Monday, 6 May 2024, 1:49 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Follow Up

The salesperson’s work is certainly not over after the order has been placed. Selling is about building long-term relationship and ensuring that continual sales are ensured. Following up is thus crucial to this relationship. To follow up with a customer you need to follow steps for example checking the order and thanking the customer.

Forecast Accuracy

Forecast accuracy is the extent of difference between the forecasted values and the actual values. 

Forecasting

Forecasting is the process of making predictions based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term.

Foreign Exchange Market

Foreign exchange market exists everywhere and anywhere where currencies are traded.

Foreign Sector

Foreign sector refers to all countries, businesses and people outside the national border.

Free Cash Flow

Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. ... Interest payments are excluded from the generally accepted definition of free cash flow.

Free Goods

Free goods are found in abundance and do not carry a price directly, although taxation may be used to maintain these goods, e.g. fresh air

Freight Forwarder

A person or a corporation that accepts less than a truckload or less than a carload shipment from shippers and combines them into carload or truckload lots. 

Frictional Unemployment

Frictional unemployment refers to those people who are temporarily between jobs.

Full Employment

Full employment is a macroeconomic objective and refers to the full employment of all factors of production, the most important being labour.