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Important Vocabulary

  • Subcontractor: Any company that provides goods or services for another one
  • Component: Any of the pieces or parts that make up a product, machine, etc.
  • Outsourcing or contracting out: Buying products or processed materials from other companies rather than manufacturing them
  • Capacity: The (maximum) rate of output that can be achieved from a production process
  • Plant: The buildings, machines, equipment, and other facilities used in the production process
  • Location: The geographical situation of a factory or other facility
  • Inventory: The stock of any item or resources used in an organization (including raw materials, parts, supplies, work in progress, and finished products)
  • Lead time: The time needed to perform an activity (i.e. to manufacture or deliver something)

Extracted From

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.

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Founder and Author at Superb Future. Babu is a student of Business specializing in Sales and Marketing Management. "Everyone is a marketer, whether you are a businessman or a homemaker."


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