The logistics world is full of special terms specific to the sector. Knowing these words is the key to understanding all warehouse processes. Discover our (small) Logistics Glossary in which 19 key terms are explained. From chartering to the FIFO method and rotating inventory, this Glossary will give you all the information you need to understand logistics better.
B
Barcode
A visual representation that can be scanned to collect data or information about a product.
C
Carrier
Company responsible for transporting goods from point A to point B.
Chartering
Means of transport hired to move goods. For example: lorry, train, boat, plane.
D
Delivery note
Document summarising the products shipped and accompanied by the delivery.
F
FIFO
Or First In, First Out: inventory management method where the first products in are the first to go out.
I
Inventory
Periods when goods are counted to determine the company's stock levels at a given time.
Inventory management
Techniques and tools used to manage the quantity of goods available in order to avoid stock-outs or overstocking.
L
Logistics flow
Movement of goods and information through the various stages of the logistics chain.
O
Order
Document indicating the name and quantity of products ordered by the customer.
Order preparation
Selection and packaging of customer order products for dispatch.
P
Packing
Products are grouped and protected in parcels for shipment. Action of "putting into a parcel".
Picking
Process of selecting and collecting products from the order to send for preparation.
Procurement
The process of planning, ordering and receiving goods.
R
Rotating inventory
A method where stocks are counted regularly and periodically.
S
Safety stock
Additional quantity of goods to be used in the event of unforeseen circumstances (high demand, delivery delays, etc.).
Supply Chain
The processes involved in moving and managing goods from supplier to customer.
Supply Chain Management (SCM)
Management software used to process and optimize all processes, flows of goods and information throughout the supply chain.
T
Traceability
Recording and tracking of batch/serial numbers as products move from production to delivery.
W
Warehouse Management System (WMS)
Management software used to optimise stock management and logistics operations (stock movements, inventories, etc.).
Optimize your supply chain with Satelix
Understanding these terms not only gives you a better understanding of logistics operations, but also enables you to take advantage of specific tools such as a WMS. With Satelix Logistics, you can control your flow of goods, optimize product traceability, make inventories more reliable and make work in the warehouse easier.