GLOSSARY

Franchise


Franchising is the practice of leasing for a prescribed period of time the right to use a firm\\\'s successful business model and brand. Brand is soul of any franchising - where brand owner or franchisor allows an operative or franchise to use the brand and business model. In terms of distribution, the franchisor is a supplier who allows an operator, or a franchisee, to use the supplier\\\'s trademark and distribute the supplier\\\'s goods. In return, the operator pays the supplier a fee

Legacy System


Usually implies an old or outdated business computer/information system, often used to describe home-grown (custom built) mainframe systems. Software companies use the term to define any system that is not based on the current version of a business software package.

Lot


Also known as Minimum Order Quantity (MOQ) - it represents the quantity of an item one orders for delivery. In wholesale business, products are sold in lots. Buyers have to order products in multiples of lots, minimum order size being one lot.

Multimodal


Multimodal is kind of logistics arrangement where a single shipment uses uses two or more forms of transportation via a single contract (bill of lading). For example a combination of truck and rail, or truck and ocean freight.

Pallet


A storage and warehouse term, pallet means a portable platform designed to allow a forklift or pallet jack to lift, move, and store various loads. Most pallets are made from wood, but pallets are also made from plastic, steel, and even paper-based materials.

PCD


PCD stands for Propaganda cum Distribution. Usually associated with pharma marketing - PCD companies act as a franchise for a pharma manufacturer, promoting and selling products of their principals in given territory. To become a PCD pharma franchise of a company, one must have a valid drug license. Drug Licenses are available from office of nearest drug controller. Apart from the drug license, you also need a valid TIN (sales tax number), capacity of minimum purchase per month, and no one should have monopoly rights in the area where you are looking for your franchise.

Pro Forma Invoice


Sort of draft invoice created to show a buyer what the details of the actual invoice will look like. Pro forma invoices are commonly used in pre-sale negotiation to provide buyer with information they will need to pay for ordered goods or service.

Retail Chain


Group or chain of retail outlets owned by one firm and spread nationwide or worldwide. Examples of retail chains are Walmart, Big Bazaar, K-Mart etc. Retail chains usually have similar architecture, store design and layout. Products sold by a chain is usually sourced by a central office directly from producer/manufacturer and stored in its own warehouse and cold storage. Elimination of middlemen results in cheaper prices - benefiting consumer

Retailer


Retailer or shop-keeper is a business or individual selling goods to consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business. Retailer is the last entity in supply chain, interacting directly with consumers.

RFID


Radio Frequency Identification refers to an inventory management system where every object carries a chip (inserted into a label on a package) that transmits a radio signal. RFID receivers catch the radio signal to identify and count number of objects in an automated system. RFID has advantages over bar codes, ensuring very fast and reliable data capture, ability to hold more data, the ability to change the stored data as processing occurs, does not require line-of-site to transfer data and is very effective in harsh environments where bar code labels won\'t work.


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