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O S & D (Over, Short and Damaged)

A term used to describe a shipment that has been damaged or lost in transit or that arrives with more containers than originally shipped.

Oath of entry

In foreign trade, this term applies to a form which is required for the importation of goods into the country.

Object Linking and Embedding (OLE):

An object system created by Microsoft. OLE lets an author invoke different editor components to create a compound document.

Object Of Insurance

The goods in transport by sea, by land and by air, pursuant to a contract for sale and being forwarded by the Insurance Taker constitute the object of insurance.

Obsolescence cost

The decrease in value of inventory value resulting from the change in market value, or the introduction of more advanced substitutes, usually associated with time, is obsolescence cost. This cost results primarily in high-fashion goods, electronics, computers, and other industries of highly technical equipment with a high rate of innovation.(OB COST)

Obsolete Inventory 

Inventory for which there is no forecast demand expected. A condition of being out of date. A loss of value occasioned by new developments that place the older property at a competitive disadvantage.

Obsolete Inventory 

Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company.

Obsolete Stock

The products or materials that cannot be or is unlikely to be used in future processes and which is to be sold or disposed of through the usual outlets.(OB stock)

Ocean Bill Of Lading

A bill of lading issued by the ocean-going carriers.

Ocean Bill Of Lading

Under the Carriage of Goods by sea Act of 1936, the conditions to be printed in the ocean bill of lading were specified. This bill of lading serves the same purpose as the domestic bill of lading in most countries. It is a contract for carriage, receipt of goods shipped, and it provides evidence of ownership. The ocean bill covers only an ocean movement. It is not, in and of itself, intended to cover a combination of land and water movements.

Ocean route

The all-water transportation portion of a route.

Ocean Waybill

A document, issued by a shipping line to a shipper which serves as a receipt for the goods and evidence of the contract carriage.

ODIN

Origin-Destination Information versus Traffic Control, a DRIVE project.

Odometer

Device on the instrument panel to measure the total miles traveled in the course of the life of the vehicle.

Off Season

Refers to periods of low traffic of which special fares, etc., are utilised.

Off Shore

Contracting work carried out at sea (e.g. drilling for oil).

Off The Shelf

Systems and software programs that can be used as is, without further development or modification.

Offer

The first part of a contract creation. An offer is a form of power that a first party is giving to a second party to commit the first party to a requirement. In many ways a purchase order sent to a seller is a form of offer. If the seller acknowledges the terms of the purchase order, than an acceptance exists and a contract has been created.

Office Document Architecture/Office Document Interchange Format

An explicit document architecture and interchange format standard which allows exchange of compound documents (i.e., documents composed of various content types, such as character, raster graphics, and geometric (Computer) graphics content.

Official Air Cargo Tariff Circulars

A circular put out by the Air Tariff Publishers, Inc., specifying the requirement by state and federal governments for accepting and transporting special commodities. Used for the movement of livestock, human remains, gambling equipment, etc.

Official Airline Guide

An airline timetable guide published for air services throughout the world.

Official Development Assistance

Grants and loans that donors (the governments of rich countries) give to developing countries. According to a United Nations agreement, these donor governments agreed to contribute of 0.7 percent of their gross national product.

Official Log Book

The log of events happening at sea on the vessel includes deaths, births, marriages, accidents, fines, sickness, and other major actions involving the ship.

Official Number:

A registered number given to all merchant vessels and cut in on the vessel’s “main beam”, together with the net registered tonnage.

Official Railway Guide

A North American publication containing railroad information, distances between stations, names of officials and their addresses, and other major information.

Offline: 

Facilities and installations use by certificated air carriers for other than scheduled service.

Off-Route Points

Points located off the regular route highways of line haul carriers and served either on irregular schedules on deliveries of LTL freight or on truckloads only, whenever freight is available. For scheduled ocean liner service, these would be ports not served by a carriers but ones they could arrange for delivery of cargo.

Offset

The process of using an intermediate blanket cylinder to transfer an image from the image carrier to the substrate. Short for offset lithography.

Offshore

Contracting work carried out at sea (eg. Drilling for oil)

Offshore

This term, when used in this context, and when referring to a country, means a jurisdiction that offers financial secrecy laws in an effort to attract investment from outside its borders. When referring to a financial institution, “offshore” refers to a financial institution that primarily offers its services to persons domiciled outside the jurisdiction of the country in which the financial institution is organized.

Oil Bulk Ore Vessel

A vessel, designed for the carriage of either dry or liquid bulk cargo.

Omnibus Clause:

A clause in a hull policy extending liability cover to embrace, in addition to the assured’s legal liability, the liability of other organisations who are connected with the ship. It usually excludes liability of shipyards, repair yards and others to whom underwriters do not wish to extend cover.

On Board

Cargo has been loaded on board a combined transport mode of conveyance. Used to satisfy the requirements of a letter of credit, in the absence of an express requirement to the contrary.

On Board

Cargoes or containers landed onto the cargo hold or the cells of carriers.

