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External Factors
| Term | Definition |
|---|---|
| Demand | The amount of any given commodity that people are ready and able to buy at a given time for a given price. |
| Inventory/Stock | Inventory is the collection of unsold products waiting to be sold. Inventory is listed as a current asset on a company's balance sheet. |
| 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. |
| 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. |
| 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. |
| Transportation | The process of shipping or moving an item from point A to point B. |
| Distributors/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. |
| 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. See also billings. |
| Warehousing | General: 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. |
| 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. |
| Sourcing | the process of finding suppliers of goods or services |
| 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. |
| Vendor | A vendor is a company or person that sells goods or services. Not only do they sell goods and services, they also buy goods and services from other vendors. |
| Break-Bulk | Consisting of several individual small and different sized items, loads, or units. |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
| 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. |
| 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. |
| 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. |
Created by:
sally_T
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