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Stock in transit/clearing 1) All materials, components or finished products in transit from one point in a supply chain to another supply chain destination, expressed in quantitative or financial terms. (Source: ILT Supply-Chain Inventory Management SIG) Clearing house 1) A firm that undertakes haulage contracts by (mainly) sub-contracting the work to other vehicle operators. Many have a poor reputation as a result of paying low rates and taking a long time to settle sub-contractor accounts. Now referred to in modern terminology as ‘freight exchanges’ or ‘electronic market places’. Clearing banks 1) The major banks which deal with commercial banking, cheque clearance, etc. |
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