Common
A system in which most or all purchases are made by a purchasing director for the entire organization.
What is "Centralized Purchasing System"?
A process that involves blast-freezing food in individual pieces before packaging; mostly used with fish or fruit.
What is "individual quick frozen (IQF)"?
A vendor that offers a wide variety of products.
What is "broad-line vendor"?
A situation that occurs when a vendor does not have the products required to fill a purchaser's order.
What is "backorder"?
To perform activities that hasten the delivery of products that have been ordered but not yet received.
What is "expedite"?
The entire process of selecting, buying, and evaluating the products and services needed by the restaurant or foodservice operation.
What is "purchasing"?
The number of purchase units that should be available in inventory when an order is placed.
What is "order point"?
The customer's opinion of a product's value to him or her.
What is "value perception"?
A benefit an operation has that allows it to generate greater revenues or retain more customers than its competition.
What is "competitive advantage"?
The amount of money received from the sale of food and beverage products.
What is "revenue"?
An alternative position that is not the buyer's first choice in negotiations, but one that is acceptable.
What is "fall-back position"? (or Best Alternative to a Negotiated Agreement)
A document used to adjust information about product quantities or costs recorded on a delivery invoice.
What is "credit memo"?
A study that suggests whether a product should be prepared "from scratch" on-site, or purchased as a partially or fully processed item.
What is "make-or-buy analysis"?
A system in which a purchaser has a long-term commitment with a vendor to make frequent product deliveries.
What is "just-in-time (JIT) purchasing"?
A standard that is based on principles about what is right and wrong.
What is "moral"?
Decisions that determines which vendors will be asked to quote prices for needed products.
What is "vendor sourcing"?
Money of other gifts that are received by an employee in return for purchasing from a specific vendor.
What is "kickback"?
A coordinated system of businesses, people, activities, information, and resources that move products from the manufacturer, processor, or grower to an opration.
What is "supply chain"?
The pursuit of organization-wide quality, with emphasis placed on improving processes and procedures rather than identifying defects.
What is "total quality management"?
Guidelines that should be followed as purchasers implement purchasing procedures and make purchasing decisions.
What is "code of purchasing ethics"?
A step-by-step record that traces financial data to their source.
What is "audit trail"?
A job qualification legally judged reasonably necessary to safely or adequately perform a job.
What is "Bona Fide Occupational Qualification"?
A situation that occurs when a purchaser agrees to buy something from a vendor in return for some kind of business from the vendor.
What is "reciprocity"?
Charging different customers different prices for the same product such as, for example, giving a discount for purchasing larger quantities.
What is "differential pricing"?
A situation that occurs when some companies allow their employees to buy products purchased by the establishment for their personal use.
What is "steward sales"?