A trade lane (or trade route) refers to a specific pathway along which goods are transported between two or more locations, typically across international borders. Trade lanes are established based on the flow of goods and the economic relationships between countries or regions. They encompass both maritime and air routes and play a crucial role in global supply chains by facilitating the movement of goods and fostering international trade.
Transit time refers to the duration it takes for goods or shipments to travel from their origin to their destination. It is a crucial metric in supply chain and logistics management, as it directly impacts delivery schedules, inventory levels, and customer satisfaction. Transit time encompasses the entire journey of a shipment, including transportation, handling, and processing at various checkpoints along the route.
Transloading refers to the process of transferring goods or cargo from one mode of transportation to another, typically from one type of truck or railcar to another, or from rail to truck and vice versa. This logistical practice is often employed to optimize transportation routes, reduce costs, and improve overall efficiency in supply chain operations.
A Transportation Management System (TMS) is a specialized software solution designed to streamline and optimize transportation and logistics operations within supply chains. It provides functionalities to effectively manage and control the movement of goods from origin to destination.
Transportation lead time refers to the duration it takes for goods to be transported from the point of origin to the final destination. It encompasses the time required for transportation activities, including loading, transit, and unloading, across various modes of transport such as road, rail, air, or sea.
A transshipment is the process of transferring goods from one transportation vehicle or vessel to another during their journey from origin to destination. It typically occurs at intermediary points along the supply chain route, where cargo is transferred between different modes of transportation, carriers or vessels.
Twenty-foot Equivalent Unit (TEU) is a standard unit of measurement used in the shipping industry to quantify the cargo-carrying capacity of container vessels. It represents the volume of a standard twenty-foot-long shipping container.
An Ultra Large Container Vessel (ULCV) is a massive container ship used on major trade routes, capable of carrying over 14,000 TEUs.
Vendor Managed Inventory (VMI) is a supply chain management strategy where the supplier or vendor takes responsibility for managing the inventory levels of their products at the customer's or retailer's location. In this arrangement, the vendor monitors the inventory levels based on agreed-upon criteria such as sales data or inventory levels, and initiates replenishment as needed.
Verified Gross Mass (VGM) is a term used in the shipping industry to refer to the total weight of a packed container, including its contents and packaging materials. It is a crucial requirement mandated by the International Maritime Organization (IMO) under the Safety of Life at Sea (SOLAS) convention to enhance safety in maritime transportation.
A floating structure with its own mode of propulsion designed for the transport of cargo and/or passengers. In the Industry Blueprint 1.0 "Vessel" is used synonymously with "Container vessel", hence a vessel with the primary function of transporting containers.
A vessel sharing agreement (VSA) is a cooperative arrangement between shipping companies that allows them to share space and resources on vessels for specific routes.
Vessel bunching refers to the situation where multiple vessels arrive at a port simultaneously or within a short period, leading to congestion and delays. This clustering of vessels can overwhelm port facilities, causing extended wait times for berthing, loading, and unloading operations.
A vessel call sign is a unique identifier assigned to a ship for radio communication purposes. It is used to distinguish the vessel from others in maritime communication systems, including VHF radios and satellite communications.
A vessel omission (sometimes called a port omission) occurs when a scheduled vessel does not call at a planned port during its voyage. This disruption means that the vessel skips the port entirely, which can impact the transportation and delivery schedules of goods.
In cargo shipping, vessel rotation is the planned sequence of port calls that a shipping vessel follows on its route to optimize cargo loading and unloading operations.
The timetable of departure and arrival times for each port call on the rotation of the vessel in question.
A journey by sea from one port or country to another one or, in case of a round trip, to the same port.
Warehouse utilization is a logistics metric that refers to the effective use of available warehouse space for storing goods and inventory.
Order for specific transportation work carried out by a third party provider on behalf of the issuing party.
Logistics yard management refers to the process of overseeing and controlling the movement of trucks, trailers, containers, and other vehicles within a yard or distribution center. This includes tasks such as scheduling, tracking, and coordinating the arrival, departure, and storage of these vehicles.
November 2024 Product Roundup: Order Tracking & Improved Data Management
With this month’s launch of order tracking and collaboration, Beacon is extending visibility upstream and streamlining the multitude of interactions that take place between shippers, suppliers and forwarders to prepare orders for shipment. We’ve also made data editing easier by giving users the ability to update associated properties when viewing order or shipment details.
Keep reading for a full rundown of what’s new in Beacon this month, or book a demo to learn how our newest features can help you.
Order Tracking & Collaboration
Building on Beacon’s existing shipment tracking capabilities, the introduction of order collaboration extends visibility upstream in the supply chain, allowing you to seamlessly manage pre-shipment workflows.
Coordinating the movement of goods relies on smooth information exchange between all the actors in your supply chain. However, this exchange often depends on individual efforts to stay on top of things and disjointed systems and processes that can delay shipments, prevent on-time delivery and erode customer satisfaction.
Beacon’s new Order Collaboration solution tackles these challenges by introducing purchase order views on Live Boards — shareable dashboards for managing orders and freight. In addition to tracking your freight, you can now streamline the many interactions between shippers, suppliers, and forwarders needed to prepare and ship orders. With these new capabilities, tasks like agreeing on shipment schedules, exchanging cargo ready dates, sharing documents, and coordinating pickups or drop-offs can all be managed seamlessly in one place, with the information made readily available to all who need it.
Improved Data Management (& Third Party Editing)
Good visibility and good data go hand in hand, and that’s why we’ve made it easier to keep your records up to date in Beacon and replace your order and shipment tracking spreadsheets. You can now update the data fields linked to shipments and orders directly within the card view on your Live Boards.
External stakeholders who have been invited to a Live Board with 'Collaborator' permissions now also have the ability to populate and edit properties on shipment and order cards.
Adding or updating cargo ready dates, bill of lading numbers, consignee details, destination warehouses and any other property is as simple as clicking on the relevant data field when viewing the relevant shipment or PO and entering a new value. New custom fields can also be created from within the card view.
Start Your Beacon Free Trial
Visibility gives you insight and control over supply chain risk, but it also allows you to transform how you collaborate and exchange information with your suppliers, warehouses, customers and other supply chain stakeholders. Start your free trial today.