Suppliers of Business Resources and the Supply Chain (VCE SSCE Business Management): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Supplier
Supplier
Organisation/individual providing necessary business inputs
Supply chain
Supply chain
System moving products from suppliers to consumers
Primary supply chain objective
Primary supply chain objective
Match supply with demand, keep inventory low
Just-in-time technique
Just-in-time technique
Receiving materials only when needed in production
Local sourcing benefit
Local sourcing benefit
Reduces transport time/costs, supports local economy
Food miles
Food miles
Distance food travels from production to consumption
First-tier suppliers
First-tier suppliers
Direct suppliers to a business
Social audits purpose
Social audits purpose
Verify suppliers comply with ethical standards
Long-term supplier contracts benefit
Long-term supplier contracts benefit
Secures agreed prices and guaranteed quantities
Direct supplier engagement benefit
Direct supplier engagement benefit
Identifies and eliminates production bottlenecks