Raw materials from vendors transform them into

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raw materials from vendors, transform them into finished goods, and deliver both goods and services to customers. Fourth-party logistics provider - a company hired to manage all of a firm’s logistics and supply chain management capabilities. Bullwhip effect - The unexpected distortion of the supply chain caused by demand oscillations that can have a negative effect on business performance, such as inventory disruptions, quality control problems, diminished customer service, and increased costs of materials and manpower. Business process reengineering (BPR) - the radical rethinking and redesigning of business processes to reduce waste and increase performance. Focal firm - the initiator of an International business transaction, they conceive, design and produce the offerings [goods or services] intended for consumption. Supplier management - encouraging or helping the firm s suppliers to perform in some desired fashion. Supplier evaluation - determining the current capabilities of suppliers. Supplier certification allows buyers to assume the supplier will meet certain product quality and service requirements covered by the certification, thus reducing duplicate testing and inspections and the need for extensive supplier evaluations. Right-shoring is the combination of on- shore, near-shore and far-shore operations into a single, flexible, low-cost approach to supply chain management. Greenwashing - making environmental claims for products that are exaggerated or misleading.
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