Purchasing and Material Management Glossary

A

• ABC analysis in Purchasing and Material Management
• ABC Classification in Purchasing and Material Management
• Asset management in Purchasing and Material Management

B

• Backordering in Purchasing and Material Management
• Best value procurement in Purchasing and Material Management
• Bill of materials (BOM) in Purchasing and Material Management
• Blanket order in Purchasing and Material Management
• Bottleneck analysis in Purchasing and Material Management

C

• Capacity planning in Purchasing and Material Management
• Capacity utilization in Purchasing and Material Management
• Carrying cost in Purchasing and Material Management
• Centralized purchasing in Purchasing and Material Management
• Competitive bidding in Purchasing and Material Management
• Consignment inventory in Purchasing and Material Management
• Contract management in Purchasing and Material Management
• Cost avoidance in Purchasing and Material Management
• Cost of goods sold (COGS) in Purchasing and Material Management
• Cost reduction in Purchasing and Material Management
• Cross-functional teams in Purchasing and Material Management
• Cycle counting in Purchasing and Material Management

D

• Demand forecasting in Purchasing and Material Management
• Demand management in Purchasing and Material Management
• Direct materials in Purchasing and Material Management
• Disposal management in Purchasing and Material Management
• Distribution in Purchasing and Material Management

E

• Economic order quantity (EOQ) in Purchasing and Material Management
• Economic value analysis in Purchasing and Material Management
• Electronic data interchange (EDI) in Purchasing and Material Management
• Emergency purchasing in Purchasing and Material Management
• Excess inventory in Purchasing and Material Management
• Expediting in Purchasing and Material Management

F

• First in, first out (FIFO) in Purchasing and Material Management
• Fixed order quantity (FOQ) in Purchasing and Material Management
• Foreign trade zones in Purchasing and Material Management
• Framework Order in Purchasing and Material Management
• Freight forwarding in Purchasing and Material Management

G

• Global sourcing in Purchasing and Material Management
• Goods Receipt in Purchasing and Material Management

H

• Hazardous materials management in Purchasing and Material Management

I

• Inbound logistics in Purchasing and Material Management
• Inspection in Purchasing and Material Management
• International shipping in Purchasing and Material Management
• Inventory control in Purchasing and Material Management
• Inventory turnover in Purchasing and Material Management
• Invoice Verification in Purchasing and Material Management

J

• Just-in-sequence (JIS) in Purchasing and Material Management
• Just-in-time (JIT) in Purchasing and Material Management

K

• Kanban in Purchasing and Material Management

L

• Lead time in Purchasing and Material Management
• Lean manufacturing in Purchasing and Material Management
• Logistics management in Purchasing and Material Management
• Lot size in Purchasing and Material Management

M

• Maintenance, repair, and operations (MRO) in Purchasing and Material Management
• Make or buy analysis in Purchasing and Material Management
• Material Group in Purchasing and Material Management
• Material handling in Purchasing and Material Management
• Material Master Record in Purchasing and Material Management
• Material requirement Planning (MRP) in Purchasing and Material Management
• Material requirements planning II (MRP II) in Purchasing and Material Management
• Materials requirements planning (MRP) in Purchasing and Material Management
• Minimum order quantity (MOQ) in Purchasing and Material Management
• Multi-sourcing in Purchasing and Material Management

N

• Negotiated procurement in Purchasing and Material Management
• Negotiation in Purchasing and Material Management

O

• Obsolescence management in Purchasing and Material Management
• Offshoring in Purchasing and Material Management
• On-time delivery in Purchasing and Material Management
• Order cycle time in Purchasing and Material Management
• Order processing in Purchasing and Material Management
• Outline Agreement in Purchasing and Material Management
• Outsourcing in Purchasing and Material Management
• Outsourcing logistics in Purchasing and Material Management

P

• Pack slip in Purchasing and Material Management
• Performance metrics in Purchasing and Material Management
• Perpetual inventory in Purchasing and Material Management
• Physical inventory in Purchasing and Material Management
• Plant in Purchasing and Material Management
• Point-of-use inventory in Purchasing and Material Management
• Price analysis in Purchasing and Material Management
• Price-quantity agreement in Purchasing and Material Management
• Procurement card (p-card) in Purchasing and Material Management
• Procurement in Purchasing and Material Management
• Product lifecycle management (PLM) in Purchasing and Material Management
• Production planning in Purchasing and Material Management
• Purchase order (PO) in Purchasing and Material Management
• Purchase price variance (PPV) in Purchasing and Material Management
• Purchase requisition (PR) in Purchasing and Material Management
• Purchasing Organization in Purchasing and Material Management

Q

• Quality assurance in Purchasing and Material Management
• Quality control in Purchasing and Material Management

R

• Receiving inspection in Purchasing and Material Management
• Release Strategy in Purchasing and Material Management
• Reorder point (ROP) in Purchasing and Material Management
• Replenishment Element in Purchasing and Material Management
• Replenishment in Purchasing and Material Management
• Return on investment (ROI) in Purchasing and Material Management
• Reverse logistics in Purchasing and Material Management

S

• Safety stock in Purchasing and Material Management
• Scheduling Agreement in Purchasing and Material Management
• Service level agreements (SLAs) in Purchasing and Material Management
• Service parts planning in Purchasing and Material Management
• Shipping and receiving in Purchasing and Material Management
• Single sourcing in Purchasing and Material Management
• Standard operating procedures (SOPs) in Purchasing and Material Management
• Stock Reservation in Purchasing and Material Management
• Stock Transfer in Purchasing and Material Management
• Storage Location in Purchasing and Material Management
• Supplier diversity in Purchasing and Material Management
• Supplier evaluation in Purchasing and Material Management
• Supplier relationship management (SRM) in Purchasing and Material Management
• Supply base reduction in Purchasing and Material Management
• Supply chain management in Purchasing and Material Management
• Supply chain optimization in Purchasing and Material Management
• Supply management in Purchasing and Material Management

T

• Tactical procurement in Purchasing and Material Management
• Total cost of ownership (TCO) in Purchasing and Material Management
• Total quality management (TQM) in Purchasing and Material Management
• Transportation management in Purchasing and Material Management

V

• Vendor Master in Purchasing and Material Management
• Vendor Master Record in Purchasing and Material Management
• Vendor selection in Purchasing and Material Management
• Vendor-managed inventory (VMI) in Purchasing and Material Management
• Virtual inventory in Purchasing and Material Management

W

• Warehousing in Purchasing and Material Management
• Warranty management in Purchasing and Material Management
• Work order management in Purchasing and Material Management
• Work-in-progress (WIP) in Purchasing and Material Management

Z

• Zero-based budgeting (ZBB) in Purchasing and Material Management