M

Mafi Trailer
German brand name of a roll trailer used for RoRo purposes.

Maiden Trip
First voyage of a vessel or aircraft after delivery from new-building to her owner(s).

Maintenance Chain
A sequence of events in a goods flow which preserves and/or restores the value of a specific good. This may include: Repair.

Main-line Operator
Abbreviation: MLO
A carrier employing vessel(s) in the main or principal routes in a trade but not participating within a consortium.

Manifest
Document which lists the specifications of goods loaded in a means of transport or equipment for transportation purposes.
As a rule cargo manifests are drawn up by the agents in the place of loading.
Note: For shipping a manifest represents a cumulation of Bills of Lading for official and administrative purposes.

Manufacturers Plate
A plate indicating the name and address of the container manufacturer and particulars of the container.

Manufacturing Process
The producing of goods or wares by manual labour or machinery, often on a large scale and with division of labour.

Manufacturing Resource Planning
Abbreviation: MRP-II
A method for the effective planning of a manufacturing company, being a direct out-growth and extension of MRP-I.

Marine Insurance Policy
An insurance policy protecting the insured against loss or damage to his goods occurred during ocean transport.

Market Analysis
Systematic investigation of the growth and the composition of a market.

Market maker
In a stock exchange, market makers take ownership of shares, allowing people to buy and sell those goods from them. They also can make or lose money from price movements. Outside the financial community, market makers help match buyers and sellers, regardless of whether or not they take possession or own goods. (See Net market maker.)

Marketing
The process of organizing and directing all the company activities which relate to determining the market demand and converting the customers buying power into an effective demand for a service and bringing that service to the customer.

Marks
See Shipping Marks.

Mate's Receipt
A document signed by the chief officer of a vessel acknowledging the receipt of a certain consignment on board of that vessel. On this document, remarks can be made as to the order and condition of the consignment.

Master Production Schedule
Abbreviation: MPS
A realistic, detailed, manufacturing plan for which all possible demands upon the manufacturing facilities (such as available personnel, working hours, (management) policy and goals) have been considered and are visualized. The MPS is a statement of what the company expects to produce and purchase expressed in selected items, specific quantities and dates.

Material Requirements Planning
Abbreviation: MRP-I
An inventory and purchasing planning system that integrates product components, lead times and deadlines.

Materials Handling
The activities of loading, unloading, placing and manipulating material and of in-process movement.

Materials Management
The planning and control of the activities related to the materials flow from the suppliers up to the end of the conversion/production process.

MCO
See Miscellaneous Charge Order.

Means of Transport
Type of vehicle used for the transport of goods (e.g. aircraft, barge, truck, vessel or train).

Measurement Ton
A ton of one cubic meter water.

Mechanics Lien
The legal enforceable claim which a person who has performed work or provided materials is permitted to make against title to the property or as a preferential person in the event the estate or business is liquidated.

Medical First Aid Guide
Abbreviation: MFAG
Instructions to be consulted in case of accidents involving dangerous goods.

Memo Bill
See Service Bill of Lading.

Merchant
For cargo carried under the terms and conditions of the Carrier's Bill of Lading and of a tariff, it means any trader or persons (e.g. Shipper, Consignee) and including anyone acting on their behalf, owning or entitled to possession of the goods.

Merchant Haulage
Inland transport of cargo in shipping containers arranged by the Merchant.
It includes empty container-moves to and from hand-over points in respect of containers released by the Carrier to Merchants.
Note: Carrier's responsibility under the Bill of Lading does not include the inland transport stretch under Merchant Haulage.

Merchant Inspired Carrier Haulage
Carrier haulage by a carrier, which is nominated by the shipper or receiver of the goods, but paid by the carrier.

Meta-centric Height
The distance between the centre of gravity of a vessel and a fictitious point. If the metra-centric height is zero or negative, the vessel will heel or capsize.

Metamediary
Besides providing a multi-vendor, multi-product marketplace, the metamediary provides additional services for market participants. These services can be offered directly by the metamediary, or the metamediary can invite third party service providers into its marketplace. Services provided could include quality assurance, procurement management, fulfillment, or payment settlement.

MFAG
See Medical First Aid Guide.

Minimum Charge
The lowest amount which applies to the transport of a consignment, irrespective of weight or volume (aircargo, shipping).

Minimum Inventory
The planned minimum allowable inventory for an independent demand item.

Minor Unit
Unit of recorded value (i.e. as recorded by banks) which is a division of the respective unit of currency.
Examples are the cent being a one hundredth part of the US Dollar.
Note: Some countries have minor units that are used in low-value coinage within a country or locality, but which are not used by the international banking system in making formal records of value. Examples: Belgium, Greece and Spain.

Miscellaneous Charge Order
Abbreviation: MCO
A document issued by a carrier or his agent requesting the issue of an appropriate passenger ticket and baggage cheque or revision of services to the person named in such document.

