Industry Terminology

Num A B C D E F G H I J K L M N O P Q R S T U V W




C&F: Cost and Freight: price includes goods and transport.


C.P.M. - Certified Purchasing Manager


CAD: See Computer-Aided Design.


CAE: Computer-Aided Engineering.


Call Centre: A facility housing personnel who respond to customer phone queries. These personnel may provide customer service or technical support. Call centre services may be in-house or outsourced. Synonym: Customer Interaction Centre.


CAM: Computer Aided Manufacturing


CAO: Computer-Assisted Ordering. Software that generates store replenishment orders according to POs, perpetual inventory, and shelf-stock data, typically ordering from the chain's own warehouse. See Continuous Replenishment Programs.


Capable to Promise (CTP): A technique used to determine if product can be assembled and shipped by a specific date. Component availability throughout the supply chain, as well as available materials, is checked to determine if delivery of a particular product can be made. The process of committing orders against available capacity as well as inventory. This process may involve multiple manufacturing or distribution sites. Capable-to-promise is used to determine when a new or unscheduled customer order can be delivered. Capable-to-promise employs a finite-scheduling model of the manufacturing system to determine when an item can be delivered. It includes any constraints that might restrict the production, such as availability of resources, lead times for raw materials or purchased parts, and requirements for lower-level components or subassemblies. The resulting delivery date takes into consideration production capacity, the current manufacturing environment, and future order commitments. The objective is to reduce the time spent by production planners in expediting orders and adjusting plans because of inaccurate delivery-date promises.


Capacity: The physical facilities, personnel and process available to meet the product or service needs of customers. Capacity generally refers to the maximum output or producing ability of a machine, a person, a process, a factory, a product, or a service. Also see: Capacity Management


Capacity Management: The concept that capacity should be understood, defined, and measured for each level in the organization to include market segments, products, processes, activities, and resources. In each of these applications, capacity is defined in a hierarchy of idle, non-productive, and productive views.


Capacity Planning: Assuring that needed resources (e.g., manufacturing capacity, distribution centre capacity, transportation vehicles, etc.) will be available at the right time and place to meet logistics and supply chain needs.


CAPEX: A term used to describe the monetary requirements (CAPital EXPenditure) of an initial investment in new machines or equipment.


CAPS: Centre for Advanced Purchasing Studies


Cargo: A product shipped in an aircraft, railroad car, ship, barge, or truck.


Carload Lot: A shipment that qualifies for a reduced freight rate because it is greater than a specified minimum weight. Since carload rates usually include minimum rates per unit of volume, the higher LCL (less than carload) rate may be less expensive for a heavy but relatively small shipment.


Carrier: A firm which transports goods or people via land, sea or air.


Carrier Code: A unique combination of letters (code) assigned to a carrier by the Interstate Commerce Commission (ICC).


Cart (pull cart): Four wheeled cart used in order filling. Labelled merchandise is placed on it, then transported to the conveyors or shipping dock. Also used in a manual Distribution Centre that operates with a towveryoer line instead of conveyors.


CASE: Computer-Aided Software Engineering. Software that assists with software design (upper CASE), "automatic" programming (lower CASE), implementation, and maintenance.


Cash Drawer Driver: Software used to automate non-intelligent cash drawers.


Cash Settlement System: Processes and generates reports of cash room coin, currency, and media (cash, checks, credit slips, etc.) verification.


Cash-to-Cash Cycle Time: The time it takes for cash to flow back into a company after it has been spent for raw materials. Synonym: Cash Conversion Cycle. Calculation: Total Inventory Days of Supply + Days of Sales Outstanding - Average Payment Period for Material in days


CASM: Carrier Assessment Selection and Management


CAT: Credit Authorization Terminal.


CAT Interface: Credit Authorization Terminal connected to a POs register or PC via a bridge controller (wedge).


Category: Class of products within which a consumer can substitute one for another (e.g., pain relievers, hosiery).


Category Management: The management of product categories as strategic business units. The practice empowers a category manager with full responsibility for the assortment decisions, inventory levels, shelf-space allocation, promotions and buying. With this authority and responsibility, the category manager is able to judge more accurately the consumer buying patterns, product sales and market trends of that category.


