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Overstock
Overstock, excessive stock, excess2sell, B-stock, or excess inventory, is the result of poor management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capital bound with the purchase or simply storage space taken. Excessive stock can result from over delivery from a supplier or from poor ordering and management of stock by a buyer for the stock. When referring to overstock merchandise in the form of consumer goods in a retail operation, the term refers to goods that have never been purchased by a customer but that are considered excessive stock from shelves and/or warehouses. Excessive stock is typically discarded of in the following ways: returned to the manufacturer or original distributor; liquidated to companies that then resell it on the secondary wholesale or retail market; sold at an extreme discount to existing customers; or sold to salvage companies which then process metals and comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Material Flow
Material flow is the description of the transportation of raw materials, pre-fabricates, parts, components, integrated objects and final products as a flow of entities. The term applies mainly to advanced modeling of supply chain management. As industrial material flow can easily become very complex, several different specialized simulation tools have been developed for complex systems. Typical tools are: * AnyLogic * AutoMod for logistics systems * Plant Simulation Plant Simulation is a computer application developed by Siemens Digital Industries Software for modeling, simulating, analyzing, visualizing and optimizing production systems and processes, the flow of materials and logistic operations. Using ... for production system References Control engineering Industrial ecology Industrial engineering Systems ecology Resource economics {{engineering-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process Management (Project Management)
In civil engineering and project management, process management is the management of "systematic series of activities directed towards causing an end result such that one or more inputs will be acted upon to create one or more outputs".PMI (2012), "Process" definition, in: ''A Guide to the Project Management Body of Knowledge'', 5th Ed. Process management offers project organizations a means of applying the same quality improvement and defect reduction techniques used in business and manufacturing processes by taking a process view of project activity; modeling discrete activities and high-level processes.Mitchell (2016). See Chapter 3 Process Management—Evolution and Definition. Overview The term ''process management'' usually refers to the management of engineering processes and project management processes where a ''process'' is a collection of related, structured tasks that produce a specific service or product to address a certain goal for a particular actor or set of act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead (business), overhead, wages, costs, and Profit (accounting), markup. Traditionally, professionals in the United Kingdom (and previously the Repu .... This definition is based on International Accounting Standard, IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profit (accounting), Profits or net income generally imply total revenue minus total expenses in a given period. In accountancy, accounting, in the balance statement, revenue is a subsection of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Capital
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, ''e.g.'', retail, corporate, investment banking, etc. In other words, financial capital is internal retained earnings generated by the entity or funds provided by lenders (and investors) to businesses in order to purchase real capital equipment or services for producing new goods and/or services. In contrast, real capital (or economic capital) comprises physical goods that assist in the production of other goods and services, e.g. shovels for gravediggers, sewing machines for tailors, or machinery and tooling for factories. IFRS concepts of capital maintenance ''Financial capital'' generally refers to saved-up financial wealth, especially that used in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vendor (supply Chain)
In a supply chain, a vendor, supplier, provider or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, these terms refer to a supplier of any goods or service. Description A vendor is a supply chain management term that means anyone can sell at events and provides goods or services of experience to another entity. Vendors may sell B2B ( business-to-business; i.e., to other companies), B2C (business to consumers or Direct-to-consumer), or B2G (business to government). Some vendors manufacture inventoriable items and then sell those items to customers, while other vendors offer services or experiences. The term vendor and the term supplier are often used indifferently. The difference is that the vendors ''sells'' the goods or services while the supplier ''provides'' the goods or services. In most of business context, except retail, this difference h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Flow
A cash flow is a real or virtual movement of money: *a cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected to happen in the future, are thus uncertain and therefore need to be forecast with cash flows; *a cash flow is determined by its time ''t'', nominal amount ''N'', currency ''CCY'' and account ''A''; symbolically ''CF'' = ''CF''(''t,N,CCY,A''). * it is however popular to use ''cash flow'' in a less specified sense describing (symbolic) payments into or out of a business, project, or financial product. Cash flows are narrowly interconnected with the concepts of value, ''interest rate'' and liquidity. A cash flow that shall happen on a future day ''t''N can be transformed into a cash flow of the same value in ''t''0. Cash flow analysis Cash flows are often transformed into measures that give information e.g. on a company's value and situat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as '' merchandise'', and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by touch such as a building, ve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory
Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials. The concept of inventory, stock or work in process (or work in progress) has been extended from manufacturing systems to service businesses and projects, by generalizing the definition to be "all work within the process of production—all work that is or has occurred prior to the completion of production". In the context of a manufacturing production system, inventory refers to all work that has occurred—raw materials, partially finished products, finished products prior to sale and departure from the manufacturing system. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory Control System
Inventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction. Other facets of inventory control include forecasting future demand, supply chain management, production control, financial flexibility, purchasing data, loss prevention and turnover, and customer satisfaction. An extension of inventory control is the inventory control system. This may come in the form of a technological system and its programmed software used for managing various aspects of inventory problems, or it may refer to a methodology (which may include the use of technological barriers) for handling loss preve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory Management Software
Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. Features Inventory management software is made up of several key components working together to create a cohesive inventory of many organization's systems. These features include: Reorder point Should inventory reach a specific threshold, a company's inventory management system can be programmed to tell managers to reorder that product. This helps companies avoid running out of products or tying up too much capital in inventory. Asset tracking When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Military Surplus
Military surplus are goods, usually matériel, that are sold or otherwise disposed of when held in excess or are no longer needed by the military. Entrepreneurs often buy these goods and resell them at surplus stores. Usually the goods sold by the military are clothing, equipment, and tools of a nature that is generally useful to the civilian population, as well as embroidered patches, name tags, and other items that can be used for a faux military uniform. Occasionally, vehicles (jeeps, trucks, etc.) will be sold as well. Some military surplus dealers also sell military surplus firearms, spare parts, and ammunition alongside surplus uniforms and equipment. Demand for such items comes from various collectors, outdoorsmen, adventurers, hunters, survivalists, and players of airsoft and paintball, as well as others seeking high quality, sturdy, military issue garb. The goods may be used, or not. Some merchants of surplus goods also sell goods that are privately manufactured in m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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