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Purchasing > Midterm Vocab > Flashcards

Midterm Vocab Flashcards

0
Q

Vendor

A

A company, usually local, that sells products and services to the restaurant community. It typically purchases the goods it sells from a primary source.

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1
Q

Standardized recipe

A

A specific set of instructions for a specific food preparation for a specific food service operation.

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2
Q

Specification

A

A description of all the characteristics in a product required to fill certain production and/or service needs.

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3
Q

Bulk pack

A

The product is packed in a very large package. The AP price per unit is usually less than smaller packages, and much less than single-serve packages.

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4
Q

Shrink allowance

A

The amount of of weight loss the buyer will accept in a shipment. The weight loss is due to unavoidable moisture loss during transit.

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5
Q

Brand name

A

Is an indication of product quality; a typical selection for purchased items, especially when purchasing beverage alcohol

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6
Q

Packer’s brands

A

Specific indication of product quality. More precise than brand name. A packer’s personal grading system. Usually intended to take the place of U.S. Quality grades

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7
Q

Grading factors

A

Characteristics of food or beverage products examined by grading inspectors. Used to judge and rank products.

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8
Q

Yield

A

The net weight or volume of a food item after it had been processed and made ready for sale to the guest

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9
Q

Edible yield

A

Another term for yield.

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10
Q

Waste

A

The unusual part of a product that occurs when it is processed. Most waste is unavoidable. But sometimes avoidable waste occurs due to mistakes and carelessness.

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11
Q

Trim

A

Another term for waste. What is cut off

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12
Q

Product form

A

Refers to the degree of processing, or lack thereof, a product has when purchased. For instance, a buyer can purchase whole chickens or just he chicken parts desired. The parts typically would cost more than the whole birds as they have been further processed.

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13
Q

Reference check

A

Confirming the veracity of information and personal accomplishments provided by vendors and job candidates.

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14
Q

Will-call buying

A

Merchandise is not delivered to the restaurant The burr picks up the merchandise at the vendor’s location. The buyer may also have to pay for the merchandise when picking it up, unless the buyer has established credit with the vendor

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15
Q

Sacred hours

A

The time of day when you would not want to accept deliveries. Usually, these hours are from 11:30 am- 1:30 pm.

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16
Q

Drop shipments

A

Typical shipping procedure used when buying direct. The shipment is delivered to the back door of the restaurant, usually by common carrier.

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17
Q

Socially responsible firm

A

A vendor who uses environmentally safe products and m/or procedures. Alternately vendor who promotes social causes, supports charities, and so forth.

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18
Q

Lead time

A

Period of time between when you place an order and when you receive it.

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19
Q

Returns policy

A

Vendors procedure a buyer needs to follow in order to return products and receive credit for them

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20
Q

Restocking fee

A

A few the vendor charges the buyer who wants to return something that isn’t defective but that the buyer can’t use or who wants to return special order merchandise. Occurs when buyer changes mind at the last minute

21
Q

Minimum order requirement

A

The minimum a buyer must purchase before the vendor will sell it or give free delivery

22
Q

Localvore

A

A person dedicated to eating food grown and produced locally or produced and grown personally

23
Q

Request for quote (RFQ)

A

Used by buyers who shop around for the best possible deals. It is a list of items needed and their specifications, given to potential endorse who are then asked to quote, or bid, the AP prices they would charge them.

24
Q

Cash-on-delivery (COD) payment

A

Paying for a shipment when it is delivered. Payment may be in cash, check, credit card, debit card, or other acceptable means

25
Q

Credit terms

A

The type and amount of financing a vendor will provide. Along with the prescribed type of bill- paying procedure that must be followed. Also included are thing s such as a description of late fee, penalties, and so forth.

26
Q

Prime-vendor procurement

A

Another term for one stop shopping. Buying as much as possible from one purveyor or the fewest possible purveyors

27
Q

Edible portion cost (EP cost)

A

Equal to the AP price per portion divided by its edible yield percentage

28
Q

As Purchased price/cost (AP price/cost)

A

Price charged by vendor

29
Q

Stock outs

A

Running out of a product; not having it available for guests who want it.

30
Q

Carrying cost

A

Expenses, such as insurance, security, and spoilage, associated with holding inventory in storage.

31
Q

Stock out (opportunity) cost

A

The costs incurred when you do not have a product a guest wants; also known as opportunity cost. Usually has a log run negative effect on net income

32
Q

Yield test

A

Process used to determine how much of a purchased product can be served to a guest, how much of it is waste and has to be discarded, and how much of it is edible byproducts and can be used for some other purpose. The result of the test is usually expressed as a yield percentage.

33
Q

As-purchased (AP) weight

A

The original weight of an item purchased

34
Q

Cryovac packed (wet packed)

A

A form of shrink wrap

35
Q

Ice Pack

A

Foods packed in crushed ice; intended to increase shelf life. A typical packaging procedure for fresh chickens and fresh fish

36
Q

Chill pack

A

A preservation method whereby the temperature is held at approximately 28 degrees F- 29 degrees F. Just above products freezing point. Usually done for fresh meats and poultry. Intended to increase the products shelf life.

37
Q

Edible portion (EP) weight

A

Difference between the original weight of the product and the production loss incurred after preparing it for service to guests

38
Q

Convenience foods

A

A good that has been processed by the manufacturer to change its form and or taste usually requires very little handling in the kitchen. It may be ready to use or ready to serve.

39
Q

Pilferage

A

Refers to minor theft

40
Q

Yield percentage

A

The ratio of servable weight to original weight. Equal to servable weight divided by the original weight multiplied by 100

41
Q

Wholesale (primal) cut

A

Refers to a large cut of meat used to produce several retail cuts bit is smaller than a hindquarter or forequarter, but larger than a retail cut.

42
Q

Point of sale

A

Computerized retail sales system that streamlines ordering and order processing and maintains a considerable amount of information, such as guest counts, server productivity statistics, types of payments, and so forth.

43
Q

Quality control

A

Systems and procedures used by managers to ensure that the actual quality of finished items is consistent with expected quality

44
Q

Line-item purchasing

A

A practice of buying from vendors only the individual items on a competitive bid sheet that are priced lower than those submitted by competing vendors. The opposite bottom line, firm-price purchasing.

45
Q

Control

A

Systems and procedures used by managers to ensure that the actual costs of doing business are consistent with the expected (or budgeted or theoretical) costs.

46
Q

Primary source

A

A supplier at the beginning of a product’s channel of distribution; this supplier typically sells items to an intermediary that resells them to the restaurant community.

47
Q

Purchasing power

A

Refers to the amount of money a buyer spends purchasing products and services; the more money spent, the more ability he or she has to get better deals from vendors

48
Q

Buying power

A

Another term for purchasing power

49
Q

Proprietary brand discount (Brand incentive)

A

A price reduction if you purchase a large amount of products that carry the vendor’s proprietary brand name

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