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Supply Chain
| Term | Definition |
|---|---|
| Stock/Inventory | the goods or merchandise kept on the premises of a shop or warehouse and available for sale or distribution. |
| Costing | the proposed or estimated cost of producing or undertaking something. |
| Supplier | anyone who provides goods or services to a company or individuals. |
| Manufacturer | The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications. Manufacturing commonly employs a man-machine setup with division of labor in a large scale production. |
| 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. |
| 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. |
| Billing | Process of generating an invoice to recover sales price from the customer. Also called Invoicing. |
| Warehouse | Facility designed for temporary storage. |
| Vendor | a company selling its shares on a stock market for the first time. |
| 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. |
| 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. |
| 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 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. |
| 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. |
Created by:
Mitch T
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