On Board Bill of Lading

A bill of lading in which a carrier acknowledges that cargoes have been placed on board a certain vessel. The on-board date of bills of lading is the date on which liabilities of the carrier start.

On Carriage

The carriage of goods (containers) by any mode of transport to the place of delivery after discharge from the ocean vessel (main means of transport) at the port (place) of discharge.

On Consignment:

Goods sent for sale at the best prices that the consignee can realise on behalf of the consignor. An example is when a supplier sends goods to a customer(per an order), the customer holds them and pays for them as they use or sell them. This saves capital costs for the customer, but it means a delay in receipt of payment for the sellers. The benefit for the seller is the guarantee of eventual sale of the goods.

On Deck

A special stowage instruction to confine that the cargo stowage must be on deck rather than under deck.

On Hold

If the user wants to exclude any active account from daily functions, this account status should be assigned. The system will not include this account in any processes. However, the account will be included on any report.

On Line Ordering

Lacing orders for goods or services via the Internet, extranet, or email rather than by phone, fax, or mail.

On order

The quantity of goods that has yet to arrive at a location or retail store. This includes all open purchase orders including, but not limited to, orders in transit, orders being picked, and orders being processed through customer service.

On Shelf Availability

A customer service measure of what percent of demanded sales in a given period could be satisfied with the goods on hand.

On the Berth

A term denoting that a ship is ready to load or discharge cargo.

On Time In Full (OTIF)

Sales order delivery performance measure which can be expressed as a target, say, of achieving 98% of orders delivered in full, no part shipments, on the requested date.

On-Board Computer

Cab-mounted device which electronically or mechanically records data such as truck speed, engine rpm, idle time and other information useful to trucking management.

On-Board Computer

Cab-mounted device which electronically or mechanically records data such as truck speed, engine rpm, idle time and other information useful to trucking management.

On-Demand 

A term used to describe when labels are printed immediately when the customer needs them and are ready for use versus being sent off-site for printing.

On-Demand 

Pertaining to work performed when demand is present. Typically used to describe products which are manufactured or assembled only when a customer order is placed.

One Piece Flow

Moving parts through a process in batches of one

One to Many Purchasing

A system of buying where the customer announces to many suppliers what price it is willing to pay for a specific good or service and then waits until one or more of the suppliers accepts the offer.

One Way Pallet

A pallet that is designed and constructed so as to allow fork entry from only the back or front. Also, a pallet, which is considered expendable.

One Way Pallet

Pallet intended to be discarded after a single cycle of use. Note: The addition ‘One Way’ has nothing to do with the number of pallet sides in which the forks of e.g. a fork lift can enter, as opposed to the two and four way pallets.

One-Touch Exchange Of Die (Oted)-

A setup reduction goal that reduces the process to a single step, or one touch.

One-Way lease

The lease of containers that covers the outbound voyage only, after which the container is returned to the lease holder at or near destination agreed.

One-Way Networks

The advantages generally live with either the seller or buyer, but not both. B2C websites are one-way networks.

On-Hand Balance

The quantity shown in the inventory records as being physically in stock.

On-Hand Inventory

The physical or perpetual quantity of current inventory.

Online

A computer term which describes activities performed using computer systems.

Online

Transportation. Facilities and installations used in serving scheduled operations by the air carriers. Electronic Systems. A general term for access to information via electronic means.

On-line Charge

The charge which applies to carriage over the lines of a single carrier (aircargo). Synonyms: Local Charge, Local Rate, On-line Rate.

On-line Rate

The charge which applies to carriage over the lines of a single carrier (aircargo). Synonyms: Local Charge, Local Rate, On-line Chrage.

On-line receiving

A system in which computer terminals are available at each receiving bay and operators enter items into the system as they are unloaded.

Open Account

Credit and billing arrangement whereby the seller bills the buyer periodically and payments are made over time. As distinct from cash on delivery or collect where payment is to made upon delivery of the goods.

Open Account

Method of payment for goods. Seller and buyer agree on payment terms; freight and necessary documents are sent to buyer. The buyer generally has 60 to 90 days to reimburse the seller (with no interest charges). The seller carrys all the risk in this suitation.

Open and Prepay Stations

An official list of freight stations in the United States with information as to whether goods may be consigned collect or whether charges must be prepaid.

Open Charter

A charter in which neither the destination or nature of the cargo is specified.

Open Cover:

A form of long term cargo insurance contract. It has no aggregate limit but, subject to a limit to the amount at risk in any one vessel, and often a limit to the amount at risk in any one location prior to shipment, the contract covers all shipments forwarded by the assured during the currency of the open cover. Underwriters have the right to cancel at any time by giving the requisite notice of their intention to cancel, but shipments that have commenced transit before the notice period expires continue to be covered until final delivery within the terms of the transit clause.

Open Data-Link Interface

A standard interface, developed by Novell and Apple, that performs the same functions as NDIS.

Open Economy

An economy which has extensive and largely unimpeded transactions with other countries. Distinct from a closed economy that imposes severe trade restrictions.

