General Business Administration 2024/2025 PDF

AGENDA S 1 INTRODUCTION 2 BASICS OF BUSINESS ADMINISTRATION 3 MATERIAL : 4 PRODUCTION 5 MARKETING 6 OBJECTIVES 7 MANAGEMENT 8 ORGANIZATION 9 HUMAN RESOURCES 10 FINANCING AND INVESTMENT 11 ACCOUNTING / CONTRO...

AGENDA S 1 INTRODUCTION 2 BASICS OF BUSINESS ADMINISTRATION 3 MATERIAL : 4 PRODUCTION 5 MARKETING 6 OBJECTIVES 7 MANAGEMENT 8 ORGANIZATION 9 HUMAN RESOURCES 10 FINANCING AND INVESTMENT 11 ACCOUNTING / CONTROLLING 12 MEGA TRENDS AND PERSPECTIVES 2 INTRODUCTION What? Objectives of the course “General Business Administration” - Understanding Business (Administration / Management) as a Science - Knowing the most relevant Corner Stones of Business Administration - Being able to understand a Company as an Organism - Preparing you for the Courses to come - Changing the own Perspective so far: Shifting from Customer to Producer Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 5  Sales-Verkauf Gründung Institution non profit Unternehmen Marketing-Werbung Gewinnerzielung Gewinnmaximierung Existenz sichern INTRODUCTION What? Finanzen & Kapital The operating institution (1/2) Money and equity markets Kaution/Gewinne Anzahlung , aktiv langfristige Einrichtung Equity (deposits / profits) Debt (credit / interest) Eigenkapital Schulden Beschaffungsmarkt Absatzmarkt Accounting and Controlling Menge mal Preis Sourcing müssen zur richtigen Zeit Ort sein Finance Market am richtigen - nicht fertiggestellte Ware Supplies Storage BTG Business to Government Vorräte/Lieferungen un- Materials Basic Sales and Government finished Assets factors marketing goods Betriebsmaschinen Vermögenswerte Pro- of the BTB Business to Business Operating duction products / Private Staff Storage services resources Mitarbeiter businesses z. B. Maschinen Dispo- finished made Liquidity sition goods BTC Business to Costumer Human Veranlagerung Households / = Geld was zur resources Verfügung steht Finance individuals Accounting and Controlling Goods Güterströme Taxes / fees / contributions Grants / subsidies Financing Geldströme Gebühren / Beitrag , Anteil Zuschüsse Subventionen / Zuschuss Financial information ↳ Zweckgebundener Zuschuss Government von einer Öffentlichen Hand Gewerbe & Erwerbssteuer (30 %) Staat bietet Infrastruktur Source(s): Based on Wöhe, 2002. Vorraussetzungen - rechtliche Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 8 Automobilhersteller- "just in time" Produktion INTRODUCTION What? The operating institution (2/2) Company Corporate management Sicherstellung der Existenz Management= Entscheidungen treffen Target system Corporate strategies Finanzmarkt Financial markets Financing and Financial, balance sheet Corporate controlling Investment and income statements Revenue Einnahmen Produktmarkt Costs Verkaufsmarkt Procurement Sales markets markets Material Production Marketing (Product goods / (Production factors) services) Güter & Dienstleistungen -Zu Corporate operational accounting Funktionen eines Unternehmens betriebliches Rechnungswesen Financing Goods Financial information Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 9 Der Dienstleistungsbereich in Deutschland heute rund drei viertel der Arbeitsplätze (Quelle BHWK del. 2 BASICS OF BUSINESS ADMINISTRATION Science History of BA Science Science and BA 11 SCIENCE Parameters of Science 1. Identification and increase of knowledge (research) - Qualitative understand it better Li I'm seeing suth. - describe it in an objective way - to ↳ for the Cuture - Quantitative ↳ ser of data (points) - D try to find structure /pattern =D increase your own knowledge ↳ from the past / present Vermittlung Erweiterung 2. Imparting and broadening knowledge (teaching) - Education / Training for jobs ↳ Seminare - Universities - In-company training ↳ Schulungen/Seminare Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 12 SCIENCE Business Administration and Science Characteristics of a science with four elements - We need all Y characteristics to identify a sience Mother sight (accounting there is also a financial / social.... side perspective : social ; Customer ; investor P for Business Administration scarce goods :  Focus on the economic side of the business Object of knowledge … Includes the economic principles and processes in the company limited  The decisions to be made on the use of scarce goods are regarded as the object of knowledge ~ moedan ressource (knapp (gelten) (Unterschied A distinction is made between theoretical and practical: Knowledge (erwerben  Theoretical knowledge objectives are characterized by the acquisition of knowledge weitergreifend im Allgemeinen - target  Practical focus on empirical decision-making processes and the development of new bases for decision-making -spezifisch mathematics / law IPsychology Be g..  Every science requires certain methods in order to achieve the specified goals. Methods  By its very nature, methodology is an interdisciplinary science ↳ verschiedene Methoden werden in BA genutzt weswegen , wir eine interdisziplinäre Wissenschaft sind  A system presents the knowledge gained in a context System  The context can represent cause-and-effect mechanisms, among other things knowledge gained-I put everything together think in systems -p cause & effect Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 13 SCIENCE Business Administration in the Context of Science The sciences overview Science Ideal sciences Real sciences I Logics Mathematics Methods Humanities Natural sciences Geisteswissenschaften you can experience Biology Chemistry Physics Social sciences Law Arts Languages Economic sciences Betriebswirtschaftslehre Political Business Sociology Psychology Economics sciences Volkswirtschaftslehre Administration ↳ at markets behaviour of groups looking ↳ looking at companys Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 14 HISTORY OF BA SCIENCE Main Steps of Development BA is a young science Antiquity Middle Ages Modern Times 19th Century 20th Century 400 B.C. Starting 1200 1650 onwards 1800 onwards 1900 onwards  Lively long-  Compatibility of  The state  Trade as an  Birth of modern distance trade economy and promotes trade industry business ! ↳ between countries > because taxes are good for states  Plato: Skepticism  Mercantilism  National - religion - was very important # earn money administration S towards the  Thomas  Maximization of economy (A.  