purchasing unit of measure also unit of measure (purchasing)

Syn: unit of measure (purchasing).

A market in which many competitors offer undifferentiated products or services within a given geographical area. Competitors are forced to accept the market price for their product. See: industry structure types.

A market in which only one firm provides a particular product or service within a given area. The monopoly may be regulated or unregulated. See: industry structure types.

A market in which a few companies produce essentially the same product or service and market it within a given area. A company is forced to price its product at the going rate unless it can differentiate its product. See: industry structure types.

1) In production, the production of items at times required by a given schedule planned in advance. 2) In material control, the issuing of material according to a given schedule or issuing material to a job order at its start time. 3) In distribution, a system for replenishing field warehouse inventories where replenishment decision making is centralized, usually at the manufacturing site or central supply facility. See: pull system.

Removing the material from the dock (or other location of receipt), transporting the material to a storage area, placing that material in a staging area and then moving it to a specific location, and recording the movement and identification of the location where the material has been placed.

A forecasting technique that enables management to review and adjust forecasts made at an aggregate level and to keep lower level forecasts in balance. The procedure begins with the roll up (aggregation) of item forecasts into forecasts by product group. The management team establishes a (new) forecast for the product group. The value is then forced down (disaggregation) to individual item forecasts so that they are consistent with the aggregate plan. The approach combines the stability of aggregate forecasts and the application of management judgment with the need to forecast many end items within the constraints of an aggregate forecast or sales plan. See: management estimation, planning bill of material, product group forecast.

A control chart for evaluating the stability of a process in terms of a quality score. The quality score is the weighted sum of the count of events of various classifications, where each classification is assigned a weight. Syn: quality chart, quality score chart.