"the process of contracting with the most suitable expert third party service provider" It is the operational transfer of one or more business processes from an origin company to an external provider who then becomes accountable for the outcome of the agreed tasks.

is an organization's use of third-party businesses to outsource elements of its distribution, warehousing, and fulfilment services

Is a strategy whereby a company owns or controls its suppliers, distributors or retail locations to control its value or supply chain. It benefits companies by allowing them to control process, reduce costs and improve efficiencies.

The traditional participants in supply chains are

broad array of Internet-based services providing a range of systems capabilities on a pay-as-you-go basis that previously required large investments in hardware and software

organized groupings of data stored in electronic format, and business analytics read the data in databases to produce reports and alerts

First functional area is composed of systems and technology that create high speed data capture and communications networks. We look at: The Internet Broadband EDI XML

The second functional area of an information system is composed of technology that stores and retrieves data.

The most common type of database uses what is called

store related groups of data in individual tables and provide for retrieval of data with the use of a standard language called structured query language (SQL)

The third functional area of an information system is

involves the broad range of tools and techniques used to conduct business in a paperless environment. Hence it comprises electronic data interchange, e-mail, electronic fund transfers, electronic publishing, image processing, electronic bulletin boards, shared databases and magnetic/optical data capture

involves the swapping of business documents in a standard format from computer-to-computer. It presents the capability as well as the practice of exchanging information between two companies electronically rather than the traditional form of mail, courier, & fax.

states the name of product along with its manufacturing, tracking the moving items like elements in PC assembly operations and automobiles in assembly plants.

defined as a store comprising all the databases. It is a centralized database that is prolonged independently from the production system database of a company.

is a business model that lets firms and individuals buy and sell things over the internet.

Kind of business or commercial transaction that includes sharing information across the internet

—Is the ability to share relevant information among companies in a supply chain. This includes data such as: sales history and demand forecasts; inventory status; production schedules; production capacities; sales promotions; and transportation schedules.

Refers to the joint participation of companies in a supply chain in the demand forecasting and inventory replenishment scheduling. It also includes the collaborative design, development, and bringing to market of new products.

is the streamlining and automation of ongoing business activities across companies in a given supply chain. This includes activities such as purchasing and product design.

Can emerge as a result of supply chain integration made possible by the Internet. Roles and responsibilities of companies in a supply chain can be redesigned so that each company can truly concentrate on the activities that are its core competencies.

refers to transactions take place between business and end-user consumers.

Refers to online transactions between business and other businesses.

Refers to erratic shifts in orders up and down the supply chain because of poor demand forecasting, price fluctuation, order batching, and rationing within the chain.

are upward or downward swings in the prices of products in an economy.

curs when each member takes order quantities it receives from its downstream customer and rounds up or down to suit production constraints such as equipment setup times or truckload quantities.The more members who conduct such rounding of order quantities, the more distortion occurs of the original quantities that were demanded.

is the automation of the purchase process (using specialized tools for the effect), in the access to suppliers catalogues in real time and having the Internet as the main communication channel.