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Pallet: The platform which cartons are stacked on and then used for shipment or movement as a group. Pallets may be made of wood or composite materials.
Pallet Jack: Material handling equipment consisting of two broad parallel pallet forks on small wheels used in the warehouse to move pallets of product, but not having the lifting capability of a forklift. It may be a motorized unit guided by an operator who stands on a platform; or it may be a motorized or manual unit guided by an operator who is walking behind or beside it. Comes as a "single" (one pallet) or "double" (two pallets).
Pallet Rack: A single or multi-level structural storage system that is utilized to support high stacking of single items or palletized loads.
Pallet Tag: The bar coded sticker that is placed on a unit load or partial load, typically at receiving. The pallet tag can be scanned with an RF gun.
Pallet Ticket: A label to track pallet-sized quantities of end items produced to identify the specific sub lot with specifications determined by periodic sampling and analysis during production.
Pallet Wrapping Machine: A machine that wraps a pallet’s contents in stretch-wrap to ensure safe shipment.
Performance Measures: Indicators of the work performed and the results achieved in an activity, process, or organizational unit. Performance measures should be both non-financial and financial. Performance measures enable periodic comparisons and benchmarking. For example, a common performance measure for a distribution center is % of order fill rate. Also see: Performance Measurement Program
Attributes of good performance measurement include the following:
1. Measures only what is important: The measure focuses on key aspects of process
performance.
2. Can be collected economically: Processes and activities are designed to easily capture the relevant information.
3. Are visible: The measure and its causal effects are readily available to everyone who is measured,
4. Is easy to understand: The measure conveys at a glance what it is measuring and how it is derived.
5. Is process oriented: The measure makes the proper trade-offs among utilization, productivity and performance.
6. Is defined and mutually understood. The measure has been defined and mutually understood by all key parties (internal and external).
7. Facilitates trust: The measure validates the participation among various parties and discourages “game playing”.
8. Are usable: The measure is used to show progress and not just data that is “collected”.
Performance Measurement Program: A performance measurement program goes beyond just having performance metrics in place. Many companies do not realize the full benefit of their performance metrics because they often do not have all of the necessary elements in place that support their metrics. Also see: Performance Measures, Dashboard, Scorecard, Key Performance Indicator.
Typical characteristics of a good performance measurement program include the following:
• Metrics that are aligned to strategy and linked to the “shop floor” or line level workers.
• A process and culture that drives performance and accountability to delivery performance against key performance indicators.
• An incentive plan that is tied to performance goals, objectives and metrics.
• Tools/technology in place to support easy data collection and use. This often includes the use of a “dashboard” or “scorecard” to allow for ease of understanding and reporting against key performance indicators.
Perpetual Inventory: An inventory record keeping system where each transaction in and out is recorded and a new balance is computed. Perpetual inventory records may be kept manually on paper logs or stock cards, or in a computer database.
Personal Digital Assistant (PDA): A computer term for a handheld device that combines
computing, telephone/fax, and networking features. PDA examples include the Palm and Pocket PC devices. A typical PDA can function as a cellular phone, fax sender, and personal organizer. Unlike portable computers, most PDAs are pen-based, using a stylus rather than a keyboard for input. This means that they also incorporate handwriting recognition features. Some PDAs can also react to voice input by using voice recognition technologies. Some PDAs and networking software allow companies to use PDAs in their warehouses to support wireless transaction processing and inquiries.
Physical Distribution: The movement and storage functions associated with finished goods from manufacturing plants to warehouses and to customers; also, used synonymously with business logistics.
Pick List: A list of items to be picked from stock in order to fill an order; the pick list generation and the picking method can be quite sophisticated.
Piggyback: Terminology used to describe a truck trailer being transported on a railroad flatcar.
Point-of-Purchase (POP): A retail sales term referring to the area where a sale occurs, such as the checkout counter. POP is also used to refer to the displays and other sales promotion tools located at a checkout counter.
Point of Sale (POS): 1) The time and place at which a sale occurs, such as a cash register in a retail operation, or the order confirmation screen in an on-line session. Supply chain partners are interested in capturing data at the POS, because it is a true record of the sale rather than being derived from other information such as inventory movement. 2) Also a national network of merchant terminals, at which customers can use client cards and personal security codes to make purchases. Transactions are directed against client deposit accounts. POS terminals are sophisticated cryptographic devices, with complex key management processes. POS standards draw on ABM network experiences and possess extremely stringent security requirements.
Port: A harbor where ships will anchor.
Port Authority: A state or local government that owns, operates, or otherwise provides wharf, dock, and other terminal investments at ports.
Port of Discharge: Port where vessel is off loaded.
Port of Entry: A port at which foreign goods are admitted into the receiving country.
Port of Loading: Port where cargo is loaded aboard the vessel.
Portal: Websites that serve as starting points to other destinations or activities on the Internet. Initially thought of as a "home base" type of web page, portals attempt to provide all Internet needs in one location. Portals commonly provide services such as e-mail, online chat forums, shopping, searching, content, and news feeds.
Private Carrier: A carrier that provides transportation service to the firm and that owns or leases the vehicles and does not charge a fee. Private motor carriers may haul at a fee for wholly-owned subsidiaries.
Private Label: Products that are designed, produced, controlled by, and which carry the name of the store or a name owned by the store. Also known as a store brand or dealer brand. An example would be Wal-Mart's "Sam's Choice" products.
Private Warehouse: A warehouse that is owned by the company using it.
Procurement: The business functions of procurement planning, purchasing, inventory control, traffic, receiving, incoming inspection, and salvage operations. Synonym: Purchasing
Product ID: A method of identifying a product without using a full description. These can be different for each document type and must, therefore, be captured and related to the document in which they were used. They must then be related to each other in context (also known as SKU, Item Code or Number, or other such name).
Product Family: A group of products with similar characteristics, often used in production planning (or sales and operations planning).
Productivity: A measure of efficiency of resource utilization; defined as the sum of the outputs divided by the sum of the inputs.
Public Warehouse: A business that provides short or long-term storage to a variety of businesses usually on a month-to-month basis. A public warehouse will generally use their own equipment and staff however agreements may be made where the client either buys or subsidizes equipment. Public warehouse fees are usually a combination of storage fees (per pallet or actual square footage) and transaction fees (inbound and outbound). Public warehouses are most often used to supplement space requirements of a private warehouse. See also Third Party Logistics (3PL).
Purchase Order (PO): The purchaser’s authorization used to formalize a purchase transaction with a supplier. The physical form or electronic transaction a buyer uses when placing order for merchandise.
Purchasing: The functions associated with buying the goods and services required by the firm.
Put Away: Removing the material from the dock (or other location of receipt), transporting the material to a storage area, placing that material in a staging area, and then moving it to a specific location and recording the movement and identification of the location where the material has been placed.