Supply Chain Glossary – i Letter

Category:

Description

  • Inventory Management: Inventory management involves overseeing the acquisition, storage, and distribution of goods to maintain optimal stock levels.
  • IoT (Internet of Things): IoT refers to the network of interconnected devices and sensors that collect and transmit data for improved monitoring and decision-making.
  • Inbound Logistics: Inbound logistics covers the processes of receiving, handling, and storing materials and products from suppliers.
  • Incoterms (International Commercial Terms): Incoterms are standardized terms used in international trade contracts to define responsibilities and costs between buyers and sellers.
  • Innovative Technology: Innovative technology includes new and advanced tools, systems, or processes that enhance efficiency and competitiveness.
  • Inventory Turnover: Inventory turnover measures how quickly a company sells and replenishes its inventory, a key metric in supply chain management.
  • Industrial Engineering: Industrial engineering applies mathematical and scientific principles to optimize processes and systems in various industries.
  • Inspection Process: The inspection process involves evaluating products or materials to ensure they meet quality standards and specifications.
  • Inventory Control: Inventory control focuses on regulating and managing inventory levels to minimize costs and maximize efficiency.
  • ISO Standards (International Organization for Standardization): ISO standards provide guidelines for quality management, safety, and environmental practices in industries.
  • In-Transit Visibility: In-transit visibility offers real-time tracking and monitoring of goods as they move through the supply chain.
  • Infrastructure Development: Infrastructure development encompasses building and maintaining physical and digital facilities essential for industrial operations.
  • Innovation Strategy: Innovation strategy outlines a company’s approach to introducing new products, technologies, or processes for growth.
  • Intermodal Transportation: Intermodal transportation involves using multiple modes of transport (e.g., truck, rail, ship) for efficient cargo movement.
  • Inventory Forecasting: Inventory forecasting uses data and analysis to predict future demand and optimize stock levels.
  • Information System: Information systems encompass software and hardware used to collect, process, and distribute data for decision-making.
  • In-Process Inspection: In-process inspection checks products at various stages of production to identify and rectify defects early.
  • Industrial Park: An industrial park is a designated area with infrastructure and facilities for manufacturing and industrial activities.
  • Incentive Program: Incentive programs motivate employees or partners by offering rewards for achieving specific goals or performance targets.
  • Integrated Supply Chain: An integrated supply chain aligns all components, from suppliers to customers, for seamless coordination and efficiency.
  • Inventory Valuation: Inventory valuation methods determine the monetary value of goods on hand, impacting financial reporting and taxes.
  • Insourcing: Insourcing involves bringing previously outsourced activities or functions back in-house for better control and cost savings.
  • In-Memory Computing: In-memory computing uses RAM for data storage and processing, enabling real-time analytics and faster decision-making.
  • Inventory Accuracy: Inventory accuracy measures how closely actual stock levels match recorded data, critical for avoiding overstock or stockouts.
  • International Trade: International trade involves the exchange of goods and services between countries, impacting supply chain logistics and regulations.
  • Innovation Culture: Innovation culture promotes a work environment that encourages creativity, experimentation, and idea generation.
  • Inventory Optimization: Inventory optimization techniques balance stock levels to meet customer demand while minimizing carrying costs.
  • Intercompany Collaboration: Intercompany collaboration fosters cooperation and information sharing between different divisions or subsidiaries of a corporation.
  • Inbound Transportation: Inbound transportation handles the movement of materials or products from suppliers to production or distribution facilities.
  • Influencer Marketing: Influencer marketing leverages individuals with influence and large followings to promote products or brands in marketing campaigns.