Open Insurance Policy

A marine insurance policy that applies to all shipments made by an exporter over a period of time rather than to one shipment only.

Open Order

The quantity of goods still to be delivered, received, produced, issued, etc., for which the planned or agreed date has expired. The total number of customer orders which have been received but not yet been shipped.Synonym: Backlog.

Open Rate

A rate for a commodity by a liner ocean carrier that is subject to negotiation on liner traffic for each and every voyage. It is a rate that is not subject to review and approval by rate conference.

Open Routing

Situation in which a rate between two points applies over more than one route, any one of which can be used for shipping the goods or routing the passenger.

Open Side Container

Shipping container with frames with wire-mesh at the sides covered by means of a tarpaulin which can be dropped down to give unrestricted access to the sides of the container for loading or discharging.

Open Skies

An agreement between two nations that allows unrestricted or near unrestricted commercial flights between them by their flag carriers to and from any airport with customs and immigration facilities in the other countries. It is a form of modern deregulation. Japan and the United Kingdom are among the last hold outs of this form of deregulation in the world.

Open Station

Any station at which an agent of a carrier is located and to which freight may be shipped collect.

Open System

A system capable of communicating with other open systems by virtue of implementing common international standard protocols.

Open Systems Interconnection

A standard approach to network design developed by the International Standards Organization that introduces modularity by dividing the complex set of functions into more manageable, self- contained, functional slices.

Open Tender

A tender received a result of advertising for competitive tender.

Open Top Container

A container fitted with a solid removable roof or with a tarpaulin roof that can be loaded or unloaded from the top.

Open Top Container

A freight container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.

Open-to-Buy

A control technique used in aggregate inventory management in which authorizations to purchase are made without being committed to specific suppliers. These authorizations are often reviewed by management using such measures as commodity in dollars and by time period.

Open-to-Receive

Authorization to receive goods, such as a blanket release, firm purchase order item, or supplier schedule.

Operating Authority

Routes,points and other traffic that may be served by a carrier as granted by a regulatory agency.

Operating Cost

Recurring costs in transportation systems that include wages, salaries, taxed, insurance, and supplies, but not capital depreciation or interest payments.

Operating Differential Subsidy

A traditional maritime subsidy by many nations that compensates its flag carriers for the difference in operating costs as against those other country carriers operating in the same markets with lower cost operations. It is designed to protect and preserve that flag nation’s shipping capacity.

Operating Differential Subsidy

An amount of money the U.S. government paid U.S. shipping companies that qualify for this subsidy. The intent was to help offset the higher subsidy. The intent was to help ofset the higher cost of operating a U.S.-flag vessel. The ODS program is administered by the U.S. Maritime Administration and is being phased out.

Operating Efficiency

A ratio of the actual output of a piece of equipment, department, or plant as compared to the planned or standard output.

Operating Expense

The cost incident to the actual handling of traffic.

Operating Expense

The cost of handling freight or passenger traffic.

Operating Lease

Any lease that is not a capital lease is defined as an operating lease. These are generally used for short-term leases of equipment. An operating lease cannot violate any of the 4 criteria stated in a Capital Lease.

Operating Ratio

Operating costs divided by total costs( or total revenue).

Operating Ratio

The relation of operating expenses to gross receipts.

Operating Requirement

Any term is a contract with a supplier that requires to adhere to certain practices that would normally be within their management discretion of them. Example: transportation is to be performed only by ships of a certain flag.

Operating Revenue

Total money received by a carrier, from transportation and from operations incident thereto.

Operating Standards

Specific features in a transportation contract that the shipper seeks to have the carrier follow. Examples are hiring qualified drivers, adhering to hazardous requirements, and maintaining safe equipment. The same is found in purchase of goods and service contracts.

Operating System

An operating system (sometimes abbreviated as “OS”) is the program that, after being initially loaded into the computer by a boot program, manages all the other programs in a computer. The other programs are called applications or application programs. The application programs make use of the operating system by making requests for services through a defined application program interface (API). In addition, users can interact directly with the operating system through a user interface such as a command language or a graphical user interface (GUI).

Operation

An activity or event; the manner in which something works; a procedure or process; a military mission or campaign; or a state of functioning or performing.

Operation Of Straddle Carrier

Straddles pick and carry containers while straddling their load and connecting to the top lifting points. These machines have the ability to stack containers up to 4 high. These are capable of relatively low speeds (up to 30 km/h) with a laden container.

Operation Plan

A plan for a single or series of connected operations to be carried out simultaneously or in succession. It is usually based upon stated assumptions and is the form of directive employed by higher authority to permit subordinate commanders to prepare supporting plans and orders. The designation “plan” is usually used instead of “order” in preparing for operations well in advance. An operation plan may be put into effect at a prescribed time, or on signal, and then becomes the operation order.

Operation Sequence

The numerical designation in a routing that indicates the order in which operations are performed.

Operation Time

The elapsed time for an operation that includes setup and run hours, but does not include queue or move time.

