Glossary

3PL

Third-party logistics. 3PL in logistics and supply chain management is an organization's use of third parties to whom they outsource elements of its distribution, warehousing etc. HCST is primarily considered a third-party logistics provider.

4PL

Fourth-party logistics, also referred to as lead logistics. 4PL providers assume many of the same roles as 3PL providers but have a much broader role within the supply chain. While we are primarily considered a 3PL provider, we also offer lead logistics/4PL.

AEO

Authorized Economic Operator. A company or organization involved in the international movement of goods and that has been approved by a national Customs administration

Autonomous car

Also referred to as self-driving car, robot car and driverless car.

B/L

A bill of lading is a detailed list of a ship’s cargo.

Bonded warehousing

A type of warehousing in which companies place goods in storage without paying taxes or tariffs until the goods are ready for onward distribution.

Cold chain

A cold chain is a refrigerated temperature-controlled supply chain most commonly used for pharmaceutical products or foodstuffs. An unbroken cold chain is an uninterrupted series of refrigerated production, storage and distribution facilities which maintain a stipulated low-temperature range.

Compliance

Compliance means that products, services, processes and/or documents meet relevant requirements.

Dangerous goods

Dangerous goods are substances or articles that pose a risk to people, property or the environment, due to their chemical or physical properties. Dangerous goods are often confused with hazardous cargo, which relates to a slightly different risk. See hazardous cargo.

Digitalization

The adoption or increase in use of digital or computer technology.

Digitization

The conversion of analogue data into digital form.

Driverless car

Also referred to as self-driving car, robot car or an autonomous car.

FTL, FTL freight

Full truckload. When you want your shipment to occupy a truck exclusively. This can be because your shipment would fill a whole truck, or because you want to pay for a whole truck even though your shipment would not fill it completely. This may be the case if you want faster collection and delivery, but it is probably more expensive than booking LTL - less than truckload.

GDP

This abbreviation is used in two different contexts:
Good distribution practice = guidelines for the proper distribution of medicinal products for human use.
Gross domestic product = a monetary measure of the market value of all final goods and services produced in a period in a country or region.

Haulier

Haulier is used primarily in the UK, but elsewhere 'trucking company' is used more often.

Hazardous cargo

Hazardous substances are classified only on health effects, whether immediate or long term, while dangerous goods relate to physical or chemical effects, including fire, explosion, corrosion and poisoning, whether affecting property, the environment or people.

Healthcare vertical

A healthcare vertical provides services to several sectors including biotechnology and pharmaceuticals, medical devices and diagnostics, medical products and personal care and hospitals and care homes

Incoterms

They are standard sets of global trading terms and conditions, issued by the International Chamber of Commerce, designed to help traders, lawyers, transporters and insurers when goods are bought, sold and transported. Essentially, the 11 Incoterms rules set out obligations for trading partners (for example, who is responsible for transport, import and export clearance etc.) and, importantly, the point in the journey where risk transfers from the seller to the buyer.

Lead logistics

Lead logistics providers, also referred to as 4PL providers, assume many of the same roles as 3PL providers but have a much broader role within the supply chain.
HCST is primarily considered a 3PL provider but also provides lead logistics/4 PL: HCST Lead Logistics.

Load meter, load meter

1 linear meter of loading space in a truck or trailer for calculating freight cost. Used when goods cannot be stacked. One europallet is 0.4 load meters.

LTL, LTL freight

Less than truckload. When your shipment does not need a whole truck, you book "LTL" and your goods are shipped with other customers' goods. This is a lower-cost solution than booking a whole truck.

Robot car

Also referred to self-driving car, autonomous car and driverless car.

Self-driving car

Also referred to as robot car, autonomous car and driverless car.

SOP

A standard operating procedure is a set of instructions to help an organization’s employees carry out complex routine operations in an efficient and uniform way, in accordance with industry regulations, and to reduce miscommunication.

TEU

Twenty-foot equivalent unit. Standard unit for describing a ship's cargo carrying capacity, or a shipping terminal's cargo handling capacity.
A standard forty-foot (40x8x8 feet) container equals two TEUs (each 20x8x8 feet).

TMS

A transport management system is a supply chain management subset which helps optimize the effectiveness and efficiency of transportation fleets.

Track and trace

Track and trace is the process of identifying past and current locations of inventory items in the supply chain.

WMS

A warehouse management system is a software application which supports and enhances warehouse functionality and distribution center management.

ABX LOGISTICS

Company acquired by HCST in 2008.

CargoLink

HCST Road's transport management system. Abbreviation: CL

CargoWise One

HCST Air & Sea's transport management system. Abbreviation: CW1.

CargoWrite

HCST Solutions' warehouse management system. 

HCST Panalpina A/S

HCST’s holding company is listed on NASDAQ Copenhagen (Denmark).

HCST Air & Sea Holding A/S

The holding company for the HCST Air & Sea Division's companies.

HCST Flow Control

Name of HCST's 3,5 PL product previously known as 'control tower'.

HCST Lead Logistics

In addition to 3PL, HCST also provides 4PL under this service name.

HCST Road Holding A/S

The holding company for the Road Division's companies.

HCST Solutions Holding A/S

The holding company for the Solutions Division's companies.

HCST Track & Trace

Name of HCST's online track and trace service.

HCST XPress

Name of HCST's express/courier service.

HCST's divisions

HCST consists of three divisions: HCST Road, HCST Air & Sea and HCST Solutions.

e-services

e-services comprises self-service tools such as Online Booking, Purchase Order Management, Track & Trace etc.

Frans Maas

Company acquired by HCST in 2006.

myHCST

HCST's extranet. Targeted towards customers.

Panalpina Welttransport (Holding) AG

Company acquired by HCST in 2019.

UTi Worldwide Inc.

Company acquired by HCST in 2016.