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Supply Chain Glossary - S

Supply Chain Glossary - S

standard industrial classification (SIC) or SIC

Classification codes that are used to categorize companies into industry groupings.

1) The process of designing and altering products, parts, processes, and procedures to establish and use standard specifications for them and their components. 2) Reduction of the total numbers of parts and materials used and products, models, or grades produced. 3) The function of bringing a raw ingredient into standard (acceptable) range per the specification before introduction to the main process.


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