Abc analysis: a classification of items in an inventory according to importance defined in terms of criteria such as sales volume and purchase volume. Abc classification

Ex Works: The price that the seller quotes applies only at the point of origin. The buyer takes possession of the shipment at the point of origin and bears all costs and risks associated with transporting the goods to the destination.
4PL: *See Fourth Party Logistics (4PL)
5-Point Annual Average: Method frequently used in PMG studies to establish a representative average for a one-year period. Calculation: [12/31/03 + 3/31/04 + 6/30/05 + 9/30/06 + 12/31/07]/5
5-S Program: A program for organizing work areas. Sometimes referred to as elements, each of the five components of the program begins with the letter "S." They include sort, systemize, shine or sweep, standardize, and sustain. In the UK, the concept is converted to the 5-C program comprising five comparable components: clear out, configure, clean and check, conformity, and custom and practice.
* Sort - get rid of clutter; separate out what is needed for the operations. * Systemize/Set in Order - organize the work area; make it easy to find what is needed.
* Shine - clean the work area; make it shine.
* Standardize - establish schedules and methods of performing the cleaning and sorting.
* Sustain - implement mechanisms to sustain the gains through involvement of people, integration into the performance measurement system, discipline, and recognition.
The 5-S program is frequently combines with precepts of the Lean Manufacturing Initiative. Even when used separately, however, the 5-S (or 5-C) program is said to yield excellent results. Implementation of the program involves introducing each of the five elements in order, which reportedly generates multiple benefits, including product diversification, higher quality, lower costs, reliable deliveries, improved safety, and higher availability rate.
F
FA: *See Functional Acknowledgement (FA)
FAS: See Final Assembly Schedule
Fabricator: A manufacturer that turns the product of a raw materials supplier into a larger variety of products. A fabricator may turn steel rods into nuts, bolts, and twist drills, or may turn paper into bags and boxes.
Facilities: The physical plant, distribution centers, service centers, and related equipment.
Failure Modes Effects Analysis (FMEA): A pro-active method of predicting faults and failures so that preventive action can be taken.
Fair Return: A profit level that enables a carrier to realize a rate of return on investment or property value that the regulatory agencies deem acceptable for that level of risk.
Fair Value: The value of the carrier's property; the calculation basis has included original cost minus depreciation, replacement cost, and market value.
FAS: *See Free Along Side. (FAS)
FCL: See Full Container Load (FCL).
Federal Aviation Administration: The federal agency that administers federal safety regulations governing air transportation.
Federal Maritime Commission: Regulatory agency responsible for rates and practices of ocean carriers shipping to and from the United States.
FEU: Forty-foot equivalent unit, a standard size intermodal container.
FG: See Finished Goods Inventory.
FGI: See Finished Goods Inventory.
Field Finished Goods: Inventory which is kept at locations outside the four walls of the manufacturing plant (i.e., distribution center or warehouse).
Field Service Parts: Parts inventory kept at locations outside the four walls of the manufacturing plant (i.e., distribution center or warehouse.
Field Services: See After-Sale Service.
Field Warehouse: A warehouse that stores goods on the goods' owner's property while the goods are under a bona fide public warehouse manager's custody. The owner uses the public warehouse receipts as collateral for a loan.
FIFO: See First In First Out.