Mixed Consignment
A consignment of different commodities, articles or goods, packed or tied together or contained in separate packages (aircargo).

Mode of Transport
Method of transport used for the conveyance of goods, (e.g. by rail, by road, by sea).

Model
A representation of a process or system that attempts to relate the most important variables in the system in such a way that analysis of the model leads to insights into the system.

Module
A separate and distinct unit of hardware or software that may be used as a component in a system.

Movement
The act or process of changing the position of an object and or people.

Movement Inventory
The inventory during a production process caused by the time required to move goods from one place to another.

MPC
See Multi Purpose Carrier.

MPS
See Master Production Schedule.

MRP-I
See Material Requirements Planning.

MRP-II
See Manufacturing Resource Planning.

MRO (Maintenance, repair, and operating equipment)
Routine purchases such as office supplies, travel services, or computers needed to run a business but not central to the business's output. Ariba and CommerceOne sell buy-side procurement software for MRO. (See horizontal market.)

MTO/Carrier
See Multimodal Transport Operator/Carrier.

Multiple Sourcing
Selecting of and working with more than two equivalent suppliers for a certain product.

Multi Purpose Carrier
See Multi Purpose Vessel.

Multi Purpose Vessel
Vessel designed for the carriage of different types of cargo: general, bulk, heavy and/or containerized cargo.
Synonym: Multi Purpose Carrier (MPC).

Multimodal Transport
The carriage of goods (containers) by at least two different modes of transport.

Multimodal Transport Document
See Combined Transport Document.

Multimodal Transport Operator/Carrier
Abbreviation: MTO/Carrier
The person on whose behalf the transport document or any document evidencing a contract of multimodal carriage of goods is issued and who is responsible for the carriage of goods pursuant to the contract of carriage.

N

Navigation
The act of determining position, location and course to the destination of an aircraft or a vessel.

Negligence
Imprudent action or omission which may cause injury, damage or loss.

Negotiable
In terms of documents, 'negotiable' means that e.g. a Bill of Lading is handed over/transferred in the right manner (viz. proper endorsement) to another person either endorsed in blank or endorsed to a person and that person acquires, by this transfer certain rights vis-a-vis the goods e.g. is entitled to take possession of the goods.

Net Manifest
A manifest containing all freight details including negotiated disbursements.

Net Market
An online intermediary that connects fragmented buyers and sellers. Net markets eliminate inefficiencies by aggregating offerings from many sellers or by matching buyers and sellers in an exchange or auction. For buyers, they lower purchasing costs while reaching new suppliers. For suppliers, they lower sales cost and reach new customers. A central hub where a trusted intermediary integrates both procedures and technology can save costs. Synonyms: infomediary, metamediary, electronic markets, e-markets, Internet markets, I-markets, vertical hubs, e-hubs, butterfly markets, vortex businesses, digital exchanges, online exchanges, fat butterfly.

Net market maker
A company creating an Internet market to match buyers and sellers. Doesn't necessarily own goods. (See market maker.)

Net Tonnage
The measure of the useful capacity of a vessel determined in accordance with the provisions of the international convention on tonnage measurement of vessels.

Net Weight
The weight of the goods, excluding all packing.

Network effect
Describes how all buyers and sellers benefit when a new market participant is added. The network effect produces a cycle with more buyers attracting more sellers and more sellers attracting more buyers. Robert Metcalfe created the notion that the value of a network grows by the square of the number of participants. Synonym: Metcalfe's Law. (See liquidity, critical mass.)

Network Planning System
A technique for making a time schedule for the implementation of a project.

Non Vessel Operating Common Carrier
Abbreviation: NVOCC
A party who undertakes to carry goods and issues in his own name a Bill of Lading for such carriage, without having the availability of any own means of transport.

Normal Charge
The specified general cargo rate without any quantity discount (aircargo).
Normal General Cargo Rate
The under 45 kgs rate or, if no under 45 kgs rate exists, the under 100 kgs rate (aircargo).
Synonym: Normal Rate.

Normalize
To create a consistent set of terms and product descriptions, often using industry-specific translation software. Primarily used by catalog aggregators, normalization technology requires translating schema or structures in product databases. (See ontology.)

Notice of Readiness
Written document or telex issued by the master of a vessel to the charterers advising them the moment when a vessel is ready to load or discharge.
Document advising a consignee or his agent that cargo has arrived and is ready for delivery.

Notify Address
Address of the party other than the consignee to be advised of the arrival of the goods.

Notify Party
The party to be notified of arrival of goods.

Nouvelles Frontiéres
A 1986 ruling by the Court of Justice which ruled that air transport was not exempt from EC competition policy.

NVOCC
See Non Vessel Operating Common Carrier.