Warehouse Dictionary
Zero Inventory thru Zone Price
Z
- Zero Inventory
- A term initially used to represent the optimum stock level in a just-in-time system and the idea that inventory is a liability instead of an asset.
- Zone-batch picking
- A combination of zone and batch picking, where multiple pickers each pick portions of multiple orders.
- Zone of Rate Flexibility
- Railroads may raise rates by a percentage increase in the railroad cost index that the ICC determines; the railroads could raise rates by 6 percent per year through 1984 and 4 percent thereafter.
- Zone of Rate Freedom
- Motor carriers may raise or lower rates by 10 percent in one year without ICC interference; if the rate change is within the zone of freedom, the rate is presumed to be reasonable.
- Zone of Reasonableness
- A zone or limit within which air carriers may change rates without regulatory scrutiny; if the rate change is within the zone, the new rate is presumed to be reasonable.
- Zone Picking
- A method of subdividing a picking list by arrears within a storeroom for more efficient and rapid order picking. A zone-picked order must be grouped to a single location and the separate pieces combined before delivery, or must be delivered to different locations such as a work center.
- Zone Price
- The constant price of a product at all geographic locations within a zone.