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Definitions
| Term | Definition |
|---|---|
| Inventory/Stock | An itemized catalog or list of tangible goods or property, or the intangible attributes or qualities. |
| Supplier | A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor. |
| Billing | Process of generating an invoice to recover sales price from the customer. Also called Invoicing |
| Logistics | Planning, execution, and control of the procurement, movement, and stationing of personnel, material, and other resources to achieve the objectives of a campaign, plan, project, or strategy. |
| Distribution | The movement of goods and services from the source through a distribution channel, right up to the final customer, consumer, or user, and the movement of payment in the opposite direction, right up to the original producer or supplier. |
| Distribution Channel | The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. |
| Demand | A claim for a sum of money as due, necessary, or required. |
| Manufacturer | Entity that makes a good through a process involving raw materials, components, or assemblies, usually on a large scale with different operations divided among different workers. Commonly used interchangeably with producer. |
| Sourcing | the process of finding suppliers of goods or services. |
| Transportation | Any device used to move an item from one location to another. Common forms of transportation include planes, trains, automobiles, and other two-wheel devices such as bikes or motorcycles. |
| Distributors/Wholesalers | An entity that buys noncompeting products or product lines, warehouses them, and resells them to retailers or direct to the end users or customers. |
| warehousing | Performance of administrative and physical functions associated with storage of goods and materials. These functions include receipt, identification, inspection, verification, putting away, retrieval for issue, etc. |
| Negotiation | Bargaining process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an agreement to settle a matter of mutual concern or resolve a conflict. Noun form of the verb negotiate |
| Break-bulk | Consisting of several individual small and different sized items, loads, or units. |
| Costing | System of computing cost of production or of running a business, by allocating expenditure to various stages of production or to different operations of a firm. |
| Raw Materials | Basic substance in its natural, modified, or semi-processed state, used as an input to a production process for subsequent modification or transformation into a finished good. |
| Barriers to entry | In theories of competition in economics, barriers to entry, also known as barrier to entry, are obstacles that make it difficult to enter a given market. |
| Retailers | A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business. |
| Vendor | A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendors. |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
Created by:
anhtran26
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