last 20 vocab Flashcards
(20 cards)
distributors
Organizations that help other organizations sell their goods or services to customers
financial flow
the movement of financial assets throughout the supply chain
information flow
the movement of information along the supply chain
manufacture
To make something, especially on a large scale using machinery.
product flow
the movement of goods from the supplier to production, from production to distribution, and from distribution to the consumer
supply
The quantity of something that producers have available for sale
supply chain
the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function
budget
an estimate of income and expenditure for a set period of time
gross profit
net sales - cost of goods sold
operating expenses
All of the expenses involved in running a business
capital
money for investment
capital goods
Buildings, machines, technology, and tools needed to produce goods and services.
human resources
People who work to produce goods and services
inputs
the resources—such as labor, money, materials, and energy—that are converted into outputs
intangible
not material
natural resources
Raw materials supplied by nature
operations
the activities and processes used in making both tangible and intangible products
outputs
goods and services of value to households
production
The process of creating goods and services
tangible
capable of being touched; real, concrete
