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User:Jukeboksi/BBA studies/Logistics and SCM: Difference between revisions
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* '''[[w:Raw material|Raw material]] ( [[w:fi:Raaka-aine]] ) [[w:Resource extraction|extraction]]''' and [[w:supplier|supply]] -> '''Component [[w:manufacturer|manufacturer]]s''' -> '''[[w:Final product|Final product]]''' manufacturing -> [[w:distribution (business)]] -> [[w:consumer|consumer]] | * '''[[w:Raw material|Raw material]] ( [[w:fi:Raaka-aine]] ) [[w:Resource extraction|extraction]]''' and [[w:supplier|supply]] -> '''Component [[w:manufacturer|manufacturer]]s''' -> '''[[w:Final product|Final product]]''' manufacturing -> [[w:distribution (business)]] -> [[w:consumer|consumer]] | ||
* A '''[[w:lead time|lead time]]''' is the [[ | * A '''[[w:lead time|lead time]]''' is the [[wiktionary:latency|latency]] (delay) between the initiation and execution of a process. ( Wikipedia ) | ||
* '''[[w:Material flow|Material flow]]''' (MF) is the description of the transportation of raw materials, pre-fabricates, parts, components, integrated objects and finally products as a flow of entities. The term applies mainly to advanced modeling of [[w:Supply chain management|Supply chain management]]. As industrial material flow can easily become very complex [[w:Plant Simulation|Plant Simulation]] Software has been developed to simulate, visualize, analyze and optimize these processes. ( Wikipedia ) | * '''[[w:Material flow|Material flow]]''' (MF) is the description of the transportation of raw materials, pre-fabricates, parts, components, integrated objects and finally products as a flow of entities. The term applies mainly to advanced modeling of [[w:Supply chain management|Supply chain management]]. As industrial material flow can easily become very complex [[w:Plant Simulation|Plant Simulation]] Software has been developed to simulate, visualize, analyze and optimize these processes. ( Wikipedia ) | ||
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* A '''[[w:purchase order|purchase order]]''' ('''PO''') is a [[w:Trade|commercial]] document and first official offer issued by a [[w:buyer|buyer]] to a [[w:vendor (supply chain)|seller]], indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Acceptance of a purchase order by a seller usually forms a [[w:contract|contract]] between the buyer and seller, so no contract exists until the purchase order is accepted. ( Wikipedia ) | * A '''[[w:purchase order|purchase order]]''' ('''PO''') is a [[w:Trade|commercial]] document and first official offer issued by a [[w:buyer|buyer]] to a [[w:vendor (supply chain)|seller]], indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Acceptance of a purchase order by a seller usually forms a [[w:contract|contract]] between the buyer and seller, so no contract exists until the purchase order is accepted. ( Wikipedia ) | ||
::: As always, '''[[w:offer and acceptance]]''' are required to '''form a contract''' ( Refresh from [[Business Negotiations and Contracts]] ) | ::: As always, '''[[w:offer and acceptance]]''' are required to '''form a contract''' ( Refresh from [[User:Jukeboksi/BBA studies/Law#Business Negotiations and Contracts]] ) | ||
* '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | * '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | ||
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== Learn further == | == Learn further == | ||
* [[Entering Target Markets]] | * [[User:Jukeboksi/BBA_studies/Entering Target Markets]] | ||