Saturday, 20 April 2024, 4:41 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
V
ValidationValidation – evidence which supports an idea. |
Value AddedValue added refers to the value added to the product at each stage of the production process. |
Value Added TaxValue added tax is a tax levied at each stage of the production process. |
Value ChainsA value chain is a set of activities that a firm operating in a specific industry performs in order to deliver a valuable product for the market. |
Value DriversValue drivers are anything that can be added to a product or service that will increase its value to consumers. These differentiate a product or service from those of a competitor and make them more appealing to consumers. |
Variable CostsVariable costs – costs that fluctuate in line with volume |
Variable InputsVariable inputs are those inputs that vary with the number of items being produced. Examples include raw materials, stationery, fuel and labour. |
VATVAT – Value Added Tax (15%) it used to be 14% |
VAT PayableVAT Payable – Output VAT is more than input VAT |
VAT RefundableVAT Refundable – Input VAT is more than Output VAT |