Sales forecasting
and inventory optimization
Become a retail mastermind you always wanted to be.
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Dictionary G
| Term | Explanation |
|---|---|
| G-7 | Seven industrial countries , the United States, Japan, Germany, France, the United Kingdom, Italy, and Canada , whose leaders have met at annual economic summits since 1976 to coordinate economic policies |
| Gain | In finance, gain is a profit or an increase in value of an investment such as a stock or bond. Gain is calculated by fair market value or the proceeds from the sale of the investment minus the sum of the purchase price and all costs associated with it. |
| Gain sharing | A method of incentive compensation where supply chain partners share collectively in savings from productivity improvements. The concept provides an incentive to both the buying and supplier organisations to focus on continually re-evaluating, re-energising, and enhancing their business relationship. All aspects of value delivery are scrutinised, including specification design, order processing, inbound transportation, inventory management, obsolescence programs, material yield, forecasting and inventory planning, product performance and reverse logistics. The focus is on driving out limited value cost while protecting profit margins. |
| Galeno 2000 | Established in 1992 to promote cooperation between customs officials to combat illegal trade, especially in armaments, pornography and strategic goods |
| Gantry crane | A crane similar to an overhead crane except that the bridge for carrying the trolley or trolleys (with lifting device) is rigidly supported on two or more legs running on fixed rails or other runway. |
| Gantt chart | A time-phased bar chart display that lists tasks or activities along the left side and a corresponding bar for each task. The length of the bar represents the duration of the activity, and may include both scheduled and actual duration information. |
| GAO | General Accounting Office. |
| Gateway | The connection that permits messages to flow freely between two networks. |
| Gateway work centre | The work centre that performs the initial operation or process in a routing |
| Gathering lines | Oil pipelines that bring oil from the oil well to storage areas. |
| GATS | The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organisation (WTO) that entered into force in January 1995 as a result of the Uruguay Round negotiations. The treaty was created to extend the multilateral trading system to service sector, in the same way the General Agreement on Tariffs and Trade (GATT) provides such a system for merchandise trade |
| GATT | The General Agreement on Tariffs and Trade (typically abbreviated GATT) was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organisation (ITO). GATT was formed in 1947 and lasted until 1993, when it was replaced by the World Trade Organisation in 1995. The original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the modifications of GATT 1994 |
| Gauge | A standard measure for sheet steel thickness or wire diameter |
| Gauge R&R | A quality technique that analyses variations in test results as a possible result of the gauge or measurement device used, or operator interpretation or use. |
| Gaylord | A gaylord, bulk bin, or corrugated pallet box is a pallet size box usually made of double or triple wall corrugated fibreboard These are used for bulk packaging |
| GBL | Government Bill of Lading. |
| GCBS | General Council of British Shipping |
| GCR | General Cargo Rate. The basic tariff category which was introduced to cover most air cargo now covers only a minority, the remainder being under SCR or class rates |
| GDP | One of the measures of national income and output for a given country’s economy. It is the total value of all final goods and services produced in a particular economy; the dollar value of all goods and services produced within a country’s borders in a given year. |
| Gear motor | A commonly used term that designates a hoist that derives its lifting and lowering power from a mechanical setup involving a gear set and pneumatic or electric motor |
| Gear ratio | Number, usually expressed as a decimal fraction, representing how many turns of the input shaft cause exactly one revolution of the output shaft. Applies to transmissions, power take-offs, power dividers and rear axles. Example: If 2.5 revolutions of an input shaft cause one revolution of the output. |
| General | Concerned with, applicable to, or affecting the whole or every member of a class or category |
| General agreement on tariffs and trade | See GATT |
| General average | When damage to cargo on board a vessel exceeds carrier’s insurance, carrier will release cargo only with an acceptance agreement to claim only a general percentage of all the damage sustained. |
| General cargo | Cargo which is susceptible for loading in general, non-specialised stowage areas; e.g., boxes, barrels, bales, crates, packages, bundles, and pallets. |
| General commodities carrier | A common motor carrier that has operating authority to transport general commodities, or all commodities not listed as special commodities. |
| General export license | Any of various export licenses covering commodities for which validated export licenses are not required. No formal application or written authorisation is needed to ship exports under a general export license. |