Causal Forecast: In forecasting, a type of forecasting that uses cause-and-effect associations to predict and explain relationships between the independent and dependent variables. An example of a causal model is an econometric model used to explain the demand for housing starts based on consumer base, interest rates, personal incomes, and land availability.


Cause and Effect Diagram: In quality management, a structured process used to organize ideas into logical groupings. Used in brainstorming and problem solving exercises. Also known as Ishikawa or fish bone diagram.


CBD: Cash Before Delivery


CCD: Charge-Coupled Device. A type of bar-code reader that operates by flashing an LED, creating a reflected image onto photosensitive material, and digitizing that image.


CDC Cross-Dock Centre: a stockless (or virtual) distribution centre where goods are generally not placed into storage for subsequent picking, but arrive and depart relatively quickly - by passing "across the dock". This is achieved by suppliers delivering individual store orders. Also Consolidated Distribution Centre and Combined Distribution Centre. See also PBL.


CDD: Consumer Demand Driven. Capturing the demand as close to the market as possible using information such as point-of-sale data.


CD-ROM: Compact Disc-Read Only Memory.


Centralized Dispatching: The organization of the dispatching function into one central location. This structure often involves the use of data collection devices for communication between the centralized dispatching function, which usually reports to the production control department, and the shop manufacturing departments.


CEO: Chief Executive Officer: also "Chairman's Executive Office" (see also COO).


Certificate of Analysis (COA): A certification of conformance to quality standards or specifications for products or materials. It may include a list or reference of analysis results and process information. It is often required for transfer of the custody/ownership/title of materials.


Certificate of Compliance: A supplier's certification that the supplies or services in question meet specified-requirements.


CF: Cost & Freight. Also "c.f." (confer) - compare.


CFAR: See Collaborative Forecasting and Replenishment.


CFCs: Chlorofluorocarbons--range of chemicals at one time widely used in packaging, propellants and refrigerants but now believed to be responsible for the destruction of ozone in the upper atmosphere and consequently global warming.


CFD: Continuous Flow Distribution


CFM: Collaborative Freight Management: integrated supply chain management - using alliances between freight/logistics companies, customers and suppliers to cut transport costs, improve efficiency and add value.


CFO: Chief Financial Officer


CFR: Cost and Freight: also "CAF", "CF".


CFT: Cross-Functional Team:--a multi-skilled team.


CGP-Cost of Good Purchased


Change Management: The business process that coordinates and monitors all changes to the business processes and applications operated by the business as well as to their internal equipment, resources, operating systems, and procedures. The change management discipline is carried out in a way that minimizes the risk of problems that will affect the operating environment and service delivery to the users.


Channel: 1) A method whereby a business dispenses its product, such as a retail or distribution channel, call centre or web based electronic storefront. 2) A push technology that allows users to subscribe to a website to browse offline, automatically display updated pages on their screen savers, and download or receive notifications when pages in the website are modified. Channels are available only in browsers that support channel definitions, such as Microsoft Internet Explorer version 4.0


Channel Conflict: This occurs when various sales channels within a company's supply chain compete with each other for the same business. An example is where a retail channel is in competition with a web based channel set up by the company.


Channel Partners: Members of a supply chain (i.e. suppliers, manufacturers, distributors, retailers, etc.) who work in conjunction with one another to manufacture, distribute, and sell a specific product.


Channels of Distribution: Any series of firms or individuals that participates in the flow of goods and services from the raw material supplier and producer to the final user or consumer. Also see: Distribution Channel


Character Density: A measurement of the number of characters per inch that are encoded in a bar code.


Check Digit or Check Character: A character used as a mathematical check to ensure accuracy. Commonly used in SKU numbers and bar codes.


Check Readers: Electronic devices that read MICR-encoded checks and transmit that information to a PC or terminal for further processing.


CHEP: Commonwealth Handling Equipment Pool: a pallet (strictly a pooling system for pallets and automotive crates).


CIF: Cost, Insurance & Freight: i.e. price includes cost (of goods), insurance and transport.


CL: Carload: a rail freight term.


Claim: Action taken against a carrier, vendor, or individual for lost and/or damaged freight.


Cleansing of Data: Putting data in a consistent format and removing errors, often for data warehouses or other large databases.


Clearinghouse: A conventional or limited purpose entity generally restricted to providing specialized services, such as clearing funds or settling accounts.