Operational Audit

Sometimes called program or performance audits, examine the use of unit resources to evaluate whether those resources are being used in the most efficient and effective ways to fulfill the unit’s mission and objectives. An operational audit includes elements of a compliance audit, a financial audit, and an information systems audit.

Operational Performance Measurements

In traditional management, performance measurements related to machine, worker, or department efficiency or utilization. These performance measurements are usually poorly correlated with organizational performance.

Operations Research

It refers to the application of scientific methods, techniques, and tools to problems involving the operations of a system, to provide those in control of the system with optimum solutions to the problems.

Operations Research

The development and application of quantitative techniques to the solution of problems. More specifically, theory and methodology in mathematics, statistics and computing are adpated and applied to the identification, formulation, solution, validation, implementation and control of decision making problems.

Operator

The party responsible for the day to day operational management of certain premises such as ware-houses, terminals and vessels.

Opportunity Cost-

An implicit or explicit cost that exists whenever one alternative is chosen over another; the foregone benefit from choosing other than the beat alternative. If a firm has $1 million of inventory, but could invest in alternative money markets at, say 5-1/5%, then the holding of inventory incurs an opportunity cost to extent of the short term money market returns of invested cash. In this case it could be $150 per day.

Opportunity Sourcing

The practice of searching for and analysing suppliers with the intent of learning their offerings and capabilities without there being sourcing. The goal of opportunity sourcing is to discover potential suppliers with capabilities and technologies that the firm might be able to utilise in its own product innovation processes.

Opposed Switch

On a rail line a switch to another track or siding that can not be accesses by moving forward. And opposed switch requires a backward movement onto the track.

Optical Character Recognition

The ability of a computer to recognize written characters through some optical-sensing device and pattern recognition software.

Optical Disk

An unalterable optical storage medium that allows large amounts of data to be permanently written to it. An optical disk is read using laser and magnetic technology and has a useful life span of 100 plus years.

Optical Scanners

Reading devices usually used in material handling to automatically record and/ or affect sortation, stocking, picking, etc.

Optimal Trim

The best calculated TRIM related to speed engine capacity, fuel consumption for a specific sailing condition.

Optimisation

Achieving the best possible solution to a problem in terms of a specified objective function.

Optimiser

The part of a relational database management kernel that’s responsible for determining how the records required to execute a statement will be located and retrieved (the execution plan).

Optimising Model

A model or formula that results in an optimum(maximum or minimum) answer of the entire function.

Optimum Cube

The highest level of cube utilization that can be achieved when loading cargo into a container.

Optimum Value

Practice of purchasing the required quality items at the least total cost for the firm.

Option

One of a limited range of choices or features that if offered to a customer when purchasing an otherwise basic standard product and that has to be an integral part of the product (used in commercial trading).

Option

The permission to choose, or privilege of taking or delivering something at a given day and price.

Optional Cargo

Cargo not yet sold when delivered at a port are termed optional cargo.

Optional Cargo

Cargo of which the final destination is not known at the moment of booking but will be indicated during the transport.

Optional Port

A port of which it is not known whether or not it will be called by a vessel during a voyage.

Optional Replenishment Model

A form of independent demand item management model in which a review of inventory on hand plus on order is made at fixed intervals. If the actual quantity is lower than some predetermined threshold, a reorder is placed for a quantity M x, where M is the maximum allowable inventory and x is the current inventory quantity. The reorder point, R, may be deterministic or stochastic, and in either instance is large enough to cover the maximum expected demand during the review interval plus the replenishment lead time. The optional replenishment model is sometimes called a hybrid system because it combines certain aspects of the fixed reorder cycle inventory model and the fixed reorder quantity inventory model.

Oral Argument

In person presentation of evidence and other material before a court or regulatory body.

Oral Contract

A contract that was made orally and not reduced to writing.

Order

A request to deliver specified quantities of goods or to render specific services.

Order

An instruction to purchase; directions to deliver goods or to pay money.

Order and Commission Department

(Express) One of the nontrans-portational divisions of the Express service embracing the purchase of supplies, payment of taxes, execution of legal papers, analysing commercial conditions and locating new markets for shippers of fish, poultry, fruits and vegetables.

Order Batching

Practice of compiling and collecting orders before they are sent in to the manufacturer.

Order Bill Of Lading –

A form of bill of lading that can be used to sell (by the shipper) or affect payment (by the buyer) for the goods en route in the care of the carrier.

Order Call Off

An order placed with a supplier where a long term or all-encompassing contract is in effect. This is in place of a traditional requisition and purchase order system. Order call offs are often performed by persons inside the firm who contact the supplier directly.

Order Complete Manufacture to Customer Receipt of Order

Average lead time from when an order is ready for shipment to customer receipt of order, including the following sub-elements: pick/pack time, preparation for shipment, total transit time for all components to consolidation point, consolidation, queue time, and additional transit time to customer receipt. (An element of Order Fulfillment Lead-Time).

