Supply Chain Glossary - C

Supply Chain Glossary - C

consideration

In contract law, an obligation that is to the detriment of one party (promisee) or to the benefit of the other party (promisor).

Inventories, generally of finished goods, that are in the possession of customers, dealers, agents, and so on, but remain the property of the manufacturer by agreement with those in possession. Syn: consignment inventory, vendor-owned inventory. See: consignment.


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