commerce Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, nation ...

, a "''third-party source''" means a supplier (or

service provider A service provider (SP) is an organization that provides services, such as consulting, legal, real estate, communications, storage, and processing services, to other organizations. Although a service provider can be a sub-unit of the organization t ...

) who is not directly controlled by either the

seller Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. The seller, or the provider of the goods or services, completes a sale in r ...

(first party) nor the customer/

buyer Procurement is the method of discovering and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or serv ...

(second party) in a business transaction. The third party is considered independent from the other two, even if hired by them, because not all control is vested in that connection. There can be multiple third-party sources with respect to a given transaction, between the first and second parties. A second-party source would be under direct control of the second party in the transaction. "Definition - third party", Yale.edu, 2011, web:
YLic
, states: "not directly involved in the transaction". In

Information Technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of Data (computing), data . and information. IT forms part of information and communications technology (ICT). An information te ...

, a "''third-party source''" is a supplier of software (or a computer accessory) which is independent of the supplier and customer of the major computer product(s). In

E-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain managem ...

, "''3rd Party (3P) source''" refers to a seller who publishes products on a marketplace, without this marketplace to own or physically carry those products. When an order comes in, a 3P seller has the item on hand and fulfills it. An example of 3P sellers are merchants participating in

Amazon Amazon most often refers to: * Amazons, a tribe of female warriors in Greek mythology * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon River, in South America * Amazon (company), an American multinational technolog ...

's FBM program.

References

{{Reflist Business terms Sources

See also

References