Shipping refers to the movement of physical goods from one point to another. Examples may include – moving merchandise from a warehouse to the customer.
This process follows the manufacturing, processing, and packaging of goods, which is controlled and managed by a shipping or logistics company.
On the other hand, Logistics is used more widely to refer to the process of moving resources – inventory, people, equipment, and materials from one location to the desired destination.
Shipping & Logistics Terms
Here are some of the shipping and logistics that one should know about. They are:
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Landed Cost
The landing cost is the overall cost of purchasing and transporting goods. It is the whole cost a retailer incurs up until the time they acquire the goods.
Shipping costs, customs taxes, insurance, and overhead costs are some of the frequent fees involved.
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Consignee
A person or business to whom freight is delivered. a receiver of freight.
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Freight Bill of Lading
A written agreement outlining the responsibilities of both parties between a shipper and a carrier for the carriage of freight acts as a receipt for the shipper from the carrier for the freight commonly used to indicate both the consignee and the FOB point.
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FCL
A full container-load cargo is a term used in the ocean shipping and intermodal industries to describe when a shipper contracts for the delivery of an entire container.
This is how contracts are made for the vast majority of intermodal and maritime freight. Full carload, the main line of commerce for all modern railroads and the railroad counterpart of TL trucking, is also known as FCL historically.
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LCL
A word used in the ocean and intermodal transport sectors; LTL’s container shipping equivalent. Ports’ container freight stations function as terminals for consolidation and deconsolidation.
Less-than-carload was another name for LCL in the past. Less-than-carload (LCL) service was provided by railroads prior to the rise of interstate transportation, but this industry has all but vanished.
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3PL
A logistics provider contracted by a third party. a business to whom outsourcing of logistical services is done.
Purchases, inventory management/warehousing, transportation management, and order management are often handled by this department. For instance, UPS Logistics, Schneider Logistics, and Ryder Logistics.
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Carrier
A business that offers transportation services and often owns and operates vehicles. Trucking companies, railroads, airlines, steamship lines, and parcel/express companies are a few examples.
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Shipment
It is the process of sending goods somewhere. People are required to pay for the goods beforehand.
For example: When you order something, a message appears like – origin post is preparing shipment. That means that the seller is readying the product to be delivered to your location.
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Cross-Dock
Receiving location where goods are transported straight from the pier for outbound shipments to the inbound dock, with just brief periods of storage required for loading and unloading.
There is no long-term storage offered. Usually only employed when moving vehicles. Frequently owned and run by significant shippers. Examples include Home Depot, dining establishments, and busy airports.
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Tendered For Delivery
After you have ordered something online if the message shows – tendered to delivery service provider, then that means that the parcel is ready for shipping.
It means that your parcel is already is dispatched and is on the way to be delivered.
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COD (Change Of Destination)
After the containers have loaded and the ship has sailed, a COD or Diversion is the process of changing the final destination city from what was originally booked.
Although the ship may still be docked in many circumstances, once activities have begun and the containers have been loaded, the COD process must be requested in order to change the route at this time.
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Supply Chain
The management of the flow of goods and services between businesses and locations in the commercial world is known as supply chain management.
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UPC (Uniform Product Code)
The term “UPC,” or “universal product code,” refers to a specific kind of code that is written on retail goods packaging to help identify a specific item.
There are two components to it: the barcode that is machine readable , which is a pattern of distinctive black bars, and the distinctive 12-digit number below it.
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Rapid Freight
The fba shipping rapid express freight allows express delivery of products to the customers.
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VAT
A value-added tax, often referred to as a goods and services tax in some nations, is a kind of tax that is imposed gradually.
At every stage of manufacture, distribution, or sale to the final customer, it is added to the cost of a good or service.
For example when you make a payment on Amazon for your order, it usually includes this VAT tax too.
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API
Application Programming Interface, or API, is a collection of standards and programming guidelines for utilizing web-based software applications that enable platform-to-platform communication.
To Wrap It Up!
All in all Logistics and Shipment both go hand in hand. Both are crucial for each other. The above mentioned logistics terms n the article are all important to know.
Thank you for reading up till here! I hope you found the information useful.