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Supply Chain

TermDefinition
Stock/Inventory the goods or merchandise kept on the pre
Supplier A supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals.
Distribution Channel The chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. A distribution channel can include wholesalers, retailers, distributors and even the internet.
Billing Process of generating an invoice to recover sales price from the customer.
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.
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.
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.
Demand It is a consumers desire for a product or service.
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.
Wholesalers Person or firm that buys large quantity of goods from various producers or vendors, warehouses them, and resells to retailers. Wholesalers who carry only non-competing goods or lines are called distributors.
Warehousing Performance of administrative and physical functions associated with storage of goods and materials. These functions include receipt, identification, inspection, verification, putting away, etc.
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 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.
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
Freight A charge paid for carriage or transportation of goods by air, land, or sea.
Created by: Kathlynn23