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Logistics Glossary
There are currently 6 logistics in this directory beginning with the letter O.
O
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 A condition of being out of date.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.
Offshore
Utilizing an outsourcing service provider located in a country other than where the client is located.
Operation
the process of managing the activities associated with receiving, storing, packing and distributing goods in a warehouse. This can include: Warehouse management systems (WMS)
Optimization
The process of making something as good or as effective as possible with given resources and constraints.
Order Entry and Scheduling
The process of receiving orders from the customer and entering them into a company’s order processing system. 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.