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Operations Management Key Concepts

Key Concepts

Key Concepts provide you with definitions of buzzwords appearing in the media to ensure that you are up to speed with the current finance conversation. Produced in snapshot, glossary form, Key Concepts direct you to additional material to increase your knowledge and satisfy your interest.

  • Arbitration
    Arbitration is an alternative to litigation. Its purpose is to resolve a dispute without resorting to expensive litigation within the court system.Arbitration is typically used in commercial disputes, especially at an international level. In the contract they enter into, the parties should specify the way in which they will deal with any dispute resulting from the contract or its breach. Arbitration is usually the means of solving a commercial...
  • Supply Chain Management
    The supply chain consists of all the producers, manufacturers, wholesalers, distributors, and retailers, who process raw materials into finished goods and services and deliver them to consumers. Even the simplest of products, such as bread, may have a long supply chain. In the case of bread this consists of the farmers who grow wheat to the grain millers, transport firms, bakeries, retailers, advertising and branding agencies, and packaging...

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