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Supply Chain

TermDefinition
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 deliverable.
Billing Process of generating an invoice to recover sales price from the customer. Also called Invoicing. See also billings.
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 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.
Manufactors 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 See also outsourcing.
Demand Desire for certain good or service supported by the capacity to purchase it.
Transportation The process of shipping or moving an item from point A to point B.
Distribution/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, 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.
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.
Freight A charge paid for carriage or transportation of goods by air, land, or sea.
Vendor A person who sells something.
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.
Barriers to entry Economic, procedural, regulatory, or technological factors that obstruct or restrict entry of new firms into an industry or market.
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.
Created by: scarlett27
 

 



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