| General ledger | The set of financial accounts used to accumulate the results of transaction processing, create budgets, generate financial statements and provide source financial data for reporting purposes. |
| General license | A license which grants permission to export non-strategic goods to specified countries, without having to obtain a validated license. |
| General license limited value | Authorisation to export a limited value amount of goods without specific documentary authorisation. |
| General merchandise | Merchandise not considered a part of the regular grocery line, such as books, housewares, records, and clothing. This excludes soap, paper towels, light bulbs, shoe polish, and other products known as nonfoods. |
| General merchandise warehouse | A warehouse that is used to store goods that are readily handled, are packaged, and do not require a controlled environment. |
| General order | A customs term referring to a warehouse where merchandise not entered within five working days after the carrier’s arrival is stored at the risk and expense of the importer. |
| General purpose pallet | A pallet that is designed and constructed for general use and is returnable. This pallet is generally double-decked in its construction |
| General supplies | Ordnance general supplies include all ordnance supplies, with the exception of ammunition, required for the maintenance of an organisation. Quartermaster general supplies include quartermaster materials and equipment required for housing, feeding, and maintaining a command, but excluding fixed installations in buildings, subsistence, fuel, clothing, and individual equipment. Transportation general supplies include shelf items and items not ordinarily subject to special controls. |
| General support | That support which is given to the supported force as a whole and not to any particular subdivision thereof. See also close support; direct support; mutual support; support. |
| Generic | Relating to or descriptive of an entire group or class; general. |
| Generalised system of preferences | A widely known preferential trade agreement that provides free or reduced rates of duty to beneficiary developing countries in an effort to assist their economic growth. |
| Generally accepted accounting principles | Generally Accepted Accounting Principles (GAAP) is a term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction which are generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarising transactions, and in the preparation of financial statements. |
| Gen-set | Motor generator set as power source for e.g. thermal containers |
| GENST | Standard Goods Nomenclature for Transport Statistics, merged in 1988 into Combined Nomenclature(CN). |
| Geo-coding | Identifying narrow locations by the use of three-, four- or five-digit ZIP Codes or other identifiers (depending on country) to allow mapping, planning and execution of deliveries |
| Geographic factor | Geographic factors often have an important influence on the history, economy, and culture of regions and nations. |
| Germanischer Lloyd | The Germanischer Lloyd SE (ex-AG) is a classification society based in the city of Hamburg, Germany. As a technical supervisory organisation Germanischer Lloyd conducts safety surveys on more than 7,000 ships with over 79 Mio GT[1]. Its technical and engineering services also include the mitigation of risks and assurance of technical compliance for oil, gas and industrial installations as well as wind energy parks. |
| Global | Global is a synonym of worldwide and means of, or relating to, or involving the entire world, in the general sense or as the planet Earth. |
| Global command and control system | Also called GCCS. See also command and control; command and control system |
| Global positioning system | The Global Positioning System (GPS) is a space-based global navigation satellite system that provides reliable location and time information in all weather and at all times and anywhere on or near the Earth when and where there is an unobstructed line of sight to four or more GPS satellites. It is maintained by the United States government and is freely accessible by anyone with a GPS receiver. |
| Global strategy | A strategy that focuses on improving worldwide performance through the sales and marketing of common goods and services with minimum product variation by country. Its competitive advantage grows through selecting the best locations for operations in other countries. |
| Global trade item number | Global Trade Item Number (GTIN) is an identifier for trade items developed by GS1 (comprising the former EAN International and Uniform Code Council). Such identifiers are used to look up product information in a database (often by inputting the number through a bar code scanner pointed at an actual product) which may belong to a retailer, manufacturer, collector, researcher, or other entity. The uniqueness and universality of the identifier is useful in establishing which product in one database corresponds to which product in another database, especially across organisational boundaries. |
| Global transportation network | The automated support necessary to enable USTRANSCOM and its components to provide global transportation management. The global transportation network provides the integrated transportation data and systems necessary to accomplish global transportation planning, command and control, and in-transit visibility across the range of military operations. Also called GTN. See also command and control; global transportation management; in-transit visibility; United States Transportation Command |
