Procurement, Receiving, Storage, And Inventory Flashcards

0
Q

Standardized recipe

A

Allows us to know exactly what we need to purchase while ensuring similar quality with taste and nutrition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Value analysis

A

Investigation of all components of an existing product or service with the goal of discovering and eliminating unnecessary menu items without interfering with the effectiveness of the product or service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Forecast production demand: historical record

A

Past customer counts, number of menu items prepared, sales record, consider day and date, meal, special event, food item prepared, quantity prepared in quantity served

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Time series

A

Follows an identifiable pattern over time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Causal

A

Factors such as selling price cause demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Subjective

A

Relevant data is scarce, at a new site, estimate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How to select a purchasing method

A
Determine purchasing volume
Determine frequency of delivery
Consider distributors location
Evaluate department storage facilities
Determine available personnel
Consider size and philosophy of operation
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Actual vendor selection varies due to:

A
Delivery schedules
Payment policies
Contingency plans
Value added services
Credit
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Special inventory

A

Things that are delivered specifically for business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Past activities of payment

A

Deals over time if you pay ahead

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Contingency plan

A

Change the menu, have vender make a special delivery

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Value added services

A

Writing for modifying menus for you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Prime vendor

A

Where you buy best majority of food products, promise to buy large portion of foods, get better buy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Three basic forms of purchasing

A

Cherry picking
Competitive bid
Prime vendor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Contract: cherry picking

A

None

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Contract: competitive bid

A

Shorter, months to years, sets the price constant, easy to police include; only set # of items

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Contract: prime vendor

A

Longer, years, harder to police, covers more items than competitive bid contescts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Price: cherry picking

A

$ amount, street sales, mark up depends on volume

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Price: competitive bid

A

$ amount: mark up depends on volume but bid is designed to below enough to get the award

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Price: prime vendor

A

Cost + percentage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Time commitment: cherry picking

A

Varies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Time commitment: competitive bid

A

Varies depending on procedure at institution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Time commitment: prime vendor

A

Very high at contract renewal time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Distributor sales rep: cherry picking

A

Street salesman paid on commission

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Distributor sales rep: competitive bid
contract manager or national sales paid on commission or salary
25
Distributor sales rep: prime vendor
Account manager, paid salary
26
Institutional representative: cherry picking
Anyone who places an order
27
Institutional representative: competitive bid
Purchasing department, purchasing agent
28
Institutional representative: prime vendor
Purchasing department, purchasing agent
29
Food specifications: cherry picking
Buyer must be knowledgeable about product lines
30
Food specifications: competitive bid
buyer must have very specific product specs
31
Food specifications: prime vendor
Buyer provides general specs
32
Group purchasing organization
Members are individual organizations, different management, meet to establish policy, acts as agents in negotiation price, a membership fee is required, may have prime vendor Advantages: price volume, streamlined paper, freedom from sales rep
33
Just in time inventory system
Inventory represents money in the form of food, supplies, and small equipment
34
Inventory control
Keeping the size of the inventory at a level appropriate for the facility and ensuring the security of the goods on hand
35
Cost of food available =
Beginning inventory + purchased food
36
What was wasted =
Cost of food available - ending inventory
37
Inventory turnover
Total cost of food per month/average of food inventory $10,000 (food used in a month) / $1500 (food inventory) = 6.67
38
Perpetual inventory
Continuously monitored record of stock on hand - balance sheet
39
Food on hand =
beginning inventory + food purchased
40
Food used =
Food on hand - final inventory
41
Physical inventory
To check for accuracy (theft), other reason
42
Requisition
Getting food out of storage (assigned person)
43
ABC method of inventory
Classifies products according to their value (a = most expensive) FIFO (based on new prices), LIFO (based on old prices), actual cost
44
To determine order quantity
Forecast menu portions, do standard portions, determine serving supplies, assess food on hand
45
Min/max purchasing system
Point you know when to buy, when you get low
46
Lead time
Days before you order (order when inventory gets low, order for a month) --> driven by level of product
47
Par ordering
Always keep the same amount or each item, order to a level from the order date (done at even small places) --> driven by day you order
48
Obtain bid/price quotes
Develop specs for each item; obtain best prices/terms
49
FOB origin
Buyer owns during the transportation
50
FOB destination
Buyer owns when the order is received
51
Ingredient room
Central location for measurement, where foods for recipes are assembled, assemble all ingredients measured exactly for the person the next day cooking it
52
Benefits of ingredient room
Controls who requisites the food, controls product and how it's made, helps with waste
53
Scoops
The number of a scoop is the number of portions per quart 8 = 8 portions per quart or 1/2 cup each
54
Profit center
Department that generates revenue greater than its expenses and creates profit for the organization
55
Cost center
Department that has expenses but does not generate profits to cover those expenses
56
Producer
Someone who produces raw food to sell
57
Processor
Organization that takes raw food items in transforms them into packaged products for sale to consumers ot food-service operators
58
Distributor
Wholesaler responsible for transferring products from the processor or manufacturer to the supplier
59
Wholesaler
Distributor that purchases from various manufactures or processors, provide storage, sells, and delivers products to suppliers
60
Broker
Independent sales and marketing representatives who contracts with manufacturers, processors, or prime source producers to sell and conduct local marketing programs with wholesalers, suppliers, or food service operations
61
Manufactures representative
Distributor who represents a manufacturing company and informs suppliers of products by this manufacturer
62
Supplier
Organization that offers products for sale
63
Standards Of identity
Federal standards that identify what a given food product contains
64
Standards of quality
Federal standards for product quality attributes such as tenderness, color, and freedom from defects
65
Irradiation
Exposure of foods to gamma rays are radiant energy to reduce harmful bacteria
66
Value analysis
Methodical investigation of all components of an existing product or service with the goal of discovering and eliminating unnecessary costs without interfering with the effectiveness of the product or service
67
Specification
Statement understood that buyers and suppliers of the required quality of products, including allowable limits of tolerance
68
Technical specification
Specification that indicates quality by objective and impartial test results
69
Approved brand specification
Specification that indicates quality by specifying a brand-name or label
70
Performance specification
Specification that indicates quality by functioning characteristics of the product
71
Bid buying
Buyer decides which supplier will be chosen for the order based on bids submitted from the seller
72
Bid
A price quotation from seller
73
Law of agency
Buyer's authority to act for the organization, the application each of the other, in the extent to which each maybe you held liable for the others actions
74
Law of warranty
Guaranteed by the supplier that an item will perform in a specified way
75
Law of contract
Signed agreement between two and more parties related to the purchase of a product or service
76
Invoice
Document prepared by the supplier that includes product name, quantity, and price
77
Requisition
Form used a food service manager to request items from purchasing manager or department
78
Purchase order
Document completed by the fire and given to the supplier listing items to be purchased
79
Receiving
Activity for ensuring that producs delivered by suppliers are those that were ordered
80
Elements of receiving activity
Competent personnel, facilities and equipment, specifications, critical critical controls and receiving such as sanitation, adequate supervision, scheduled hours
81
Receiving process
Inspection against the purchase order, inspection against invoice, acceptance or rejection of orders, completion of receiving records, removal to storage
82
Ethics
Principles of conduct governing an individual or business
83
Code of ethics
Set of rules for standards of professional practice or behavior established by a group
84
No 10 can
12 cups