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P &
D:
Pickup and
delivery.
Packing
List:
A document containing information about the
location of each Product ID in each package. It allows the recipient to quickly
find the item he or she is looking for without a broad search of all packages.
It also confirms the actual shipment of goods on a line item basis.
pallet:
A platform device (about four feet square) used for moving
and storing goods. A forklift truck is used to lift and move the loaded
pallet.
pallet
wrapping machine:
A machine that wraps a pallet's contents in stretch-wrap to
ensure safe shipment.
Particular Average:
See
Marine Cargo Insurance.
passenger-mile:
A measure of output for passenger transportation that
reflects the number of passengers transported and the distance traveled; a
multiplication of passengers hauled and distancetraveled.
Payment:
The transfer of
money, or other agreed upon medium, for provision of goods or services.
Payment Collection:
Obtaining money, or other agreed upon medium, for provision of goods or
services.
peak
demand:
The time period during which customers demand the greatest
quantity.
pegging:
A technique in which a
DRP system traces demand for a
product by date, quantity, and warehouse location.
per
diem:
A payment rate one railroad makes to use another's cars.
permit:
A grant of authority to operate as a contract
carrier.
personal
computer (PC):
An individual unit an operator uses for creating and
maintaining programs and files; can often access the mainframe
simultaneously.
personal
discrimination:
Charging different rates to shippers with similar
transportation characteristics, or, charging similar rates to shippers with
differing transportation characteristics.
physical
distribution:
The movement and storage of finished goods from
manufacturing plants to warehouses to customers; used synonymously with business
logistics.
physical
supply:
The movement and storage of raw materials from supply sources to the
manufacturing facility.
Pick-Up Order:
A document
indicating the authority to pick up cargo or equipment from a specific location.
pick/pack:
Picking and packing immediately into shipment
containers.
picking by
aisle:
A method by which pickers pick all needed items in an aisle regardless of
the items' ultimate destination; the items must be sorted later.
picking by
source:
A method in which pickers successively pick all items going to a
particular destination regardless of the aisle in which each item is
located.
piggyback:
A rail-truck service. A shipper loads a highway trailer,
and a carrier drives it to a rail terminal and loads it on a rail flatcar; the
railroad moves the trailer-on-flatcar combination to the destination terminal,
where the carrier offloads the trailer a
pin
lock:
A hard piece of iron, formed to fit on a trailer's pin, that locks in
place with a key to prevent an unauthorized person from moving the
trailer.
place
utility:
A value that logistics creates in a product by changing the product's
location. Transportation creates place utility.
planned
order:
In
DRP and
MRP
systems, a future order
the system plans in response to forecasted demand.
PO:
See
Purchase Order.
point of sale
information (POS):
Price and quantity data from the retail location as sales
transactions occur.
police
powers:
The United States' constitutionally granted right for the states to
establish regulations to protect their citizens' health and welfare; truck
weight; speed, length, and height laws are examples.
pooling:
An agreement among carriers to share the freight to be
hauled or to share profits. The Interstate Commerce Act outlawed pooling
agreements, but the Civil Aeronautics Board has approved profit pooling
agreements for air carriers during strikes.
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.
POS:
Point of Shipment.
possession
utility:
The value created by marketing's effort to increase the desire to possess
a good or benefit from a service.
Prepaid Freight:
Freight
paid by the shipper to the carrier when merchandise is tendered for shipment
that is not refundable if the merchandise does not arrive at the intended
destination.
primary-business test:
A test the ICC uses to determine if a trucking
operation is bona fide private transportation; the private trucking operation
must be incidental to and in the futherance of the firm's primary
business.
private
carrier:
A carrier that provides transportation service to the firm 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
warehousing:
The storage of goods in a warehouse owned by the company
that has title to the goods.
Pro Forma Invoice:
An
invoice, forwarded by the seller of goods prior to shipment, that advises the
buyer of the particulars and value of the goods. Usually required by the buyer
in order to obtain an import permit or letter of credit.
Pro-forma:
A type of
quotation or offer that may be used when first negotiating the sales of goods or
services. If the pro-forma is accepted, then the terms and conditions of the
pro-forma may become the request.
Procurement:
The act of
acquiring goods.
Product:
Something that
has been or is being produced.
Product Description:
The
user's description of the product.
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).
production
planning:
The decision-making area that determines when and where and in what
quantity a manufacturer is to produce goods.
productivity:
A measure of resource utilization efficiency defined as the
sum of the outputs divided by the sum of the inputs.
profit
ratio:
The percentage of profit to sales--that is, profit divided by
sales.
proportional
rate:
A rate lower than the regular rate for shipments that have prior or
subsequent moves; used to overcome combination rates' competitive
disadvantages.
public
warehouse receipt:
The basic document a public warehouse manager issues as a
receipt for the goods a company gives to the warehouse manager. The receipt can
be either negotiable or nonnegotiable.
public
warehousing:
The storage of goods by a firm that offers storage service
for a fee to the public.
pull ordering
system:
A system in which each warehouse controls its own shipping requirements
by placing individual orders for inventory with the central distribution
center.
Purchase Order:
A document created by a buyer to officially request a product or service
from a seller. It contains, among other things, the name and address of the
buyer, the ship-to address, the quantity, product code [and expected price],
requested ship or receipt date, sales and shipping terms, and other appropriate
information.
purchase
price discount:
A pricing structure in which the seller offers a lower
price if the buyer purchases a larger quantity.
purchasing:
The functions associated with buying the goods and services
the firm requires.
pure raw
material:
A raw material that does not lose weight in processing.
push ordering
system:
A situation in which a firm makes inventory deployment decisions at the
central distribution center and ships to its individual warehouses
accordingly.
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Logistic terms
