Merchandising and Trading

ORDER BACKLOG /ôr′dər bak lôg′/

24 Sep 2019

phrase

  • Value of unfulfilled orders, or the number of unprocessed jobs, on a given day. While a backlog indicates the workload that is beyond the production capacity of a department or firm, it also serves as a pointer toward the firm's future sales revenue and earnings.
Example Sentences:We have an order backlog of about $670,000.
Due to a large order backlog, all orders are currently delayed by about two weeks.
 

CERTIFICATE OF ORIGIN /sər tif′i kit ʌv ôr′ə jin/

22 Sep 2019

phrase

  • A certificate stating the country in which a commodity has been grown, milled, produced, manufactured or assembled.
Example Sentences:According to the certificate of origin, this lamp shade was made in Thailand.
 

IMPORT LICENSE /ɪmˈpɔrt lahy-suh ns/

20 Sep 2019

phrase

  • An import license is a document issued by a national government authorizing the importation of certain goods into its territory.
Example Sentences:You won’t be able to import wood products into the country unless you have an import license to do so.
Although I had the correct import license, customs did not allow my shipment out of the port of entry.
 

CUSTOMS /kuhs-tuh mz/

19 Sep 2019

noun

  • Government agency entrusted with enforcement of laws and regulations to collect and protect import-revenues, and to regulate and document the flow of goods in and out of the country.
Example Sentences:I was searched by customs when I entered China on business last month.
Customs calculated that the necessary duty to be paid on the shipment was $9,560.
 

COMMODITY kəˈmɒdɪti

06 Jul 2019

Noun

  • something that can be bought or sold e.g. a resource or product.
Example Sentence: Primary commodities tend to be produced in poorer countries.
 

VOLUME vɒlyum

14 Jun 2019

Noun

  • the total amount of something.
Example Sentence: The volume of trade has dropped in recent months.
 

UNIT COST yunɪt kɔst

13 Jun 2019

Noun

  • the cost of producing one item of a product.
Example Sentence: The unit cost of the product is just $2.
 

SURPLUS sɜrplʌs

12 Jun 2019

Noun

  • extra money that was not spent.
Example Sentence: The surplus is due to the falling energy costs.
 

TARIFF tærɪf

28 Apr 2019

Noun

  • a tax on imports when they enter a country.
Example Sentence: They set high tariffs to protect their domestic car industry.
 

QUOTA kwoʊtə

16 Apr 2019

Noun

  • a limit set on the amount of imports which can come into a country.
Example Sentence: The country has set quotas on steel imports.
 

RETAIL OUTLET riteɪl aʊtlɛt

04 Dec 2018

Noun

  • a place where products are sold to the public.
Example Sentence: They have retail outlets all over America, Europe and Asia.
 

OUTSOURCE (SOMETHING)  

21 Sep 2018

Phrase

  • to use outside sources rather than those within a company.
Example Sentence: The manufacturing company outsourced many of their products.
 
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