Normally this means the sending or transmitting of goods from one place to another. It also covers the handing over or delivery of an object to a person’s care.
In shipping terminology, the exporter or sender of goods is called a “consignor” and the person to whom the goods are sent is called a “consignee“. A bill of lading under which goods are shipped or sent generally contains the name of the “consignee”.
In chartering practice, “consignment” is related to the handing over of a ship into the care of an agent, and a Consignment Clause may specify the details.