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Supply Chain
| Term | Definition |
|---|---|
| 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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