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Terminology

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National carrier: - A for-hire certificated air carrier that has annual operating revenues of $75 million to $1 billion



National Industrial Traffic League: - An association representing the interests of shippers and receivers in matters of transportation policy and regulation.



National Motor Bus Operators Organization: - An industry association representing common and charter bus firms



National Motor Freight Classification (NMFC): - A tariff, which contains descriptions and classifications of commodities and rules for domestic movement by motor carriers in the U.S.



National Railroad Corporation: - Also known as Amtrak, the corporation established by the Rail Passenger Service Act of 1970 to operate most of the United States' rail passenger service.



National Stock Number (NSN): - The individual identification number assigned to an item to permit inventory management in the federal (U.S.) supply system.



Nationalization: - Public ownership, financing, and operation of a business entity.



Net Asset Turns: - The number of times you replenish your net assets in your annual sales cycle. A measure of how quickly assets are used to generate sales.  Calculation: Total Product Revenue / Total Net Assets



Net Assets: - Total Net assets are calculated as Total Assets - Total Liabilities



Net Change MRP: - An approach in which the material requirements plan is continually retained in the computer. Whenever a change is needed in requirements, open order inventory status, or bill of material, a partial explosion and netting is made for only those parts affected by the change. Antonym: Regeneration MRP.



Net Requirements: - In MRP, the net requirements for a part or an assembly are derived as a result of applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock. Net requirements, lot-sized and offset for lead time, become planned orders.



New Product Introduction (NPI): - The process used to develop products that are new to the sales portfolio of a company.



NMFC: - See National Motor Freight Classification



No location (No Loc): - A received item for which the warehouse has no previously established storage slot.



Node: - A fixed point in a firm's logistics system where goods come to rest



Non-Durable goods: - Goods whose serviceability is generally limited to a period of less than three years (such as perishable goods and semidurable goods).



Non-vessel-owning common carrier (NVOCC): - A firm that consolidates and disperses international containers that originate at or are bound for inland ports.



Noncertified carrier: - A for-hire air carrier that is exempt from economic regulation.



Nonconformity: - Failure to fulfill a specified requirement. See: blemish, defect, imperfection.



NPI: - See New Product Introduction



NSN: - See National Stock Number