purchasing and inventory control terms
the person who buys the merchandise in the store
the buyer
assigning workers to jobs within a business
staffing
paying sales associates to interact with customers
personal selling
the process of converting resources into goods and services
operations management
the money a business charges for items it sells
price
a business in which a buyer purchases merchandise from
vendor
the number of workers assigned to jobs at a particular time
staffing level
communication to customers paid for by a buisness
advertising
designing procedures and systems within a business
process design
the money a business pays to purchase items it sells
cost
the total amount of goods a buissnes has including the goods in the back room on sales floor
inventory
when there is not enough workers to handle the customers
understaffing
an insert into a magazine or newspaper that typically contains product graphics and special offers
circular
the methods required to achieve goals for a given initiative within a business
project planning
revenue minus expenses
profit
often used for the term inventory
stock
when there are too many workers to handle the customers
overstaffing
communication used by a business to convince potential customers to buy its merchandise instead of buying from a competitor
product promotion
people, parts and processes involved in getting products from suppliers to manufactures, and finally to customers
supply chain
the retail price minus the cost of an item
margin dollars
the vendors bill for stock purchased
invoice
a fixed amount of money paid to an employee
salary
positive communication a business has with its customers
promotion
a graphical representation of a system within a business
process flowchart
the amount of an item to sell and the willingness of a market to buy that item
supply and demand