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What is a Certified Carbon Offset Credit?
A carbon offset is a reduction in Greenhouse Gas (GHG) emissions – or an increase in carbon storage (for example, through tree planting) – used to compensate for emissions that occur elsewhere. A carbon offset credit is a transferable instrument that has been certified by governments or independent certification authorities to represent a reduction in CO2 emissions of one metric tonne, or an equivalent amount of another GHG. The purchaser of an offset credit can retire it in order [...]
What is the bullwhip effect and what does it mean for supply chains?
The term “bullwhip effect,” first introduced by Jay Forrester and is also known as the Forrester effect, refers to a type of demand distortion caused by incorrect forecasting that leads to progressively larger fluctuations in materials orders going upstream in the supply chain from the retailer to the wholesaler, distributor and all the way to manufacturing. When a consumer places an order, the purchase is perceived as a demand increase, cracking the whip, and sending a signal that is [...]
FAQ: What is the Difference between an NVO and an NVOCC?
A Non-Vessel-Operating Common Carrier is a shipping industry term that refers to a type of Ocean Transportation Intermediary (OTI), is often abbreviated by the industry to NVOCC, and sometimes even shorter to NVO. These two abbreviations are interchangeable and describe the same entity. According to the Federal Maritime Commission (FMC) A Non-Vessel-Operating Common Carrier (NVOCC) is: a common carrier that holds itself out to the public to provide ocean transportation, issues its own house bill of lading or equivalent document, and [...]
FAQ: What are Non-Operating Reefer (NOR) Containers?
A Non-Operating Reefer (NOR) container is a refrigerated shipping container with the refrigeration unit turned off. Instead of carrying temperature-sensitive goods, NORs can be stocked with cargo that would normally be placed into a general-purpose container. When a Live Reefer container is delivering cargo to a destination, there is often not enough demand for returning refrigerated cargo to move the equipment back to origin or position into another trade lane. Non-Operating Reefer vs. General 40' Container To [...]
FAQ: What is CARM?
The Canada Border Services Agency (CBSA) Assessment and Revenue Management project, or CARM, is a business transformation effort which is being implemented over 2021 & 2022. Its aim is to ease trade compliance and improve the use of data analytics to optimize business processes between the Canada Border Services Agency (CBSA) and its clients. Once it is entirely integrated, this initiative will streamline the overall importing process, grant importers self-service access to their information, provide a sophisticated [...]
FAQ: What is the Difference Between a Negotiable Bill of Lading and a Nonnegotiable Bill of Lading?
First, let us discuss the term, Bill of Lading (BL). This is a document that establishes the terms of a contract between a shipper and a transportation company. It can serve as a document of title, a contract of carriage, and a receipt for goods. Different types of BL exist and are used in varying situations. NEGOTIABLE BILL OF LADING A Negotiable Bill of Lading is considered a document of title that can be used to transfer ownership of [...]
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