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Logistic Glossary – Letter N


North American Free Trade Agreement (NAFTA)


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

Negotiable BOL

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.


A set of discussions between two or more enterprises to determine the business relationship.

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

Net Weight

The weight of the merchandise, unpacked, exclusive of any containers.

New Product Introduction (NPI)

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


National Industrial Transportation League (NITL)


National Motor Freight Classification (NMFC)

No Location (No Loc)

A received item for which the warehouse has no previously established storage slot.


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

Non Vessel Operating Common Carrier (NVOCC)

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.

Non-Certificated carrier

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


Failure to fulfill a specified requirement.

Non-Negotiable BOL

Provides for the delivery of goods to a named enterprise and to no one else. Also known as a straight bill of lading.


See Not Otherwise Specified / Not Elsewhere Specified (NOS/NES).


Oxides of Nitrogen


See New Product Introduction (NPI).


See Non-Vessel Operating Common Carrier.


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