see Peer-to-Peer Interface Structure
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A process where the purchase order is compared against the supplier's invoice and the receiving report. A good 3-Way Match compares quantities, price, and terms appearing on the supplier's invoice...
Applications of Pareto’s Law or the 80/20 rule. ABC analysis, as related to inventory, is simply a determination of the relative ratios between the number of items and the dollar value of items...
In quality assessment, acceptance quality limit (previously referred to as acceptable quality level and also known as assured quality level), describes the maximum number of defects acceptable...
The act of accepting by an authorized representative; an indication of a willingness to pay; the assumption of a legal obligation by a party to the terms and conditions of a contract; An agreement...
A technical test performed at either the supplier's site, the buyer's site, or both, to audit whether the equipment bought by the buyer meets its functional and technical specifications.
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Costs that carriers may charge in addition to standard transportation costs. This may include single shipment charges, additional fees for deliveries made away from a loading dock or central...
1) A financial term referring to the amount of transactions which have been accrued but not paid to a vendor; 2) An accounting function.
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On a company's balance sheet, accounts receivable is the amount that customers owe to that company. Sometimes called trade receivables, they are classified as current assets assuming that they are...
A system of accounting in which revenues and expenses are recorded as they are earned and incurred, not necessarily when cash is received or paid. Accrual accounting also provides a more accurate...