BUS 1-6 Vocab

What is the process of categorizing, sorting, and transporting goods to their final destinations efficiently and inexpensively?

• Fleet Management

• Distribution

• Manufacturing

• Purchasing

Which term refers to managing vehicles over their useful life to ensure efficient operations and tracking?

• Logistics

• Transportation

• Fleet Management

• Operations

What is the sales revenue minus the cost of goods sold called?

• Gross Margin

• Net Profit

• Operating Income

• Revenue

What are resources like raw materials, labor, and machinery used to make goods and services called?

• Outputs

• Inputs

• Products

• Assets

What is the process of optimizing the flow of inputs and outputs until goods reach their final destination?

• Manufacturing

• Distribution

• Logistics

• Operations

What is the making of products from raw materials and other inputs like labor and tools called?

• Production

• Manufacturing

• Purchasing

• Distribution

What term describes using technology and assembly lines to make large quantities of the same product?

• Custom Production

• Mass Production

• Batch Production

• Lean Production

What is the daily functioning of an organization, including managing inputs and outputs, called?

• Operations

• Logistics

• Manufacturing

• Distribution

What is the end result of the process that uses inputs to make goods and services?

• Inputs

• Outputs

• Products

• Resources

What is the organized acquisition of goods and services on behalf of a business called?

• Distribution

• Purchasing

• Manufacturing

• Logistics