Procurement, Receiving, Storage, And Inventory Flashcards

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0
Q

Standardized recipe

A

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

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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

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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

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3
Q

Time series

A

Follows an identifiable pattern over time

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4
Q

Causal

A

Factors such as selling price cause demand

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5
Q

Subjective

A

Relevant data is scarce, at a new site, estimate

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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
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7
Q

Actual vendor selection varies due to:

A
Delivery schedules
Payment policies
Contingency plans
Value added services
Credit
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8
Q

Special inventory

A

Things that are delivered specifically for business

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9
Q

Past activities of payment

A

Deals over time if you pay ahead

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10
Q

Contingency plan

A

Change the menu, have vender make a special delivery

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11
Q

Value added services

A

Writing for modifying menus for you

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12
Q

Prime vendor

A

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

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13
Q

Three basic forms of purchasing

A

Cherry picking
Competitive bid
Prime vendor

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14
Q

Contract: cherry picking

A

None

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15
Q

Contract: competitive bid

A

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

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16
Q

Contract: prime vendor

A

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

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17
Q

Price: cherry picking

A

$ amount, street sales, mark up depends on volume

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18
Q

Price: competitive bid

A

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

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19
Q

Price: prime vendor

A

Cost + percentage

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20
Q

Time commitment: cherry picking

A

Varies

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21
Q

Time commitment: competitive bid

A

Varies depending on procedure at institution

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22
Q

Time commitment: prime vendor

A

Very high at contract renewal time

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23
Q

Distributor sales rep: cherry picking

A

Street salesman paid on commission

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24
Q

Distributor sales rep: competitive bid

A

contract manager or national sales paid on commission or salary

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25
Q

Distributor sales rep: prime vendor

A

Account manager, paid salary

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26
Q

Institutional representative: cherry picking

A

Anyone who places an order

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27
Q

Institutional representative: competitive bid

A

Purchasing department, purchasing agent

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28
Q

Institutional representative: prime vendor

A

Purchasing department, purchasing agent

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29
Q

Food specifications: cherry picking

A

Buyer must be knowledgeable about product lines

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30
Q

Food specifications: competitive bid

A

buyer must have very specific product specs

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31
Q

Food specifications: prime vendor

A

Buyer provides general specs

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32
Q

Group purchasing organization

A

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

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33
Q

Just in time inventory system

A

Inventory represents money in the form of food, supplies, and small equipment

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34
Q

Inventory control

A

Keeping the size of the inventory at a level appropriate for the facility and ensuring the security of the goods on hand

35
Q

Cost of food available =

A

Beginning inventory + purchased food

36
Q

What was wasted =

A

Cost of food available - ending inventory

37
Q

Inventory turnover

A

Total cost of food per month/average of food inventory

$10,000 (food used in a month) / $1500 (food inventory) = 6.67

38
Q

Perpetual inventory

A

Continuously monitored record of stock on hand - balance sheet

39
Q

Food on hand =

A

beginning inventory + food purchased

40
Q

Food used =

A

Food on hand - final inventory

41
Q

Physical inventory

A

To check for accuracy (theft), other reason

42
Q

Requisition

A

Getting food out of storage (assigned person)

43
Q

ABC method of inventory

A

Classifies products according to their value (a = most expensive)

FIFO (based on new prices), LIFO (based on old prices), actual cost

44
Q

To determine order quantity

A

Forecast menu portions, do standard portions, determine serving supplies, assess food on hand

45
Q

Min/max purchasing system

A

Point you know when to buy, when you get low

46
Q

Lead time

A

Days before you order (order when inventory gets low, order for a month) –> driven by level of product

47
Q

Par ordering

A

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
Q

Obtain bid/price quotes

A

Develop specs for each item; obtain best prices/terms

49
Q

FOB origin

A

Buyer owns during the transportation

50
Q

FOB destination

A

Buyer owns when the order is received

51
Q

Ingredient room

A

Central location for measurement, where foods for recipes are assembled, assemble all ingredients measured exactly for the person the next day cooking it

52
Q

Benefits of ingredient room

A

Controls who requisites the food, controls product and how it’s made, helps with waste

53
Q

Scoops

A

The number of a scoop is the number of portions per quart

8 = 8 portions per quart or 1/2 cup each

54
Q

Profit center

A

Department that generates revenue greater than its expenses and creates profit for the organization

55
Q

Cost center

A

Department that has expenses but does not generate profits to cover those expenses

56
Q

Producer

A

Someone who produces raw food to sell

57
Q

Processor

A

Organization that takes raw food items in transforms them into packaged products for sale to consumers ot food-service operators

58
Q

Distributor

A

Wholesaler responsible for transferring products from the processor or manufacturer to the supplier

59
Q

Wholesaler

A

Distributor that purchases from various manufactures or processors, provide storage, sells, and delivers products to suppliers

60
Q

Broker

A

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
Q

Manufactures representative

A

Distributor who represents a manufacturing company and informs suppliers of products by this manufacturer

62
Q

Supplier

A

Organization that offers products for sale

63
Q

Standards Of identity

A

Federal standards that identify what a given food product contains

64
Q

Standards of quality

A

Federal standards for product quality attributes such as tenderness, color, and freedom from defects

65
Q

Irradiation

A

Exposure of foods to gamma rays are radiant energy to reduce harmful bacteria

66
Q

Value analysis

A

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
Q

Specification

A

Statement understood that buyers and suppliers of the required quality of products, including allowable limits of tolerance

68
Q

Technical specification

A

Specification that indicates quality by objective and impartial test results

69
Q

Approved brand specification

A

Specification that indicates quality by specifying a brand-name or label

70
Q

Performance specification

A

Specification that indicates quality by functioning characteristics of the product

71
Q

Bid buying

A

Buyer decides which supplier will be chosen for the order based on bids submitted from the seller

72
Q

Bid

A

A price quotation from seller

73
Q

Law of agency

A

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
Q

Law of warranty

A

Guaranteed by the supplier that an item will perform in a specified way

75
Q

Law of contract

A

Signed agreement between two and more parties related to the purchase of a product or service

76
Q

Invoice

A

Document prepared by the supplier that includes product name, quantity, and price

77
Q

Requisition

A

Form used a food service manager to request items from purchasing manager or department

78
Q

Purchase order

A

Document completed by the fire and given to the supplier listing items to be purchased

79
Q

Receiving

A

Activity for ensuring that producs delivered by suppliers are those that were ordered

80
Q

Elements of receiving activity

A

Competent personnel, facilities and equipment, specifications, critical critical controls and receiving such as sanitation, adequate supervision, scheduled hours

81
Q

Receiving process

A

Inspection against the purchase order, inspection against invoice, acceptance or rejection of orders, completion of receiving records, removal to storage

82
Q

Ethics

A

Principles of conduct governing an individual or business

83
Q

Code of ethics

A

Set of rules for standards of professional practice or behavior established by a group

84
Q

No 10 can

A

12 cups