Examlex
Nike's failed SCM implementation cost the firm over $100 million in lost sales, depressed stock prices, and caused class action lawsuits.
Accounts Payable
The liabilities a company has to its vendors or lending parties for products and services it has received but for which payment has not been made.
Net Method
A way of recording purchases or sales of goods that directly factors in any discounts or allowances at the time of the transaction.
Gross Method
An accounting method for recording purchases at the full invoice price without deducting any cash discounts offered.
Cash Discounts
A reduction in the amount owed by a customer if payment is made within a specified time frame.
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