Industry Terminology

Num A B C D E F G H I J K L M N O P Q R S T U V W

 

G

 

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 organizations to focus on continually re-evaluating, re-energizing, and enhancing their business relationship. All aspects of value delivery are scrutinized, 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.

 

Gateway: The connection that permits messages to flow freely between two networks.

 

GATT: General Agreement on Tariffs & Trade

 

GAWR : Gross Axle Weight Rating: manufacturer's rating of the maximum load that an axle can support.

 

GF-X: Global Freight eXchange: proprietary electronic trading platform for airlines and forwarders.

 

GI/GO: Goods In/Goods Out

 

GKN: A pallet (see CHEP).

 

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.

 

Globalization: The process of making something worldwide in scope or application.

 

GMROI: Gross Margin Return on Investment. Sale price minus cost of goods sold divided by original price or cost of goods. Also, GMROII for Gross Margin Return on Inventory Investment.

 

GO: Goods Out: see GI/GO.

 

GOH: Garments on Hanger

 

Goods Received Note (GRN): Documentation raised by the recipient of materials or products.

 

GPS: Global Positioning System: satellite based location system, used in vehicle positioning.

 

Graphical User Interface: The presentation of information on a computer monitor to make it easier, more friendly, and intuitive to work with the system (e.g., such as is seen on Windows or Apple Macintosh screens) generally accomplished through icons and other graphical representations accessed with a mouse, trackball, or other device that replaces keystrokes.

 

Graphics Interchange Format (GIF): A graphical file format commonly used to display indexed-color images on the World Wide Web. GIF is a compressed format, designed to minimize file transfer time over standard phone lines.

 

Green Card: Resident alien card which authorizes employment in the United States.

 

GRN: Goods Returned Note or Goods Received Note

 

Gross Inventory: Value of inventory at standard cost before any reserves for excess and obsolete items are taken.

 

Gross Margin: The difference between total revenue and the cost of goods sold. Syn: gross profit margin.

 

GST: General Systems Theory: the common basic features of all social, organic and mechanical systems.

 

GTW: Gross Tare Weight: see also TW and GVW.

 

Guideline: A document used to communicate the recommended procedures, processes, or usage of a particular business practice.

 

GVW : Gross Vehicle Weight: maximum rated weight of a truck, including its cargo. See also TW.

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