First business pursuit of profit Isocialogy ( Aquinas: Just state wealth Smith) schools around ↑  Aristotle: Money price  Import duties  First industrial 1900 has no intrinsic  Prohibition of money means power can earn revolution  Business - I [ & freedom more (Verbot money value interest until the ofmake profit  Cheap labour administration C - state earns a lot money because of taxes Reformation exportv import X machines faster > - made producten easier & as independent not allowed to take interest it was if you lead someone money science since 1912 - young science Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 15  Applee ↳ vermarkler the one as the only product that has everything > so - it becomes a need SCIENCE AND BA Needs, Definitions, Principles (1/5) Maslow’s hierarchy of needs we buy stuff to satify fur needs (invidual it's your own desicion to achieve the needs to fulfill yourself > as a company you should know what needs your Selbstverwirklichung costumors have to understand them better ↳ sell & be more more products successful s thinking about doing a company in another country ↳ are my basic needs covered # there Wertschätzung t building relationships # Ansehen # # only if these needs are fulfilled you can think about the next Source(s): McLeod, S., Simply Psychology, 2018 Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 16 SCIENCE AND BA Needs, Definitions, Principles (1/5) Needs Maslow's pyramid of needs is a model developed by the psychologist Abraham Maslow (USA) to describe the motivation of people  Deficit and growth motives. Marketing Companies : araise a need costumers didn't know they have Notwendigkeit Wirtschaftlich necessity of economic Needs Means to satisfy needs activity and application fullfilled of the economic principle we buy stuff to satify fur needs (invidual The assumption is that people naturally strive for self-realization. streben However, deficit needs must first be satisfied. Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 17  SCIENCE AND BA Needs, Definitions, Principles (2/5) Kinds of individual economies  Producers (Private / Governmental) -F. e. clean water, Universities - Bundesdruckerei , Hospital , insurance, electricity Wasserwerk , company  Consumers (Private / Governmental) - streets (payed by raxes) What is a Company? (miro people working An many together strategy based on the market depending oncustomers... The company can be characterized as an open, dynamic, complex, autonomous, market-oriented, social system. L company always changeing I a ↳ is build the company it's all about people (no t... in a on my own government working company Principles: prevenue  Maximizing (maximal output should be achieved) > - costs  Minimizing (goal to be achieved with minimal input) & relationshin (  Optimizing (achieving maximum output with minimum input) - beides zu optimieren Königsdisziplin Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 18 SCIENCE AND BA Needs, Definitions, Principles (3/5) Effectiveness: -i doing something Efficiency: Wirkungsgrad - doing things right Wirkung ↳ productivity  Assessment of target achievement, i.e. the extent Ausmaßes to  Assessment Bewertung of the relationship between the Dienstleistung service which the planned targets have been achieved. provided and the use of resources.  Can be measured by efficiency and profitability.  Can be measured by productivity.  Doing the right things, i.e. performance effectiveness.  Doing things right, i.e. performance. that is Goods: Physical goods Non-physical goods -De g.. hospital , health care Services > e -.. information g Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 19  fi : SCIENCE AND BA Needs, Definitions, Principles (5/5) "The invisible hand of the market " Comparison of market economy and planned economy e.. North Korea g e.. g Germany Socialist centrally planned economy - better for the Capitalist market economy > - better for the companies Planwirtschaft people Planerfüllung  centralized control  control via the economic system  state ownership  private property  plan fulfilment government plan > - creales the  market regulates supply, demand and prices "The invisible hand of the marker" A Smith   -. without freedom of choice for companies - p the freedom of choice supply demand &  state ownership of the means of production  state and private ownership of the means of (including land and buildings) attention to the nature production (including land and buildings) pay more > no - competition Prerequisite for both economic systems:  Use of production factors Beachtung  Compliance with the principle of economic efficiency  Maintaining financial equilibrium (maintaining solvency) think about liquidity > money - Which system is the better system ? Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 20 > righ side (you need competition development) - to China comes from the left side and slide into the side SCIENCE AND BA Code of conduct of Business Administration Science Visible reality Value judgements form a jugdement after research Practically normative direction Companies as part of the observable reality companies from the  value judgments in the statement area are deliberately (relevant section of reality) perspective of psychology avoided try to understand a company Experience object of  it is not the task of the scientist to evaluate the ethical and Business administration social objectives pursued by companies  the objectives must be determined empirically and must companies from the not be derived from norms perspective of sociology vs. jugdment (without research) that fits your norm companies from the Normative evaluative direction perspective of …  value judgments in the area of statements are consciously demanded, although they elude scientific proof  overriding values (of the researcher) are incorporated into Object of knowledge of Business administration: the research statements as norms, as target ideas “Planned allocation of scarce resources to given needs” Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 21 3 MATERIAL Basics Procurement Storage 22 MATERIAL Basics Decision- and function-oriented overall model Company Constitutive decisions Location Legal form Cooperations Management Controlling, Organization, Human Resources Performance Research and Development, Logistics Real goods material Suppliers Procurement Production Nominal Customers (real goods ( goods Accounting / Finance Economy Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 23 MATERIAL Basics The object of materials management is Vertical integrated I need ? Where can I get them ? what goods do Endproduct 1 ~ the supply and Unfinished good 1 (Tier 1) the disposal of goods for all areas Component 1 (Tier 2) in accordance with the respective requirements Rau Material (Tier 3) * through procurement and get hom somone else through logistics. > - manages the storage + floating of the goods The terms merchandise management and procurement management are often used synonymously with materials management. Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 24 MATERIAL Basics Objects of materials management and kinds of material Materials Management Material Raw materials: Raw materials Raw materials are the main components of a Auxiliary materials company's products in terms of quantity Operating and/or value. materials Unfinished goods Logistics Auxiliary materials / supplies: Procurement Finished goods goods in the right place time at the Auxiliary materials are secondary components right of a company's products in terms of quantity Other goods and/or value. Information Operating materials / consumables: Human resources Operating materials are not incorporated into Assets the products of a company but are consumed directly or indirectly in their production. Services Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 25 MATERIAL Basics Objectives of the materials management Costs minimize Procurement costs - for employees Materials costs trade-off Logistics costs minmize > things brought into - another county Deadline compliance Time Output maximize Quality > - need to know when the product comes in optimize & now much time I have to work with if Throughput time Supply readiness time between ordering & getting the product > not good - a raw Right time, location, quantity, status-quo Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 26  Se just do what others want us to do fi production : MATERIAL ↑ Procurement Objectives of procurement: Ensuring the needs-based supply of those goods that are used in the operational provision of services need more than one supply if ↳ lower your risk e. g. lost ger's Strategically: Outsourcing decisions (make-or-buy) ↳ longherm supplier comes with high risk (if they fail / price only one (1 year ' Quantity of suppliers and locations ↓ to many suppliers are hard to coordinate cost of transport Operative: Planning of needs L short term I next week / next day (less than 1 year Planning of stocks Procurement politics Supplier politics Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 27 MATERIAL Procurement Requirements types and requirements planning in procurement Procurement planning - raw materials Sales Planning - auxiliary materials - other goods / services Production planning - unfinished goods - finished goods Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 28 MATERIAL Procurement Determination of requirements using the example of an automotive parts list Product Parts Parts Parts Primary need Secondary need Secondary need Secondary need 5 Wheel nut 4 Wheel 1 Rim 1 Landing Gear … 1 Floor Assembly Vehicle … Fahrwerk 1 Power Train Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 29  Akwelles -Wahl des Präsidenten 04 11 24.. L wenn Trump gewählt wird Binnenmarkt wird verstärkt - Folge : Europa/Deutschland/China ↳ Wirtschaftspolitik gegen China ↳ USA & China will das wir uns entscheiden Deutschland bezug mit - e er ~ Videos sind nicht Klausur relevant MATERIAL (Beschaffung) Procurement Deployment principles Single - only Procurement order it one time Stock Procurement Just in Time - Pe g. car. manufacturers /low/reduce procurement costs : #  Cheaper per product because  Lower / no storage facility > no / lower  Short storage times storage costs of higher quantities needed  Low capital lock-up + (building/handeling  No production delays  Relatively low procurement maintenance of  Lower storage costs < machinery  Wait for better prices costs s no risk of ageing = it when you need it ! you buy > less costs umbrella are not in the right fashion (leoprint) supplier handeling Me g..  