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Supply Chain

TermDefinition
Stock/Inventory the goods or merchandise kept on the premises of a shop or warehouse and available for sale or distribution.
Costing the proposed or estimated cost of producing or undertaking something.
Supplier anyone who provides goods or services to a company or individuals.
Manufacturer The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications. Manufacturing commonly employs a man-machine setup with division of labor in a large scale production.
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.
Retailer 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.
Billing Process of generating an invoice to recover sales price from the customer. Also called Invoicing.
Warehouse Facility designed for temporary storage.
Vendor a company selling its shares on a stock market for the first time.
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.
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.
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.
Sourcing the process of finding suppliers of goods or services.
Break-Bulk Consisting of several individual small and different sized items, loads, or units.
Distribution Channel 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.
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.
Created by: Mitch T
 

 



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