Tuesday, 7 May 2024, 12:53 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
I
Interdependent RelationshipAs explained by Woodburn and McDonald (2011), in an interdependent level the organisations collaborate across a range of functions. Interactions are orchestrated and managed by a key accounts manager whose role is to manage the relationship, and ensure that nothing discredits the partnership. |
InterestInterest is payment for capital, example lease payments for machinery. |
IntermediaryAlso seen as a ‘middle man’. Intermediary is a company or person (such as a broker or consultant) who acts as a mediator or a link between parties for a business deal, investment decision, negotiation, and so forth. |
Intermediate GoodsIntermediate goods are inputs into the production of final goods, example nuts and screws. |
Internal AuditInternal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization's operations. |
Inverse RelationshipInverse (negative) relationship shows two variables which are causally linked increasing or decreasing in opposite directions. |
InvestmentInvestment refers to the buying of capital goods needed for production, example machinery. |