Chapter 5-7 Trivia Flashcards
Discounts
Quantity, volume, prime-vendor, cash, promotional, forklift, user, introductory, trade-show, freight-damaged, odd-hours, and proprietary-brand.
Trade-out (bartering)
Bartering your goods and services instead of paying cash.
Co-op buying
The banding together of several small operations in order to consolidate their buying power
Product categories
Perishable, center-plate, and everything else.
Contact vendors
Online, telephone, in person, will-call buying, standing order, farmers market, and auctions
Will-call buying
The buyer pick up merchandise from the vendors location
Standing order
A route salesperson shows up and takes inventory of what you have and then restocks enough products to bring you up to par stock
Par stock
Maximum amount of product you want to have in hand
Reorder point
The minimum amount of stock before reordering
Purchase requisition
Lists the products or services needed by someone in the restaurant operation
Stock requisition
A formal request made by an employee for items needed to carry out necessary tasks
Inventory control rule one
The value of your food inventory should not exceed one weeks food cost
Inventory control rule 2
Your total inventory should not exceed one percent of your annual sales revenue
Inventory control rule 3
The food inventory should not exceed one-third of the monthly food cost
Kickback
An illegal gift given by a vendor to someone if they will agree to help defraud the restaurant
