Extra Flashcards
ABC
Activity Based Costing: Costing based on activities, assigning overhead costs to products.
Aggregated procurement
A method for selecing suppliers based on their capabilities rather than individual suppliers tendering for particular orders
Air trucking
Moving freight, which will be carried by air at some stage on its journey, by road
Bill of lading
Where the consignment comes from, what it contains, where it is going, how it is going to get there.
Directional imbalances
Mismatches in the volumes or types of freight moving in opposite directions in a freight market (leading to different freight rates being charges in opposite directions)
EDI
Electronic data interchange. Inter-company computer based exchange of data
Environmental separation index
An index that measures the difference between the working environments of oursourcer and outsourcee companies.
EXW
Ex works
FTK
Freight tonne kilometers, tonnes times distance
ISPS code
A mandatory security initiative which came into force on 1 July 2004 and applies to all countries that are members of the International Maritime Organisation
Material substitution
Substitition of materials by virtual product
NVOCC
Refers to companies who consolidate smaller shipments from various consignee into full contrainer loads which the NVOCC then takes responsibility for.
Total landed cost
The total cost associated with sourcing and receiving products form another location.
TPS
Toyota Production system
Transaction exposure:
Exposure to potential financial loss as a result of trading in another currency
