There is some of the vocabulary you can find in the world of logistics. I will update the listing constantly.
Products are shared in three categories depending on their value and sale. Categories are managed differently.
Activity Based Costing,
Method to share products manufacturing costs in to different operations.
Automated Guided Vehicle,
Assemble to order,
Example computers can be made of parts that are held in stock and assembled to order. Assembled computers are not stored.
Acceptable Quality Level/Limit,
Bill Of Material,
Design To Order
Engineer To Order
Economic Order Quantity,
Enterprise Resource Planning System,
Full Container Load,
First Expired, First Out,
First In First Out,
Invitation For Bid,
Way to invite suppliers into bidding. See also RFQ.
Just In Time,
Products are not ordered in stock, instead they are ordered directly to production just in time.
Production method developed by Toyota. Based on production cards.
Updated naming for JIT. LEAN is heavily based on JIT and is kind of just simplified version of it.
Life Cycle Cost,
Less than (Car/)Container Load,
Last In, First Out
Multimodal Transport Operators,
Made To Order,
Make To Stock,
Product is made in stock without orders. Useful is we manufacture bulk product where is not much modification possibilities.
Material Requirement Planning,
Production planning system that calculates the need of material based on demand.
Manufacturing Resources Planning,
Developed from MRP but includes more data and calculations like cost management, forecasting and capacity planning.
Order Penetration point,
Point where order modifications can no longer be made.
Product Data Management,
Software where product sub-assemblies and part info is held. Includes all the product versions. Subcontractors can have access to data so that they can manufacture updated versions.
Radio Frequency IDentification
Identification system that is operated in radio frequencies. NFC tag is one solution of RFID. RFID can be used to identify and calculate products in warehouse, terminal or even grocery store.
Request For Information,
Phase before the tender to survey suppliers and their capacities to handle the contract.
Request For Quotation,
Way to invite suppliers in to bidding. Suits perfectly for standardized products that are easy to define and compare only prices. See also IFB.
Request For Tender,
Stock level where new order is made.
Rejectable Quality Level/Limit
Supply Chain Management,
Optimizing the whole supply and service chain of the products. Also name for some ERP-systems.
Production philosophy by Motorola to fight with Japanese JIT and TQM methods. Like its contestants it’s based on quality.
Stock Keeping Unit,
Every product in stock has it’s own code that is called SKU. All the color and size variations example of t-shirt must have it’s own code.
Total Cost of Ownership,
Method used in investment calculations. Every options ownership costs are calculated including all maintenance and repair costs.
Twenty Foot Equivalent Unit,
Unit that is used to measure capacity of ships and harbors. One unit equals one twenty foot container.
Theory Of Constraints,
Total Quality Management,
Production philosophy that is developed from JIT. Based on products quality.
Very Narrow Isle
Work In Process,
Usually value of semi-finished products is referred as WIP-value.
Warehouse Management System