Supply Chain & Logistics Glossary
Supply chain and logistics professionals speak their own language. Here’s your guide to cracking the code.
What Is JIC (Just-in-Case Inventory)?
Just-in-case inventory (JIC) is an inventory management approach where organizations hold extra inventory as a safety buffer to prevent stockouts or disruptions.
What Is JIT (Just-in-Time Inventory)?
Just-in-time inventory (JIT) is the opposite of JIC. JIT is an inventory management approach that produces or delivers goods or parts just in time to meet customer demand, minimizing excess inventory and associated costs.
What Is a KPI (Key Performance Indicator)?
A key performance indicator (KPI) is a Quantifiable metrics businesses use to evaluate the performance and effectiveness of supply chain processes, such as on-time delivery, inventory turnover or order accuracy.
What Is Kitting?
Kitting is the process of assembling individual components or items into a single kit or package for efficient distribution or production.
What Is Landed Cost?
Landed cost is the total cost of a product, including purchase price, transportation, customs duties, taxes and other expenses incurred until it reaches its final destination.
What Is Lead Time?
Lead time is the time it takes for an order to be fulfilled from the moment it is placed until the customer receives it.
What Is LTL (Less Than Truckload)?
Less than truckload (LTL) is a shipping method that combines goods from multiple shippers into a single truckload, optimizing transportation costs for smaller shipments.
What Are Live Roller Conveyors?
Live roller conveyors are conveyor systems with motorized rollers that move items along a conveyor line, commonly used in warehouses and distribution centers.
What Is Logistics?
Logistics is the process of planning, implementing and controlling the efficient flow of goods, services and information from point of origin to point of consumption.
What Is Machine Learning?
Machine learning is a subset of artificial intelligence that enables systems to learn from data and improve their performance over time without being explicitly programmed.
