National carrier
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.

National Industrial Traffic League
An association representing the interests of shippers and receivers in matters of transportation policy and regulation.

National Motor Bus Operators Organization
An industry association representing common and charter bus firms, now known as the American Bus Association.

National Motor Freight Classification
A tariff, which contains descriptions and classifications of commodities and rules for domestic movement by motor carriers in the U.S.

National Railroad Corporation
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.

National Stock Number
The individual identification number assigned to an item to permit inventory management in the federal supply system.

Nationalization
Public ownership, financing, and operation of a business entity.

NCV
see No Customs Value

Negotiable Bill of Lading
‘Something that can be negotiated, transferred or assigned from one person to another in return for equivalent value by being delivered either with endorsement (as of an instrument to order) or without endorsement (as of an instrument to bearer) so that the title passes to the transferee who is not prejudiced in his rights by any defect or flaw in the title of prior parties nor by personal defenses available to prior parties among themselves provided in both cases that the transferee is a bona fide holder without notice e.g. bills of lading, bills of exchange, promissory notes, and cheques that are payable to bearer or order are negotiable instruments, as are also, in some jurisdictions, some other instruments (as bonds, some forms of stock) i.e. negotiable paper/negotiable securities. ”Negotiable” used analogously for ”transferable” - see also negotiability/transferability.’

Negotiated Sale
An offer without a fixed price. The owner withholds the right to accept or reject offers.

Negotiating Bank
Bank where a shipper negotiates documents or where documents are first presented, usually at country of origin. Also, often referred to as the advising bank.

Nested
Three or more different sizes of the same item or commodity which must be enclosed, each smaller piece within the next larger piece, or three or more of the items must be placed one within the other so that the top item does not project above the lower item by more than 1/3 of its height. Nested Solid: Three or more of items must be placed on or inside the other, so that the external side surfaces of the top item is in contact with the internal side surfaces of the item below, and the top item does not project above the next lower item by more than 1/2 inch.

Net Asset Turns
The number of times you replenish your net assets in your annual sales cycle. A measure of how quickly assets are used to generate sales. Calculation: Total Product Revenue / Total Net Assets

Net Assets
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 of long-term liabilities and current liabilities (includes A/P, accrued expenses, deferred liabilities).

Net Change MRP
An approach in which the material requirements plan is continually retained in the computer. Whenever a change is needed in requirements, open order inventory status, or bill of material, a partial explosion and netting is made for only those parts affected by the change. Antonym: Regeneration MRP.

Net Price
The remainder of the amount after any discounts have been subtracted.

Net Requirements
In MRP, the net requirements for a part or an assembly are derived as a result of applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock. Net requirements, lot-sized and offset for lead time, become planned orders.

Net Weight
The total weight of a shipment less the weight of pallets, containers or straps.

Neutral Body
Investigating body designated by conference carriers to ensure that all regulations and rules are adhered to.

New Product Introduction
The process used to develop products that are new to the sales portfolio of a company.

NMFC
see National Motor Freight Classification

No Bid
A bid reply indicating that the vendor chooses not to bid.

No Customs Value
Indicates cargo or goods have no value per a customer’s assessment.

No Location (No Loc)
An item that has been received for which the warehouse has no previously established storage slot.

Node
A fixed point in a firm’s logistics system where goods come to rest, includes plants, warehouses, supply sources, and markets.

NOE
Not Otherwise Enumerated

Non Vessel Operating Common Carrier
A firm who issues bills of lading for carriage of goods on vessels that are not owned or operated by them. NVOCCs usually act as consolidators, accepting less-than-containerload shipments and consolidating them into full container loads .

Non-Asset-Based Third Party Providers
Third party providers who generally do not own assets, such as transportation and/or warehouse equipment.

Noncertified carrier
A for-hire air carrier that is exempt from economic regulation.

Nonconformity
Failure to fulfill a specified requirement. See: blemish, defect, imperfection.

Non-Durable goods
Goods whose serviceability is generally limited to a period of less than three years (such as perishable goods and semidurable goods).

Non-expendable Inventory
Any tangible items with a shelf-life or usefulness beyond one year and costing over a certain dollar amount.

Non-Negotiable Bill of Lading
‘A document not made out ”to order”, but being a receipt and evidence of the contract of carriage, but which is not a document of title, e.g. a waybill and, in some jurisdictions (such as the USA), a (straight) consigned bill of lading.’

Non-Recyclable
A substance which cannot be introduced as usable for remanufacturable material.

Non-responsive Bid (also, unresponsive)
A bid or offer that does not comply with the requirements as stated.

NOPAT
Net operating profit after tax.

NOS
Not Otherwise Stated.

Notify Party
Company/person who appears on the bill of lading or waybill to be notified when the cargo arrives at destination. Could be different from the consignee, but is often the actual receiver of the goods. A notify party has no particular rights (beyond the notification) under the bill of lading or waybill.

NPI
see New Product Introduction

NSN
see National Stock Number

NVOCC
see Non Vessel Operating Common Carrier