Glossary
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New Product Introduction (NPI)
The process a company uses to develop and implement new products to the sales portfolio.
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NITL
See National Industrial Transportation League (NITL).
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NMFC
See National Motor Freight Classification (NMFC).
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Node
A fixed point in a firm’s logistics system, such as plants, warehouses, supply sources and markets, where goods stop and are connected by transportation networks.
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No Location (No Loc)
A item received by a warehouse for which no storage slot has been established.
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Nonconformity
The failure to meet a specified requirement or rule. The failures are most commonly either physical or systemic in nature.
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Non-Negotiable BOL
Document that provides for the delivery of goods only to a named business or person and to no one else. Also known as a straight bill of lading, and not transferable.
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Non Vessel Operating Common Carrier (NVOCC)
A company offering the same services as an ocean carrier, but which does not own or operate a vessel.
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North American Free Trade Agreement (NAFTA)
A trade agreement enacted in 1994 between Canada, the United States and Mexico. Replaced in 2020 by the U.S.-Mexico-Canada Agreement (USMCA).
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NOS/NES
See Not otherwise specified/Not elsewhere specified (NOS/NES).
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Notify Party
Company or person on the bill of lading or waybill to be notified when the cargo arrives at destination. May be different from the consignee (but often is consignee).
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Not otherwise specified/Not elsewhere specified (NOS/NES)
Terms that often appear in ocean or airfreight tariffs, and apply if no rate for the commodity shipped appears in the tariff. These general rates are usually higher.
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Nox
Nitrogen Oxides. A family of poisonous, highly reactive gases. Emitted by automobiles, trucks and various non-road vehicles. Subject to governmental regulations.
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NPI
See New Product Introduction (NPI).
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NVOCC
See Non Vessel Operating Common Carrier (NVOCC).
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Obsolete Inventory
Item that is at the end of its product life cycle or for which there is no forecast demand expected.
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Ocean Bill of Lading
The document issued by the ocean carrier for transportation of goods by sea. Also, acts as a receipt for cargo delivered to the carrier and a document of title.
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Ocean Cargo
See Ocean Freight.
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Ocean Carrier
A company that provides maritime transportation services for the shipment of goods and materials by sea.
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Ocean Freight
Goods transported by a vessel from one port to another port. Includes items shipped in containers, bulk, RORO, etc.
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Ocean Freight Tracking
See Cargo Tracking, specific to a shipment from one port to another port.
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Ocean shipment
The transport of cargo by sea, from one port to another port. See Ocean Freight.
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Ocean Transportation
The movement of cargo by sea, from one port to another port, by vessel.
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ODS
See Operating Differential Subsidy (ODS).
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OEM
See Original Equipment Manufacturer (OEM).
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