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40 Cards in this Set
- Front
- Back
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A buyer who always allocate only a share to each vendor never getting one vendor all of the business |
Always a share |
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Amount that is spent with each vendor and for what products |
Annual spend |
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A form of just - in - time Inventory management where the vendor manages the customers inventory, and automatically ships and stocks products at the customer's location based on mutually agreed-upon standards |
Automatic replenishment |
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Informal, cross - Department group of people involved in a purchase decision |
Buying Center |
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Major purchases made by business, such as computer systems that are used by the business for several years and its operations or production process |
Capital Equipment |
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Someone in a buying organization who can advise a salesperson |
Coach |
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Purchase decision process that arises when decisions made early in the process have significant influence on decisions made later in the process |
Creeping commitment |
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Buying Center members who make the final selection of product purchase |
Deciders |
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Situation in which the demand for a producers Goods is based on what it's customer sell |
Derived demand |
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Someone who was concerned about the financial aspects of a purchase decision |
Economic influencer |
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Distribution system that drives inventory to the lowest possible levels, increases the frequency of shipping, and automates ordering and inventory control processes without the problems of stockouts and higher costs |
Efficient consumer response |
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Computer-to- computer linkages between suppliers and buyers for information sharing about sales, production, shipment, and receipt of products |
Electronic data interchange (EDI) |
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Organizational and/ or personal needs that are associated with some type of personal reward and gratification for the person buying the product |
Emotional needs |
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Businesses that purchase goods and services to support their own production and operations |
End-users |
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Find Center members who influence the buying process by controlling the flow of information and/or limiting the Alternatives considered. Sometimes called barriers or screens |
Gatekeepers |
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Buying Center members inside or outside an organization who directly or indirectly influence the buying process |
Influencers |
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The person who starts the buying process |
Initiators |
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Planning system for reducing inventory by having frequent deliveries planned just in time for the delivery products to be assembled into the final product. |
Just - in - time (JIT) inventory control |
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Method for determining the cost of equipment or supplies over their useful life |
Life-cycle costing |
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The buyer who gives all business to one vendor is considered lost for good for all of the out - suppliers because the buyer has cemented this relationship for a long period of time |
Lost for good |
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Planning system for reducing inventory Levels by forecasting sales, developing a production schedule, and ordering parts and raw materials with specific delivery dates. |
Material requirements planning (MRP) |
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Purchase decision process associated with a customer who has purchased the product or service in the past but is interested in obtaining additional information |
Modified rebuy |
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Minor purchases made by businesses for maintenance and repairs, such as towels and pencils |
MRO supplies |
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Purchase decision process associated with the initial purchase of a product or service |
New task |
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Business that purchases Goods ( components, sub-assemblies, raw and processed materials) to incorporate into products it manufactures |
Original equipment manufacturer (OEM) |
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Firm that buys goods and services to manufacture and sell other goods and services to its customers. |
Producer |
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The net profit the reseller makes, expressed as a percentage of sales |
Profit margin |
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System of minimizing order quantities to the lowest level possible while increasing the speed of delivery to drive inventory turnover; accomplished by pre-packaging certain combinations of products |
Quick response system |
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Organizational and/or personal needs that are directly related to product performance |
Rational needs |
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Businesses, typically Distributors and retailers, that purchase products for resale |
Resellers |
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End - user purchases such as Internet and Telephone Connections, employment agencies, Consultants, and transportation |
Services |
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Purchase decision process involving a customer with considerable knowledge gained from having purchased the product or service and number of times |
Straight rebuy |
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The use of technology and statistics to identify important suppliers and opportunities for cost reduction, greater efficiency, and other benefits |
Supplier relationship management (SRM) |
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Set of programs undertaken to increase the efficiency of the distribution system that moves products from The Producers facilities to the end user |
Supply Chain management (SCM) |
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The person who makes sure that it purchased meets technical requirements |
Technical influencer |
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An account is given to another sales person because the buyer refuses to deal with the current sales person |
Turnover (TO) |
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Members of the buying Center that ultimately will use the product purchased |
Users |
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Problem solving approach for reducing the cost of the product while providing the same level performance |
Value analysis |
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A formal method used by organizational buyers to summarize the benefits and needs Satisfied by a supplier. |
Vendor analysis |
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Commitment of a buyer to a specific supplier because of the supplier's superior performance |
Vendor loyalty |
