Key strategic relationships. By partnering with big players, via equity offerings if necessary, a company creates barriers to entry into supply chain relationships for competitors.
Purchasing agent who buys and takes the title to goods and then resells them.
The act of inspecting or testing every item in an incoming or outgoing lot.
A method of subdividing a picking list by areas within a storeroom for more efficient and rapid order picking. A zone-picked order must be grouped to a single location before delivery or must be delivered to different locations such as work centers. See: batch picking, discrete order picking, order picking.
Raw ingredients or intermediates available for further processing into marketable products.
One plant's need for a part or product that is produced by another plant or division within the same organization. Although it is not a customer order, it is usually handled by the master production scheduling system in a similar manner.
A highly profitable product in a low-growth market.
Reference: APICS word of the week - Cash Cow.
In the comment section below share some examples of a "Cash Cow" that you can think of.
The practice of dividing a customer base into groups of individuals who are similar in specific ways relevant to marketing. Traditional segmentation focuses on identifying customer groups based on demographics and attributes such as attitude and psychological profiles.
A small-scale production facility used to develop production processes and to manufacture small quantities of new products for field testing and so forth. Syn: semiworks.
An agreement between countries intended to reduce or remove barriers to trade wtihin member countries. Frequently, but not always, those countries are geographically close. Examples of trade blocs are: The European Economic Communitya and the North American Free Trade Agreement (NAFTA). Sny: trading bloc.
Reference: APICS Word of the week.