A comprehensive guide to materials management, covering the administration of ordering, storage, and movement of materials in production operation centers.
Detailed explanation of the term 'On Order,' referring to goods that have been ordered but are not yet paid for or received.
Overrun refers to production beyond the established limits, often due to estimating errors, reductions in order sizes, or attempts to utilize excess materials.
The term 'Pier to House' refers to the logistics process of transporting cargo from a storage facility at a port to the consignee's specified destination, detailing various aspects such as considerations, applicability, and historical context.
A comprehensive exploration of 'Pipeline,' encompassing its meanings as a supply line, an informational channel, a conduit for materials, and work in progress, with examples, historical context, and related terms.
Procurement involves the acquisition of goods including materials, parts, supplies, and equipment essential for business operations. It constitutes a significant part of business expenses.
A Purchase Order is a legally binding document issued by a buyer to a seller, authorizing the purchase of specific goods or services at an agreed-upon price.
Rack jobbers are merchant wholesalers owning merchandise and providing rack displays at retail locations, working cooperatively with retailers and sharing profits.
A comprehensive guide to understanding the job role, duties, and significance of a Receiving Clerk within a firm's receiving department.
RECONSIGN refers to the process of changing the destination or consignee of freight while it is currently in transit, ensuring flexibility and adaptability in the logistics and supply chain operations.
An in-depth exploration of the Reorder Point, its calculation, importance, and applications in inventory management.
Reserve-stock control is a technique that designates appropriate inventory levels for the maintenance of business operations until new merchandise can be supplied, taking into account the time needed to physically replenish inventory.
Comprehensive guide to the term 'Returns' including its definitions in direct marketing and supply chain context, types, examples, and implications.
An in-depth exploration of selective distribution, a strategy where manufacturers distribute products only to specific wholesalers or retailers who meet predefined criteria.
An in-depth overview of Stock Keeping Units (SKUs), their significance in inventory management, usage in various industries, and best practices for efficient SKU management.
Standing orders facilitate the repeated shipment of goods without the need for specific reorders, adhering to predetermined quantity and time limitations.
An in-depth exploration of Stockout Cost, which refers to the expenses a firm faces when current inventory is exhausted, including lost sales revenue and customer dissatisfaction.
A comprehensive guide to understanding what a stockroom is, including its types, organization, management, and relevance in various industries.
Comprehensive coverage of Supply Chain Management (SCM), tracking components, optimizing production, minimizing inventory, and reducing costs.
A comprehensive guide to threshold-point ordering, a technique in inventory management to meet anticipated user demand by reordering at a predetermined inventory level.
Understanding how making a product available at a convenient time increases its market value and customer satisfaction.
A comprehensive guide to understanding Truckload (TL), a term used in logistics and transportation to denote the quantity of cargo that fills a truck. It covers definition, types, considerations, historical context, examples, applications, and related terms.
Vertical conflict occurs between different hierarchical members within a channel of distribution, influencing the overall performance and relationships within a supply chain.
Understanding vertical integration, its types, historical context, applicability, and its significance within the realms of business management and economics.
A comprehensive guide on understanding visibility in supply chain management, covering its significance, impact, and how it aids managers in making informed decisions.
A detailed guide on warehouses, their types, functions, historical context, and importance in logistics and supply chain management.
A comprehensive guide to understanding the role of wholesalers in supply chains, their functions, types, historical context, and relevance in today's market.
Learn about the concept of backorders, their causes, real-world examples, and how they differ from out-of-stock situations, complete with detailed explanations and context.
An in-depth exploration of backward integration, a type of vertical integration that includes the purchase of, or merger with, suppliers, its benefits, considerations, historical examples, and strategic importance.
An in-depth exploration of Bill of Materials (BOM), its meaning, purpose, various types, and applications in manufacturing, construction, and service industries.
A detailed exploration of derived demand in economics, including its definition, calculations, and practical applications in various markets.
Comprehensive overview of distribution management, covering its definition, core processes, and advantages, highlighting its importance in efficient supply chain and logistics.
