Deck 23 Flashcards
(50 cards)
Agents
Intermediaries who bring buyers and sellers together and do not own the goods they sell
Allowance
A partial return of the sale price for merchandise that the customer has kept
Blind Check Method
The receiver of a delivery writes the description of the merchandise, counts the quantities received, and lists them on a blank form or dummy invoice
Bonded Warehouses
Public or private warehouses that store products requiring the payment of a federal tax
Budget Accounts
Accounts that allow the payment of a purchased item over a certain time period without a financial charge
Category Management
A process that involves managing product categories as individual business units
Collateral
Something of value that a person pledges as payment for a loan in case of a default
Contract Carries
For-hire trucking companies that provide equipment and drivers for specified routes
Cost Plus Tracking
All costs and expenses are calculated, and the desired profit is added to arrive at a price
Cycle Counts
Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores
Decentralized Buying
Local chain store managers or their designated buyers who are authorized to make special purchases for their individual stores
Direct Check Method
The merchandise is checked directly against the actual invoice or purchase order
Doing Business As Registration
The registration by which a county government officially recognizes that a new proprietorship or partnership exists
Dollar Control
The planning and monitoring of the total inventory investment that a business makes during a stated period of time
Embargo
A total ban on specific goods coming
Emotional Motive
A feeling experienced by a customer through association with a product
Empowerment
Encouragement of team members to contribute and take responsibility for the management process
Endless Chain Method
The process of asking previous customers for names of potential customers
Extensive Decision Making
The process used when there has been little or no previous experience with an item
Foreign Direct Investment
Investments in factories, offices, and other facilities in another country that are used for a business’s operations
Free-On-Board
The prices for goods includes delivery at the seller’s expense to a specific point and no further
Freight Forwarders
Private companies that combine less than carload or truckload shipments from several businesses and deliver them to their destinations
Horizontal Organization
A structure where top management shares decision making with self managing teams of workers who set their own goals and make their own decisions
Implied Warranty
A warranty that takes effect automatically by state law whenever a purchase is made
