Global Manufacturing & Sourcing
Extra quantities of stock that are kept in case they are needed to prevent shortages.
buffer/safety stock
Goods that are transported via road, rail, or air.
freight/cargo
Official examinations of a supplier's labour practices and working conditions.
audit
This term describes food, such as fruit or vegetables, that can spoil or go bad quickly.
perishable
The specific amount of carbon emissions that an activity or supply chain produces.
carbon footprint
A general rise in the rates of pay within a specific country or industry.
wage inflation
Products that are specifically made to meet the unique needs of a particular customer.
customised
A wage that is sufficient for a worker to support their family and afford basic necessities.
living wage
Frequent changes in measurements, such as temperature or humidity, moving from high to low.
fluctuations
When several different deliveries are combined together for transport.
consolidated
When a company moves part of its operations to another, often cheaper, country.
offshoring
A clear advantage that allows one company to be more successful than its competitors.
competitive edge
Official statement that accuse a company or supplier of misconduct.
allegation
The total amount of time required to transport goods from one location to another.
transit time
Reaching an acceptable balance between two very different or competing things.
trade-off
These specific costs are predictable and do not change frequently.
static costs
The quality of a product or process being more advanced and complex than others.
sophistication
Formal sets of rules regarding ethical behavior that companies require their suppliers to follow.
code of conduct
The length of time a food product will remain in good condition once it is placed on a shelf for sale.
shelf-life
A term used to describe prices or costs that are increasing very rapidly.
soaring
Countries with less-developed economies that are expected to experience significant growth.
emerging countries
A new business venture started by two or more companies working together.
joint venture
The process of running a business in a way that helps people in society improve their quality of life.(3 words)
corporate social responsibility
A term describing something that has been shortened or concentrated.
condensed
This describes the moment when one particular result of a process becomes the most likely one.
tipping point