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Supply Chain

TermDefinition
Inventory / Stock the goods or merchandise kept on the premises of a shop or warehouse and available for sale or distribution
Demand An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service
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 The existence of high start-up costs or other obstacles that prevent new competitors from easily entering an industry or area of business
Supplier A party that supplies goods or services
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
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
Retailers A business or person that sells goods to the consumer
Billing Process of generating an invoice to recover sales price from the customer
Warehousing the action or process of storing goods in a warehouse
Vendor The party in the supply chain that makes goods and services available to companies or consumers
Logistics Logistics is the management of the flow of goods between the point of origin and the point of consumption in order to meet some requirements, of customers or corporations
Negotiation discussion aimed at reaching an agreement
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 chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer
Raw materials the basic material from which a product is made
Freight goods transported in bulk by truck, train, ship, or aircraft
Created by: hollylolly
 

 



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