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- Import LicenseAn official authorization issued by a government agency that permits a named importer to bring specified goods into a country. It typically lists the importer and seller, product description and tariff classification, country of origin, quantity or value limits, and a validity period, and may be single use or multiple use. Licenses are required for regulated or restricted items such as pharmaceuticals, chemicals, agricultural goods, weapons, and products subject to quotas or sanctions before customs release.
- Import QuotaA legal cap on the quantity or value of a specified product that may be imported during a defined period. The limit is set by tariff classifications and measured in units such as pieces, weight, volume, or declared value. Quotas may be global across all origins or allocated by exporting country. Administration can include quota licenses or certificates and tariff rate quotas, where a set amount enters at one duty and volumes above it face a higher duty. Customs enforces the cap at entry.
- In House FulfillmentA fulfillment model where a retailer or brand performs warehousing and order handling itself rather than using a third party logistics provider. It covers receiving and storing inventory, maintaining stock records, picking and packing orders, printing shipping labels, tendering shipments to carriers, managing returns, and related recordkeeping. Operations use the company’s own space, staff, and systems, including compliance with packaging, carrier, and documentation requirements.
- Inbound LogisticsThe planning, coordination, and control of goods moving from suppliers to a warehouse, plant, or fulfillment center. It includes purchase order management, carrier selection and routing, appointment scheduling, international paperwork and customs clearance when required, transport and delivery, receiving, unloading, inspection and discrepancy handling, putaway, and updates to inventory systems.
- IncotermsStandard trade definitions published by the International Chamber of Commerce used in international and domestic sales contracts. They specify the named place of delivery, the point where risk transfers, which party arranges and pays for transport, export and import clearance, insurance when a rule requires it, and required documents. Examples include EXW, FOB, CIF, and DDP. Incoterms allocate costs and risk but do not set price, transfer ownership, or dictate payment terms.
- Intermodal DrayageTruck transport that moves ocean or rail containers over short distances between nodes in an intermodal move, for example from a port or rail ramp to a warehouse or another carrier. It uses ISO containers on a chassis and may include pickup, live unload or drop, and the return of the container and chassis or an empty to a designated terminal. Timing follows gate hours, appointments, and rail or vessel cutoffs, and charges can include free time, detention, and demurrage under carrier and terminal rules.
- Intermodal ShippingMovement of freight in one continuous route using two or more transportation modes without unloading the cargo itself. Transfers occur at terminals using standardized containers or trailers across truck, rail, and ocean. Shipments are documented under a single or linked bill of lading, with charges that may include linehaul, drayage, and terminal handling. Tracking uses equipment identifiers such as container numbers and chassis identifiers during handoffs.
- Intermodal TransportationCoordinated movement of cargo across multiple transport modes in one journey while the goods remain in the same container, swap body, or trailer. Transfers happen at rail ramps and marine terminals using lifting equipment. Typical legs include origin drayage, linehaul by rail or vessel, and destination drayage under a through or linked bill of lading. Tracking relies on equipment identifiers such as container, trailer, and chassis numbers across carriers.
- IntralogisticsManagement of material and information flows within a facility or campus from inbound receiving to staging, storage, picking, packing, value added services, and outbound shipping. It covers layout design, equipment and labor planning, and control systems such as WMS, WES, conveyors, sorters, and autonomous mobile robots. Movement and traceability are coordinated between docks, storage locations, workstations, and production lines and tracked with metrics such as throughput, order cycle time, and inventory accuracy.
- Inventory Accuracy RateThe percentage of inventory records that match a verified physical count. Calculated as counted quantity divided by recorded quantity, or as one minus the number of discrepancies divided by the number of records checked. Reported by item, location, or facility and by attribute such as quantity, location, lot or serial number, and condition. Derived from cycle counts or full physical inventories over a defined period.
- Inventory AgingAnalysis of how long inventory has been on hand, measured by days since receipt or last movement and summarized in time buckets such as 0 to 30 days, 31 to 60, and older. It identifies aging stock including slow moving and obsolete items, supports valuation and write down decisions, and informs storage, replenishment, and disposition actions. Common outputs include aging reports by SKU, location, and value, the share of inventory beyond a target age, and average days on hand.
- Inventory AuditA structured examination that compares physical stock with inventory records to verify quantity, location, condition, valuation, and ownership. Procedures include test counts, tracing transactions to and from source documents such as purchase orders, receipts, transfers, and shipments, cutoff checks at period end, and reconciliation of variances. Findings update records and support financial reporting and compliance. Audits may be conducted by internal teams or independent auditors and may be cycle based or full counts.
- Inventory Cycle TimeThe elapsed time between receiving goods into stock and their removal through sale, shipment, or consumption. Often stated in days as days in period divided by inventory turnover. It may also be estimated as average inventory on hand divided by average daily demand. The metric shows how long items remain in storage and informs replenishment and capacity planning.
- Inventory ForecastingThe practice of estimating future stock needs over a defined horizon using data on past demand, on hand quantities, lead times, and open orders. Methods include moving averages, exponential smoothing, and time series models. Results guide reorder points, safety stock levels, and purchase or production schedules. Accuracy is often tracked with measures such as mean absolute percentage error and forecast bias.
- Inventory ManagementThe planning, tracking, and control of stock from purchase through storage, replenishment, picking, and disposition. It applies methods such as ABC analysis, reorder points, safety stock, economic order quantity, cycle counting, and lot or serial tracking. Decisions draw on demand forecasts, lead times, and on hand balances, typically recorded in WMS or ERP systems with barcodes or RFID. Performance is measured with inventory turnover, days of inventory on hand, carrying cost, and fill rate.
- Inventory TurnoverA metric showing how many times inventory is sold or used and replenished during a reporting period. Calculated as cost of goods sold divided by average inventory valued at cost, with average inventory commonly taken as beginning plus ending inventory divided by two. Some organizations use a retail version based on net sales. Days of inventory on hand equals 365 divided by inventory turnover.