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Common Definitions in Asian Manufacturing, Trading, and Marketing

Sourcing
To obtain (parts or materials) from another business, country, or locale for manufacture.

Lead-time
The time between the initial stage of a project or policy and the appearance of its results.

Sampling
The act, process, or technique of creating a prototype of a proposed item to be produced.

Tooling
To prepare machinery to specific specifications for the purpose of mass production.

Prototyping
To create an original type, form, or instance of something serving as a typical example, basis, or standard for that which is wishing to be created for mass production.

Communication Block
The act of wreaking havoc (often hysterically) due to a small or large verbal utterance. Generally massive misunderstandings ensue.

Ramp Up
To increase the effort involved in the production and/or sales process.

Terms
Conditions under which a seller will make a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance,
cash on delivery, deferred payment period of 30 days or more, etc.

Incoterms
"International Commercial Terms". Thirteen terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller.
These terms are (1) C&F (Cost And Freight), (2) CIF (Cost, insurance, And Freight), (3) Delivered At Frontier, (4) Delivered Duty Paid, (5) Ex quay, (6) Ex ship,
(7) Ex works, (8) FAS (Free Alongside Ship), (9) FOB (Free On Board), (10) FOB Airport, (11) FOR/FOT (Free On Rail/Free On Truck), (12) Free carrier, (13)
Free Carriage Paid To and Free Carriage Paid To And insurance.

4PL
Arrangement in which a firm outsources its logistical operations to a specialist firm (the third party logistics) and hires another specialist firm (the fourth party) to coordinate
the activities of the third parties.

Pick and Pack
Merchandise shipment process where items are selected (picked) from a warehouse according to what has been ordered by each customer, and then packed for shipment.

FIFO
Stands for First In First Out. A method of inventory accounting in which the oldest remaining items are assumed to have been the first sold.

Kitting
The act of extracting (or "Picking") parts from Stock that are required to produce a Released Works Order.

Assembly
The act of compiling stock items that have been picked to fulfill an order.

Reverse Logistics
All operations related to the reuse of products and materials.

Quality Control
Maintenance of standards of quality of manufactured goods.

Secondary Quality Control
A secondary quality control/inspection is one conducted by an independent party, and is used to verify and validate the factory's quality control/inspection. This should be conducted on site at the factory by your agent.

Channels
The portals through which product is sold.

Distributor
A foreign agent who sells for a supplier directly and maintains an inventory of the supplier's product.