Flashcards on Comprehensive Business & Economics Glossary
Comprehensive Business & Economics Glossary for Students
Tap to flip · Swipe to navigate
Business Manufacturing & Logistics
69 cards
Card 1
Question: What is logistics?
Answer: The detailed organization and implementation of a complex operation involving the movement of resources.
Card 2
Question: What does distribution mean?
Answer: The process of making a product or service available for the consumer or business user who needs it.
Card 3
Question: Define supply chain.
Answer: The network of all the individuals, organizations, and activities involved in the creation and sale of a product.
Card 4
Question: What is a manufacturer?
Answer: A person or company that makes goods for sale.
Card 5
Question: What is a distributor?
Answer: An entity that buys non-competing products or product lines and resells them to retailers.
Card 6
Question: What is a retailer?
Answer: A business that sells goods to the public in small quantities for use or consumption.
Card 7
Question: What is a destination in logistics?
Answer: The place to which someone or something is going or being sent.
Card 8
Question: What does consumption refer to?
Answer: The action of using up a resource or the purchase of goods and services.
Card 9
Question: What is labour division?
Answer: The separation of a work process into a number of tasks, with each task performed by a separate person.
Card 10
Question: What is an assembly line?
Answer: A series of workers and machines in a factory where identical items are progressively assembled.