VMI: Vendor Managed Inventory

VMI: Vendor Managed Inventory

GLOSSARY VMI: Vendor Managed Inventory Vendor Managed Inventory (VMI) is an inventory control system used by manufacturers, wholesalers and retailers that simplifies the supply chain process. It’s designed to move inventory as efficiently and cost effectively as...

TEU: Twenty Foot Equivalent Unit

GLOSSARY TEU: Twenty Foot Equivalent Unit A Twenty foot Equivalent Unit (TEU) is a standard measure for cargo containers. This standardized size has made it possible for different box sizes to be accommodated in loading and transport processes. It was devised based on...
VMI: Vendor Managed Inventory

Straight Bill of Lading

GLOSSARY Straight Bill of Lading A straight bill of lading, also known as a nonnegotiable bill of lading, is a commonly used document in the shipping and freight industry. It is a contract between an exporter and a carrier that proves ownership of the goods being...
VMI: Vendor Managed Inventory

SITC: Standard International Trade Classification

GLOSSARY SITC: Standard International Trade Classification The Standard International Trade Classification (SITC) is an economic classification system for global merchandise trade that was developed by the United Nations statistical office. It’s an important tool used...
VMI: Vendor Managed Inventory

Shipper’s Letter of Instruction

GLOSSARY Shipper’s Letter of Instruction A shipper’s letter of instruction is a formal document that logistics companies use to communicate instructions regarding a shipment from one party to another. It is typically generated by the person or entity...
VMI: Vendor Managed Inventory

PO: Purchase Order

GLOSSARY PO: Purchase Order What is a purchase order? Often abbreviated as PO or P.O., a purchase order is an official document that outlines the logistics of a financial transaction between a buyer and a supplier. It includes details such as the description,...