Lead time, The time between placing an order and receiving the goods, Safety stock, Extra stock kept to protect against unexpected demand or delays, Reverse logistics, The process of moving goods from the customer back to the seller, for example returns, Backorder, An order that cannot be filled now because the item is out of stock, Dropshipping, A retail method where the seller ships directly from the supplier to the customer, Milk run, A delivery route where one vehicle collects goods from several suppliers in a loop, Bullwhip effect, Growing swings in orders and inventory as you move up the supply chain, Order picking, Collecting items from storage to fulfil a customer order, Transshipment, Moving cargo from one vessel or vehicle to another during its journey, Backhaul, A return trip of a vehicle carrying goods instead of travelling empty, Bonded warehouse, A warehouse where imported goods are stored without paying duties until they are released, SKU, A unique code used to identify and track each product in stock, Reorder point, The stock level at which a new order must be placed, Hub and spoke, A network where goods go through a central hub before reaching their destinations, Cold chain, A supply chain that keeps products at a controlled low temperature

Round 5

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