There is no standard meaning of cords, the meaning of cords is solely decided by the JROTC unit. The same is true for Drill teams, Color guards, and Honor guards, which usually just use different kinds or colors of cords to distinguish between positions with in the team.
According to Air Force JROTC Regulation, only one cord may be worn on the left side and no cords other than standard Infantry Style Box Braid cords may be worn in uniform.
A maximum of 2 cords can be worn when wearing your JROTC uniform. If you you have multiple cords you wear your most important one on your left shoulder and the second one on your right shoulder.