Click-and-Mortar: With reference to a traditional brick-and-mortar company that has expanded its presence online. Many brick-and- mortar stores are now trying to establish an online presence but often have a difficult time doing so for many reasons. Click-and- mortar is "the successful combination of online and real world experience."


Client/Server: A computing architecture that separates application functionality from centralized data and services. There are at least five stages of separation between clients and servers, but generally the user presentation and some processing is on clients, while data and some functions reside on servers.


Clip Art: A collection of icons, buttons, and other useful image files, along with sound and video files that can be inserted into documents/web pages.


CLM: Council of Logistics Management


CLO: Chief Logistics Officer


CLR: Competitive Line Rate: a railfreight term.


CM: Controlled Manufacturing


CMI: See Co-managed Inventory


CMR: Customer Managed Relationship: a self-service approach to customer management, enabling people to obtain the services or information they need themselves. The acronym also denotes an international convention for the carriage of goods by road.


CNG: Compressed Natural Gas: used as motor fuel (see also LNG, LPG).


CO: Carbon Monoxide


COA: See Certificate of Analysis


COD: Cash On Delivery: see also CWO.


Code: A numeric, or alphanumeric, representation of text for exchanging commonly used information. For example: commodity codes, carrier codes,


Code 128: Variable length, bi-directional, self-checking, alphanumeric bar-code symbology with 128 characters. It's the symbology used for shipping containers (a VICS standard) for vendors' shipping labels to general merchandise retailers.


Code 39: Variable length, bi-directional, self-checking alphanumeric bar code. Three of the elements are wide and six are narrow. Rarely used in retail any more.


Co-destiny: The evolution of a supply chain from intra-organizational management to interorganizational management.


Codifying: The process of detailing a new standard.


CofI: Certificate of Inspection


CofM: Certificate of Manufacture. Also COM.


CofO: Certificate of Origin


CofS: Certificate of Shipment


COGS: See Cost of Goods Sold


COGSA: Carriage of Goods by Sea Act (USA).


Collaborative Forecasting and Replenishment (CFAR): An initiative that enables companies along a supply chain to work together, communicating via the Internet, to develop a single, more accurate demand forecast and to create a plan for delivering product to meet that demand.


Collaborative Planning, Forecasting and Replenishment (CPFR): 1) A collaboration process whereby supply chain trading partners can jointly plan key supply chain activities from production and delivery of raw materials to production and delivery of final products to end customers. Collaboration encompasses business planning, sales forecasting, and all operations required to replenish raw materials and finished goods. 2) A process philosophy for facilitating collaborative communications. CPFR is considered a standard, endorsed by the Voluntary Interindustry Commerce Standards.


COM: Certificate of Manufacture: Also CofM.


Co-Managed Inventory (CMI): A form of continuous replenishment in which the manufacturer is responsible for replenishment of standard merchandise, while the retailer manages the replenishment of promotional merchandise.


Committed Capability: The portion of the production capability that is currently in use, or is scheduled for use.


Commodity: An item that is traded in commerce. The term usually implies an undifferentiated product competing primarily on price and availability.


Commodity Buying: Grouping like parts or materials under one buyerís control for the procurement of all requirements to support production.


Commodity Procurement Strategy: The purchasing plan for a family of items. This would include the plan to manage the supplier base and solve problems.


Common Carrier: Transportation available to the public that does not provide special treatment to any one party and is regulated as to the rates charged, the liability assumed, and the service provided. A common carrier must obtain a certificate of public convenience and necessity from the Federal Trade Commission for interstate traffic.


Company Culture: A system of values, beliefs, and behaviours inherent in a company. To optimize business performance, top management must define and create the necessary culture.


Competitive Advantage: Value created by a company for its customers that clearly distinguishes it from the competition, and provides its customers a reason to remain loyal.


Competitive Benchmarking: Benchmarking a product or service against competitors. Also see: Benchmarking


Competitive Bid Processes:Processes used to determine sources, options, specifications,


Competitive Data: Data acquired from an outside source that can be added to the data warehouse and used to measure a retailer's performance against competing firms. It might include geo-demographic data, multi-chain summarized POs data, consumer purchase panel data, etc.


Complete & On-Time Delivery (COTD): A measure of customer service. All items on any given order must be delivered on time for the order to be considered as complete and on time.


Compliance: Meaning that products, services, processes and/or documents comply with requirements.


