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Logistics Glossary - E
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Economic Order Quantity (EOQ): An inventory model that determines how much to order by determining the amount that will meet customer service levels while minimizing total ordering and holding costs.
Electronic Commerce (EC): Also written as e-commerce. Conducting business electronically via traditional EDI technologies, or online via the Internet. In the traditional sense of selling goods, it is possible to do this electronically because of certain software programs that run the main functions of an e-commerce website, such as product display, online ordering, and inventory management. The definition of e-commerce includes business activity that is business-to-business (B2B), business-to-consumer (B2C).
Electronic Data Interchange (EDI): Intercompany, computer-to-computer transmission of business information in a standard format. For EDI purists, "computer-to-computer" means direct transmission from the originating application program to the receiving, or processing, application program.
End item: A product sold as a completed item or repair part; any item subject to a customer order or sales forecast. Synonym: Finished Goods Inventory.
Expediting: 1) Moving shipments through regular channels at an accelerated rate. 2) To take
extraordinary action because of an increase in relative priority. Synonym: Stockchase
Export: 1) In logistics, the movement of products from one country to another. For example, significant volumes of cut flowers are exported from The Netherlands to other countries of the world. 2) A computer term referring to the transfer of information from a source (system or database) to a target.
Export Broker: An enterprise that brings together buyer and seller for a fee, then eventually withdraws from the transaction.
Export Compliance: Complying with rules for exporting products, including packaging.
Export Declaration: A document required by the Department of Commerce that provides information as to the nature, value, etc., of export activity.
Export License: A document secured from a government authorizing an exporter to export a specific quantity of a controlled commodity to a certain country. An export license is often required if a government has placed embargoes or other restrictions upon exports.