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A series of pre-defined commercial terms published by the International Chamber of Commerce relating to international commercial law.

The process of forecasting the demand for a product or service so it can be produced and delivered more efficiently and to the satisfaction of customers.

The ability of all supply chain stakeholders to access real-time data regarding the movement and status of goods and services.

A temperature-controlled supply chain used to preserve and transport perishable products.

An inventory management practice where the supplier maintains the inventory levels for the customer.

The process of a company increasing production of goods or services at the same part of the supply chain.

The practice of bringing manufacturing and services back to a company's original country from overseas.

A production methodology aimed at reducing waste within manufacturing systems without compromising productivity.

The use of blockchain technology to enhance transparency, security, and traceability in supply chains.

An inventory management strategy that aligns raw-material orders with production schedules to reduce inventory costs.

A phenomenon where small fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, manufacturer, and raw material supplier levels.

The process of moving goods from their final destination for the purpose of capturing value, or proper disposal.

Supply chain management focused on flexibility and responsiveness to changing market conditions and customer needs.

A ratio showing how many times a company's inventory is sold and replaced over a period of time. Calculated as

The practice of predicting future customer demand using historical data, market trends, and statistical tools.

The expansion of a firm's operations into other stages of the supply chain.

Continuous improvement of the supply chain through strategic planning and the application of technologies to increase efficiency and reduce costs.

The management of environmental, social, and economic impacts within the supply chain.

The process of coordinating the physical and informational flows within a supply chain to reduce redundancy and improve efficiency.

Incorporating environmental thinking into supply-chain management, including product design, material sourcing, and selection, manufacturing processes, and product distribution.

Outsourcing logistics and transportation services to a third-party provider.

The use of multiple modes of transportation, like ships, trains, and trucks, to move goods from origin to destination.

Utilizing digital technologies to improve and integrate the end-to-end processes in the supply chain.

A management approach to long-term success through customer satisfaction, focusing on continuous improvement of products and services.

The service of organizing shipments to get goods from the manufacturer or producer to a market, customer, or final point of distribution.

The process of determining the production capacity needed by an organization to meet changing demands.

The optimal order quantity that minimizes the total holding costs and ordering costs. Calculated with the formula

Ensuring that global trade activities comply with all relevant laws and regulations of the countries involved.

A firm that assembles and manages all logistics resources, capabilities, and technologies of an organization with its complement of third-party service providers.

A logistics procedure where products from a supplier or manufacturing plant are distributed directly to a customer or retail chain with marginal to no handling or storage time.

The identification, assessment, and mitigation of risks that could affect the supply chain.

Contracting out parts of the production or services processes to external partners.

Using electromagnetic fields to automatically identify and track tags attached to objects.

Procurement processes that respect and strives to improve the environmental and social impacts of the supply chain.

Procuring goods and services from suppliers worldwide to take advantage of global efficiencies.