by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the United Nations Standard Product and Services Classification (UNSPSC)?This United Nations Standard Product and Services Classification (UNSPSC) is a classification scheme that covers all types of goods and services that are used in the ecommerce industry....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Universal Product Code (UPC)?The Universal Product Code (UPC) is a type of barcode that is attached to every retail product sold in stores around the world. It is a twelve – digit product code for identification of every retail item, the barcode aids...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Scrum?Scrum refers to an agile framework used in the management of knowledge work in software development. This framework is designed for a team ranging from three to nine members who split their work into actions which can be finished within time-boxed...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What are Third-party Logistics?Third-party Logistics, also called 3PL or TPL, describes an approach that organizations or companies use in the distribution and provision of services. This approach entails the use of a third-party company in the distribution of goods...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Tier Structure?Tier refers to a series of rows or layers or a level or grade in the hierarchy of an organization or system. A tier structure describes a system with distinct levels or layers. In the arrangement of a tier system, one level must be completed...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Seasonality Forecast?In time series data, seasonality refers to the presence of variations which occur at certain regular intervals either on a weekly basis, monthly basis, or even quarterly (but never up to a year). Various factors may cause seasonality...
