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FAB Chapter 1
N/A
10
Other
Undergraduate 2
09/14/2011

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Cards

Term
The buyer's job
Definition
-Determining how much to buy
-Determning the best price
-Determining the optimum time to make the purchase
-Determining which product or service meets the needs of the organization
Term
Independent Operation
Definition
-Small "Owner-op"
-Medium sized operation
-Large independent
Term
Multi-units and Franchises
Definition
Central Commissaries
Term
Commerical Hospitality Operations
Definition
They are profit oriented companies.
(Hotels, motels, restaurants, Spas, Buffets, etc)
Term
Institutional Segment operated on break-even bases
Definition
They operated on break-even bases. (Employee feeding operation, assisted living facilities, clubs, shelters, etc)
Term
Military segment
Definition
They are third type of operation but also same as break-even operation, which is not for profit.(Troops feeding and house including vaious military clubs and exchanges within military installations)
Term
Small independent operation
Definition
Typically run by an owner-manager, who does all of the buying for the business
Term
The MEdium-sized independent generally
Definition
involved more than one person in the purchasing function. Usually, the general manager coordinates the various activites
Term
Large independent such as a hotel
Definition
Like mid-size operation or may hire a full time buyer. All buyer are supervised by a management person.
Term
Multi-units and Franchises
Definition
Usually a centrally located vice president of purchasing. Normally there are central distribution points.
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