Sales forecasting
and inventory optimization
Became a retail mastermind you always wanted to be.
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Dictionary J
| Term | Explanation |
|---|---|
| Jacket | A wood or fiber cover placed around such containers as cans or bottles. |
| Jackpot Line | Usually used with automated systems such as automated conveyor systems, a Jackpot Line refers to an area where exceptions are routed. Exceptions may include orders that could not be completed (shortages or WMS error), orders requiring special processing, or weight or size exceptions. The terms Jackpot Lane, or Jackpot Area are also used to describe similar exception areas. |
| Jacob’s Ladder | A rope ladder suspended from the side of a vessel and used for boarding. |
| JANUS | An information exchange system on industrial health and safety. |
| Jelly bean | A generic term for a low cost computer chip that performs simple tasks such as monitoring temperature. |
| Jettison | The process of throwing cargo overboard when the ship is in danger is an act of jettison. The division of the responsibility among the shippers and ship owner for an act of jettison which is done for the good of all shipments aboard is provided for in the maritime law and insurance. |
| Jetty | A mole or breakwater, running out into the sea to protect harbour or coast. It is sometimes used as a landing-pier. |
| JG-DM | Joint Group on Depot Maintenance (JG-DM): The U.S. Dod flag level officers and civilians from each service that are responsible for depot maintenance. This group is responsible to review the depot maintenance function to achieve effective and affordable support for the nation’s weapon systems. |
| Jib | Projecting arm of a crane. Attachment connected to the top of a crane boom. |
| Jidoka | The concept of adding an element of human judgment to automated equipment. In doing this, the equipment becomes capable of discriminating against unacceptable quality, and the automated process becomes more reliable. This concept, also known as autonomation, was pioneered by Sakichi Toyoda at the turn of the twentieth century when he invented automatic looms that stopped instantly when any thread broke. This permitted one operator to oversee many machines with no risk of producing large amounts of defective cloth. The term has since been extended beyond its original meaning to include any means of stopping production to prevent scrap (for example the and on cord which allows assembly-plant workers to stop the line), even where this capability is not built-in to the production machine itself. |
| JIT II | Vendor-managed operations taking place within a customer’s facility. JIT II was popularised by the Bose Corporation. The supplier reps, called “inplants”, place orders to their own companies, relieving the customer’s buyers from this task. Many also become involved at a deeper level, such as participating in new product development projects, manufacturing planning (concurrent planning). |
| Jobber | A middleman who buys and sells merchandise for others. |
| Joint agency tariff | A tariff that is published on behalf of two or more transportation rate bureaus applying to traffic moving between the respective geographic jurisdictions. |
| Joint agent | An official who acts as agent for two or more carriers. |
| Joint boards | In administrative regulatory law, when a case involves two or more jurisdictions, a joint board may be established with representatives of each to hear the case and make the decision. |
| Joint Computer-Aided Acquisition and Logistic Support | The JCALS program is the Department of Defense’s lead system for implementation of CALS. The functionality of JCALS will provide automation of technical manuals and other maintenance documents. |
| Joint cost | A type of common cost where products are produced in fixed proportions, and the cost incurred to produce on product necessarily entails the production of another; the bankhaul is an example. |
| Joint metrics | Application of common performance measures that are applied by two or more firms. The metrics might be related to customer service or financial measures. |
| Joint Rate | A rate over a route that involves two or more carriers to transport the shipment. |
| Joint Routes | Routes established by two or more carriers for the continuous through movement of traffic via their respective lines. |
| Joint Supplier Agreement (JSA) | Indicative of Stage 3 Sourcing Practices, the JSA includes terms and conditions, objectives, process flows, performance targets, flexibility, balancing and incentives. |
| Joint traffic | Freight is transported by two or more carriers between origin and destination. |
| Joint Venture | A joint activity of two or more companies, usually performed under a common name. |
| Just In Time | An inventory control system that controls material flow into assembly and manufacturing plants by coordinating demand and supply to the point where desired materials arrive just in time for use. An inventory reduction strategy that feeds production lines with products delivered “just in time”. Developed by the auto industry, it refers to shipping goods in smaller, more frequent lots. |
| Just-in-sequence | A combination of just-in-time delivery with production line sequencing of delivered items. A customer will notify a supplier of the items needed and the sequence based on the customer’s manufacturing schedule, the supplier will then put together the shipment with the items in the appropriate sequence and deliver them to the customer (sometimes directly to the assembly line). This is most common in the automotive and similar assembly line industries where each unit on the assembly line can be configured differently (component options). |
| Just-In-Time Inventory | A method of controlling and reducing direct and work-in-process inventory by having suppliers deliver material “just in time” to manufacturing. |
Sales forecasting
and inventory optimization
Became a retail mastermind you always wanted to be.