Gazi Sanaul Hasan

Definition:   An arrangement between a business and the manufacturer or distributor of a product the business wishes to sell in which the manufacturer or distributor and not the business ships the product to the business's customers. Drop shipping is a supply chain management model in which online retailers partner with wholesale suppliers to directly fulfill online orders. Instead of keeping their own product inventory, e-commerce retailers transfer customer orders and shipping information to the dropship wholesaler, who then ships the goods directly to the customer. Online retailers often hide that a wholesaler is shipping their product. Dropshipping wholesalers will often include customized packing slips with company name, logo, and contact information to make it look like the retailer fulfilled the order to align with the company’s branding. Dropshipping Companies Alibaba Salehoo Doba  Is Dropshipping Worth It? Like most aspects of e-commerce, drops...

Procurement word   the action of obtaining or procuring something. “ Procurement   refers to the participation in the development of requirements and their specifications managing value analysis activities conducting supply market research; managing supplier negotiations conducting traditional buying activities administering purchase contracts; managing supplier quality buying inbound transportation.   -  from purchasing and Materials Management Text and Cases by Donald Dobler Steps of the Procurement Cycle Need Recognition Specific Need Source Options Price and Terms Purchase Order Delivery Expediting Receipt and Inspection of Purchases Invoice Approval and Payment Record Maintenance Supply Chain    “consists of everybody involved in getting your product into the hands of a customer. It includes raw material gatherers, manufacturers, transportation companies, wholesale warehouses, in-house...