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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 - EOQ
A deterministic 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 specific 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 |
