Logistics Glossary

Find the most up to date definitions to all of the Penske Logistics terminology.

ABC Inventory Management
Accessorial Charges or Fees
Advanced Clean Fleet (ACF)
Advanced Shipping Notice (ASN)
Agility
Air Cargo
Algorithm
Alternative Fuel Vehicle (AFV)
Artificial Intelligence
Average Cost per Unit
Average Inventory
Avoidable Cost or Cost Avoidance
Backhaul
Backorder
Batch Picking
Benchmark
Benchmarking
Big Data
Bill of Lading
Bonded Warehouse
Bottleneck
Capacity
Capacity Management
California Air Resource Board (CARB)
Carbon Footprint Analysis
Cargo
Certificate of Origin
Circular Economy
Circular Supply Chain
Charging Network
Closed-Loop Supply Chain
Cobot
Committed Capacity
Common Carrier
Computer-Vision Technology
Consignee
Contingency Planning
Continuous Process Improvement (CPI)
Contract Carrier
Control Tower
Cost-to-Serve
Cross Dock / Cross Docking (XDK)
Customs Broker
Customs-Trade Partnership Against Terrorism (C-TPAT)
Cycle Counting or Cycle Inventory
Deadhead
Dedicated Contract Carriage or Dedicated Transportation
Direct-Store Delivery (DSD) or Direct-To-Store Delivery (DTS)
Distribution Center (DC)
Downstream
Drayage
Drop and Hook
E-commerce or Electronic Commerce (EC)
E-commerce Fulfillment
Electronic Data Interchange (EDI)
Empty Miles
Exception Management
Expediting or Expedited Shipping
First Mile
Fleet Management
Flow-Through Distribution
Food Safety Modernization Act (FSMA)
Four-Wall Inventory
Fourth-Party Logistics (4PL)
Freight Brokerage
Freight Consolidation
Freight Forwarder
Freight Management
Freight Service Provider
Full-Container Load (FCL)
Full Truckload (FTL)
Gantry System
Green Strategy
Greenhouse Gas Emissions (GHG)
Green Lane
Hub and Spoke
Inbound Logistics
Integrated Logistics
Intermodal Transportation
Inventory
Inventory Accuracy
Inventory Buffers
Inventory Carrying Cost
Inventory Days of Supply (for RM, WIP, PFG, and FFG)
Inventory Deployment
Inventory Management
Inventory Planning Systems
Inventory Turns or Inventory Turnover
Inventory Velocity
Just-In-Case (JIC)
Just-In-Time (JIT)
Just-In-Time II (JIT II)
Kaizen
Key Performance Indicator (KPI)
Kitting
Labor Management System (LMS)
Lane
Last Mile
Last Mile Delivery
Lead Logistics Partner or Lead Logistics Provider (LLP)
Lean
Less-Than-Truckload (LTL) Carriers
Live Unload 
Load
Loaded Call
Logistics
Logistics Service Provider (LSP)
Machine Learning (ML)
Material Handling Equipment
Materials Handling
Materials Management
Middle Mile
Milk Run
Multi-Client Warehouse
Network Design
Network Optimization
Network Planning
Omnichannel
On-Demand
On-Hand Balance
On-Time Delivery (OTD)
On-Time In-Full (OTIF)
One-Way Networks
Optimization
Order Picking
Outbound Consolidation
Outbound Logistics
Outsource
Over-The-Road (OTR)
Particulate Matter
Pick/Pack
Pick-to-Carton
Pick-to-Light
Pick-to-Trailer
Pick List
Private Carriage
Productivity
Public Warehouse
Quality Control (QC)
Rack
Racking
Radio Frequency (RF)
Radio Frequency Identification (RFID)
Real-Time
Receiving Inventory
Reefer
Renewable Diesel
Replenishment Stock
Returnable Container
Return On Investment (ROI)
Reverse Logistics
Risk Management
Risk Mitigation
Route Optimization
Scenario Forecasts or Scenario Planning
Scope 1 Emissions
Scope 2 Emissions
Scope 3 Emissions
Scorecard
Service Parts Logistics
Shared Dedicated Transportation
Shared Services
Shipper
Shipping Container
Shipping Lane
Six-Sigma Quality
Slotting
SmartWay Certification
Spot Demand
Spot Market
Stock Keeping Units (SKUs)
Supply Chain
Supply Chain Management (SCM)
Supply Chain Planning
Supply Chain Velocity
Sustainability
T-Call
Third-Party Logistics (3PL)
Third-Party Logistics Provider
Tonnage
Transparency
Transport Refrigeration Unit (TRU)
Transportation Management System (TMS)
Transportation Mode
Underutilization
Uniform Product Code (UPC)
Unitization
Upstream
Validation
Value-Added Services
Value Chain
Value Chain Analysis
Visibility
Warehouse
Warehouse Actions and Investments to Reduce Emissions (WAIRE)
Warehouse Control System (WCS)
Warehouse Location
Warehouse Management System (WMS)
Warehousing
What-If Scenarios
White Glove Logistics
Yard Management
Yard Management System (YMS)
Zero-Emission Vehicle (ZEV)
Zero Inventory
Zone Picking