A Freight system glossary typically includes definitions for various terms, acronyms, and industry jargon that are commonly used in logistics, supply chain management, shipping, and related disciplines. These terms may encompass different aspects of the freight system, such as transportation modes, logistics processes, documentation, regulations, and more.
Having a comprehensive glossary can be beneficial for both professionals and newcomers to the freight industry. It helps ensure clear communication, minimizes misunderstandings, and facilitates effective collaboration among stakeholders involved in the movement of goods.
Some common terms you may find in a freight system glossary include:
- Freight Forwarder: A company or individual that specializes in managing and coordinating the transportation of goods on behalf of importers and exporters.
- Bill of Lading (B/L): A legal document issued by a carrier to acknowledge receipt of goods and provide details about the shipment, including the terms and conditions of transport.
- Customs Broker: An individual or firm that assists importers and exporters in meeting customs requirements and facilitates the clearance of goods through customs.
- Incoterms®: International commercial terms developed by the International Chamber of Commerce (ICC) that define the responsibilities and risks between buyers and sellers in international trade transactions.
- Logistics: The process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption.
- Warehousing: The storage of goods in a facility (warehouse) for a certain period before they are transported or distributed to their final destination.
- Supply Chain: The network of organizations, resources, activities, and technologies involved in the production, transportation, and delivery of goods and services to end customers.