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Procurement is the process of finding and acquiring goods and services from an external source via a bidding or tender process.

JIT is an inventory management approach where materials are only ordered and received as they are needed in the production process.

Lean manufacturing is a production practice that considers the expenditure of resources for any goal other than creating customer value as wasteful, and thus a target for elimination.

A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.

Logistics refers to the detailed coordination of a complex operation involving many people, facilities, or supplies, in the context of moving goods from suppliers to customers.

Inventory management is the practice of ordering, storing, tracking, and controlling inventory to ensure an organization has the right amount of stock at the right time.

Demand forecasting is the process of making estimations about future customer demand over a defined period, using historical data and other information.

Lead time is the amount of time that elapses between the initiation and completion of a process; in supply chain, it refers to the time taken from ordering a product until its receipt.

The bullwhip effect is a phenomenon in forecast-driven distribution channels where variations in demand cause inventory to fluctuate significantly at different stages of the supply chain.

3PL refers to the outsourcing of supply chain functions and logistics functions to a third-party provider, who typically takes care of warehousing, transportation, and order fulfillment.

Supply chain optimization is the application of processes and tools to ensure the optimal operation of a supply chain. This can include the planning and management of all activities involved in sourcing, procurement, and logistics.

Warehouse management involves the oversight of operations in a warehouse to ensure that goods are received, stored, and dispatched properly and efficiently.

A distribution center is a warehouse or specialized facility where products are stored and from which they are distributed to retailers or customers.

Supply chain visibility is the ability to track products as they move through the supply chain, from suppliers to the final customer.

An agile supply chain is a system that is flexible and adaptable in the face of changing conditions and demands, able to respond rapidly to fluctuating markets.

Six Sigma is a set of techniques and tools for process improvement, aiming at minimizing the variance in manufacturing and business processes to improve quality.

Safety stock is a level of extra inventory held to mitigate the risk of stockouts caused by uncertainties in supply and demand.

Order fulfillment is the complete process from point of sales inquiry to the delivery of a product to the customer.

Reverse logistics is the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal in the case of returns, defects, or recycling.

A global supply chain is one that involves players from multiple countries who participate in the production, handling, and delivery of a product or service worldwide.

EDI is the electronic interchange of business information using a standardized format, which allows one company to send information to another company electronically rather than with paper.

SRM is the discipline of strategically planning for, and managing, all interactions with third party organizations that supply goods and/or services to an organization in order to maximize the value of those interactions.

Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff.

Supply chain analytics refers to the use of quantitative and qualitative methods to analyze and improve an organization's supply chain operations.

Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products.

Supply chain sustainability is a business issue affecting an organization’s supply chain or logistics network, and is frequently quantified by environmental, social, and legal metrics.

Kanban is a scheduling system for lean and just-in-time production which signals the need for parts or materials before they run out.

Cross-docking is a practice in logistics of unloading materials from an incoming truck or rail car and loading these materials directly onto outbound trucks, trailers, or rail cars to reduce inventory storage.

ERP is a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.