Unit 2: Logistics services Flashcards
1
Q
Logistics services
A
specialize in providing quality 3rd party logistics management solutions to carriers that want to achieve greater efficiency in their supply chain
2
Q
3PL
A
- 3rd party logistics is a provider of outsourced logistics
- an arrangement in which firms with long and varied supply chains outsource their logistics operation to 1 or more specialist firms, the 3PL
3
Q
RFID
A
- Radio Frequency Identification
- wireless use of electromagnetic waves transfer data, identify and track tags attached to an object
4
Q
Track and Trace
A
- process of determining current and past locations, other information about an item/property in logistics and distribution
5
Q
Order picking
A
- warehouse activity in which a small number of goods are extracted from a warehousing system in order to satisfy individual customer orders
- the most labor- intensive and costly activity in every warehouse
- estimated to be 55% of total warehouse expense
6
Q
Cross-docking
A
- goods/products are distributed directly from the manufacturing plant to the customer or retailer with marginal or no handle/storage time, which saves handle and storage costs
- eg vegetables are picked, packed and directly transported to supermarket shelf
7
Q
Reverse logistics= Inbound L.
A
- flow of surplus, unwanted materials from the manufacturer to the supplier
- flow of products from distribution center to manufacturer
- for recycling, reusing, disposal
- reasons: unwanted, surplus of materials a d component parts, good arent sold or have errors (substandard, harmful components), goods can be called back, recycling products, reuse of packaging and containers, disposal of product waste
- supplier provides materials, component parts to the manufacturer
- manufacturer makes products and gives it to the distribution center
- distribution center sells it to wholesalers (B2B), retailers (B2C), end-consumers
- providing way= outbound, returning= inbound
8
Q
Non Vessel Operating Common Carrier (NVOCC)
A
- shipment consolidator/ freight forwarder who doesn’t own any vessels but still functions as a carrier by issuing own bill of ladings or air bills and taking responsibility for the shipment
- web-based tracking of cargo, homemade textiles, customized solutions
9
Q
FCL
A
- Full Container Load
- shipment method under which 1 cargo owner books the whole container for his shipment
- cargo does not have to be fully loaded
- freight forwarder, courier, economic delivery, haulier
10
Q
Value added services
A
- services for customers in order to satisfy them
- labelling
- wrapping
- free delivery
- discount for wholesale
11
Q
End-to-end
A
- term used in many areas
- refers to beginning and end of a method, process
- philosophy: reduce as many layers, steps in between as possible in order to improve performance and efficiency in any process
12
Q
Profit margin
A
- part of a category of profit
- net income/revenue= net profit/ sales
- net profit/income= TC-TR
- cost for rent, labor, overheads/management, depreciation (machines wear out and lose value)= operating costs
13
Q
Customs brokerage
A
- clear goods through customs
- prepare documentation for the goods to be im/exported
- Bill of lading, certificate of origin/im+export, and others depending on the system
- can be submitted electronically
- calculation of taxes, duties, excises (tax a company has to pay based on their registered capital)
- communication between governments and im/exporters
14
Q
Pick and pack services
A
- include picking an order out of stock and pack it for efficient shipping to end- consumer
15
Q
Literature fulfilment
A
- printing fulfilment
- process involves storing, gathering, packing, distributing printing materials, eg magazines, postcards, etc
