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Spring LIA Vocabulary set 1

AB
Bill of LadingThe most important single transportation document that is basic operating document in the industry
DemmurrageA charge assessed by rail carriers to users that fail to unload and return vehicles or containers promptly
RoutingThe process of determining how a shipment will move between consignor and consignee or between place of acceptance by the carrier and place of delivery to the consignee
Weight BreakThe shipment size that equates transportation charges for different rates and weight groups
ExpeditingThe need to rpidly move a shipment to its final destination
Free trade zoneAn areaq, usually near a port or an airport, where goods can be stored or processed before entering through the importing nation's customs inspections
MaquiladorasManufacturing plants that exist just south of the U.S. and Mexican border
Empowerment zoneCreated by the U.S. Department of Housing and Urban Development to encourage business development-through various tax credits-in economically depressed portions of citites.
Weight-gaining productsA product that gains weight in processing; the processing point should be close to the market
Expatriate WorkersEmployees who are sent to other countries for extended periods of time.
Fixed Order Interval SystemInventory is replensished on a constant, set schedule and is always ordered at a specific time; the quantity ordered varies depending on forecasted sales before the next order date.
Inventory ShrinkageRefers to the fact that more items are recorded entering than leaving warehousing facilities
Speculative StockInventory that is held for several reasons such as seasonal demand, projected price increase, and potential product shortages.
NodesFixed facilities, such as a plant, warehouse, or store, in logistics system.
ABC AnalysisConcept that recognizes that because inventories are not of equal value to firm, they should not be managed in the same way.


Business Educator
Tri-County High School
Wolcott, IN

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