Glossary of Supply Chain Terms – Glossary of Transportation

Logistic term definition In simple terms, logistics is generally the procedure of handling how resources are attaining, storing, and transporting to their endpoints. This term is similarly widespread in the business sector nowadays, mainly by companies dealing with manufacturers. This term also refers to the management of capitals and progression along the supply chain.Supply Chain Terms. In basic terms, logistics management’s objective is to have the proper sum of a resource or input at the correct time, getting it to the appropriate location in legitimate condition, and delivering it to the right inside or outside client. For instance, within the …

Understanding Cargo and Freight Insurance!

Cargo and Freight Insurance The supply chain is dependent on the shipment services of goods or products and accounts for a lot of revenue gained in most organizations. In the process of transportation, some goods may get damaged or even lost on deck. To counter such problems, insurance companies have come up with transportation mitigation measures that counter these problems. They have introduced cargo insurance, freight insurance, marine cargo, and air cargo insurance. Cargo insurance is a method of protecting shipments against losses that may occur in air, sea, or land transportation. This also includes physical damage or theft and loss …

Supply chain budget recommendations for 2021!

Supply chain budget 2021 Supply chain budget, COVID-19 has posed a set of new challenges that have seen a few supply chains rise, and unfortunately many falling in the semi-annual part of 2020.  A supply chain’s profitability will be determined and maintained by two key factors as follows: How each company handles its operational challenges The strategies that are important to solve the problems The internet has presented many opportunities during this pandemic season. For example, consumers have largely shifted to ordering goods and services online and receiving their deliveries at the comfort of their homes. Equally, companies have been …

FCL and LCL Difference between

What’s The Better Choice Products shipped via ocean freight make the journey inside those familiar steel shipping containers. But before the journey begins, the shipper faces an important question: FCL or LCL?  FCL stands for full container load, and as the name suggests, it refers to a shipment that occupies the entire space of a container without having to share it with other merchandise. LCL stands for less than container load. Sometimes referred to as groupage, LCL refers to shipments that take up only part of a container, which means your merchandise is shipped alongside merchandise from other shippers in …