BUS 343 Study Guide - Radio-Frequency Identification, Enterprise Resource Planning, Order Processing

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Zaheer Jiwani

Document Summary

Supply chain: all the activities necessary to turn raw materials into a good or service and put it in the hands of the consumer or business customer. Supply chain management: the management of flows among firms in the supply chain to maximize total profitability. Insourcing: a practice in which a company contracts with a specialist firm to handle all or part of its supply chain operations. Channel of distribution: the series of firms or individuals that facilitates the movement of a product from the producer to the final customer. Channel intermediaries: firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user; an older term for intermediaries is middlemen. Breaking bulk: dividing larger quantities of goods into smaller lots in order to meet the needs of buyers. Creating assortments: providing a variety of products in one location to meet the needs of buyers.