B2B refers to business to business transactions where one business buys goods and services from another business.
B2C refers to business to consumer transactions where the final customer buys goods and Services from a business.
Backflush is an accounting approach, used in a Just-In-Time (JIT) environment, in which costing is delayed until goods are finished. Costs are then ‘flushed’ back at the end of the production process and assigned to the goods. This approach helps in eliminating all work-in-process accounts and manual assignments of costs to products during the various […]
Backorders are pending orders. These orders are generated when an item goes out of stock. The customers wait for the product until it is restocked again and delivered to them.
- Batching Rule
Combination of several smaller batches into one to reduce the MRP is called the Batch Rule.
- Bill of Materials (BOM)
An extensive list of raw materials, components required to manufacture or repair a product or service is called “bill of materials (BOM)”. A bill of materials often is designed in a format which keeps the finished product at the highest level and the other individual components and materials at the bottom. When it comes to […]
- Break Bulk
Break bulk cargo is general cargo or goods that do not fit in or utilize standard shipping containers or cargo bins. Break bulk is different from bulk shipping, which is used for cargo such as petroleum products or grain. Instead, breakbulk cargo is transported individually, oftentimes on a skid or pallet or in a crate. […]
- Bullwhip Effect
Definition The Bullwhip Effect is a phenomenon in the supply chain and distribution channels in which forecasts reveal supply chain inefficiencies. This mostly occurs when retailers become highly reactive to consumer demand, and in turn, intensify expectations around it, causing a domino effect along the chain. The bullwhip effect was named for the way the […]