Risk of ageing  No cheap purchasing times  Planning need is much higher  Risk of capital quality loss  No instant adaption of  Risk of supplier delays / I  Capital lock-up production quantities logistics delays  High storage costs Le fall / winter season.. umbrellas g are getting pricier in Z-Goods Y-Goods X-Goods Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 30 MATERIAL Procurement Cost trends as a function of order volumes Costs Total costs Storage costs : > place -handling Storage costs -control Optimum order Order costs Order costs : 3 > request for... (RFX) agreements : with suppliers order costs are decreasing if you buy more quantity transport > > -... because the Versandkosten get cheaper I so you can buy a better quality of the product -D the more products you produce the more the price for the storage increase Quantity ordered q Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 31 MATERIAL Storage Comparison of manual and automatic bearings MHD : Mindesthaltbarkeitsdatum best before dale ↑ Manual bearings Automatic bearings  Goods are brought to the man  Flexible space allocation  Storage of many articles, batches, MHD in a small space +  Fast removal of whole units  Short training times  Direct access to every segment Low personnel + deployment  Low forklift use  High picking performance Low picking error rate  Large proportion of picking time is spent on  Low inventory effort transportation (man to goods) and searching  Paperless communication  High personnel costs  Costs: forklift maintenance, repair of inventory I  High error rate  Space allocation is fixed  High inventory costs I  Service know-how required  High printing costs if no MDE  Costs: maintenance, spare parts MDE : mobile dara emply Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 32  - dafür gibt es ein Video MATERIAL Storage Barcode shapes B2C-products (supermarket , books, )... ~ thens of barcodes Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 33 MATERIAL Storage Schematic structure of a passive RFID system 3) Scanner Intermec UAP-2100 WAN/ Tag-Antenna WLAN / LAN RFID : Radio Controlled Identification 2) RFID- Antennas 4) Data procesing S 1) RFID-Tags Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 34  MATERIAL Storage regarding Pallets and containers cycle Commerce Challenges: Forwarding Returning empty containers for "filling“ Documenting and invoicing exchanges between the parties involved Identifying and sorting out defective containers Provision Balancing out stock fluctuations Industry Paletts depot Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 35 4 PRODUCTION Basics Organization Planning 36 PRODUCTION Basics Production management: The object of production management is the economic design and implementation of the transformation of existing production factors into products and internal services using production processes. Production as a transformation of input factors into marketable products / services: merchor nine Raw Material Auxiliary Material ~ Combination of input Products / Consumables factors Services Human Resources Input Production Output La in the right time for our sexilitys Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 37  ↑ increase ↓ decrease PRODUCTION Basics Objectives of production management Costs Production costs ↓ Manufacturing costs ↓ trade-off Time Output Deadline compliance ↑ Quantity ↑ Throughput time ↓ Quality ↑ p 37. C decreasing quality is also possible e.. IKEA g -Dacia Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 38 PRODUCTION Organization Depending on the run size and batch size, i.e. the number of identical products produced in succession, and whether or not the equipment is converted, there are different types of processes: - "anpassungsfähiger" Individual production Ship-building Serial production Trains , Sandwiches it's all about effcency MP Mass production high volume Cars manifactures Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 39 PRODUCTION Organization Shop floor manufacturing and assembly production step 1 production step 2 aroduction step 3 -der Prozess muss gesteuert werden (welche Maschine was macht Immovable equipment designed for similar operations is grouped together in so-called workshops The products are transported between the workshops according to the production sequence Frequently used for series production → Very flexible, very fail-safe → but high control effort, medium productivity Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 40 PRODUCTION Organization Floor production and assembly only one product (e.. Snickers g Fixed equipment designed for the production of a specific product is arranged one after the other according to the production sequence. High productivity of employees High inflexibility with regard to product types Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 41 PRODUCTION Organization Group production and assembly / series production Mixture of workshop and flow production Parts of production are combined into groups within the framework of flow production Flexibility advantages of workshop production are combined with productivity advantages of flow production Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 42 PRODUCTION Planning Differences between inventory management and production planning Inventory management Production planning Stock levels are planned so that an end product is We know the demand for the end product available in the optimum quantity We plan the production of