Glossary of Terms

for Third Party Logistics, Supply Chain Management & Fulfillment Operations

Many of the terms used in the world of third-party logistics do not appear in a standard dictionary, nor is there a dictionary of fulfillment or warehouse management definitions. We offer this glossary to help you better understand our business. If you have a term you would like defined, or have a definition that you would like to share with us, please send us an e-mail.

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Jump to terms:

- value added services
- virtual inventory

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V

value added services
Services that a 3PL firm will provide to its clients to create value beyond the replacement value of the products. Such services can include light assembly, kitting, picking and packing, sourcing of collateral materials, invoicing, and customer service.

virtual inventory
Inventory that is stored in computer files as opposed to the physical inventory of the product in the warehouse.