Glossary
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Economic Order Interval (EOI).
In fixed order interval systems, the interval between orders that will minimise the total inventory cost, under a given set of circumstances, obtained by trade off analysis between the cost of placing an order and the cost of holding stock
Expression Of Interest (EOI).
Often the first stage in outsourcing which involves a summary of the requirements being distributed to potential suppliers of goods and/or services.
Economic Order Quantity (EOQ).
In fixed order quantity systems, the size of an order that minimises the total inventory cost, under a given set of circumstances, obtained by trade off analysis between the cost of placing an order and the cost of holding stock.
Economic Stock.
The sum of the physical stock and the goods ordered but not yet received, minus the goods sold but not yet delivered for which a company carries risk in respect of a drop in price and unmarketability.
Effective Stock.
The sum of the physical stock of a particular product and the quantity of that product ordered for a particular period, but not yet received.
Efficient Consumer Response (ECR).
An initiative whereby elements of the supply chain work together to fulfill consumer wishes better, faster and at less cost.
Eighty-Twenty Rule.
See Pareto Principle
Electronic Commerce (E Commerce).
A way to execute transactions and share information with other businesses, consumers or with government by using computer and telecommunication networks, including the Internet.
Electronic Data Interchange (EDI).
The computer to computer exchange of structured data for automatic processing.
Enterprise Requirement Planning (ERP).
A further extension of MRP II whereby a single system embraces and integrates all aspects of business operations into a single database application.
European Article Numbering (EAN).
An international standard of product identification used in the grocery and retail areas of business.
Excess Stock.
Any quantity of inventory, either held or on order, which exceeds known or anticipated forward demand to such a degree that disposal action should be considered.
Acronyms | 1-10 | A | B | C | D | E | F | G | H | I | J
K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
