Glossary

Making a company's operations visible to all stakeholders.

quantifiable metrics used for measuring the company's performance and success in many different areas and situations. KPIs help the organization to focus on the primary key points.

"An RFP accounts for price but focuses on meeting the project quality or schedule requirements. The process of developing a proposal in response to an RFP can be very expensive for the bidder, and the project team should not issue an RFP to a company that is not eligible to win the bid" (Accettura, Bergsma, Boszak, Callaway, Cote, N. Doepker, Harbidge, Her, Hlushko,  Holmes, Knight, MacDowell, Marshall, McDougall, Prima & Story, 2021) CC-BY-NC-SA-4.0

"An RFQ focuses on price. The type of materials or service is well defined and can be obtained from several sources. The bidder that can meet the project quality and schedule requirements usually wins the contract by quoting the lowest price" (Accettura, et. al, 2021) CC-BY-NC-SA-4.0

A willingness and capacity to reshape supply chains when necessary.

The supply chain’s relative capacity to act rapidly in response to dramatic changes in supply and demand.

Creating consistency in the interests of all participants in a supply chain.

The number of products manufactured in one batch.

Supply chains that focus on the total value added to the customer as opposed to individual outcomes, such as speed or cost.

as extremely large sets of data or fast growing amounts of data from different sources that present industrial organizations with a variety of storage and analysis issues (Agarwal, Shiralkar, Aaher, & Jawade, 2021)

The contract between the exporter and the carrier, authorizing the carrier to transport the goods to the buyer’s destination; acts as proof that the shipment was made and that the goods have been received.

is mostly referred to as a cryptocurrency or digital money such as Bitcoin, Dogecoin, ripple etc. Blockchain is a decentralized digital ledger. Ledgers are used to keep a record of important things, financial or something else  (Agarwal, Shiralkar, Aaher, & Jawade, 2021)

The entity handling the physical transportation of the goods, such as UPS, FedEx, and DHL.

Documentation that declares the country from which the product originates.

Time elapsed during converting a line or machine from running one product to another.

The bill for the goods shipped from the exporter to the importer or buyer.

Competitive Advantage defines how different and superior you are to your competitors. It is usually achieved in the form of Low Cost Leadership or Differentiation.

Company's rivals in the market

The price paid for supply chain inputs.

The process of moving merchandise from the receiving dock to shipping dock for shipping without placing it first into storage locations.

A governmental agency that monitors imports and collects import duties on goods coming into the country.

Time taken from start of product to its completion.

The process to forecast consumer's demand in future.

The official forms that must be presented to satisfy the import and export regulations of countries and for payment to be processed.

Consumer side

countries

Exchange of business documents from computer to computer.

ERP systems provide an integrated and continuously updated view of core business processes using shared databases maintained by a database management system.

Businessmen

Activity of Setting up a business

Documents in custody of bank and taking effect only when specified conditions are met.

development

top management of a company

Sending the goods from originating country.

Documentation that provides the contact information of both the exporter and the importer (i.e., buyer) as well as a full description, declared value, and destination of the products being shipped.

A person or organization that sells products and services in foreign countries that are sourced from the home country.

A supply chain’s responsiveness to changes in customers’ needs.

"an unexpected event such as a war, crime, or an earthquake which prevents someone from doing something that is written in a legal agreement." (Cambridge dictionary, 2022)

A categorization of trucking transport when the entire truck is hired and delivered directly (Faramarzi & Drane, n.d.).

Company's expertise in different functions such as marketing and selling

A container which was made specifically for garments on hanger shipments created with a special system by using string or bar system (OOCL, 2022).

Gross Domestic Product

Some actors act at regional and local levels, others operate at national and some at a global level.

Receiving the goods in destination country.

A person or organization that sells products and services that are sourced from other countries.

Planning, Implementing, and Controlling the efficient, effective forward and reverse flow and storage of goods, services and related information inside a company.

means all devices, components, applications, systems that allow people and organizations to be connected and interact in the digital world (Pratt, 2019).

Documentation that shows the amount of insurance coverage on the goods and identifies the merchandise.

A container for various transports that ship or move freight or good or products via intermodal transportation travel internationally or domestically.

Tools used to analyze companies strenghts

Bi-lateral or Multi-lateral exchange of goods and services.

A linear area such as highways, railways, roads determined by transportation modes and crossing countries or territories.

is used to connect various devices through a network in order to sense and collect data around the world on the internet to process various intelligent applications with the aid of embedded systems, artificial intelligence (AI), various software and sensors (Agarwal, Shiralkar, Aaher, & Jawade, 2021)

Aggregate list of items, several goods in stock or stock of the product an organization produces for sale and the components that make the sale.

Managing the stock of goods in warehouse

The time gap between placing an ordering and receiving it.

A categorization of trucking transport which generally includes using several orders to increase the utilization of the truck (Faramarzi & Drane, n.d.).

A legal document issued by a bank at the importer’s (or buyer’s) request in which the importer promises to pay a specified amount of money when the bank receives documents about the shipment.

Purchased permission to export goods from a country.

Third party entities providing companies with various inbound and outbound logistic activities.

Planning, Implementing, and Controlling the efficient, effective forward and reverse flow and storage of goods, services and related information.

A system that ensures that the materials, labor, and equipment needed for production are at the right places in the right amounts at the right times.

products

Trade in goods only

Trade policies between multiple nations.

Specialized segment of the market

The process of delivering what was promised, when it was promised, and how it was pledged are key drivers of customer satisfaction

Planning, Implementing, and Controlling the efficient, effective forward and reverse flow and storage of goods, services and related information moving outside a company.

Purchasing from a foreign supplier

is the process or a situation when the company employs a third-party provider or organization to do some work instead of using its staff or resources (Cambridge University Press, 2022).

The process of selecting supplier and purchasing goods/services from them.

Company's specialization in manufacturing a single product or a single product category

The process that starts with customer demand.

The relative reliability of supply chain activities.

mean officially retrieving products from manufacturers or users to the place of origin because discovered defects can harm consumers or hinder performance or realize more cost-effective product production.

ability to respond quickly

The process of handling problem inventories.

backup inventory

The rate that measures quality of output.

work in progress

work-in-progress

A unique number given to products when they arrive in warehouses.

is a process of gaining goods or services from a particular place (Cambridge University Press, 2022).

The time duration from initiation to completion of the production and distribution process.

All the parties who participate in International Trade

participants

The goods or materials such as stationery, office equipment, plant, machinery, consumables, etc., available for use or sale.

Shortages or availability of less than required Inventory.

The act of storing something in a warehouse.

The use of supply chains as a means to create competitive advantages and enhance firm performance.

A system of people, activities, information, and resources involved in creating a product and moving it to the customer.

Environment friendliness

“causing, or made in a way that causes, little or no damage to the environment and therefore able to continue for a long time” (Cambridge dictionary, 2022)

Tax or duty paid on exports/ imports.

A secret technique used by company to manufacture its products

The act of moving goods from origin to destination using different modes such as air, land, sea and pipelines.

Core Competencies

Supplier side

Time during which a piece of equipment (such as a computer) is functioning or able to function (Mariam Webster, n.d.)

Persons working in Warehouses

An application that helps to monitor and handle the day-to-day tasks of a warehouse.

Storage area for goods.

The time spend on job for which a worker is paid salary.

WTO is a global organization that outlines rules to trade and all the member nations are bound to follow these rules.