Glossary: Terms from logistics and the supply chain

Supply Chain | Keep the overview with the REMIRA Supply Chain Glossary!


EDI - Electronic Data Interchange

The term EDI (Electronic Data Interchange) describes the process of electronic data exchange between two companies.

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The term Just-In-Time (abbreviated "JIT") refers to a strategy within a company's production in which materials are delivered to the place where they are currently needed at a specific time.

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As soon as purchasing is handled strategically in a company, this can be described as supplier management. Supplier management includes, among other things, the selection of suppliers, the development and maintenance of a supplier base, the evaluation and sorting of suppliers up to cooperation agreements as well as the inclusion of suppliers within the value chain.

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Stock reduction

Stock reduction aims to eliminate excess stock from the warehouse, effectively freeing up space in the warehouse and making the best use of existing capacity.

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Supply Chain Management

In logistics, supply chain management (SCM) refers to the optimized control of the flow of goods and services and encompasses all processes during which raw materials are transformed into end products. SCM is thus responsible for the cross-company development and management of the flow of goods.

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Third Party Logistics (3PL)

The abbreviation 3PL stands for Third Party Logistics and refers to logistics service providers who take care of the transport and storage of their customers' goods and also provide other services such as order processing, invoicing or customs clearance.

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Transportation Management

The term "transportation management" refers to the management, control, and optimization of all transportation processes along the supply chain.

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Vendor Managed Inventory (VMI)

With vendor managed inventory, the supplier takes over inventory management and replenishment planning at the customer's site. The supplier therefore decides when the customer must receive which goods.

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