Lot of us do business and feel that we are not able to communicate in a corporate style. So, we need to learn business English and use supply chain words. Today we will discuss these words and learning. To get business done, you will have to use the business language.
The business language can be different from one industry to another. However, when you talk about business, you should use some business English vocabulary.
If you are facing trouble learning these words then you can try out a course that can teach you these words easily. If needed you can try 線上課程 from AmazingTalker, they have native tutors on different languages. If you want to join the 線上英文 then just make an account on their website and start learning from today.
Learning Supply Chain Words
We can learn new words easily by joining a new industry or from a professional. Now we will go through some common supply chain words that will help us, also we will know more about them.
1. chip shortage
Chip shortage is a chips industry related word where it is shown that how much is the demand and supply of this item in the market. Also, it is related to both electronics and the Auto industry too.
The global chip market is driven by rising consumer demand for mobile phones, tablets and other smart electronic devices that increasingly rely on a complex array of electronic components that must be compact and reliable.
A major challenge facing the chip industry is that the demand for electronic devices is rising at an unprecedented pace, and is only growing faster.
Shipping is basically delivering products to the destination, we use this word a lot in supply chain. From product’s manufacturing to delivering to the market, it is called shipping and you will need it mostly everyday.
If you run a business, you will need to know the different types of shipping available. We use these kinds of services to ship our products to the consumers. Sometimes, you may want to ship some of the products to the customers and others to the warehouse.
However, if you are going to deliver your products to the customers, you must know about the different kinds of shipping options. These are just two examples.
3. demand will continue to outpace supply
Everything in business is related to demand and supply. Nothing is produced without knowing the demand, when there is demand those are supplied to the market. When there is more demand the price is high, if there is higher supply the price is less.
Economics is the study of human interaction and activities with markets and money. It teaches us about buying and selling.
In general, economics helps us understand the relationships among prices, income and employment. Economics helps us decide on a number of major issues in our lives, such as whether or not to invest in something and what kinds of investment are available.
4. supply chain
Supply chain is a system that runs our market, we have to find the demand and supply ratio and then can fix the price issues. From new business to older one, we have to understand the supply chain well to move on.
Business is always dynamic. It’s important to think about business in terms of supply and demand. There are so many different ways that people are supplying and consuming products and services, it can be a bit overwhelming.
This is because they don’t understand the supply chain. If you want to understand business, you should know how the supply chain works. A supply chain basically is a process that takes place between production and consumption.
Negotiation is a method that helps us to talk with the parties and settle any business deal. It is a process where two or more parties discuss and settle business transactions after a detailed discussion based on facts.
It is important to remain calm and think clearly so that you can understand and explain the problem to the other side. You should listen carefully when the other party speaks and avoid getting upset or annoyed.
You should also be able to say “yes” and “no” properly and keep an open mind. Negotiating requires a lot of patience and determination, but it pays off in the long run. Many people think that negotiation is boring and doesn’t really help anyone. But this is not true.
Budget is the costing of a product or service, that we set for our production or business. We need to fix our budget to buy something or to produce something. According to this method we can deal with the market too.
Also a budget is a plan or a set of instructions for the management of money. Sometimes you may even need to cut back on your spending or add some new expenses to the budget.
We have discussed some easy and regular terms used in the supply chain that will make your business and English more corporate focused. You can learn these from any business person, or do a course or can take a tutor to make you used to these terms. You have to use these terms to just make people not understand that, but also make your conversation more professional.
We all should develop our skills in corporate english. Supply chain industry is a place where we should all get involved and learn the new words to make our own place there. But it will help us to be more professional and make our business deal.
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