brand |
A name or symbol used to represent a company or its products. A brand helps to make a product recognizable in the minds of customers. |
core competencies |
The areas of expertise that distinguish a company from its competition. Core competencies reflect what a company does best. |
customer |
An organization or individual that receives a product or service from a company. |
customer service |
The area of business that focuses on timely and complete product delivery, as well as the repair and replacement of products after sale. |
distributor |
A company that sells a variety of products to a customer. Many companies sell products to a distributor before they reach the final customer. |
finance |
The area of business that focuses on the effective management of money and other company assets. |
forecasting |
A prediction of customer demand used to calculate future inventory levels. |
information technology |
The systems and resources that a company uses to collect and organize the information necessary for conducting business. |
inventory |
Manufactured products that are stored before being shipped to the customer. |
just-in-time |
An approach to production and distribution that emphasizes flexible processes and reduced inventories to decrease costs and improve responsiveness. |
logistics |
The area of business that focuses on the purchase, production, and distribution of materials. The term "logistics" now suggests a focus of these activities within a single company. |
marketing |
The area of business that focuses on selling products to a consumer and encouraging sales. |
supplier |
An organization that provides a product to a company. Products are often passed in a chain, from the supplier to the company to the customer. |
supply chain |
A network of companies that exchange resources such as materials and information to deliver products to customers. Supply chains consist of a company, its suppliers, its distributors, and its customers. |
supply chain management |
The effective coordination of companies within a supply chain that manage their resources to meet the needs of customers. |
value |
A real or perceived quality that satisfies the needs and wants of a customer. Value includes the features of a product, as well as other qualities associated with the product. |
value stream |
The series of activities within a supply chain that add value from the perception of the customer. |