| Globalisation | The process of making something worldwide in scope or application |
| Glocalisation | Compound word of Globalisation & Localisation, means a product goes global but is modified to meet the market’s preference. |
| GMA pallet | Also known as a Grocery Pallet, a GMA pallet is made to the specifications of the Grocery Manufacturer’s Association. It is basically a 4-way pallet that is 40 inches wide, by 48 inches deep, by 5 inches in height and has the deck boards and bottom boards mounted flush with the outside stringers (more detailed specs are available from the Grocery Manufacturer’s Association). The ISO also recognises the GMA pallet footprint as one of its six standard sizes. Also see Pallet. |
| GMDSS | The Global Maritime Distress Safety System (GMDSS) is an internationally agreed-upon set of safety procedures, types of equipment, and communication protocols used to increase safety and make it easier to rescue distressed ships, boats and aircraft. |
| GNP | Gross National Product: GDP plus the net income accruing from foreign sources |
| Godown | The name given to storehouses and warehouses in India and the Far East. |
| GOH | Abbreviation of Garments On Hangers, versus garment flat pack |
| Going concern value | The value that a firm has as an entity, as opposed to the sum of the values of each of its parts taken separately; particularly important in determining a reasonable railroad rate. |
| Gondola | A rail car with a flat platform and sides three to five feet high; used for top loading of items that are long and heavy. |
| Gondola shelving | A floor mounted shelving system utilising cantilevered shelves extending from one or both sides of a rigid vertical back. This form of shelving is common in retail establishments due to its ease of movement and reconfiguration |
| Good manufacturing practices | “Good manufacturing practice” or “GMP” is part of a quality system covering the manufacture and testing of active pharmaceutical ingredients, diagnostics, foods, pharmaceutical products, and medical devices. MPs are guidelines that outline the aspects of production and testing that can impact the quality of a product. |
| Goods | Items of merchandise, finished products, supplies, or raw materials. Sometimes the term is extended to cover all inventorial items or assets such as cash, supplies, and fixed assets. |
| Goods control certificate | Document issued by a competent body evidencing the quality of goods described therein, in accordance with national or international standards, or conforming to legislation in the importing country, or as specified in the contract. |
| Goods flow | The direction and path of the movement of goods and sequence of placement of those goods in a supply chain. |
| Goods in transit | Goods that have departed from the dispatch, loading, or shipping point but have not yet arrived at the receipt, offloading, or delivery point. Also called in transit inventory or stock in transit. |
| Goods receipt | Document issued by a port, warehouse, shed, or terminal operator acknowledging receipt of goods specified therein on conditions stated or referred to in the document |
| Goods received note | Documentation raised by the recipient of materials or products |
| Gooseneck | Gooseneck shaped front end of a trailer or chassis. Recess front bottom of a container to reduce the total height of the chassis plus container |
| Gopher | A search tool that presents information in a hierarchical menu system somewhat like a table of contents. |
| Government impelled | Cargo owned by or subsidised by the US Federal Government |
| Government bill of lading | A limited liability contract document-covering transportation of property from one place to another. It is a receipt to identify the consignee. |
| Government furnished materiel | Materiel in the possession of or acquired by the Government and later delivered or otherwise made available to a contractor. GFM is property that may be incorporated into or attached to a deliverable end item or that may be consumed or expended in performing a contract. GFM includes assemblies, components, parts, raw and processed materials, and small tools and supplies that may be consumed in normal use in performing a contract. |
| Grab a block pallet | A pallet used in distribution operations wherein the centre stringer or block is grabbed by a centre clamp to steady the pallet enabling goods to be stacked on it at an elevated height. These types of pallets may be made of wood or plastic |
| Grade | Steepness of a grade, expressed as a percentage. Example: A vehicle climbing a 5% grade rises 5 feet for every 100 feet of forward travel |
| Grade ability | Vehicle’s ability to climb a grade at a given speed. Example: A truck with a grade ability of 5% at 60 mph can maintain 60 mph on a grade with a rise of 5%. |
| Gravity conveyor | Types of conveyor that uses gravity to move materials. Skate wheel conveyor and roller conveyor are the most common types of gravity conveyor used, however, even a simple steel chute is essentially a gravity conveyor |
| Gravity roller conveyor | A conveyor which supports the load on a series of rollers with internal ball bearing rings mounted on axles at fixed intervals in a frame. Roller conveyors come in straight sections, curved sections and in various spur and merge sections. |
