Saturday, 27 April 2024, 6:02 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
B

Bill of Material (BOM)

A listing of all the subassemblies, intermediates, parts, and raw materials that go into a parent assembly showing the quantity of each required to make an assembly. 


Black Market

Black market is an illegal market where consumers buy up goods at the price ceiling and resell the goods at a higher price.

Brainstorming

an organised process of a group offering their own ideas, usually aimed at solving a problem

Break-Even Point

Break-even point exists when average costs (AC) equals average revenue (AR).

Bridging Finance

finance provided for a short period (two to three weeks) that an organisation might use when they are waiting for approval of longer-term finance.

Budget Deficit

Budget deficit exists when government spending is greater than government receipts.

Business

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit.

Business Management

Business management definition is managing the coordination and organization of business activities. Management is in charge of planning, organizing, directing, and controlling the business's resources so they can meet the objectives of the policy.

C

Cabotage

The right to transport in a specific territory. More specifically, it refers to transportation between two terminals located in the same country, irrespective of the country in which the mode providing the service is registered. Cabotage is subject to restrictions and regulations. Under such circumstances, each nation reserves for its national carriers the right to move domestic freight or passenger traffic.

 


Capacity Planning

Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products. In the context of capacity planning, design capacity is the maximum amount of work that an organization is capable of completing in a given period.