Order Consolidation Profile

The activities associated with filling a customer order by bringing together in one physical place all of the line items ordered by the customer. Some of these may come directly from the production line others may be picked from stock.

Order Cost

All of the costs associated with the clerical work of preparing an order, transmitting the order, following up the order, and recording receipt of the order. It does not include machine set-up costs for manufacturing, since that is a part of purchase price. It does not include the costs of physically handling the inbound order, since that is accounted for in: (1) storage in-and-out costs, or labor costs; and (2) transportation shipping and receiving costs.

Order Cycle

The time and process involved from the placement of an order to the receipt of the shipment.

Order Cycle

This includes the time and processes involved from the placement of the order to the receipt of the shipment. It includes the following processes: (1) communicating the order; (2) order processing; and (3)transporting the shipment. These are the functions performed in the lead time. It is similar to lead time.

Order Entry

The first part of data processing to enter an order or pickup in the computer system.

Order Entry and Scheduling

The process of receiving orders from the customer and entering them into a company’s order processing system. Orders can be received through phone, fax, or electronic media. Activities may include “technically” examining orders to ensure an orderable configuration and provide accurate price, checking the customer’s credit and accepting payment (optionally), identifying and reserving inventory (both on hand and scheduled), and committing and scheduling a delivery date.

Order Entry Complete to Start Manufacture

Average lead-time from completion of customer order to the time manufacturing begins, including the following sub-elements: order wait time, engineering and design time. (An element of Order Fulfillment Lead-Time).

Order For Service

The document authorizing the carrier to transport your household goods.

Order Fulfillment Lead Times

Average, consistently achieved lead-time from customer order origination to customer order receipt, for a particular manufacturing process strategy (Make-to-Stock, Make-to-Order, Configure/Package-to-Order, Engineerto- Order).

Order Interval

The time period between the placement of orders.

Order line

Each line on a customer’s purchase order. An order line always contains one Stock Keeping Unit (SKU) only, but the number may vary.

Order Management

The planning, directing, monitoring, and controlling of the processes related to customer orders, manufacturing orders, and purchase orders. Regarding customer orders, order management includes order promising, order entry, order pick, pack and ship, billing, and reconciliation of the customer account. Regarding manufacturing orders, order management includes order release, routing, manufacture, monitoring, and receipt into stores or finished goods inventories. Regarding purchasing orders, order management includes order placement, monitoring, receiving, acceptance, and payment of supplier.

Order Management Costs

One of the elements comprising a company’s total supply-chain management costs.

Order Note

An order note is similar to a promissory note. It embodies an obligation to pay amount due. Order notesare regularly used in financing arrangements involving a borrower. The legal value of an order note is twofold. It is prima facie evidence of a customer’s indebtedness.

Order Notify

A bill of lading term to provide surrender of the original bill of lading before freight is released; usually associated with a shipment covered under a letter of credit.

Order Number

It’s the number used to identify and track your shipment.

Order Picker

Mobile lift type equipment which allows the warehouseman to ride the pallet up and down to pick from various levels.

Order Picker Truck

a high-lift truck controlled by the operator stationed on a platform movable with the load engaging means and intended for manual stock selection. The truck may be capable of self-loading, of tiering or both

Order Picking

Selecting or “picking” the required quantity of specific products for movement to a packaging area (usually in response to one or more shipping orders) and documenting that the material was moved from one location to shipping.

Order Picking

The preparation of an order by the packer involving the packing according to the written order.

Order Point

A periodically or dynamically calculated quantity of stock against which available stock; (SOH) + on order – reserved stock) is continuously checked. When available stock equals or is less than order point a replenishment order is triggered.

Order Point Order Quantity System

The inventory method that places an order for a lot whenever the quantity on hand is reduced to a predetermined level known as the order point.

Order Point System of Inventory Control

An inventory control mechanism that causes a reorder when the level drops to a certain quantity of goods on hand.

Order Pooling

The combination of multiple orders for picking and loading, based on destination, size, priority and other parameters.

Order Processing

The handling of customer orders within the distribution centre; involving the keying of customer and order details into the computer system in order to produce invoices for picking.

Order Promising

The process of making a delivery commitment, i.e., answering the question, when can you ship? For make-to-order products, this usually involves a check of uncommitted material and availability of capacity, often as represented by the master schedule available-to-promise.

Order Quantity

The batch quantity of a part that the computer will plan to be made at one time whenever the projected available balance for that part falls below zero or the safety stock if there is one. If more than the Order Quantity is required the computer will plan in Multiples of the Order Quantity.

Order Receipt to Order Entry Complete

Average lead-time from receipt of a customer order to the time that order entry is complete, including the following sub-elements: order revalidation, product configuration check, credit check and order scheduling.

Order Release

The time and process required to evaluate requirements, create orders in a system and notify the source of supply.

Order Selector 

Lift truck designed specifically for manual handling of less than pallet load quantities in racking. Man-up design has fixed forks attached to a platform that elevates the load and the operator to facilitate manual loading and unloading from racking.

