Thursday, 25 April 2024, 9:02 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
V
VAT VendorVAT Vendor – a business registered to collect VAT from customers on behalf of SARS and can claim VAT back if it was paid in buying inputs. |
VerbalCommunication through spoken words. |
W
Wages and SalariesWages and salaries are payments for the use of labour in the production process. |
WantsWants are nice-to-haves but are not necessary for survival, example holidays. |
Work-in-ProgressItems that are in different stages of completion throughout the plant, including all raw material that has been released from the store for preliminary transformation up to a completely processed product awaiting final inspection and acceptance as finished goods inventory. The value of semi-finished stock and components may also be included this category |