Transportation, the Supply Chain and the Economy
Glossary
Chapter 1
Transportation, the Supply Chain and the Economy
Accessibility: The ability of the carrier to provide service between the origin and destination. It also refers to the carrier’s ability to serve the shipper or consignee’s place of business. For example, in order to ship and receive a railcar, both the origin and destination must have a side track.
Aggregate demand: The total effective demand for the nation’s output of goods and services. This can also refer to the sum of individual demands for a mode’s or carrier’s services.
Bundle of services: A grouping of services offered by a carrier that may be integrated into a total package. An example would be a carrier that offers line-haul, sorting, and segregating with local delivery to specific customers.
Business logistics: The process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements. Note that this definition includes inbound, outbound, internal, and external movements.
Capability: The ability of a carrier to provide service or multiple services to the shipper to meet the specific requirements of that customer.
Cash flow: Funds or money as it passes from buyer to seller during a commercial transaction and is sometimes measured in a time relationship.
Common carrier: A transportation company that provides freight and/or passenger service to any who seek its services.
Demand elasticity: The amount that the demand for a product or service will change by the changes in price and the availability of substitutes.
Extent of market: This relates to the extent of the size of a market that a firm may serve on a competitive basis. Cost of the product and freight will determine how far from its base a firm may compete effectively.
Freight transportation: The movement of goods or
Chapter 1
Transportation, the Supply Chain and the Economy
Accessibility: The ability of the carrier to provide service between the origin and destination. It also refers to the carrier’s ability to serve the shipper or consignee’s place of business. For example, in order to ship and receive a railcar, both the origin and destination must have a side track.
Aggregate demand: The total effective demand for the nation’s output of goods and services. This can also refer to the sum of individual demands for a mode’s or carrier’s services.
Bundle of services: A grouping of services offered by a carrier that may be integrated into a total package. An example would be a carrier that offers line-haul, sorting, and segregating with local delivery to specific customers.
Business logistics: The process of planning, implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements. Note that this definition includes inbound, outbound, internal, and external movements.
Capability: The ability of a carrier to provide service or multiple services to the shipper to meet the specific requirements of that customer.
Cash flow: Funds or money as it passes from buyer to seller during a commercial transaction and is sometimes measured in a time relationship.
Common carrier: A transportation company that provides freight and/or passenger service to any who seek its services.
Demand elasticity: The amount that the demand for a product or service will change by the changes in price and the availability of substitutes.
Extent of market: This relates to the extent of the size of a market that a firm may serve on a competitive basis. Cost of the product and freight will determine how far from its base a firm may compete effectively.
Freight transportation: The movement of goods or