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Supply Chain
Business External
| Term | Definition |
|---|---|
| Inventory/stock | a complete listing of merchandise or stock on hand, work in progress, raw materials, finished goods on hand, etc., made each year by a business concern. |
| Demand | Consumers desire for a product 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 | Economic, procedural, regulatory, or technological factors that obstruct or restrict entry of new firms into an industry or market. |
| 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. |
| 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. |
| 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. |
| Distributors/Wholesalers | Person or firm that buys large quantity of goods from various producers or vendors, warehouses them, and resells to retailers. Wholesalers who carry only non-competing goods or lines are called distributors. |
| 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. |
| Warehosing | 1. General: Performance of administrative and physical functions associated with storage of goods and materials. These functions include receipt, identification, inspection, verification, putting away, retrieval for issue, etc. |
| Vendor | 1. a person who sells something, especially a property Example: the solicitor acting on behalf of the vendor 2. 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. It may be defined as the 'management of inventory in motion and |
| 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 |
| Breakbulk | Consisting of several individual small and different sized items, loads, or units. |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
| 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. A distribution channel can be as short as a direct transaction from the vendor to the consumer, or may |
| 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:
kendrick.chan
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