In this second installment of MVA’s Supply Chain series on tariffs, we examine a fundamental question in the determination of ...

Because an egg wears many hats, it means that substituting it isn't so straightforward. It's not as easy as swapping light ...

COGS, an acronym for Cost of Goods Sold, represents the direct costs associated with the production of goods that a company sells during a specific period. It encompasses expenses like raw ...

A constitution is the rule book for a state. It sets out the fundamental principles by which the state is governed. It describes the main institutions of the state, and defines the relationship ...

Inflation measures how much more expensive a set of goods and services has become over a certain period, usually a year It may be one of the most familiar words in economics. Inflation has plunged ...

These goods fall out of favor when incomes and the economy improve, as consumers begin buying more costly substitutes instead. When incomes are low and/or the economy contracts, inferior goods ...

Remember to remind them to issue a credit note if the goods are not being replaced with the same item at the same cost. If the supplier is providing substitute goods then a new PO must be created as ...

The Threat of Substitution refers to the likelihood that customers might switch to a different product or service. When substitution threats are high, businesses are vulnerable to sudden shifts in ...

While a bit milder than cumin, caraway still makes an excellent substitute. A good general rule is that caraway seeds should substitute for cumin seeds, while ground caraway should replace the ...