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Merchandising and Trading

COMMODITY kəˈmɒdɪti

22 Nov 2023

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

31 Oct 2023

Noun

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

UNIT COST yunɪt kɔst

30 Oct 2023

Noun

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

SURPLUS sɜrplʌs

29 Oct 2023

Noun

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

TARIFF tærɪf

14 Sep 2023

Noun

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

QUOTA kwoʊtə

01 Sep 2023

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

20 Apr 2023

Noun

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

OUTSOURCE (SOMETHING)  

04 Feb 2023

Phrase

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

TIER-ONE SUPPLIER  

17 Sep 2022

Noun

  • supplier that stands high on a company's chain of suppliers and is usually in a direct contact with the client.
Example Sentence: Our company is a tier-one supplier of one of the biggest car manufacturers in Japan – we produce their tyres.
 

RETAIL CHAIN riteɪl tʃeɪn

08 Aug 2022

Noun

  • a number of similar shops or stores that sell products to the public.
Example Sentence: We have only one retail chain in our town. I've never liked them – the choice of dairy products on offer is really poor. I think some competition would do them good.
 

RETAIL riteɪl

18 Jul 2022

Adjective

  • related to the selling of goods in small quantities (e.g. in a store).
Example Sentence: The retail price was reduced by 30% after the holidays.
 

ORDER BACKLOG /ôr′dər bak lôg′/

06 Jan 2022

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/

04 Jan 2022

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/

02 Jan 2022

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/

01 Jan 2022

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.
 
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