Glossary


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1) Logistics

The organization, integration and utilization of the resources and transportation infrastructure needed to achieve the efficient flow of materials and information over the entire supply chain, or within selected subsystems.  See also, Supply Chain, Supply Chain Management, Material Handling, and Third Party Logistics. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.

2) Material Handling

Material Handling is the movement, storage, control and protection of materials, goods and products throughout the process of manufacturing, distribution, consumption and disposal.  The focus is on the methods, mechanical equipment, systems and related controls used to achieve these functions. See also, Supply Chain, Supply Chain Management, Logistics and Third Party Logistics. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.

3) 3PL

Third Party Logistics, or 3PL is a business arrangement whereby logistics services, often including warehousing, are contracted to an independent business that specializes in such services and is not connected through direct ownership to the producer or factory requiring the service. See also, Supply Chain, Supply Chain Management, Logistics and Material Handling. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.

4) Supply Chain

The supply chain consists of the physical and communication paths connecting multiple, interrelated businesses.  Material, goods, products and information flow through these paths from their points of origin or source (often viewed as beginning with raw material) to the final end consumer. This flow is sometimes extended to include the eventual disposal, recycling or return of goods.  See also, Supply Chain Management, Logistics , Material Handling, and Third Party Logistics. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.

5) Supply Chain Management

Supply Chain Management is the integration and coordinated execution of all the business processes used to plan and execute the flow of material, goods, products and related information between the many sources and points of use throughout the supply chain in order to achieve the best overall, system wide performance in terms of total cost, on-time (just-in-time) delivery and minimum in-process inventories across the network of suppliers, factories and trading partners that comprise the supply chain.  See also, Supply Chain, Logistics, Material Handling, and Third Party Logistics. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.

6) Third Party Logistics

Third Party Logistics, or 3PL is a business arrangement whereby logistics services, often including warehousing, are contracted to an independent business that specializes in such services and is not connected through direct ownership to the producer or factory requiring the service. See also, Supply Chain, Supply Chain Management, Logistics and Material Handling. Note that all of referenced terms are highly interrelated and their definitions are frequently intermingled.