Another form of scrap is where there is excess materials and cut-offs as a result of the manufacturing process.

The cost of one currency by another.

A tax charged on specific products, such as fuel, alcohol, and tobacco.

A senior executive within the buyer organisation that has overall executive responsibility for the relational development between the organisation and nominated key suppliers.

a term used for hurrying something along. The term is used both in production and in purchasing. If a job or a purchase order is late, some-one will be assigned to expedite. Expediting requires detailed monitoring of the progress of the order and examining the delays at every step along the way. If there is a problem that can be resolved, the expeditor will address this in order to speed up the order.

Refers to the probability of an event occurring when an experiment is conducted.

Expired inventory is often a problem for companies that deal in items that may spoil. ... Unsold food items have a potential to spoil and become a cost on the company’s accounting books. Accountants often track inventory and account for all items, whether ready to sell or spoiled.

Goods and services that are produced in one country and sold to another.

Free on Board

The vehicle transporting goods is filled to capacity, hence the term Full Truck Load.

The resources used in the creation of goods and services, and are the foundation of an economy.

The neglect or omission of expected or required action.

Goods which do not have a shelf life as such, but are fast moving nonetheless. Such products are appliances, electronic goods, books etc.

An assessment of the practicality of a proposed project or system

A contract for a monetary asset, that can be purchased, traded, created, modified, or settled for. The contract places each party under obligation to do something.

The conclusions reached after analysis.

Permanent assets which will not be convert into cash in the short term.

Money used to buy fixed assets.

Is the amount of business expenditure which does not change in direct proportion to the quantity that is manufactured, bought or sold.

An account that allows for a sum of money is invested for a fixed period of time at a fixed rate of interest.

Expenses that occur every month, and the amount does not vary.

A loan repayable over a fixed term, also called a term loan.

When a government or central bank tie the exchange rate of that country to another’s exchange rate, or to the price of gold.

When a currency fluctuates according to foreign exchange (forex) market events.

The calculation of food miles is the total distance that goods will travel from the source to the end consumer. 

Forecasts are predictions about the future. The better those predictions, the more informed decisions can be.

Is the trading of different national currencies.

Foreign Sectors are transactions with foreign countries, which include imports and exports of goods and services as well as capital movements.

Forward contract is an exchange rate that is set now for currencies that are to be exchanged at a future date

 Crude oil, coal and natural gas are all considered fossil fuels. They have been formed from the fossilized, buried remains of plants and animals that lived millions of years ago. They are irreplaceable once they have been consumed making this an unsustainable form of energy.

The fourth industrial revolution, also sometimes referred to as Industry 4.0, is a term used to describe the digitalisation that is occurring across entire value chain processes in many companies.

It has introduced the pervasive use of digital technology to manage, track and monitor every aspect of business processes.

Fraud is an act of deliberate deception, with the intention of gaining some benefits.

Is when a seller quotes a price that includes the cost of ship-ping, thereby passing the full cost of shipping onto the buyer. 

Free Trade is a trade policy that does not restrict imports or exports, i.e. without tariffs, quotas or other restrictions

Goods or cargo distributed in bulk by various means of transport.

Their role is to provide necessary customs and documentation services.  

A discrete measurement defined as the percentage of orders delivered to the right place, with the right product, at the right time, in the right condition, in the right package, in the right quantity, with the right documentation, to the right customer, with the correct invoice. 

This is a third-party (3PL) warehouse where warehousing, order processing, picking, packing, and shipping for eCommerce partners is handled.

FCL (full container load) is an ocean shipment in which the cargo occupies a full container (of any size). An FCL shipment can be stuffed at the supplier, and then trucked directly to the CY (container yard): The container can either be live unloaded at the destination, or the trucker can do a drop.

An activity that is natural to or the purpose of a person or thing.

Global Positioning System is an accurate worldwide navigational and surveying facility based on the reception of signals from an array of orbiting satellites.

A bridge-like overhead structure with a platform supporting equipment such as a crane, signals, or cameras.

A technique that an organisation uses to determine steps needed to move from its current state to desired future state.

Gearing refers to the level of a company’s debt related to its equity capital, usually expressed in percentage form. It is a measure of a company’s financial leverage and shows the extent to which its operations are funded by lenders versus shareholders. The term "gearing" also refers to the ratio between a company’s stock price and the price of its warrants.

A record of all of a business’s transactions, written on the date they occur.

The term global village represents the simplifying of the whole world into one village through the use of electronic media. Global village is also a term to express the constituting relationship between economics and other social sciences throughout the world.

A Goal is a general outcome statement.

A consumer tax on goods and services sold domestically, charged by the seller and passed on to the government.

'Gravity Flow Racking' is a storage system that relies on gravity flow to load, organize, and retrieve stored cartons or pallets within a warehouse. Maximizing space and efficiency, gravity flow racks will save your business money, improve your productivity, and increase safety for your employees