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External Factors
Supply Chain
| Term | Definition |
|---|---|
| Inventory/Stock | a complete listing of merchandise or stock on hand, work in progress, raw materials, finished goods on hand |
| Supplier | a person, company, or organization that sells or supplies something such as goods or equipment to customers |
| Billing | an act or instance of preparing or sending out a bill or invoice.(the total amount of the cost of goods or services billed to a customer, usually covering purchases made or services rendered within a specified period of 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.'management of inventory in motion and at rest' |
| 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 network of organizations, including manufacturers, wholesalers, and retailers, that distributes goods or services to consumers. |
| Sourcing | the process of finding suppliers of 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. |
| Demand | Desire for certain good or service supported by the capacity to purchase it.(The aggregate quantity of a product or service estimated to be bought at a particular price.) |
| Transportation | Any device used to move an item from one location to another |
| 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. |
| Warehousing | Performance of administrative and physical functions associated with storage of goods and materials. |
| Negotiation | mutual discussion and arrangement of the terms of a transaction or agreement |
| 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. |
| 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 | are obstacles that make it difficult to enter a given market. |
| 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. |
| Vendor | a person who sells something |
| Freight | A charge paid for carriage or transportation of goods by air, land, or sea. |
Created by:
Jinal_06
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