Monday, 29 April 2024, 1:31 AM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Price TakerPrice taker is a company or consumer who has no influence on the market price. |
Prime CostsPrime costs – sum of direct materials and direct labour. |
Private CostsPrivate costs are costs borne by an individual firm. |
PrivatisationPrivatisation refers to transferring ownership of assets and resources from the government to the private sector. |
Processa collective term
referring to the logical sequence of steps to achieve an objective |
Process RefinementRefinements are small changes or additions that you make to something in order to improve it. Refinement is the process of making refinements. |
ProcessesA series of actions or steps taken in order to achieve a particular end. |
ProcurementProcurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement generally involves making buying decisions under conditions of scarcity. |
Producer Price Index (PPI)Producer price index is an index of the prices of a representative basket of producer goods (inputs) and measures the cost of production. |
Product A product is an object or system made available for consumer use; it is anything that can be offered to a market to satisfy the desire or need of a customer. |