| Gravity wheel conveyor | Ideal for light duty handling requirements where the load is flat and smooth, gravity wheel conveyors support the load on a series of skate wheels mounted on a shaft in a frame. The conveyor sections can be either rigid (straight or curved) or flexible. In the latter case, the frame is actually an accordion frame capable of being expanded or curved, making it ideal for temporary applications such as the loading and unloading of over-the-road trucks. |
| Green belt | A green belt or greenbelt is a policy and land use designation used in land use planning to retain areas of largely undeveloped, wild, or agricultural land surrounding or neighbouring urban areas. |
| Green labelling | Environmentally friendly labels (eco-labels) on products which have passed certain specified tests. |
| Grid number | An indication of the position of a container in a bay plan by means of a combination of page number, column and line. The page number often represents the bay number |
| Gross | In economics, gross means before deductions. The antonym is net, meaning after deductions. |
| Gross axle weight rating | Maximum weight an axle is rated to carry by the manufacturer. Includes both the weight of the axle and the portion of a vehicle’s weight carried by the axle |
| Gross combination weight | Total weight of a loaded combination vehicle, such as a tractor-semi trailer or truck and full trailer(s). |
| Gross freight | Freight money collected or to be collected without calculating the expenses relating to the running cost of the ship for the voyage undertaken. |
| Gross inventory | Value of inventory at standard cost before any reserves for excess and obsolete items are taken. |
| Gross labouratory horsepower | Tested horsepower of a “bare” engine without fan, water pump, alternator, exhaust system or any other accessories |
| Gross margin | The difference between total revenue and the cost of goods sold. Synonym: gross profit margin. |
| Gross margin return on inventory investment (GMROII) | Ratio measuring inventory profitability as it relates to the gross profit margin earn on sales |
| Gross national product | A measure of a nation’s output; the total value of all final goods and services produced during a period of time. |
| Gross registered tons | A common measurement of the internal volume of a ship with certain spaces excluded. One ton equals 100 cubic feet; the total of all the enclosed spaces within a ship expressed in tons each of which is equivalent to 100 cubic feet. |
| Gross requirement | Demand for an item before netting against on-hand inventory and scheduled receipts. |
| Gross tonnage | The total carrying capacity of a vessel in units of 100 cubic feet |
| Gross weight | The total weight of the vehicle and the payload of freight or passengers. Weight of a vehicle, fully equipped and serviced for operation, including the weight of the fuel, lubricants, coolant, vehicle tools and spares, crew, personal equipment, and load. Weight of a container or pallet including freight and binding. See also net weight. |
| Grounding | Deliberate contact by a ship with the bottom while she is moored or anchored as a result of the water level dropping |
| Group code | A field or code that classifies an item, vendor, customer or other entity as part of a group that has common characteristics. Many reports, files and processing functions provide for the use of group codes instead of requiring individual entries |
| Group technology | The classification of items based on similar production processes and resources required. Used in facility design evaluation and in some scheduling systems |
| Groupage | A container with cargoes from/for different shippers/receivers, i.e. containing more than one shipper’s cargo. Otherwise known as LCL (Less than a container load) |
| Groupage Agent, groupeur | One who consolidates LCL consignments to offer to a carrier as an FCL |
| Groupage centre | A location where groupage takes place (road cargo) |
| Groupware | Software and systems that allow a distributed group of people to work on common activities, and include functions such as group calendars, real- time network meetings, common database access and others. |
| GRT | Gross Registered Tonnage |
| GTIN | See Global Trade Item Number |
| GTM | Global Trade Management. |
| Guarantor | A surety or guarantee, in finance, is a promise by one party (the guarantor) to assume responsibility for the debt obligation of a borrower if that borrower defaults. The person or company that provides this promise, is also known as a surety or guarantor. |
| Guidance systems | Guidance systems are used to guide automated guided vehicles through plants, guide lift trucks in very-narrow-aisle storage areas. Wire-guided and Rail-guided tend to be the most common guidance systems, but others including laser, optical systems, and magnetic tape are also available. See also Wire-guided, Rail-guided, Laser-guided, Optical-guided. |
| Guaranteed pickup and delivery service | An additional level of service whereby dates of service are guaranteed, with the mover providing reimbursement for delays. |
| Guaranty | A contract to see performed what another has undertaken |
| Gusset | An element added for additional stiffness |
Sales forecasting
and inventory optimization
Become a retail mastermind you always wanted to be.