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Science

Supply Chain Glossary

3PL

    3PL


    3PL:A third-party logistics provider (3PL) is a company that provides outsourced logistics services to customers who are unable or unwilling to perform these services themselves. The 80/20 rule, also known as the Pareto principle, is a business principle that states that 80% of a company's sales come from 20% of its customers. A items are items that are in high demand and have a short shelf life. ABC analysis is a method of categorizing inventory based on its importance. ABC classification is a method of grouping items together based on their value. Active inventory is inventory that is in use or is likely to be used in the near future. An advanced shipping notice (ASN) is a document that contains information about an upcoming shipment.

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