Logistics, The business activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit., Inbound logistics, The area of logistics that involves bringing raw materials, packaging, other goods and services, and information from suppliers to producers., Outbound logistics, The area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers (people like u and me), Materials handling, The movement of goods within a warehouse, from warehouses to the factory floor, and from the factory floor to various workstations., Reverse logistics, The area of logistics that involves bringing goods back to the manufacturer because defects or for recycling, Logistics management, Is the process of planning, implementing, and controlling the efficient, cost-effective flow and storage of goods, services, and related information from the point of origin to the point of consumption., A supply chain, Is the interconnected network of people, organizations, resources, activities, and technology involved in creating a product and moving it from its original source to the final customer., The push strategy, focuses on producing and distributing goods based on forecasted demand. This approach involves pushing products throughout the supply chain regardless of actual customer demand., The pull strategy, relies on actual customer demand to drive production and distribution. This approach pulls products through the supply chain as orders are placed, minimizing inventory levels and reducing waste, Quality, To produce a good or a service which meets customer expectations, Quality control, The checking for quality at the end of the production process, whether it is the production of a product or service., Quality assurance, The checking for quality standards throughout the production process, whether it is production of a product or service., Total Quality Management (TQM), The continuous improvement of products and processes by focusing on quality at each stage of production., Market, The set of all actual and potential buyers of a good or service; the place where people buy and sell; the people who trade in a particular good; to make goods available to buyers and to encourage them to buy them., Market leader, The company with the largest market share., Market nicher, A small company that concentrates on one or more particular niches or small market segments., Market research, The collection, analysis and reporting of data relevant to a specific marketing situation (e.g: a proposed new product)., Market segment, Part of a market; a group of customers with specific needs, defined in terms of geography, age, sex, income, occupation, life-style., Market segmentation, The act of dividing a market into distinct groups of buyers who have different requirements or buying habits., Market share, The sales of a company (or brand or product) expressed as a percentage of total sales in marketing - the process of identifying and satisfying consumer’s needs and desires., Marketing channel, The set of intermediaries a company uses to get its goods to their end users., Marketing mix, The set of all the various elements in a marketing programme, and the way a company integrates them., Marketing strategy, A plan or principle designed to achieve marketing objectives., Product life cycle, The standard pattern of sales of a product over the period that it is marketed., Market challenger, Is a company (often holding the second-largest share) that aggressively tries to gain share and replace the leader, Market follower, Is a runner-up firm that chooses to maintain its position and avoid rocking the boat.

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