Private Limited Company (Plc)

TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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The basic concept of a Private Limited Company is that the business is separated from the owners and control it independently. In the United Kingdom limited company has to be registered by order of the Secretary of State through the Companies Office. Private companies are restricted from making regular public offerings. In United States limited company can be created without going through public offering process and in some cases company formation may not be required if a person or an entity already has a "seed investment" held for five years or more.

Technology applications which have facilitated improved supply chain management have been the Intranets, E-mail, Extranets, electronic data interchange (EDI), and recently connecting of ERP system to BIB intermediary stations orexchanges. Rental limited company, Timber frame limited company, and The groomed hogs company are just some examples of small manufacturing businesses which have taken advantage of the technology in the supply chain management. The evolution of manufacturing has been the result of technology applications. As a manufacturing enterprise restructures itself to improve efficiencies, sometimes it is the response to technology that facilitates a change for the better, in this case improving quality, lowering costs or meeting customer demands. For example, with the advent of computerization the manufacturing sector has taken on increased levels of productivity and efficiency, reduced costs and decreased the amount of errors and waste that had previously characterized the manufacturing process.

Aspects of e-business include lower cost of production, higher rate of throughput, ability to outsource or contract out work as well as increased profitability due to better customer service. The introduction of Internet and online shopping has made it easier than ever before to find suppliers and products at a lower cost. The Internet has made it possible to provide better service by saving money on travel and eliminating many of the traditionally costly overheads. There are a number of supplier selection and analysis tools available online to help business owners select their supplier partners. Supply chain management software is also available as a hosted solution from many of the providers who make it available.

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