Glossary

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Credit Period refers to the timeframe extended by suppliers to customers within which customers are required to payback the cupplier for services already rendered

Related Glossaries

Dangerous Goods

Dangerous goods refer to certain hazardous goods that the secretary of transportation has recognized as dangerous and are capable of imposing a threat to health, safety, and property while being shipped. Most courier firms ban the shipment of certain items because of the nature of the goods. These items must be carried with extreme caution and must be declared prior to shipment. Some harmful commodities are forbidden from shipping by one or more modes of transportation. Because of their chemical or physical qualities, certain commodities are designated as DG goods. Crackers, gases, flammable liquids, corrosive substances, and so on are examples.

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COD Remittance Cycle

The cycle or frequency at which COD remittance is processed is known as the COD remittance cycle. There are two components to COD remittance cycles - Frequency of remittnace and Delay in remittance. Frequency of remittance (measured in days per week) refers to how many times remittance is processed within a week Delay in remittance refers to the number of days post delviery after which the remittance becomes liable to be processed by the courier partner to the seller. For instance if the seller is on a twice a week 7 day deferred cycle, that would mean remittance against a shipment becomes due 7 days post delivery of the shipment and is processed in tranches two time a week.

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Reverse Logistics

The process of returning items to their point of origin from the buyer to the manufacturer or supplier is known as reverse logistics. Reverse logistics is an important part of the supply chain and cannot be ignored. With the increase in eCommerce, the number of returns has also increased, making it a big challenge for sellers. So it important to streamline reverse logistics effectively and effeciently.

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Checkout

The final stage in a customer's online purchasing process is the checkout. Consumers have to provide shipping information as well as select the methods of payment availaible on the website. The simplicity of your online store checkout procedure will also affect your website conversion rate.

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