intermediate products, The demand for the product is usually a forecast the input quantity of which depends on the end (historical values) product→ dependent demand → independent demand → dependent demand Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 43 PRODUCTION Planning Process of Production Planning development of markets a demands e Business Planning ↳ figures/volumes Aggregated Planning 1 to 2 years Manufacturing Resource Planning (also including other divisions) Master Production Scheduling quantity & time Capacity planning and consideration of changes Business planning Material Requirement Planning Orientation towards the value chain Hierarchical planning concept Process Planning Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 44  has to be planned - everything PRODUCTION Planning Dimensions of Aggregation Regarding: Time YEARS Hours / Seconds Regarding: Spatial COMPANY Machine Regarding: Factual FINANCIALS Process Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 45 ~P HA + Video PRODUCTION Planning Production control alternatives: Push vs Pull Push: Central control based on the bring-principle Pull: Decentral control based on the take-principle Order by Machine, Feedback, Approval ORDER ORDER ORDER ORDER Controller Material / Production Storage Production Storage Production Products Material / Production Production Production Product e.. g e.. g > Auromotive > FMCC > E-Commerce > Fashion > Custom Manufacturing > Pharma Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 46 5 MARKETING Basics Product Place Price Promotion 47 MARKETING Basics Problem solving process Monitoring functions 1. Analysis of the situation understand where you are 2. Definition of Marketing Objectives Controlling Planning C P 3. Definition of Marketing Strategy e.. g building up brand awaveness Management 4. Definition of Marketing Instruments P 5. Creation of Marketing Mix A D Assignment Decision 6. Implementation of Marketing Concept 7. Marketing Evaluation → The management of the general marketing problem-solving process, in particular the design and implementation of the marketing concept, is referred to as marketing management. Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 48 MARKETING Basics Sales market: All consumers to whom the company turns as actual and potential buyers of its products and services in order to induce them to purchase its services / products. Characteristics of a market Market Research Customer to understand his needs Object of purchase Initiator E Purchasing goals > - Maslow's hierachy of needs Influencer · Purchase influencer Decision maker > - (op Management) most important one of all S usually does all those things Purchase process Buyer Purchase causes User Purchase location Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 49 MARKETING Basics Market segmentation refers to the division of the overall market into homogeneous submarkets according to various criteria. Geographical Demographical segmentation segmentation  Region (e g politics)..  Age  Population density  Gender  Climate (e g. Choclale Africa. in  Size of the household  Language  Income Socio-psychological Behavioral segmentation segmentation  Generally  Personality  With regard to products / services  Social class Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 50 MARKETING Product Product ideas – idea selection: Depending on several questions Is a product interesting How high is the risk involved primary because of economic in manufacturing this reasons? product? Does the new product fit in Is the idea technically the existing product portfolio? realizable? What is the performance capacity of your own company? Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 51 MARKETING Product Product development comprises the technical, market and production-oriented activities of the research and development department of an industrial company in order to create new or improved products or processes. Development Definition of potential product / process Product idea: Research Constructure development Idea search Product launch Idea Prototyping Definition of concentration Marketing Tools / Tests Correction of Tools Idea selection Development Optimization suggestions Market surveys Production Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 52 MARKETING Product Product design: Before designing the product, the elements and dimensions that can be determined on the product must be considered. Functionality / Marketing Overview Service ability Functional safety > - Design Apple reduced , : design & function combined Product > - Packaging Japan wrapped : 3 times Operational safety 3 e.. g e-bikes Core Environ- Susceptability to failure mental Marking Impact - * brand syboml colours emotion towards , , Durability the product how long can I use it ? Value retention Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 53 MARKETING Product Product policy: design of a company's sales program in terms of type and quantity, as well as the additional services offered together with the product. Product policy Product Product Product Product Product (program) retention changes innovation elimination diversification software updates -* Apple ipod horizontal Variation buys another brand(same) e.. g Pringels : 1 product -tons of flavous o vertically Differentiation within the company > - producing a new product that has no relation to the o One. g. lateral Hochschule RheinMain – WBS – General Business Administration 2024 / 2025 54 MARKETING Place Distribution: design and control of the transfer of a product from the producer to the buyer. Distribution