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Logistics Glossary - T
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Tariff: A tax assessed by a government on goods entering or leaving a country. The term is also used in transportation in reference to the fees and rules applied by a carrier for its services.
Terms and Conditions (T’s & C’s): All the provisions and agreements of a contract.
Third-Party Logistics (3PL): Outsourcing all or much of a company’s logistics operations to a specialized company. The term "3PL" was first used in the early 1970s to identify intermodal marketing companies (IMCs) in transportation contracts. Up to that point, contracts for transportation had featured only two parties, the shipper and the carrier. When IMCs entered the picture—as intermediaries that accepted shipments from the shippers and tendered them to the rail carriers—they became the third party to the contract, the 3PL. But over the years, that definition has broadened to the point where these days, every company that offers some kind of logistics service for hire calls itself a 3PL.
Third Party Logistics Provider: A firm which provides multiple logistics services for use by
customers. Preferably, these services are integrated, or "bundled" together by the provider. These firms facilitate the movement of parts and materials from suppliers to manufacturers, and finished products from manufacturers to distributors and retailers. Among the services which they provide are transportation, warehousing, cross-docking, inventory management, packaging, and freight forwarding.
Third-Party Warehousing: The outsourcing of the warehousing function by the seller of the goods.
Tractor: The tractor is the driver compartment and engine of the truck. It has two or three axles.
Trailer: The part of the truck that carries the goods.
Trailer Drops: When a driver drops off a full truck at a warehouse and picks up an empty one.
Trailer on a Flatcar (TOFC): A specialized form of containerization in which motor and rail transport coordinate. Synonym: Piggyback
Transit Inventory: Inventory in transit between manufacturing and stocking locations, or between warehouses in a distributed warehousing model. Also see: In-transit Inventory
Transportation Mode: The method of transportation: land, sea, or air shipment.
Transportation Planning: The process of defining an integrated supply chain transportation plan and maintaining the information which characterizes total supply chain transportation requirements, and the management of transporters both inter and intra company.
Transportation Security Administration (TSA): TSA was created in response to the attacks of September 11th and signed into law in November 2001. TSA was originally in the Department of Transportation but was moved to the Department of Homeland Security in March 2003. TSA's mission is to protect the nation’s transportation systems by ensuring the freedom of movement for people and commerce.
Truckload Carriers (TL): Trucking companies, which move full truckloads of freight directly from the point of origin to destination.
Turnover: 1) Typically refers to Inventory Turnover. 2) In the United Kingdom and certain other countries, turnover refers to annual sales volume. Also see: Inventory Turns
Twenty-foot Equivalent Unit (TEU): Standard unit for counting containers of various capacities and for describing the capacities of container ships or terminals. One 20 Foot ISO container equals 1 TEU. One 40 Foot ISO container equals two TEU.