Order to Cash Cycle

The length of time required from when a firm receives an order from a customer all the way through to the date when it receives financial settlement from the customer.

Order Transparency

A term that means tha the progress of the order through the firm’s purchasing department, supplier’s order management system, their warehousing/manufacturing, etc. is completely visible or accessible easily by persons within the buying firm.

Order Up To

An inventory ordering policy used in periodic review systems whereby at certain points in time a check is made of an inventory level and an order is placed for a quantity that will bring that inventory level up to a predetermined quantity.

Ordinary

A vessel in the harbor is known as in ordinary.

Ordinary Breakage

Breakage of fragile cargo which by its regularity has become accepted as inevitable loss during transit.

Ordinary Livestock

Defined as all cattle, swine, goats, sheep, horses and mules, except such as are chiefly valuable for breeding, racing, show purposes and other special uses.

Ore Carrier

A large ship designed to be used for the carnage of ore. Because of the high density of ore, ore carriers have a relatively high center of gravity to prevent them being still when at sea, that is, rolling heavily with possible stress to the hull.

ORFS

Abbreviation for “Origin Rail Freight Station.” Same as CFS at origin except an ORFS is operated by the rail carrier participating in the shipment.

Organisation

An identifiable social unit with a particular responsibility which endeavor to achieve multiple goals by coordinated activities and relationships between members and objects.

Organisation

The working structure of a company, corporation, association, etc., to handle efficiently various branches of work. Transportation organisations are divided into departments such as the executive, financial, operating, traffic, etc.

Organisation For Economic Cooperation And Development (Oecd)

The Organisation for Economic Co-operation and Development (OECD) is an international organisation of those developed countries that accept the principles of representative democracy and a free market economy. It originated in 1948 as the Organisation for European Economic Co-operation (OEEC), to help administer the Marshall Plan for the re-construction of Europe after World War II.

Organisations For The Promotion Of Energy Technology

A network of organizations active in the promotion of technology, established in conjunction with theTHERMIE programme.

Organizing

The act of placing things in a particular order or arrangement.

Orginal Equipment Manufacturer (OEM)

A manufacturer that buys and incorporates another supplier’s products into its own products. Also, products supplied to the original equipment manufacturer or sold as part of an assembly. For example, an engine may be sold to an OEM for use as that company’s power source for its generator units.

Orientation

The alignment of a bar code symbol with respect to horizontal. Two possible rientations are horizontal with vertical bars and spaces (picket fence) and vertical with horizontal bars and spaces (ladder).

Origin

Location where shipment begins its movement.

Origin of Traffic

A point from which the traffic begins. The point or place which originates the traffic.

Original

Fist in order; that from which anything is copied. In commerce, the original bill of lading, original invoice, etc.

Original Bill of Lading

A document which requires proper signatures for consummating carriage of contract. Must be marked as “original” by the issuing carrier.

Original Bill of Lading

The one actually signed by the carrier and retained by the shipper; distinct from any of the copies or a facsimile copy.

Original Data

The source data utilized by a resource provider to construct their initial environmental representation.

Original Equipment Manufacturer (Oem)

A manufacturer that buys and incorporates another supplier’s products into its own products. Also, products supplied to the original equipment manufacturer or sold as part of an assembly. For example, an engine may be sold to an OEM for use as that company’s power source for its generator units.

Original Equipment Manufacturer (Oem)

The prime firm or brand of a product. Though thousands of suppliers make parts for automobiles, the OEM would be the brand manufacturer of the car.

Original Receiving Charges

A Terminal Handling Charge levied at ports of loading.

Out Of Gauge Cargo

Cargo which dimensions are exceeding the normal dimensions of a 20 or 40 feet container, e.g. overlength, overwidth, overheight, or combinations thereof.

Out of Pocket Cost

Those carrier costs directly attributable to the movement of the traffic.

Out Of Sequence

A production operation or project task begun before its predecessor has been started, as in activities reported against operation 40 on a routing when operation 20 and 30 have not been reported (assuming that operation backflushing is not being used). outlier- An observed value so far removed from the normal distribution that it may be considered an abnormality or one-time event, and is often not included in future calculations based on that set of data.

Out Of Stock

The state of not having inventory at a location and available for distribution or for sell to the consumer (zero inventory).

Out Of Stock

The stocks are not available for sale or use.

Out Port

A port or harbor located some distance from the chief port.

Out Turn

The quantity of cargo discharged from a ship.

Outboard

Away from the center fore-and-aft line of the vessel.

Outbound

Involving residents of a country traveling to another country. Also called Outgoing.

Outbound

Outbound bound. Direction of vessel or cargo going out from port of loading or point/place of receipt.

Outbound consolidation

Consolidation of a number of small shipments for various customers into a larger load. The large load is then shipped to a location near the customers where it is broken down and then the small shipments are distributed to the customers. This can reduce overall shipping charges where many small packet or parcel shipments are handled each day.

