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41 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Always a Share
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A buyer assigns only a share to each vendor.
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Annual Spend
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The amount spent with each vendor and for what products.
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Automatic Replenishment (AR)
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The vendor manages the customers inventory, and automatically ships and stocks products at the customers location based on agreed standards.
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A form of just-in-time inventory management.
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Buying Center
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Informal, cross - department group of people involved in a purchase decision.
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Capital Equipment
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Major purchases made by a business.
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Coach
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Someone in a buying organization who can advise a sales person
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*Coaching someone
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Creeping Commitment
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Purchase decision process that arises when decisions made early affect decisions made later in the process.
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Deciders
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Buying center members make the final selection of the product to purchase.
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Derived Demanded
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Demand for a producers goods is based on what is sold.
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Economic Influencer
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Someone concerned about financial aspects of a purchase decision.
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Efficient Consumer Response (ECR)
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Distribution system driving inventory to lowest levels, increasing frequency of shipping and automates ordering and inventory control.
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Electronic Data Interchange (EDI)
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Computer to computer linkages between suppliers and buyers for information about sales.
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Emotional Needs
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Personal needs associated with personal reward and gratification for the person buying the product.
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End Users
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Businesses that purchase products for their business only.
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Gate Keepers
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Buying center members who influence the buying process by controlling flow of information.
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Influencers
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Buying center members inside or outside an organization who influence the buying process.
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Initiator
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The person who starts the buying process.
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Just-in-time (JIT) Inventory Control
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Planning system reducing inventory by having deliveries planned just in time.
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*Eggs for Easter
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Life-cycle Costing
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A method determining the cost of equipment or supplies over their useful life.
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Lost for Good
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A buyer who gives all business to one vendor is considered this.
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Material Requirements Planning (MRP)
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Planning system for reducing inventory levels by forecasting sales, developing schedule, and ordering parts and materials.
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Modified Rebuy
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A process associated with a customer who has purchased the product or service before and is interested in additional information.
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MRO Supplies
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Minor purchases made by businesses for maintenance and repairs.
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New Task
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Process associated with the initial purchase of a product or service.
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Original Equipment Manufacturer (OEM)
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Business that purchases goods to incorporate into products it maufactures.
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Producers
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Firm that buys goods and services to manufacture and sell other goods and sevices to its customers.
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Profit Margin
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The net profit the reseller makes, expressed as a percentage of sales.
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Quick-response (QR) System
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System of minimizing order quantities to the lowest level possible while incresing speed of delivery to drive inventory turnover.
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Rational Needs
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Organizational and/or personal needs that are directly related to product performance.
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Resellers
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Businesses, typically distributers or retailers, that purchase products for resale.
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Reverse Auction
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An auction where a buyer offerc a contract and sellers bid.
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Services
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End-user purchases such as internet and telephone connections, etc...
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Straight Rebuy
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Process involving a customer with knowledge gained from having purchased the product or service.
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Supplier Relationship Management (SRM)
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Using technology and statistics to identify important suppliers and opportunities for low costs, greater efficiency, and other benefits.
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Supplier Chain Management (SCM)
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Set of programms to increase efficiency of distribution systems moving products from producers to end users.
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Technical Influencer
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A person who makes sure that a purchase meets technical requirements.
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Turnover (TO)
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An account given to another salesperson because the buyer refuses to deal with the current salesperson.
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Users
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Members of a buying center that ultimately will use the product or a newer product.
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Value Analysis
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Problem-solving approach for reducing the cost of a product while providing the same level of performance.
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Vendor Analysis
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A formal method used by organizational buyers to summarize the benifits and needs satisfied by a supplier.
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Vendor Loyalty
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Commitment of a buyer to a specific supplier because of the supplier's superior performance.
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