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Business

Business

Understanding Enterprise Resource Planning (ERP): Definition, and Examples

Enterprise resource planning (ERP) is a platform used by businesses to coordinate and manage the key elements of their operations.
Business

What's the Difference Between a Supply Chain and a Value Chain?

The process by which companies acquire raw materials, add value to them through production, manufacturing, and other processes to produce a finished product, and then sell the finished product to customers is referred to as the value chain.
Business

Backorder: Definition, Reasons, Example, vs. Out-of-Stock

A backorder is a purchase order for a good or service that cannot be fulfilled right away due to a shortage of stock.
Business

Internationalization: What It Is, Examples, and Advantages

The term "internationalization" refers to the process of creating products that can be easily modified or that are designed to meet the needs of consumers worldwide.
Business

LLC vs. S Corporation: What's the Difference?

The success of your business depends on the structure you choose.
Business

Understanding Fine Print

The phrase "fine print" refers to contract terms and conditions, disclosures, or other significant information that is found in footnotes or a supplemental document and is not presented in the main body of the document.
Business

Three Methods to Measure Business Risk

A company's potential risks can be examined in a variety of ways.
Business

Corporate Headquarters (HQ): Definition, Importance, and Example

The location of a company's executive management, key managerial, and support staff is known as its corporate headquarters (HQ).