Terms	Definition
Bar Coding	Graphical representation (generally narrow and wide bars) that represent one of a number of numeric or alphanumeric standards
Bonded warehouse	Building or part of a building designated by a country's governmental authorities as a duty free zone for the purpose of storing imported merchandise in the interim before being shipped to another country.
Cross-Docking	A series of activities, which combined, define a business process; the series of activities from manufacturers to the retail stores that define the industry supply chain
Electronic Product Code (EPC)	Code used to identify a product on a pallet, case or unit level. It is a coding standard for manufacturers and distributors enabling complete traceability down to the serial number. The EPC network is an open standard allowing supply-chain partners to share product information.
E-Procurement	Management of purchasing and procurement activities via the internet.
Electronic Data Interchange (EDI)	exchange of data between computers based on the use of a common language
Electronic Forms Interchange (EFI)	Program to enabling the sending and receiving EDI messages via the internet and converting the coded data into form documents
Floor Ready Merchandise (FRM)	Merchandise shipped with all necessary tags, prices, security devices and ready for rapid cross-docking through retail DC’s, or received directly at stores.
Inventory Shrinkage	Losses of inventory resulting from scrap, damage, theft
Last In First Out (LIFO)	Accounting method of valuing stock issues by first extracting the articles last entered into inventory.
Physical Inventory	The determination of the inventory quantity by actual count.
Pick and Pack	Method of preparing orders combining operations of stock picking and packaging This method becomes very effective if it is performed on the basis of pre-packing, where the parcels for each order are predetermined, and printed transport labels are prepared in advance.
Point Of Sale (POS)	The time and place at which a sale occurs, such as a cash register in retail operation, or the order confirmation screen in an on-line session. Supply chain partners are interested in capturing data at the POS, because it is a true record of the sale rather then being derived from information such as inventory movement.
Prepacking	Pre-packing is based on computer simulation of order packing according to the dimensions and characteristics of stock pre order. The person preparing the order can thus be informed of the type of case to use for packing orders. Although its implementation is costly, pre-packing can result in big savings (increased productivity, rationalization of consumable material, less
Radio Frequency Identification (RFID)	See Radio Frequency Labels
Radio Frequency Lables or Intelligent Lable	Programmable and re-recording label, read without contact using radio-frequency identification.
SKU	Stock-Keeping Unit
Value Chain	A series of activities, which combined, define a business process; the series of activities from manufacturers to the retail stores that define the industry supply chain
Warehouse Management System (WMS)	Computer application, and components of SCE packages, with the goal of managing and optimizing warehouse operations.