Wednesday, 8 May 2024, 9:54 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Decision-makingThe process or action of making a decision, it involves identifying alternatives and then choosing the course of action. |
DemandDemand refers to all goods the consumer is able and willing to pay for. |
Demand CurveDemand curve is a graphical representation of a consumer showing the relationship between price and quantity of a given item. |
Demand Curve for the Product of the FirmDemand curve for the product of the firm illustrates the quantity of products the firm will be able to sell at each market price. |
Demand ManagementDemand management refers to fiscal or monetary policy aimed at increasing or decreasing demand. |
Demand ScheduleDemand schedule is a table representation of a consumer showing the relationship between price and quantity of a given item. |
Demand-Pull InflationDemand-pull inflation where demand increases and pulls prices up. |
Denotationthe literal meaning of a
word or name. Although Paris might make you think of romance, its denotation is simply the city of an old
tribe called the Parisii |
Dependant clausesDependant clauses – sections of a sentence which rely on each other to generate meaning. |
DepreciationDepreciation is where the value of a currency decreases compared to another currency without interference. |
Design to Order (DTO)Individual parts are designed and assembled specifically for each customer order. Even if the end product contains standard parts, a separate pro-duction process with a specific parts list is required for the product. |
Determinants of Price ElasticityDeterminants of price elasticity refers to those factors that affect the consumer’s decision to but more, less or the same with a change in price and, therefore, determines the price elasticity of demand. |
Dimensions of Customer ServiceService quality in the SERVQUAL model consists of five dimensions: reliability, responsiveness, assurance, empathy, and tangibles. These dimensions are used in service quality gap, which implies that there is a difference between the expectations of customers and perception of services |
Direct InvestmentDirect investment includes all transactions where the investor gains control of a business, either through establishing a new business or by buying shares in an existing business. |
Direct LabourDirect labour – is the effort of personal creating a product. |
Direct MaterialDirect material – primary/raw material to be converted into a finished product through a manufacturing process. |
Direct RelationshipDirect (positive) relationship shows two variables which are causally linked increasing or decreasing simultaneously. |
Direct TaxesDirect taxes are taxes levied on individuals or companies. |
DisequilibriumDisequilibrium refers to all prices and related quantities above and below equilibrium. |
Distribution EffectsDistribution effects refer to the redistribution of income between sectors of the economy as a result of inflation. |
Distribution of IncomeDistribution of income refers to how the country’s wealth is distributed among the population. |
DividendsDividends – a share of profits received by shareholders |
Division of LabourDivision of labour is when workers are divided into tasks as part of a continual production process according to their skills, example a labourer who works on a production line. |
Double Entry ConcepDouble entry concept- in every transaction, there is a DEBIT and a corresponding CREDIT entry. DEBIT-the receiver and CREDIT- the giver. |
Draftthe first, rough
attempt at writing something |
Durable GoodsDurable goods are goods that can be used repeatedly, example furniture. |