| A | B |
|---|
| Supply Chain | complex global network created by firm to connect vendors, suppliers, other third parties, and customers in order to achieve greater cost efficiencies and enhance competitiveness |
| Materials Management | timely mvmt of raw materials, parts, and supplies into and through the firm |
| Physical Distribution | mvmt of finished products from suppliers to customers |
| Systems Concept | concept of logistics based on notion that materials-flow activities are so complex that they can be considered only in the context of their interaction |
| Total-Cost Concept | decision concept that identifies and links expenditures in order to evaluate and optimize logistical activities |
| Trade-Off Concept | decision concept that recognizes interactions w/in decision system |
| Supply-Chain Management | connecting value-adding activities of company's supply side w/demand side |
| Just-In-Time Inventory Systems | materials scheduled to arrive precisely when they are needed on production line; minimizes sotrage requirements |
| Logistics Platform | vital to firm's competitive position, determined by location's ease and convenience of market reach under favorable cost circumstances |
| Land Bridge | transfer of ocean freight among various modes of land-based transportation |
| Sea Bridge | transfer of freight among various modes of ocean freight |
| Intermodal Movements | transfer of freight from one type of transportation to another |
| Liner Service | ocean shipping characterized by regularly scheduled passage on established routes |
| Bulk Service | ocean shipping provided on contract, either for individual voyages or for prolonged periods of time |
