Pay contract is, how it works, its benefits, risks and common use cases in the shipping and logistics world.
- Tapeout Tapeout is the final step in the integrated circuit (IC) design process, when the verified design files are sent for fabrication. Find out how it works here.
- Twenty-Foot Equivalent Unit (TEU) Container A twenty foot equivalent unit (TEU) container is one which meets an international standard for cargo capacity. This article explains everything you need to know.
U
V
- Vendor Code n procurement, using vendor codes is essential to run an effective supply chain. Read this page to find out how they work and best practices for using them.
- Vendor Management This page explores vendor management, meaning the process that companies use to organize the way in which they work with suppliers.
- Vendor Management Life Cycle The process of vendor management life cycle is essential to the management of supplier relationships. Find out what it involves on this page.
- VMI In Procurement VMI in procurement involves the supplier monitoring the buyer’s inventory levels and managing the replenishment process directly. This page explains more.
W
- Wharfage By understanding what wharfage is, international traders can better plan for expenses associated with importing and exporting goods through seaports.
- Will Call in Shipping Will call in shipping involves the customer collecting the item from an arranged location. This page explains more about the process and the operational considerations you should make.