Glossary

Now what exactly was …? The world of logistics is full of technical terms, and new terms are constantly being added. Our glossary explains them all in a nutshell. If a term you are looking for is not listed here, please don't hesitate to contact us. We'll be happy to add your technical term to our list.



Entries beginning with «i»

IATA
International Air Transportation Association

The international association IATA, established in 1945 and headquartered in Montreal, Canada, helps with the coordination of flight schedules and regulates airfares and shipping rates.

Incoterms
International Commercial Terms

Incoterms for short, define the standard terms and conditions of delivery and the rights and obligations of vendors and purchasers regarding delivery of the goods. They are the basis for regulated international transportation of goods. The differences between the various Incoterms relate to the exact point from which the costs and risks are to be borne by the purchaser. There are four main groups or clauses:

E clause: collect clause; the transport costs and the risks pass to the purchaser on collection of the goods.
F clause: the costs and risks of main transport are borne by the purchaser.
C clause: the costs of main transport are borne by the supplier, the risks are borne by the purchaser.
D clause: arrival clause; the transport costs and the risks are borne by the supplier.

› cf. EXW (Ex-works)

Insourcing

Insourcing describes the contracting in of services within one's own company which were previously provided externally.

Insurance policy/certificate

An insurance policy (or certificate) is a signed document proving that an insurance contract has been concluded with an insurer. An individual policy certifies that a single consignment of goods has been insured, while a general or open policy is proof of continuous insurance coverage providing protection over a longer period of time for all shipments carried out and reported to the insurer in due time. The insurer is only under obligation to pay on presentation of the policy. The insurance policy or certificate is one aspect of the contractual relationship with the insurer and is used as proof that an individual consignment of goods is insured.

Intermodal

The coordinated movement of freight using different methods of transport, often a combination of truck and rail.

Intrastat

Intrastat is the system for collecting statistics on the trade in goods between countries of the European Union. It began operation on 1 January 1993, when it replaced customs declarations as the source of trade statistics within the EU. The requirements of Intrastat are similar in all member states of the EU. Trade statistics are an essential part of a country's balance of payments account and are regarded as an important economic indicator of the performance. The statistics are used by government departments to help set overall trade policy and generate initiatives on new trade areas.

Inventory

In logistics, the term inventory refers to raw materials, unfinished goods, components and/or end products. The term may be applied to individual warehouses, to storage areas or to a company's complete stock of warehouse items.

IRU
International Road Transport Union

The IRU, through its national associations, represents the entire road transport industry world-wide. It speaks for the operators of coaches, taxis and trucks, from large transport fleets to driver-owners. In all international bodies that make decisions affecting road transport, the IRU acts as the industry's advocate. By working for the highest professional standards, the IRU improves the safety record and environmental performance of road transport and ensures the mobility of people and goods.

ISO
International Organization for Standardization

International Standards Organization also referred to as the International Organization for Standardization. This is a worldwide federation of national standards member bodies. It consists of technical committees made up of governmental and non-governmental international organizations. Draft international standards adopted by the technical committees are circulated to member bodies for voting. Adoption of standards requires approval of at least 75% of member bodies that cast a vote.

ISO 9001:2008

ISO 9001 is a quality management standard. It applies to all types of organizations. It doesn't matter what size they are or what they do. It can help both product and service oriented organizations achieve standards of quality that are recognized and respected throughout the world.