F2F Class Notes (Nemo)[R]

Vocabulary

Contingent Goods. These are the goods which are also not in existence at the time of contract of sale. The contingent goods  are a type of future goods.

House Bill of Lading. There are two types of bill of lading. These are house bill of lading, or HBL and master bill of lading, or MBL. A House Bill of Lading is a transportation contract which takes place between a customer and a forwarder.

optimize (v): 1-to make something as good as possible:
E.g.: We need to optimize our use of the existing technology.
visibility

adherence (n)-the fact of someone behaving exactly according to rules, beliefs, etc.:
E.g.: He was noted for his strict adherence to the rules.
to adhere (v)

reliability (n): 1-how accurate or able to be trusted someone or something is considered to be:
E.g.: Competence and reliability are necessary  for any job.

capability (n): 1- the ability to do something:
E.g.: These tests are beyond the capability of an average twelve-year-old.

consolidation (n): 1 [TRANSPORT]- the process of putting items together in order to send or transport them:
E.g.: Consolidation can significantly reduce the cost of moving smaller volumes of goods.
2-the situation in which two or more things, for example companies or organizations, are joined together:
E.g.: Greater market share can be achieved in the long term through industry consolidation.

consolidate (v): 1-to combine several things, especially businesses, so that they become more effective, or to be combined in this way:
E.g.: The two firms consolidated to form a single company.

similarly situated-同样位置

merchant (n): 1-a person whose job is to buy and sell products in large amounts, especially by trading with other countries:
E.g.: a wine/grain merchant

merchandise (n): 1-goods that are bought and sold:
E.g.: Shoppers complained about poor quality merchandise and high prices.
E.g.: Japan exported $117 billion in merchandise to the US in 1999.

vendor (n): someone who is selling something:
E.g.: For the past few months she’s been working as a street vendor, selling fruit and vegetables.
E.g.: The vendor of the house wants to exchange contracts this week.

portfolio (n): 1-the range of products or services that a company offers, or the businesses that someone owns:
E.g.: Customer reaction to our product portfolio has been extremely positive.
E.g.: The hotel group’s brand portfolio includes about 15 complementary brands, from luxury to budget hotels.
strong/ broad portfolio
build up/expand a portfolio

Pronunciation

reliability-/rɪˌlaɪəˈbɪləti/
capability-/ˌkeɪ.pəˈbɪl.ə.t̬i/

https://www.ups-scs.com/transportation/lcl.html
LCL (Less-Than-Container Load)

Optimize Transit Times and Minimize Costs with LCL Ocean Freight
When you don’t have enough cargo to fill an ocean freight container, UPS Supply Chain Solutions offers LCL service between major ports worldwide. We have an extensive network of capabilities and container freight stations. That means we can offer you space within a container that is shared with other customers’ goods to deliver economical usage-based costing, while providing Full-Container-Load (FCL) frequency, routing and visibility.

As one of the world’s leading Non-Vessel Operating Common Carriers (NVOCC), we can provide LCL service that features:

Global network coverage – over 1,000 facilities in over 180 countries
Frequent sailings with fast transit times
Reliability and adherence to scheduled sailings
Competitive pricing
Shipment visibility for multiple freight modes
Capability of providing end-to-end solutions
LCL keeps goods moving in your supply chain because you can send them as soon as they are ready rather than waiting until you have a full container. The following services are included:

Receipt of customer’s cargo at the origin Container Freight Station (CFS)
Consolidation of customer’s cargo with cargo from similarly situated merchants
Issuance of house bill of lading
Ocean shipment
Deconsolidation at destination CFS and release to consignee
LCL service can be effectively combined with these service offerings to provide an end-to-end solution:

Supplier Management, for effective management of vendors and goods prior to shipment
Transportation of goods to CFS for consolidation
Freight insurance and financing products from UPS Capital
Customs Brokerage services for entry and clearance
Transportation of shipment and delivery to consignee following deconsolidation at destination CFS
Our LCL service is unique because it adheres to fixed scheduling, operates with UPS economies of scale, and fully integrates with our superior visibility tools and broad portfolio of value-added services.