Explain the Components of Data Organization

question 51

Essay

Explain the components of data organization.

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Definitions:

Outsourcing

The business practice of hiring external vendors to perform tasks, handle operations, or provide services that are either difficult to manage or outside of the company's core competencies.

Logistics Function

The process of planning, executing, and controlling the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption to meet customer requirements.

Third Party

An entity involved in a transaction or process that is neither the primary nor secondary party, often providing intermediary services or products.

Supply Chain

The interconnected system comprising people, businesses, assets, processes, and technology that takes part in producing and distributing a good, from getting raw materials from the supplier to manufacturing, and finally to the consumer.