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Supply Chain
| Term | Definition |
|---|---|
| Inventory/Stock | The raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale. |
| Supplier | Anyone who provides goods or services to a company or individuals. |
| Vendor | Often manufactures inventoriable items, and sells those items to a customer. |
| Biling | The process of preparing or sending invoices. |
| Logistics | The management of inventory in motion and at rest. |
| Demand | The consumers desire for a product or service |
| 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. |
| Sourcing | The process of finding suppliers of goods or services. |
| Transportation | Any device used to move an item from one location to another. Common forms of transportation include planes, trains, automobiles, and other two-wheel devices such as bikes or motorcycles. |
| 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. |
| Distributors/Wholesalers | An entity that buys noncompeting products or product lines, warehouses them, and resells them to retailers or direct to the end users or customers. |
| Barriers to Entry | Economic, procedural, regulatory, or technological factors that obstruct or restrict entry of new firms into an industry or market. |
| Retailers | A business or person that sells goods to the consumer. |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
| Warehousing | Performance of administrative and physical functions associated with storage of goods and materials. |
| 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. |
| Break Bulk | Consisting of several individual small and different sized items, loads, or units. |
| 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. |
| 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. |
Created by:
b.mason
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