Glossary of Shipping Terms:
" B " (page-5)
Bunker
(Tank) spaces on board a vessel to store fuel.
Bunker Adjustment Factor (BAF)
Adjustment applied by P&O Nedlloyd or liner conferences to offset the effect of fluctuations in the cost of bunkers.
Bunkers
Quantity of fuel on board a vessel.
Buoyancy
The upward force extended by the vertical component of integrated pressure acting on the hull below the waterline; usually calculated as being equal to the weight of the water displaced by the hull.
Bureau Veritas
French classification society.
Business Analyses
The process of investigating and evaluating an organisation to clarify processes and procedures.
Business Data Repository (BDR)
The accumulation of business data taken from a system to reuse this data in other systems.
Business Function
An upper level business activity that is achieved via the performance of component activities. Examples: Manufacturing, Shipping.
Business Logistics
- Logistics within a business system.
- The co-ordinating function of material management and physical distribution, which executes the integral control of the goods flow.
Business Process
A business process is the action taken to respond to particular events, convert inputs into outputs, and produce particular results. Business processes are what the enterprise must do to conduct its business successfully.
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Business Process Model
The business process model provides a breakdown (process decomposition) of all levels of business processes within the scope of a business area. It also shows process dynamics, lower-level process interrelationships. In Summary it includes all diagrams related to a process definition that allows for understanding what the business process is doing (and not how).
Business Process Redesign (BPR)
The process of redesigning business practice models including the exchange of data and services amongst the stakeholders (i.e. finance, merchandising, production, distribution) involved in the lifecycle of a client's product.
Business Rule
A Business Rule is a business condition under which data items are created, related and maintained.
Buyer
Party to which merchandise is sold.
Buyer's Market
A "buyer's market" is considered to exist when goods can easily be secured and when the economic forces of business tend to cause goods to be priced at the purchaser's estimate of value. In other words, a state of trade favourable to the buyer, with relatively large supply and low prices.
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