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Logistics Glossary - F
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Facilities: The physical plant, distribution centers, service centers, and related equipment.
Flatbed: A flatbed is a type of truck trailer that consists of a floor and no enclosure. A flatbed may be used with “sideboards” or “tie downs” which keep loose cargo from falling off.
Flatcar: A rail car without sides; used for hauling machinery.
Finished Goods Inventory (FG or FGI): Products completely manufactured, packaged, stored, and ready for distribution. Also see: End Item
Flow Rack: Storage rack that utilizes shelves (metal) that are equipped with rollers or wheels. Such an arrangement allows product and materials to "flow" from the back of the rack to the front and therein making the product more accessible for small-quantity order-picking.
FOB: See Free on Board
FOB Destination: Title passes at destination, and seller has total responsibility until shipment is delivered.
FOB Origin: Title passes at origin, and buyer has total responsibility over the goods while in
shipment.
Foreign Trade Zone (FTZ): An area or zone set aside at or near a port or airport, under the control of the U.S. Customs Service, for holding goods duty-free pending customs clearance.
Forklift Truck: A machine-powered device that is used to raise and lower freight and to move freight to different warehouse locations.
Fourth-Party Logistics (4PL): Differs from third party logistics in the following ways; 1)4PL
organization is often a separate entity established as a joint venture or long-term contract between a primary client and one or more partners; 2) 4PL organization acts as a single interface between the client and multiple logistics service providers; 3) All aspects (ideally) of the client’s supply chain are managed by the 4PL organization; and, 4) It is possible for a major third-party logistics provider to form a 4PL organization within its existing structure. The term was registered by Accenture as a trademark in 1996 and defined as "A supply chain integrator that assembles and manages the resources, capabilities, and technology of its own organization with those of complementary service providers to deliver a comprehensive supply chain solution," but is no longer registered.
Free on Board (FOB): Contractual terms between a buyer and a seller, that define where title transfer takes place.
Freight: Goods being transported from one place to another.
Freight Carriers: Companies that haul freight, also called "for-hire" carriers. Methods of
transportation include trucking, railroads, airlines, and sea borne shipping.
Freight Consolidation: The grouping of shipments to obtain reduced costs or improved utilization of the transportation function. Consolidation can occur by market area grouping, grouping according to scheduled deliveries, or using third-party pooling services such as public warehouses and freight forwarders.
Freight Forwarder: An organization which provides logistics services as an intermediary between the shipper and the carrier, typically on international shipments. Freight forwarders provide the ability to respond quickly and efficiently to changing customer and consumer demands and international shipping (import/export) requirements.
Fulfillment: The act of fulfilling a customer order. Fulfillment includes order management, picking, packaging, and shipping.
Full Container load (FCL): A term used when goods occupy a whole container.
Full-Time Equivalents (FTE): Frequently organizations make use of contract and temporary employees; please convert contract, part-time, and temporary employees to full-time equivalents. For example, two contract employees who worked for six months full-time and a half-time regular employee would constitute 1.5 full-time equivalents. 1 FTE = 2000 hours per year.
Full Truckload (FTL): A term which defines a shipment which occupies at least one complete truck trailer, or allows for no other shippers goods to be carried at the same time.