| A | B |
|---|
| Brand | Name, term, or design that sets a product or business apart from its competition. |
| Commercialism | Introduction stage of a new product. |
| Conversion | Process of changing and improving resources to create goods or services. |
| Custom Manufacturing | Converting resources to a product that fits the specifications of a particular customer. |
| Direct Material Inventoru | Raw materials needed to produce a finished product. |
| Division of Labor | Specialization of individuals who perform specific tasks. |
| Electronic Data Interchange | Standard transfer of electronic data for business transactions between organizations. |
| Finished Godds Inventory | Assortment or selection of finished items for sale that a business has in stock. |
| Image | Idea that people have about someone or something. |
| Inventory | Assortment or selection of items that a business has on hand at a particular point in time. |
| Inventory Management | Area of management involved in ordering goods, receiving them into stock on arrival, and paying the vendor. |
| Inventory Shrinkage | Difference between the perpetual inventory and the physical inventory. |
| Just-In-Time Inventory | Method of managing inventory that keeps a minimal amount of raw materials on hand to meet production needs. |
| Mass Production | Manufacturing goods in large quantities using standard techniques. |
| Materials Processing | Changing the form of raw materials for another use. |
| New Product | Product that is different in some way from existing products. |
