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Supply Chain

TermDefinition
Inventory/stock Inventory: a complete list of items such as property, goods in stock, or the contents of a building. Stock:the goods or merchandise kept on the premises of a shop or warehouse and available for sale or distribution.
Supplier a supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals. A vendor often manufactures inventoriable items, and sells those items to a customer.
Billing The fact of being advertised or described in a particular way.
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.
Logistics It may be defined as the 'management of inventory in motion and at rest.'
Sourcing the process of finding suppliers of goods or services See also outsourcing
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.
Demand Desire for certain good or service supported by the capacity to purchase it.
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 Distributors: an agent who supplies goods to retailers. Wholesalers: Wholesaling involves selling merchandise to retailers
Warehousing The action or process of storing goods in a warehouse.
Negotiation Bargaining (give and take) 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.
Break-bulk Consisting of several individual small and different sized items, loads, or units.
Raw Material 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.
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.
Barriers to entry Economic, procedural, regulatory, or technological factors that obstruct or restrict entry of new firms into an industry or 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 person who sells something, especially a property
Freight A charge paid for carriage or transportation of goods by air, land, or sea.
Created by: Hardeep_kaur