VIDEO TRANSCRIPTION
Business English - Learn with Business English Pod
VV 30 - Business English Vocabulary for Supply Chain Management 1 | English for Logistics
Description generated by Skrybot
The text discusses supply chain management, logistics, and the flow of goods from suppliers to manufacturers, distributors, retailers, and consumers. It emphasizes the importance of efficient processes, communication, and tracking in the supply chain. Additionally, it touches on the roles of suppliers, manufacturers, distributors, retailers, and consumers in the overall process.
Transcription generated by Skrybot
Here's your chance to win a new iPad from Business English Pod to celebrate our 6th anniversary. We're giving away a 32MB iPad 3 to one of our lucky premium members. All you have to do is sign up for a new premium membership or renew your existing membership and you'll be entered into our July 18th sweepstakes for a new iPad. Head over to businessenglishpod. com to get started. When we think of supply chain management, we usually think of logistics. But supply chain management is about more than just shipping goods from point A to point B. In this lesson, we'll look at the basic steps in the supply chain, beginning with suppliers who sell materials or parts to the manufacturers that assemble products.
The products then go to distributors, who transport them to retailers. where they are then sold to consumers or end users. Supply Chain Supply Chain A supply chain is the entire network of businesses involved in providing goods or services to a customer. This includes all the processes related to the creation, storage, and movement of a product. The supply chain for gasoline begins with extracting oil from the ground and ends with the gas sold at the pump. Logistics Logistics Logistics is the process of managing the flow and storage of materials, goods, information and capital. Good planning and communication is essential to good logistics. Our logistics department has a sophisticated system for tracking materials through the supply chain. Shipping Shipping is the movement of goods and cargo, either by land, air or sea.
We offer customers different shipping options with different delivery speeds and costs. Supplier A supplier is a business that provides goods or services to other businesses in a supply chain. A manufacturer usually relies on several or even hundreds of different suppliers. Gorman Motors is looking for a new supplier for the electrical components of its trucks. Materials Raw materials Materials are the physical items that a supplier provides to other businesses. These materials could be raw resources such as oil or manufactured parts. such as computer chips. The high cost of materials has slowed down the construction sector in the last few years. manufacturer A manufacturer uses machines, tools and labor to transform materials into goods. The goods might be for use by consumers or as parts of a more complex product.
Boeing is one of the largest manufacturers of airplanes in the world. Distributor A distributor buys products from manufacturers and then resells them. to retailers. A distributor is like a middleman between the producers and the consumers. The Canadian paper company found a European distributor for their speciality products. retailer retailer A retailer is a business that sells products directly to customers or end users. Traditional retailers are complaining about online retailers stealing their customers. Consumer In economics The consumer is the one who uses a good or service that has been produced. Consumers are the final link in the supply chain. After the economic crisis, consumers showed a lack of confidence by saving rather than spending. Now it's your turn to practice some of the words we have studied in this episode.
You'll hear a series of sentences with a word replaced with a beep. Repeat the whole sentence, including the missing word. For example, if you hear, We offer free on orders to customers in North America. You can say, We offer free shipping on orders to customers in North America. We'll play the correct answer after each question. Ready? Let's give it a go. Samsung is very successful because they understand preferences. Answer. Samsung is very successful because they understand consumer preferences. General Electric is one of the largest companies in the world. Answer. General Electric is one of the largest manufacturing companies in the world. Walmart is so successful that smaller find it hard to compete. Answer. Walmart is so successful that smaller retailers find it hard to compete.
Large shipping companies such as TNT and FedEx provide a complete. . . Solution. Answer. Large shipping companies such as TNT and FedEx provide a complete logistics solution. That's all for this episode of Video Vocab. Be sure to check out our website at www. dot video vocab dot TV for more videos on business English vocabulary thanks for watching and see you again soon.
S K R Y B O T
Skrybot. 2023, Video transcriptions from YouTube
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