Procuring, Receiving, and Inventory Management Flashcards
Open-market buying
used by small FS; bid quotes via phone/fax
formal competitive bid buying
specs are written and submitted to vendors so they may bid, usually sealed and opened on a certain date; clearly written with little misunderstanding regarding quality, price; time consuming
fixed bid
price does not change during time period of the contract; usually used for large amounts
daily bid
bids may vary based on supply and fluctuation of goods
specifications
describes the product being purchased; may include grade, frozen/frozen, amount, etc.
USDA grades
US Grade No.1 = wholesale fresh fruit and vegetables
US Grade A = canned, frozen, dried fruits/vegetable
USDA Grade A = eggs
USDA Prime, Choice, Select = beef grades (fat, juiciness, tenderness)
No. 10 can
12-13 cups or 96-117 oz.
No. 3 cyl can
5 3/4 cups or 51 oz. or 46 fl oz.
No. 2 1/2 can
3 1/2 cups or 26-30 oz.
No. 2 can
2 1/2 cups or 20 oz. or 18 fl. oz
Prime vendor
agreement with single vendor to purchase majority of goods or product needs
Group purchasing
independent foodservices with similar needs join to purchase together to receive increased choices and cost reductions due to large purchasing volume
Centralized
appointed purchasing office buys goods for organization as a whole
Centralized
appointed purchasing office buys goods for organization as a whole
Independent
all department in the organization buy goods for themselves
Just in time
purchase as needed for production w/out having to store products
Type A Contract (exclusive)
buyer agrees to purchase from only one vendor/sellers generally for a specific period of time
Type B Contract (partially exclusive)
buyer agrees to purchase from one vendor unless insubstantial supply then allowed to go to another vendor
Type C Contract (open)
buyer may purchase with any vendor
Dual A Contract
similar to type A contract but buyer is able to purchase from 2 vendor
Primary vendor
majority of goods are supplied by one vendor
Procurement decisions: product selections
based on equipment, staffing, budget, etc.
Procurement decisions: cost analysis
categorizes cost to evaluate marketing activities and cost effectiveness of the current marketing activities
Blind receiving
clerk uses a record form, which quantities are blocked out to record items actually delivered; good security measure to ensure products are checked in and documented accurately