Component: Material that will contribute to a finished product but is not the finished product itself. Examples would include tires for an automobile, power supply for a personal computer, or a zipper for a ski parka.


Computer-Aided Design (CAD): Systems that streamline development of engineering and storage of designs, often enabling many to work on a design simultaneously.


Configuration: The arrangement of components as specified to produce an assembly.


Configure/Package-to-Order: A process where the trigger to begin manufacture, final assembly or packaging of a product is an actual customer order or release, rather than a market forecast. In order to be considered a Configure-to-Order environment, less than 20% of the value-added takes place after the receipt of the order or release, and virtually all necessary design and process documentation is available at time of order receipt.


Confirmation: With regards to EDI, a formal notice (by message or code) from a electronic mailbox system or EDI server indicating that a message sent to a trading partner has reached its intended mailbox or been retrieved by the addressee.


Confirming Order: A purchase order issued to a supplier, listing the goods or services and terms of an order placed orally or otherwise before the usual purchase document.


Conformance: An affirmative indication or judgment that a product or service has met the requirements of a relevant specification, contract, or regulation. Synonym: Compliance.


Consignee: The party to whom goods are shipped and delivered. The receiver of a freight shipment.


Consignment: 1) A shipment that is handled by a common carrier. 2) The process of a supplier placing goods at a customer location without receiving payment until after the goods are used or sold. Also see: Consignment Inventory


Consignment Inventory: 1) Goods or product that are paid for when they are sold by the reseller, not at the time they are shipped to the reseller. 2) Goods or products which are owned by the vendor until they are sold to the consumer.


Consignor: The party who originates a shipment of goods (shipper). The sender of a freight shipment, usually the seller.


Consolidation: Combining two or more shipments in order to realize lower transportation rates. Inbound consolidation from vendors is called make-bulk consolidation; outbound consolidation to customers is called break-bulk consolidation.


Consortium: A group of companies that work together to jointly produce a product, service, or project.


Constraint: A bottleneck, obstacle or planned control that limits throughput or the utilization of capacity.


Constraint Management: Using theory of constraints (TOC) to run a business. Often used by manufacturers. See theory of constraints.


Consumer Direct: An emerging retail channel involving the sale and shipment of goods directly to consumers, usually at their homes, with the sales often taking place through the Internet.


Consumer-Centric Database: Database with information about a retailer's individual consumers, used primarily for marketing and promotion.


Consuming the Forecast: The process of reducing the forecast by customer orders or other types of actual demands as they are received. The adjustments yield the value of the remaining forecast for each period.


Container: 1) A "box", typically ten to forty feet long, which is used primarily for ocean freight shipments. For travel to and from ports, containers are loaded onto truck chassisor on railroad flatcars. 2) The packaging, such as a carton, case, box, bucket, drum, bin, bottle, bundle, or bag, that an item is packed and shipped in.


Containerization: A shipment method in which commodities are placed in containers, and after initial loading, the commodities per se are not rehandled in shipment until they are unloaded at the destination.


Continuous Deal Pricing: An average of deal and non-deal prices available to distributors who do not take high-low deals. "Every Day Low Pricing" applied to the trade.


Continuous Flow Distribution (CFD): The streamlined pull of products in response to customer requirements while minimizing the total costs of distribution.


Continuous Improvement (CI): A structured measurement driven process that continually reviews and improves performance.


Continuous Process Improvement (CPI): A never-ending effort to expose and eliminate root causes of problems; small-step improvement as opposed to big-step improvement. Synonym: Continuous Improvement. Also see: Kaizen


Continuous Replenishment: Continuous Replenishment is the practice of partnering between distribution channel members that changes the traditional replenishment process from distributor-generated purchase orders, based on economic order quantities, to the replenishment of products based on actual and forecasted product demand.


Continuous Replenishment Planning (CRP): A program that triggers the manufacturing and movement of product through the supply chain when the identical product is purchased by an end user.


Continuous Replenishment Programs: (aka CR, CPR). The process by which generally a supplier determines replenishment orders using a retailers' inventory, forecast, and POs data. It's supposed to yield lower inventory investments and higher turns. Usually refers to warehouse replenishment rather than store replenishment.


Contract: An agreement between two or more competent persons or companies to perform or not to perform specific acts or services or to deliver merchandise. A contract may be oral or written. A purchase order, when accepted by a supplier, becomes a contract. Acceptance may be in writing or by performance, unless the purchase order requires acceptance in writing.


