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