Freight term in which the seller pays freight charges. Buyer is responsible for goods in transit.
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Force Majeure (French for "superior force") is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance...
Based on an article written on the effects of unregulated grazing on common land, a free rider problem occurs when those who benefit from resources, goods, or services do not pay for them, which...
International trade free from government interference, especially trade free from tariffs or duties on imports.
An associate who specialize buying the same material or service across multiple business units, and are generally assigned to manage the spend for a specific commodity or service across multiple...
A monetary incentive where a buyer and supplier share in costs savings. The focus is on driving out costs that are of limited value and sharing the costs savings. The concept provides an incentive...
A branch of applied mathematics that is used in the social sciences, most notably in economics, as well as in biology, engineering, political science, international relations, computer science,...
The Service Quality Model, also known as the Gap Model, was developed in 1985. It highlights the main requirements for delivering a high level of service quality by identifying five ‘gaps'...
Refers to a formula that defines the asset allocation mix of a target date fund, based on the number of years to the target date. The Glidepath creates an asset allocation that becomes more...
GBS is an evolution of the shared services model that goes beyond transactional functions to deliver higher-value work. GBS leverages global opportunities across multiple locations and manages...