- What is a trade discount? - Questions & Answers
- Business Finance, Business Financing, Invoice Discounting
- Glossary of Trade & Shipping Terms - F
Distribution Center (DC): The warehouse facility which holds inventory from manufacturing pending distribution to the appropriate stores.
What is a trade discount? - Questions & Answers
Bonded Warehouse: Warehouse approved by the Treasury Department and under bond/guarantee for observance of revenue laws. Used for storing goods until duty is paid or goods are released in some other proper manner.
Business Finance, Business Financing, Invoice Discounting
External Factory: A situation where suppliers are viewed as an extension of the firm's manufacturing capabilities and capacities. The same practices and concerns that are commonly applied to the management of the firm's manufacturing system should also be applied to the management of the external factory.
Glossary of Trade & Shipping Terms - F
Serial Number: A unique number assigned for identification to a single piece that will never be repeated for similar pieces. Serial numbers are usually applied by the manufacturer but can be applied at other points by the distributor or wholesaler. Serial numbers can be used to support traceability and warranty programs.
Denied Party Listing (DPL): A list of organizations that is unauthorized to submit a bid for an activity or to receive a specific product. For example, some countries have bans on certain products like weapons or sensitive technology.
Accounts receivable are current assets which represent amounts to be collected from customers for goods sold and services provided. When a company sells goods or provides services, the customers rarely makes payment on spot. Instead, they are required to make payment within a certain time period, called credit period. The terms that determine the due date and the discount available if payment is made by a certain date are called credit terms.
Split Delivery: A method by which a larger quantity is ordered on a purchase order to secure a lower price, but delivery is divided into smaller quantities and is spread out over several dates to control inventory investment, save storage space, etc.
Insurance Certificate: A document issued to the consignee to certify that insurance is provided to cover loss of or damage to the cargo while in transit.
Quality Circle: In quality management, a small group of people who normally work as a unit and meet frequently to uncover and solve problems concerning the quality of items produced, process capability, or process control. Also see: Small Group Improvement Activity.