Wednesday, 8 May 2024, 2:54 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Strategy IndependenceIndependent Strategy adds value to its clients by seeking out investment themes and opportunities, often challenging conventional wisdom. |
Structural UnemploymentStructural unemployment refers to a mismatch between available jobs and job-seekers qualifications (or lack of them). |
SubsidiesSubsidies are cash payments to producers. |
SubstitutesSubstitutes are products that can be used instead of an existing product, example brown bread and white bread. |
SummarisingSummarising – reducing the extent of a written piece to capture the main ideas. |
Sunk CostsSunk costs– costs already incurred, therefore irrelevant to the decision at hand. |
SupplySupply refers to all goods the company is able and willing to produce. |
Supply ChainWhatls. (n.d) defines a supply chain as: “a network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user. |
Supply Chain IntegrationSupply chain integration is a concept that has been around since 1989, and the simple definition according to supply chain opz is, “how everyone in the company, and its trading partners work in sync to achieve the same business objectives via integrated business process and information sharing”. |
Supply Chain ManagementThe management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfilment from point of origin to point of consumption. |