Early Purchasing Involvement (EPI)
A practice involving supply management professionals in a new
product development process from its inception
Early Supplier Involvement
(ESI)
A practice that brings together one or
more selected suppliers with a buyer's product design team
early in the product development process
E-Business
A means of doing business that uses
electronic technologies such as EDI, Internet, Web based
supply chain integration to the benefit of an organisation.
It's also known as E-commerce
Economic Indicators
Activities that change
relative to the economy
Economic Order Quantity
A determinastic model that minimizes
total acquisition and inventory carrying cost. Popularly
it is known as EOQ
Economies of Scale
The reduction in average unit costs
experienced as an orgnisation's volume increases
Electronic Commerce
Utilization of technology of the
computer , including such tools as EDI, the internet,
intranets , Extranets to do commercial transaction
Electronic Data Interchange
Popularly known as
EDI it's computer to computer exchange of business information
in a standard format. Transaction documents are transmitted
electronically from purchaser's computer to the seller's
computer
Electronic Fund Transfer
The electronic transmission of funds
from one party, usually the Purchaser to other party, usually
the Supplier. The transfer is often done through internet
using credit card
Electronic Requisitions
Purchase requisitions / Indents
generated and transmitted by computer, replacing paper forms
eMarketplace
A place to conduct e-commerce where
sellers and purchasers meet on the net. It is used for
purchasing , auctioning etc.
Embargo
A government's total ban on trade with a
specific country
Enterprise
A complete business organisation from
front line employees to top management, all functions in
between
ERP
Enterprise Resource Planning refers to a
system that integrates various functions within an organisation. It may be used for forecasting, Materials
Management etc. It's a computerised system now a days
Escalation Clause
A contract clause permitting a specified
increase in the price of goods or services in the event of
certain conditions. Such a clause also specifis de-escalation
Established Market Price
A current price
generated in the usual course of business between buyers and
sellers free to bargain and which can be substantiated from an
independent source
Exchange Barriers
The restrictions imposed on exchanging a
country's currency against those of other countries
Exchange Rate
The price of a currency as it is being
exchanged for another
Exempt Commodities
Commodities that are not subject to
import duties or can be transported exempt of regulation
Expediting
Contacting a supplier or carrier with
the goal of speeding up the delivery date of an inbound
shipmen
Export license
A permit from a host country government,
enabling organisations to take goods out of a country
Express Warranty
A specific assurance made by the seller
concerning the performance , quality, or nature of the goods
or services sold
External Customer
The ultimate marketplace purchaser /
user of an organisation's outputs
Economy of Scale
A phenomenon whereby larger volumes of production reduce
unit cost by distributing fixed costs over a larger quantity.
EDI Standards
Criteria that define the data content and format
requirements for specific business transactions (e.g. purchase
orders). Using standard formats allows companies to exchange
transactions with multiple trading partners easily.
Efficient Consumer Response (ECR)
A demand driven replenishment system designed to link all
parties in the logistics channel to create a massive
flow-through distribution network. Replenishment is based upon
consumer demand and point of sale information.
Electronic Commerce (EC)
Also written as e-commerce. Conducting business
electronically via traditional EDI technologies, or online via
the Internet. In the traditional sense of selling goods, it is
possible to do this electronically because of certain software
programs that run the main functions of an e-commerce website,
such as product display, online ordering, and inventory
management. The definition of e-commerce includes business
activity that is business-to-business (B2B),
business-to-consumer (B2C).
Electronic Data Interchange (EDI)
Inter-company, computer-to-computer transmission of
business information in a standard format. For EDI purists,
"computer-to-computer" means direct transmission from the
originating application program to the receiving, or
processing, application program. An EDI transmission consists
only of business data, not any accompanying verbiage or
free-form messages. Purists might also contend that a standard
format is one that is approved by a national or international
standards organization, as opposed to formats developed by
industry groups or companies.
Electronic Funds Transfer (EFT)
A computerized system that processes financial
transactions and information about these transactions or
performs the exchange of value. Sending payment instructions
across a computer network, or the company-to company,
company-to-bank, or bank-to-bank electronic exchange of value.
End-of-Life Inventory
Inventory on hand that will satisfy future demand for
products that are no longer in production at your entity.
Enterprise Resource Planning (ERP) System
A class of software for planning and managing
“enterprise-wide” the resources needed to take customer
orders, ship them, account for them and replenish all needed
goods according to customer orders and forecasts. Often
includes electronic commerce with suppliers. Examples of ERP
systems are the application suites from SAP, Oracle,
PeopleSoft and others.
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