Contract Administration: Managing all aspects of a contract to guarantee that the contractor fulfills his obligations.


Contract Carrier: A carrier that does not serve the general public, but provides transportation for hire for one or a limited number of shippers under a specific contract.


Contribution: The difference between sales price and variable costs. Contribution is used to cover fixed costs and profits.


Contribution Margin: The remainder after all variable costs, including distribution processing, are subtracted from sales revenues.


Control Structure: The "begin" and "end" (header and trailer) segments for entities in EDI.


COO: Country of Origin


Co-packer: A contract co-packer produces goods and/or services for other companies, usually under the other company's label or name. Co-Packers are more frequently seen in CPG and Foods.


Core Competencies: The critical skills and knowledge a company has that add value for customers. Many firms seek world-class performance in competencies that differentiate them from competitors and often outsource non-core competencies.


Corporate Culture: A set of shared values about how things are done, what is important, what works, etc. It can help or hinder implementation of changes such as new systems or processes.


Corporate Traffic: Area responsible for Contract Carriers, Carrier Claims, freight payment, Lease Car department and Tab Tracing.


Correction Invoice: An invoice used to additional bill or issue credit to a store because of incorrect billing or pricing.


Cost Accounting: The branch of accounting that is concerned with recording and reporting business operating costs. It includes the reporting of costs by departments, activities, and products.


Cost Allocation: In accounting, the assignment of costs that cannot be directly related to production activities via more measurable means, e.g., assigning corporate expenses to different products via direct labour costs or hours.


Cost Centre: In accounting, a sub-unit in an organization that is responsible for costs.


Cost Management: The management and control of activities and drivers to calculate accurate product and service costs, improve business processes, eliminate waste, influence cost drivers, and plan operations. The resulting information will have utility in setting and evaluating an organization's strategies.


Cost Variance: In cost accounting, the difference between what has been budgeted for an activity and what it actually costs.


Cost, Insurance, Freight: A freight term indicating that the seller is responsible for cost, the marine insurance, and the freight charges on an ocean shipment of goods.


Council of Logistics Management (CLM): The CLM is a not- for-profit professional business organization consisting of individuals throughout the world who have interests and/or responsibilities in logistics and the related functions that make up the logistics profession. Its purpose is to enhance the development of the logistics profession through logistics professionals by providing them with educational opportunities and relevant information through a variety of programs, services, and activities.


CPFR: See Collaborative Planning, Forecasting, and Replenishment.


CPG: Consumer Packaged Goods: see also FMCG.


CPI: Characters Per Inch. See character density.


CPIO: Chief Process Improvement Officer


CPS: Characters Per Second. Refers to print speed.


CPT: Carriage Paid To


CPU: Central Processing Unit. A computer processor, generally the "main" chip that is the computer's "brain."


CR: Current Ratio


CR: Continuous Replenishment: a modification of QR (q.v.) which eliminates the need for replenishment orders - individual customer's purchases trigger manufacturing and distribution. See also AR and VMI.


Credit Authorization and EDC Utilities: Software integrated into a POs system to provide access to credit authorization, check authorization networks, and settlement banks.


Credit Scoring: Risk-assessment tool based on statistical analysis of credit users.


CRM: Customer Relationship Management


Cross Docking: A distribution system in which merchandise received at the warehouse or distribution centre is not put away, but instead is readied for shipment to retail stores. Cross docking requires close synchronization of all inbound and outbound shipment movements. By eliminating the put-away, storage and selection operations, it can significantly reduce distribution costs.


Cross-Shipment: Material flow activity where materials are shipped to customers from a secondary shipping point rather than from a preferred shipping point.


CRP: See Continuous Replenishment Programs.


CRP: Capacity Requirements Planning: the process of establishing, measuring and adjusting limits or levels of capacity - e.g. to determine the human and machine resources required for production. Also "Continuous Replenishment Programme" - customer-driven replenishment.


CRT: Cathode Ray Tube


CS: Customer Service


CSR: Corporate Social Responsibility:. Also 'Common Stock Room' and 'Customer Service Representative'.


C-Type Warehouse: A physical Customs Warehouse (i.e. where goods are not subject to excise duty) in which the warehouse keeper takes on full responsibility for the goods stored, or owns them. See also A, D, E.


