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17.07.2013 06:50 |
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Overdraft
1) Financial arrangement whereby bank allows client to draw money which he does not have in his account (ie overdraw) to meet immediate needs on the expectation that funds will be forthcoming.
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17.07.2013 06:48 |
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Outstations
1) Branches, depots or sub-depots of an organization situated some distance from the main operating centre. For example, as with bus and coach depots and haulage sub-depots.
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17.07.2013 06:47 |
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Outbound logistics
1) Activities connected with the movement of goods outwards as opposed to inwards. See also Logistics and Inbound logistics.
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17.07.2013 06:45 |
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OTIF
1) On time, in full. Distribution concept for delivery of orders as and when required.
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17.07.2013 06:43 |
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ORR
1) Office of the Rail Regulator. The Rail Regulator is an independent statutory officer appointed by government under the Railways Act 1933. His focus is on the monopoly and dominant elements of Britain's railways, principally Railtrack, and he regulates in the public interest, balancing these duties and functions.
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17.07.2013 06:42 |
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Order processing
1) Part of distribution function whereby customer orders are received, checked (to ensure goods available and customer has credit, etc) and assembled into vehicle loads/routes, etc ready for order picking and load assembly. Usually carried out by computer.
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17.07.2013 06:49 |
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Overbooking
1) Ploy adopted by passenger airlines to ensure as many seats on flights are filled as possible, achieved by selling more tickets than the number of seats available on the basis that a number of ticket holders always fail to turn up (show) for the flight.
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17.07.2013 06:47 |
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Outsourcing
1) System whereby use is made of outside sources (eg transport/ warehousing or full-scale logistics service) replacing in-house facilities. See also Third party.
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17.07.2013 06:46 |
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OTS
1) On-the-Spot. DTLR/Highways Agency j oint proj ect by the TRL to visit road accidents while vehicles are still in situ in order to achieve greater understanding of accident causation and the development of effective counter measures.
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17.07.2013 06:44 |
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OSD
1) Open shelter deck. The sheltered deck on a ship is above the main deck and is used for carrying light cargo. The OSD is an open-type sheltered deck.
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17.07.2013 06:42 |
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Organic growth
1) In transport and logistics the means by which firms grow and achieve their strategic goals through development of their own business, as opposed to growth via the acquisition of other businesses or by forming trading partnerships/strategic alliances/joint ventures.
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Order point inventory system |
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17.07.2013 06:41 |
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Order point inventory system
1) An inventory control system for independent demand items where a reorder requirement is generated and sent to a supplier when the on-hand inventory balance reaches a specified level. (Source: ILT Supply-Chain Inventory Management SIG)
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