Supply Chain Management
Supply ChainPlanning and coordinating the flow of goods, information, and money from sourcing to final delivery.
Example: coordinating suppliers, warehouses, carriers, and retailers.
Just-in-Time (JIT)
Supply ChainReceiving materials or producing goods only when needed, to reduce inventory costs and waste.
Example: a factory schedules parts to arrive shortly before assembly.
Intermodal Transport
Intermodal TransportMoving freight using two or more transport modes without handling the cargo inside its container when modes change.
Example: a container travels by ship, rail, and truck.
TEU
Intermodal TransportTwenty-foot Equivalent Unit, the standard measure of container capacity.
A 40-foot container is generally counted as two TEU.
Price Elasticity of Demand
EconomicsA measure of how responsive demand is to a change in price.
If price rises 10% and demand falls 5%, elasticity is −0.5.
Vehicle Routing Problem
Logistics OptimisationFinding routes for a fleet of vehicles to serve customers while meeting constraints and minimising cost.
Example: assigning delivery stops to trucks with limited capacity.
Travelling Salesman Problem
Logistics OptimisationFinding the shortest tour that visits each location once and returns to the start.
Example: choosing a single truck's visit order.
Slow Steaming
Maritime & EnvironmentSailing below a ship's design speed to reduce fuel use and emissions, with a longer transit time.
The trade-off is fuel cost versus delivery time.
Emission Control Area
Maritime & EnvironmentA sea area with stricter limits on air emissions from ships.
Ships may need cleaner fuel while sailing within the area.
Bill of Lading
Trade & ShippingA document issued by a carrier that records receipt of cargo and the terms of carriage.
It is part of the documentation used in international shipping.
Incoterms
Trade & ShippingInternational trade terms that define how buyers and sellers share transport obligations, costs, and risk.
Under CIF, the seller arranges freight and insurance to the destination port.
Freight Rate
Trade & ShippingThe price charged to transport a unit of cargo between two points.
Rates can be expressed per TEU, tonne, or cubic metre.
Customs Clearance
Customs & ComplianceThe process of declaring goods, providing documents, paying applicable duties, and getting import or export authorisation.
Example: filing an import declaration before a shipment reaches port.
Last Mile Delivery
Logistics OperationsThe final leg of a delivery, from a local hub to the recipient.
Parcel lockers and local couriers can help reduce last-mile cost.
Gantry Crane
Port & Terminal OperationsA bridge-like crane used to lift and transfer containers at a port or railway terminal.
Example: unloading containers from a train.
Berth Allocation Problem
Port & Terminal OperationsAssigning arriving ships to quay positions and service times to use port capacity efficiently.
A scheduling choice affects vessel waiting time.
