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| NAFTA
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Please refer North American Free Trade Agreement
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| Narrow aisle
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Describes lift trucks that operate in aisles of 8' to 10'. Narrow-aisle trucks are generally stand-up vehicles such as reach trucks. Also see vary narrow aisle (vna) and read article the aisle width decision
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| National Carrier
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A for-hire certificated air carrier that has annual operating revenues of 75 million to 1 billion; the carrier usually operates between major population centers and areas of lesser population.
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| National Industrial Transportation League
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An association representing shippers' and receivers' interests in matters of transportation policy and regulation.
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| National Motor Bus Operators Organization
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An industry association representing common and charter bus firms; now known as the American Bus Association.
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| National Motor Freight Classification (NMFC)
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A tariff, which contains descriptions and classifications of commodities and rules for domestic movement by motor carriers in the US.
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| National Railroad Corporation
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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.
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| Nationalization
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Public ownership, financing, and operation of a business entity.
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| Negative inventory
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An inventory system (computer) condition whereby the on-hand inventory balance is listed as a quantity less than zero. Check out my article on negative inventory
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| Negotiable BOL
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Provides for the delivery of goods to a named enterprise or to their order (anyone they may designate), but only upon surrender of proper endorsement and the bill of lading to the carrier or the carrier's agents. Also known as an order bill of lading.
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| Negotiations
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A set of discussions between two or more enterprises to determine the business relationship.
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| Net Assets
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Total net assets are calculated as Total Assets - Total Liabilities; where the total assets are made up of fixed assets (plant, machinery, and equipment) and current assets which is the total of stock, debtors, and cash (also includes A/R, inventory, prepaid assets, deferred assets, intangibles, and goodwill). The total liabilities are made up in much the same way as long-term liabilities and current liabilities (includes A/P, accrued expenses, deferred liabilities).
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| Net Weight
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The weight of the merchandise, unpacked, exclusive of any containers.
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| New Product Introduction (NPI)
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The process used to develop products that are new to the sales portfolio of a company.
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| NITL
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Please refer National Industrial Transportation League
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| NMFC
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Please refer National Motor Freight Classification
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| No Location (No Loc)
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A received item for which the warehouse has no previously established storage slot.
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| Node
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A fixed point in a firm's logistics system where goods come to rest; includes plants, warehouses, supply sources, and markets.
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| Non Vessel Operating Common Carrier (NVOCC)
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A firm that offers the same services as an ocean carrier, but which does not own or operate a vessel. NVOCCs usually act as consolidators, accepting small shipments (LCL) and consolidating them into full container loads. They also consolidate and disperse international containers that originate at or are bound for inland ports. They then act as a shipper, tendering the containers to ocean common carriers. They are required to file tariffs with the Federal Maritime Commission and are subject to the same laws and statutes that apply to primary common carriers.
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| Non-Certificated carrier
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A for-hire air carrier that is exempt from economic regulation.
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| Nonconformity
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Failure to fulfill a specified requirement.
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| Non-Negotiable BOL
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Provides for the delivery of goods to a named enterprise and to no one else. Also known as a straight bill of lading.
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| Normal distribution
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Term used in statistical analysis to describe a distribution of numbers in which the probability of an occurrence, if graphed, would follow the form of a bell shaped curve. This is the most popular distribution model for determining probability and has been found to work well in predicting demand variability based upon historical data.
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| North American Free Trade Agreement (NAFTA)
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A free trade agreement, implemented January 1, 1994, between Canada, the United States and Mexico.
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| NOS/NES
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Please refer Not Otherwise Specified / Not Elsewhere Specified.
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| Not otherwise specified/Not elsewhere specified (NOS/NES)
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This term often appears in ocean or airfreight tariffs respectively. If no rate for the specific commodity shipped appears in the tariff, then a general class rate (for example printed matter NES) will apply. Such rates usually are higher than rates for specific commodities.
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| Notify Party
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The name of an organization, or individual, that should be notified when a shipment reaches its destination.
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| NOX
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Oxides of Nitrogen
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| NPI
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Please refer New Product Introduction.
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| NVOCC
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Please refer Non-Vessel Operating Common Carrier
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