| A | B |
|---|
| Purchase situations | Three types of THESE include: new task purchases, modified rebuy, and straight rebuy. |
| Master Schedule | A purchasing manager must review THIS for details of production needed to meet sales |
| extra dating | Buyers can be encouraged to purchase new merchandise by offering extended times to pay called THIS |
| Buyer | THIS person evaluate want slips to determine if requests are warranted. |
| Centralized | A national chain engages in THIS kind of buying in order to save money and present a unified image to its customers. |
| Production Planning | Materials requirement planning for industrial markets is part of THIS overall business activity? |
| Straight Rebuy | Type of purchasing situation that a regularly ordered staple goods from a familiar vendor is |
| $480 | What are this year's planned reductions if you are planning for a 4 percent reduction from last year’s figure of $500 |
| 2 | ABC store had $75,000 in sales during January and its BOM stock inventory was $150,000. What is the stock-to-sales ratio? |
| Planned sales | Figure that is the basis for all other sales projection figures in a merchandise plan |
| buyer | Job title for someone who purchases items for the chain of five stores that they work for |
| Reverse | An auction where a Manufacturer posts an ad on the Internet for purchasing custom products that they want to purchase and then several suppliers bid for the contract |
| $5,000 | What is the Open to Buy (OTB) if planned purchases are $10,000 and amount of merchandise received is $2,000 and merchandise ordered is $3,000 |
| $150,000 | If last year's sale were $25,000 and the BOM stock was $125,000 & you're using the SAME stock to sales ratio this year...If the sales are $30,000 what is the BOM? |
| September | The BOM stock figure for October is the EOM stock figure for what month? |
| $6350 | IF EOM stock figure is $7,000, its planned sales are $4,500, its BOM stock figure is $5,500, and its planned reductions are $350. What is the store’s planned purchases |
| want slip | If a store that does not currently stock an item may issue THIS indicating a customer’s request. |
| sweatshops | Factories in which employees are neglected and working conditions are very poor |
| $32,500 | What is BOM stock figure for April if a store has planned sales for April of $13,000, and its stock-to-sales ratio is 2.5 |
| EOM stock figure | the amount of inventory a store has at month’s end |
| open-to-buy | amount of money a retailer has left for buying goods after considering purchases |
| organizational buying | purchase goods for business purposes |
| modified rebuy | requires a buyer to do investigate new vendors |
| decentralized buying | retail decisions are made at lower levels of organization |
| consignment buying | goods are paid for only after the final customer purchases them. |
| memorandum buying | supplier takes back any unsold goods by pre-established date |
| purchasing manager | procures goods used in service and manufacturing businesses |
| discounts | any reductions from quoted price |
| planned reduction | loss of merchandise and revenue due to price reductions and theft |