Cube Utilization: In warehousing, a measurement of the utilization of the total storage capacity of a vehicle or warehouse.


Cubic Space: In warehousing, a measurement of space available or required in transportation and warehousing.


Cumulative Lead Time: The total time required to source components, build and ship a product.


Cumulative Source/Make Cycle Time: The cumulative internal and external lead time to manufacture shippable product, assuming that there is no inventory on-hand, no materials or parts on order, and no prior forecasts existing with suppliers. (An element of Total Supply Chain Response Time) Calculation: The critical path along the following elements: Total Sourcing Lead Time, Manufacturing Order Release to Start Manufacturing, To tal Manufacture Cycle Time (Make-to-Order, Engineer-to-Order, Configure/Package-to-Order) or Manufacture Cycle Time (Make-to-Stock), Complete Manufacture to Ship Time Note: Determined separately for Make-to-Order, Configure/Package-to-Order, Engineer-to-Order, and Make-to-Stock products


CUSDEC: Customs Declaration message.


Customer: 1) In VMI, the Trading Partner or reseller, i.e. Wal-Mart, Safeway, or CVS. 2) In Direct-to-Consumer, the end customer or user.


Customer Acquisition or Retention: The rate by which new customers are acquired, or existing customers are retained. A key selling point to potential marquis partners. Also see: Marquis Partner


Customer Driven: The end user, or customer, motivates what is produced or how it is delivered.


Customer Order: An order from a customer for a particular product or a number of products. It is often referred to as an actual demand to distinguish it from a forecasted demand.


Customer Relationship Management: A strategy designed to build customer loyalty by capturing and consolidating customer data from across an enterprise (and sometimes from outside sources) in a central database and enabling all associates who deal with customers to make effective use of that data and analysis of that data.


Customer-Supplier Partnership: A long-term relationship between a buyer and a supplier characterized by teamwork and mutual confidence. The supplier is considered an extension of the buyer's organization. The partnership is based on several commitments. The buyer provides long-term contracts and uses fewer suppliers. The supplier implements quality assurance processes so that incoming inspection can be minimized. The supplier also helps the buyer reduce costs and improve product and process designs.

Customs Brokerage ‚ A company who is responsible for handling customs clearances and


Customs House Broker: A business firm that oversees the movement of international shipments through customs and ensures that the documentation accompanying a shipment is complete and accurate.


CV: Commercial Vehicle: a truck.


CVO: Commercial Vehicle Operations


CWO: Cash With Order-see also COD.


CY: Container Yard-storage for containers in transit (often at a port).


Cycle Counting: An inventory accuracy audit technique where inventory is counted on a cyclic schedule rather than once a year. A cycle inventory count is usually taken on a regular, defined basis (often more frequently for high- value or fast-moving items and less frequently for low value or slow- moving items). Most effective cycle counting systems require the counting of a certain number of items every workday with each item counted at a prescribed frequency. The key purpose of cycle counting is to identify items in error, thus triggering research, identification, and elimination of the cause of the errors.


Cycle Counts: A way of physically counting/verifying inventory levels in sections of a store or DC, usually more efficiently than other methods.


Cycle Time: The amount of time it takes to complete a business process.


Cycle Time to Process Excess Product Returns for Resale: The total time to process goods returned as Excess by customer or distribution centres, in preparation for resale. This cycle time includes the time a Return Product Authorization (RPA) is created to the time the RPA is approved, from Product Available for Pickup to Product Received and from Product Receipt to Product Available for use.


Cycle Time to Process Obsolete and End-of-Life Product Returns for Disposal: The total time to process goods returned as Obsolete & End of Life to actual Disposal. This cycle time includes the time a Return Product Authorization (RPA) is created to the time the RPA is approved, from Product Available for Pickup to Product Received and from Product Receipt to Product Disposal/Recycle.


Cycle Time to Repair or Refurbish Returns for Use: The total time to process goods returned for repair or refurbishing. This cycle time includes the time a Return Product Authorization (RPA) is created to the time the RPA is approved, from Product Available for Pickup to Product Received, from Product Receipt to Product Repair/Refurbish begin, and from Product Repair/Refurbish begin to Product Available for use.


Cyclical Demand: A situation where demand patterns for a product run in cycles driven by seasonality or other predictable factors.

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