Outbound Logistics

‘Outbound Logistics’ is the part of the supply chain process, such as custom assembly or private labelling, that moves, stores, and adds value to goods on the way to their final destination. It sits between supply-side processes such as purchasing and materials management and demand considerations such as sales, marketing, order-taking and customer service.

Outbound Logistics

The process related to the movement and storage of products from end of the production line to the end user.

Outgate

The process of checking a container or trailer out of an intermodal facility. The process includes inspection of the unit, input of data into a computer system.

Outlet

A supply chain term for any final firm in the cycle that sells to the ultimate use or customer.

Outlier

A data point that differs significantly from other data for a similar phenomenon. For example, if the average sales for a product were 10 units per month, and one month the product had sales of 500 units, this sales point might be considered an outlier.

Outpartnering

The process of involving the supplier in a close partnership with the firm and its operations management system. Outpartnering is characterized by close working relationships between buyers and suppliers, high levels of trust, mutual respect and emphasis on joint problem solving and cooperation. With outpartnering, the supplier is viewed not as an alternative source of goods and services but rather as a source of knowledge, expertise and complementary core competencies. Outpartneing is typically found during the early stages of the product life cycle when dealing with products that are viewed as critical to the strategic survival of the firm.

Out-port Arbitrary

An extra charge in steamship tariffs for picking up or dropping off freight at a port that is not a regular stop along a liner’s route.

Output

Output is the end result of converting electronic art files into the prepress materials used for printing production. Imagesetters output film negatives or film positives which are used to make printing plates. Platesetters output the printing plates used on the press.

Outright

An order to buy or sell only one specific type of futures contract; an order that is not a spread order.

Outside Dimensions

The outside dimensions of a container or package. In drums it is measured by the diameter over the rolling hoops.

Outside Operation

A routing operation performed by a vendor instead of using internal resources. Outside operation costs are often quoted in terms of lots or units processed, and material used may either be transferred from the customer facility or drop shipped from another vendor but is owned by the customer. 

Outsider

A carrier, which operates on a route served by a liner conference but which is not a member of that conference.

Outsource

To utilize a third-party provider to perform services previously performed in-house. Examples include manufacturing of products and call center/customer support.

Outsource

Turning a company operation or assets over to another firm for them to supply or manage. Distinct from access which is to seek something from an outside firm in a close relationship manner for which the firm is not capable of performing on its own and has a critical need for it.

Outsourced Cost of Goods Sold

Operations performed on raw material outside of the responding entity’s organization that would typically be considered internal to the entity’s manufacturing cycle. Outsourced cost of goods sold captures the value of all outsourced activities that roll up as cost of goods sold. Some examples of commonly outsourced areas are assembly by subcontract houses, test, metal finishing or painting and specialized assembly process.

Outturn

Total volume of wood recovered from felling

Outturn Report

Written statement by a stevedoring company in which the condition of cargo discharged from a vessel is noted along with any discrepancies in the quantity compared with the vessel’s manifest.

Outward Handling

The operations to be performed on outgoing goods from a production unit, both administrative and physical, starting at the moment forwarding orders can be executed to the moment of actual departure of the goods.

Over Designed

A term that signifies that a firm’s specification for a particular goods is more elegant than is necessary for the purpose for which the item is intended to perform in use. It is a target of standarisation efforts.

Over Flights

Aircraft flights over a country by planes of another country. This is typically done by way of prearranged agreements.

Over Freight

When freight is in the possession of a carrier without waybill or identifying marks it is normally referred to as over freight.

Over Invoicing

A practice sometimes found when a seller is exporting goods to firm in a country with a closed or weak currency. The tactic is to show a higher price than normal for the goods being moved. The buyer then converts their local currency into U.S. dollars or other hard currency. Upon shipment and cash settlement, the seller receives the gross sum payment. He/she keeps the proper sales amount and deposits the excess in a bank account inside their hard currency country the belongs to the buyer.

Over The Counter

the buying and selling of securities that are not listed on an organized exchange. Trading is handled by dealers through negotiation rather than through the use of a stock exchange’s auction system.

Over The Road Carrier

A motor carrier operation that reflects long-distance, intercity moves; the opposite of local operations.

Over Without Bill

Freight without its bill of lading or freight bill.

Overage

Excess shipment over the quantity believed to have been shipped, or more than the quantity shown on the shipping document.

Overage

The extent that the freight exceeds that on the shipping document or the quantity to have been believed shipped.

Overall Equipment Effectiveness (OEE)

A measure of overall equipment effectiveness that takes into account machine availability and performance as well as output quality.

Overcarrier

A carrier within a consortium who carries cargo beyond the allotment distributed to him.

