Chapter 1 Intro to Purchasing Flashcards
Benchmarking
The search for the best practices and understanding how they are achieved.
Centralized purchasing system
In which most or all purchases are made by a purchasing director for the entire organization.
Competitive Advantage
A benefit an operation has that allows it to generate greater revenues or retain more customers than its competition.
Convenience Food
In which some or all of the labor required to prepare the item is “built in.”
Decentralized Purchasing System
Wherein all or most purchases are made by department heads or a designated employee in the department.
Delivery Invoice
Documents signed by a representative of the operation to transfer the product of ownership to the operation.
Distribution Channel
The organizations and individuals involved in the process of making a product or service available to an organization.
Franchisee
A party in a franchising agreement that the logo, name, system, and resources of a business for a fee.
Green Purchasing
Placing a priority on a products environmental impact.
Issuing
Transferring products from storage areas to departments so user staff can meet production needs.
Job Description
The tasks that a person working in a specific position must perform.
Job specification
Specific knowledge and skills required for a position.
Point-of-sale (POS) system
An electronic system that collects information about revenue, customer counts, item sales, and operating data.
Purchase Order (PO)
A document used to inform vendors that their prices for products of the specified quality and quantity for the RFP have been accepted and that the shipment should be delivered.
Purchasing
The process of selecting, buying, and evaluating the products and services needed by the restaurant or food service operations.
