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Spring LIA vocabulary set 2

AB
Regrouping functionInvolves rearranging the quantities and assortment of products as they move through the supply chain.
OSHAa U.S. federal agency that regulates workplaces to ensure the safety of workers
allocatingbreaking larger quantities into smaller quantities
ThroughputRefers to the amount of product entering and leaving a facility in a given time period
Field warehousinga facility temporarily established at the site of inventory; the warehouse assumes custody of the inventory and issues a receipt for it, which can then be used as collateral for a loan.
Supply ManagementA relational exchange approach involving a limited number of suppliers
reverse auctionsa buyer invites bids from multiple sellers, and the seller with the lowest bid is often awarded the business.
obsolete materialsrefer to materials that are not likely to ever be used by the organization that purchased it
Global procurementrefers to buying components and inputs anywhere in the world
kickbacksmoney paid after an exchange
Incoterms 2000terms of sale for international transaction that represent, from the seller's viewpoint, the different locations, or stages, of quoting a price to an overseas buyer
Nontarrif barrierrestrictions other than tariffs that are placed on imported products
Export management companyFirm that helps a domestic company become involved in foreign sales
cargo preferenceRequires a certain percentages of traffic to move on nations flag vessels
shipping conferenceCartels of all ocean vessel operators operating between carriers and trade areas


Business Educator
Tri-County High School
Wolcott, IN

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