Comprehensive overview of distribution networks, their functioning, and real-world examples.
An in-depth look at forward integration, its strategies, types, benefits, challenges, and real-world examples in business.
An in-depth exploration of geographical pricing, including its definition, strategic implementation, variations, and practical examples.
Discover the Institute for Supply Management (ISM), the oldest and largest non-profit organization for supply management professionals. Learn about its history, mission, functions, and its impact on the supply chain industry.
Explore the comprehensive definition of intermediate goods and their role in the production process with examples. Learn how intermediate goods contribute to the economy and the distinction between intermediate and final goods.
Discover the fundamentals of inventory management, including various methods and techniques, their respective advantages and disadvantages, and their application in different business settings.
Comprehensive guide to understanding inventory, including its definition, types, examples, and effective management techniques.
A comprehensive exploration of the economic concept of joint supply, including definitions, real-world examples, and a comparison with joint demand.
An in-depth exploration of the Just in Case (JIC) inventory strategy, including its definition, how it operates, real-world examples, and its implications in supply chain management.
A comprehensive guide to understanding the Just-in-Time (JIT) inventory system, including its definition, practical examples, and a balanced discussion of its advantages and disadvantages.
The last mile refers to the final segment in the delivery of communication, media services, and goods, playing a crucial role in reaching customers in dense areas.
Explore the detailed definition of lead time, understand how it operates within various processes, and review practical examples to grasp its importance in industries such as manufacturing and supply chain management.
A comprehensive guide to understanding logistics, the processes involved, and how businesses utilize logistics for efficient resource management.
An in-depth look at the Make To Stock (MTS) production strategy, including its definition, how it works, real-world examples, and benefits for businesses.
Understand the complexities of make-or-buy decisions in business, exploring when to manufacture in-house or outsource to external vendors. Learn the criteria, examples, and strategic considerations involved.
Explore the comprehensive details of Material Requirements Planning (MRP), including its functionality, benefits, and drawbacks. Learn how MRP systems help businesses manage inventory and supply chains efficiently.
Explore the concept of obsolete inventory, its implications, and strategies for management. Learn how to identify and handle outdated stock to improve business efficiency.
Discover the comprehensive explanation of Original Equipment Manufacturer (OEM), its roles, examples, historical context, and its critical applications in various industries.
Outsourcing is a strategic practice used by companies to streamline operations and reduce costs by transferring specific tasks to external suppliers. Learn how outsourcing works, its applications in business, and real-world examples.
An exhaustive guide to understanding procurement, covering its definition, types, processes, and applications in business and government sectors.
A comprehensive overview of the Request for Quote (RFQ) process, detailing its definition, the steps involved, and how businesses utilize RFQs to procure goods and services effectively.
Learn about the role of a middleman in business and financial transactions, including their functions, importance, and real-world examples.
A comprehensive overview of Supply Chain Management (SCM), exploring its processes, significance, and best practices within various industries.
An in-depth exploration of the supply chain, encompassing the journey from raw materials to final order fulfillment, including key processes and actors involved.
A comprehensive guide to holding costs in inventory management, explaining their definition, how they work, and providing a practical example.
A thorough exploration of Value-Added Tax (VAT), detailing its mechanism, types, historical context, applicability, comparisons with other tax systems, and implications for businesses and consumers.
Explore the comprehensive definition of a vendor, different types of vendors, and a practical example. Gain insights into the crucial role vendors play in the supply chain.
A comprehensive guide on vertical mergers, explaining their definition, how they work, their primary objectives, and practical examples. Learn about the strategic advantages and implications in the supply chain integration context.
A comprehensive guide on warehouse bonds, explaining their definition, how they function, their importance, and the protection they offer against losses when warehouse facilities fail to meet contractual obligations.
An in-depth exploration of wholesaling, its functions, operational mechanisms, and pivotal role in the supply chain. Learn about wholesaling, its processes, types, and significance in the modern economy.
