Online Network for Entrepreneurs and Startups. This group provides you with startup support, as well as assistance with planning your new venture.

In materials management, ABC analysis is an inventory categorization technique. ABC analysis divides an inventory into three categories—"A items" with very tight control and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest controls possible and minimal records.

Abnormal Indivisible Loads

ATA Carnet (pronounced kar-nay) is an international customs and temporary export-import document. It is used to clear customs in 87 countries and territories without paying duties and import taxes on merchandise that will be re-exported within 12 months*.

Demand not in the forecast, frequently from a customer with whom the
company has not been doing business.

Material plus labour plus overhead expenses.

Academic literacy is the ability to write and read about academic subjects. The ability to gather information, process information and understand the information in a post-secondary education environment 

The skills of academic literacy can be applied in the classroom, assignments and exams. The goal is to equip students with the ability to summarize, compare, contrast, create ideas and analyse information from a wide variety of sources. 

Acceptance sampling uses statistical sampling to determine whether to accept or reject a production lot of material. It has been a common quality control technique used in industry. It is usually done as products leaves the factory, or in some cases even within the factory. 

Controlling of access to allow only authorised personnel into the business system or warehouses.

A report or description of an event or experience.

The obligation of an individual or organisation to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner. It also includes the responsibility for money or other entrusted property.

Income and expenses are recorded when they are billed and earned, regardless of when the money is received or paid.

Behave in the way specified.

An uncontrollable action by a natural cause (such as a flood or earthquake).

The fact or process of doing something, typically to achieve an aim.

Able to move quickly and easily.

An iterative approach to planning and guiding project processes. Just as in Agile Software Development, an Agile project is completed in small sections. These sections are called iterations. In Agile Software Development, for instance, an iteration refers to a single development cycle

Agile Supply the ability to match supply and demand in turbulent and unpredictable markets, by being demand driven rather than forecast driven. Agility is concerned about responsiveness.

the ground-based personnel and equipment concerned with controlling and monitoring air traffic within a particular area.

A process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.

Is a set of step-by-step procedures, or a set of rules to follow, for completing a specific task or solving a particular problem.

To examine in detail and break down into components in order to discover meaning, essential features, etc.

Is a method for systematically selecting the most desirable suppliers with respect to multiple, confliction factors influencing the supplier selection decision.

an Andon light is used to signal that there is a problem at a work centre. These can be controlled by an operator or can be automated via a system.

Officially agreed or accepted as satisfactory.

Arbitration is a formal procedure for resolving a contractual dispute, without involving the courts. The arbitrator’s decision is binding.

Authority is power that is delegated formally. It includes a right to command a situation, commit resources, give orders and expect them to be obeyed, it is always accompanied by an equal responsibility for one's actions or a failure to act.

(also known as stop orders) allows the payer to set an automatic or recurring payment with their bank to pay the biller a set amount on a set date.

A number expressing the central or typical value in a set of data, in particular the mode, median, or (most commonly) the mean, which is calculated by dividing the sum of the values in the set by their number.

In negotiation theory, the best alternative to a negotiated agreement or BATNA refers to the most advantageous alternative course of action a party can take if negotiations fail and an agreement cannot be reached. 

The return movement of a transportation vehicle from the direction of its principal haul especially transporting a shipment back over part or all of the route.

Balance of payment entails whether a country is saving enough to pay for its imports. A balance of payments deficit means the country imports more goods, services and capital than it exports. It must therefore borrow from other countries to pay for its imports.

Is complete and responsive feedback to what the customer said and how they feel The feedback is customer-centric and you do not make any personal remarks. This confirms that you have listened to the customer with empathy. You did not judge, evaluate or try to interpret what is or isn’t important. You give this feedback in an unconditional manner and include the customer’s words and emotions.

Is the amount of inventory that a business needs to keep on hand in order to fulfill customer orders with a delay no greater than expected by customers.

A process of assessing existing data collection and analysis methodology

Refers to large and/or complex datasets that go beyond the capabilities of people and traditional software to capture, store, manage and analyse them in their entirety.

A bill of lading is a document issued by a carrier to acknowledge receipt of cargo for shipment. Although the term historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods.

A “bit” (short for Binary Digit) is the smallest unit of data that can be stored by a computer. Each “bit” is represented as a binary number, either a 1 (true) or 0 (false)

Is a contract to purchase a minimum quantity during a specific period, usually a year.

A Blanket Purchase Order (BPO) is the preferred method for placing orders which will require multiple payments over a period of time. Examples of BPO's are: standing orders, maintenance/service contracts, and open orders.

Is a certificate, issued by a government or a public company, promising to repay borrowed money at a fixed rate of interest at a specified time. It is a binding agreement that commits one party to make a payment to another.

The bottom line refers to a company's earnings, profit, net income, or earnings per share (EPS).

The term break bulk derives from the phrase breaking bulk—the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ship's holds. These goods may not be in shipping containers. Break bulk cargo is stored in bags, boxes, crates, drums, or barrels.

Combined customer orders are received from the manufacturer and the goods are received in bulk. The bulk goods are unpacked into smaller quantities to be shipped to individual customers.