Logistician's glossary

FTL — full truckload. LTL — less than truckload. FCL/LCL — full/shared container. Multimodal — 2+ transport modes. Hub — a transit node.

CMR — road waybill. Bill of lading — sea waybill. TTN — consignment note. Invoice — supplier's bill. Declaration — customs document.

SKU — stock unit. FIFO/FEFO — issue order (by expiry). ABC analysis — inventory classification. Racking — vertical storage. Cross-dock — no-storage transit.

OTIF — on time in full. Lead time — order-to-delivery time. Fill rate — % of fulfilled lines. Cost per km — trip cost. Days of stock — demand coverage.

HS code — the duty classification. Importer of record — the liable party. Transit — customs-controlled movement. Tariff quota — a preferential-duty limit.

Incoterms — cost/risk split. Demurrage — port container delay. Detention — out-of-port delay. Deadhead — an empty leg. 3PL — outsourced logistics.