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Logistics Glossary
There are currently 7 logistics in this directory beginning with the letter I.
I
Import
Movement of products from one country into another. The import of automobiles from Germany into the US is an example.
Indirect Cost
A resource or activity cost that cannot be directly traced to a final cost object since no direct or repeatable cause-and-effect relationship exists. An indirect cost uses an assignment or allocation to transfer cost.
Insurance
A system of protection against loss under which a number of parties agree to pay certain sums (premiums) for a guarantee that they will be compensated under certain conditions for specified loss and damage.
Integrated Logistics
A comprehensive, system-wide view of the entire supply chain as a single process, from raw materials supply through finished goods distribution. All functions that make up the supply chain are managed as a single entity rather than managing individual functions separately.
Inventory
Raw materials, work in process, finished goods, and supplies required for creation of a company’s goods and services. The number of units and/or value of the stock of goods held by a company.