ITS Traffic Systems Glossary

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3PL
Third Party Logistics.
Automated Routing
Defined as the use of technology to create a faster more efficient routing process - see routing tools.
Batched Payments
Payments that are aggregated to reduce per check costs.
Bill Of Lading
A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.
Bill Of Lading Number
A unique number assigned to the bill of lading for tracking purposes.
Blind Verification
A verification process that uses two or more persons to complete the data entry process. The second person is 'blind' to the work that was done by the first person and enters all work independently. Discrepancies are then investigated to eliminate data entry error.
Carrier
The transportation provider.
Carrier Payment Audit
An audit designed to review payments that have been made to carriers to ensure accuracy and timeliness.
Check Register Summary
A summary provided to all ITS clients that permits them to view a complete detail of all processed checks.
Disbursement
The issuance of funds.
Dual Entry
See blind verification.
Duplicate Billing Detection
An ITS Specialty! Duplicate billing detection protects the company from erroneous duplicate payments that can result from duplicate submission of invoices.
Freight
Resources that need to be transported from point A to point B.
Freight Bill Audit
The process by which invoices submitted by freight carriers to a corporation are reviewed for correctness, completeness, and contract compliance - often auditors correct the errors on the face of the invoice in a process called 'freight bill justification' .
Freight Bill Auditing
See freight bill audit.
Freight Bill Inquiry
An ITS web-based system which allows users to access their freight bill audit and payment information anytime - day or night, 365 days a year - allowing carrier to view any corrections and resolve any discrepancies (freight bill resolution) .
Freight Bill Justification
See freight bill audit.
Freight Bill Post-Auditing
The process of auditing a freight invoice after payment has been made.
Freight Bill Rating
The freight bill 'rate' is the charge for transporting freight billed by the carrier. Freight bill rating is the process by which the actual charges are compared to the contract and adjusted for error.
Freight Bill Reports
The portion of the ITS website dedicated to providing total freight payment transparency and visibility. The Freight Bill Reports are provided through Crystal reports - the most powerful reporting engine available. The user can choose from a number of standard reports or can create their own custom report in minutes!.
Freight Bill Resolution
See freight bill audit.
Freight Bill Review
See freight bill audit.
Freight Bill Status
The current status of a submitted freight bill in the ITS Freight Payment Process.
Freight Contract
An agreement between a company and a freight carrier that defines the areas of service, freight rates, accessorial costs, etc.
Freight Documentation
Documentation required either contractually, or by law, for freight transport including (but not limited to): bill of lading, proof of delivery, letter of credit, proof of insurance, etc.
Freight Efficiency Audit
An audit of the freight management system that provides insight into its existing strengths, opportunities and lacks with regard to rate and transit time, capacity commitments, equipment availability, dwell time, sailing frequency, etc.,and freight payment process. Also called a "Transportation Cost Audit" or "Supply Chain Audit" .
Freight Management
See logistics.
Freight Payment
The process of paying carriers for services rendered.
Freight Routing
The process by which the freight shipments between company and vendor or company and supplier are assigned to a specific carrier based upon the lowest negotiated price for the given weight, size, origin. Destination, mode, etc.
Freight Service Optimization
Optimization of freight costs on a wholistic level that goes beyond finding the lowest rate. Optimization, requires that the balance between lowest rate and transit time, capacity commitments, equipment availability, dwell time, sailing frequency, etc., is the most efficient, resulting in the greatest value per pound.
Lanes
See shipping lanes.
Logistics
The overall management of the way resources are acquired, transported and stored along the supply chain to the areas where they are required.
Outsourced
Services or goods that are subcontracted to a firm outside of an organization - most frequently to reduce the overall cost of providing the service or good.
Payment Summary
A summary provided to all ITS clients that permits them to view a complete detail of all payments that have been made to carriers.
Post-Audit
See freight bill post-auditing.
Pre-Audit
The process of auditing a freight invoice before payment has been made.
Pro Number
A sequential numbering system used to identify freight bills.
Rating
The process within the freight audit that adjusts invoices for errors in rates.
Routing
See freight routing.
Routing Guide
A listing of all routing instructions (inbound and outbound) for a company compiled in a single body of work for use by individuals and management within the supply chain .
Routing Tools
Any software, or internet program designed to streamline the process of creating, using, and/or updating a rounding guide .
Shipping Lanes
A term used to indicate the general flow of merchant shipping between two specific departure/terminal areas.
Supply Chain
The supply chain represents the flow of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.
Supply Chain Audit
See freight efficiency audit.
Third-Party
An entity that is not a party to an existing contract or agreement for services and/or products.
Third-Party (Freight) Payment Provider
A separate entity (such as ITS Traffic) that facilitates that payments to the carriers through a central payment system to reduce to total cost of payment process through the enterprise. This process is typically accompanied by the freight audit process to ensure accuracy and to reduce overpayments due to billing errors & duplicate billings.
Transportation Cost Audit
See freight efficiency audit.
Transportation Management
See logistics.
Webrequest
ITS' web reporting system.