Overcharge Claims

When the shipper or consignee pays charges for a transportation service which exceed those applicable under the tariff, a condition of overcharge claim exists. A carrier may make an error and create an overcharge many of the following ways: (1) assessment of an incorrect rate; (2) errors in description on the bill of lading of the bill of lading of the commodities being shipped; (3) errors in weight in which the weight designed on the bill of lading is incorrect, or an incorrect minimum weight is applied; (4) mistakes in tariff interpretation; and (5) clerical errors. Application for an overcharge claim must be filed in writing with the carrier within three years of time of delivery of the shipment. Normally, the claim is filed; the period is then extended six months from the time the claim would be disallowed. This permits the applicant to bring suit in the event application for an overcharge claim was disallowed by the carrier.

Overcharges

The extent of freight more for transportation services in excess of those applicable thereto under the tariff or contract.

Overcharges

To charge more than the proper amount according to the published rates.

Overdrive

Gearing in which less than one revolution of a transmission’s input shaft causes one turn of the output shaft. The purpose of overdrive is to reduce engine rpm in high gear for better fuel economy.

Overdue

As applied to a draft or note, the specified time for payment of which has passed or matured.

Overflow Location

An inventory stock location, often assigned on a random basis, used when the primary or dedicated location is not able to handle seasonal or other temporary requirements

Overflow Warehouse

A warehouse that holds goods temporarily in peak demand or holding periods.

Overhaul

To extensively inspect and repair a system or component.

Overhead

Indirect costs associated with facilities and management that are applied to the costs of manufactured goods through the manufacturing reporting process.

Overhead Common Point

A term stated on the bills of lading offering lower shipping rates to importers east of the U.S. Rockies provided merchandise from the Asia that comes in through West Coast ports. This traffic is in competition to the all-water Asia to mid-continent and U.S. East Cost Ports.

Overhead Common Point

Overland Common Point rates which are generally lower than local tariff rates. They were established by the U.S. West Coast steamship companies in conjunction with railroads serving the western U.S. ports so that cargo originating or destined to the American Midwest and east would be competitive with all-water rates via the U.S. Atlantic and Gulf ports. O.C.P. rates are also applicable to eastern Canada.

Overhead Guard

A protection overhead to protect the driver of a lift truck.

Overhead Percentage

A percentage rate over and above the material and labor costs of producing a product that is charged to cover the overhead costs of the producer.

Overhead Rate

“it is calculated by totaling all your expenses for one year, excluding labor and materials, and then divide this number by your total cost of labor and materials.

Overhead Runway System

The overhead tracks which carry the lifting blocks and trolleys in warehouse operations. They operate in one plane, but may go straight or have curves.

Overhead Traffic

When traffic moves over a line which is a bridge in character, that is it is received by another carrier and delivered to a third carrier, it is called overhead traffic.

Overhead Waybill

A document used to cover shipments by a carrier on whose line neither the point of origin nor the destination are located.

Overheight Cargo

Cargo, exceeding the standard height.

Overlapping Operations

Operations in which material produced by an initial work center is begun to be processed by the next work center before the entire batch or run is finished at the first. Done as a result of order quantity volumes and process constraints, and to reduce total lead time.

Overlay

The upper layer of an overlay technique. The layer with the design.

Overlength Cargo

Cargo, exceeding the standard length.

Overload

A vehicle that exceeds the regulation maximum in total weight or axle weight. Generally refers to motor transport vehicles.

Overpack

A unit used by a single shipper to contain one or more packages and to form one handling unit for convenience of handling and stowage. Dangerous goods packages contained in the overpack must be properly packed, marked, labelled and in proper condition as required by the Regulations regarding dangerous goods (aircargo).

Overrun

To print a larger quantity of books than ordered. Printers estimate a 10 percent spoilage. If this does not occur, the additional books are charged to the customer but only up to 10 percent.

Overseas Countries And Territories

Territories associated with Member States whose products were given special access to European Economic Community (EEC) markets by the Treaty of Rome.

Overseas Countries And Territories

Territories associated with Member States whose products were given special access to European Economic Community (EEC) markets by the Treaty of Rome. Since 1963 they have been absorbed into the broader arrangements of the Yaoundé and Lomé Conventions.

Over-Sold

Selling more tickets than there are seats available. It results in a confirmed reservation without a seat.

Overstated

exaggerated: represented as greater than is true or reasonable

Overstock

Stock excessively.

Overtime

Work beyond normal established working hours that usually requires a premium to be paid to the employees concerned.

Overweight

Carring more than the weight published in the program.

Overwidth Cargo

Cargo, exceeding the standard width.

Own Resources

The possession by the EC of financial resources which belong to them as of right, consisting of customs duties, levies on agricultural imports, and a proportion of the value-added tax (VAT) levied by the Member States.

Owner

The legal owner of cargo, equipment or means of transport.

Owner Code (SCAC)

Standard Carrier Abbreviation Code identifying an individual common carrier. A three letter carrier code followed by a suffix identifies the carrier’s equipment. A suffix of “U” is a container and “C” is a chassis.

Owner’s Risk

Indicates that shipper relieves carrier from part of transportation risk.

Owner-Operator

A driver who owns the vehicle he operates, and has leased it to a carrier.

Owner-Operator

A trucking operation in which the opener of the truck is also the driver.

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