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Supply Chain
| Term | Definition |
|---|---|
| Supplier | A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor. |
| Inventory/ Stock | Inventory includes a small business's finished products, as well as the raw materials used to make the products, the machinery used to produce the products and the building in which the products are made. In other words, anything that goes into producing |
| Billing | The process of sending an invoice to customers for goods or services |
| Transportation | transportation is the movement of people, animals and goods from one location to another. |
| 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. Commonly used interchangeably with producer. |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
| Negotiation | General: 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. |
| Warehouse | Facility designed for temporary storage. |
| Vendor | a person who sells something, especially a property |
| 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. |
| Demand | Desire for certain good or service supported by the capacity to purchase it. |
| Distributor | An entity that buys noncompeting products or product lines, warehouses them, and resells them to retailers or direct to the end users or customers. Most distributors provide strong manpower and cash support to the supplier or manufacturer's promotional ef |
| Barriers to entry | Economic, procedural, regulatory, or technological factors that obstruct or restrict entry of new firms into an industry or market. |
| 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. |
| Distribution | 1. Commerce: 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. |
| BreakBulk | Consisting of several individual small and different sized items, loads, or units. |
| Sourcing | the process of finding suppliers of goods or services See also outsourcing. |
| 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. |
| 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. |
Created by:
jaskaransingh98
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