by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Business Process Outsourcing?Business process outsourcing is a method used by companies to subcontract other business entities to take responsibility for one of their activities that could otherwise be done internally. Sometimes the responsible company will...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Carriage and Insurance Paid (CIP)?According to a Carriage and Insurance Paid agreement, a seller must buy insurance for the risk which the buyer bears for losing or damaging the goods during foreign transport. CIP refers to an Incoterm wherein a seller...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Carriage Paid To (CPT)?CPT is one of the eleven standard foreign trade terms which the International Chamber of Commerce publishes. In a Carriage Paid To transaction, goods are delivered by the seller to the carrier or any other individual the seller chooses....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Cost, Insurance, and Freight (CIF)?Cost, Insurance and Freight (CIF), also known as “port of destination”, is a rule that makes the seller of a commodity pay for all costs and freight, including insurance against loss or damage. Once the goods are...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Collaborative Business Intelligence (CBI)?The term “collaborative” refers to an organized group of people who work towards achieving a common goal. Business intelligence, on the other hand, is defined as a process driven by technology that is used...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Intermediate Good?Intermediate goods refer to items or materials that are final products, but they can be used to process other consumer goods. Intermediate goods can be resold to manufacturers so that they can use them to produce other goods. A good...
