| A | B |
|---|
| Inventory | All the stock that a business has on hand |
| Inventory control | Tracking the amount, kind, and value of inventory that a business has on hand |
| Logistics | Refers to managing the flow of goods and services from production to consumption |
| Net income | Money remaining after operating expenses are subtracted from gross profit |
| Operating system | The process a business uses to manufacture a good or provide a service; consists of people, places, materials, equipment, and information |
| Operations | The day-to-day activities for continued business functioning |
| Outputs | The goods and services produced as the result of combining inputs |
| Partially finished goods inventory | The producer’s inventory of products that are works in progress |
