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Friday, 26 April 2024, 4:54 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Accrued

Accrued – arrears, owing or outstanding

Acquisition

The takeover of one entity by another.


Activity Based Costing

Activity-based costing is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. Therefore this model assigns more indirect costs into direct costs compared to conventional costing.

Allocative Efficiency

Allocative efficiency exists when resources cannot be reallocated without making at least one person better off without making another worse off.

Appreciation

Appreciation is where the value of a currency increases compared to another currency without interference.

Approach and Sales Presentation Methods

The sales approach and presentation techniques are vital not only to the success of the sale, but to building long-term relationships with customers. The sales approach starts when the salesperson first comes into contact with the buyer, when the actual discussion about the product or service begins. The sales presentation is when the salesperson uses an actual presentation, which could be by speaking or by using visual demonstrations to highlight how the product or service will be of benefit to the customer. The goal of the sales presentation is to sell the product or service to the prospect.

Argument

Argument - a coherent line of reasoning.

Assemble to Order (ATO)

A production environment where a large number of end products (based on the selection of options and accessories) may be assembled from com-mon components. The key items used to produce the final product, up to the sub-assembly level, are planned and usually kept in inventory in anticipation of a customer order. 

Asset

Asset – a resource controlled by an entity, resulting from past event and from which future economic benefits are expected to flow to the entity.

Autarky

Autarky exists when a country closes its borders to international trade.