COMMITTED SYNONYM SERIES

Synonym: Allocation Costing.Īccelerated Commercial Release Operations Support System (ACROSS): A Canada Customs system to speed the release of shipments by allowing electronic transmission of data to and from Canada Customs 24 hours a day, 7 days a week.Īcceptable Quality Level (AQL): In quality management, when a continuing series of lots is considered, AQL represents a quality level that, for the purposes of sampling inspection, is the limit of a satisfactory process average.Īcceptable Sampling Plan: In quality management, a specific plan that indicates the sampling sizes and the associated acceptance or non-acceptance criteria to be used. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs.

Care must be taken in evaluating the nature of the demand: Is it a volume change, is it a change in product mix, or is it related to the timing of the order?Ībsorption Costing: In cost management, an approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. This demand may come from a new customer or from existing customers whose own demand is increasing or decreasing.

ABC Models are created and maintained within this system.ĪBI: * See Automated Broker Interface (ABI).ĪBM: See Activity-Based Management (ABM).Ībnormal Demand: Demand in any period that is outside the limits established by management policy. The C-class contains 60 to 70% of the items, and represents about 10 to 30% of the dollar volume.ĪBC Costing: See Activity-Based Costing (ABC)ĪBC Inventory Control: An inventory control approach based on the ABC volume or sales revenue classification of products (A items are highest volume or revenue, C – or perhaps D – are lowest volume SKUs.)ĪBC Model: In cost management, a representation of resource costs during a time period that are consumed through activities and traced to products, services, and customers, or to any other object that creates a demand for the activity to be performed.ĪBC System: In cost management, a system that maintains financial and operating data on an organization’s resources, activities, drivers, objects and measures. The next grouping, B, represents about 20% of the items and 20% of the dollar volume. The A group represents 10 to 20% by number of items, and 50 to 70% by projected dollar volume. This array is then split into three classes called A, B, and C. Stymied by stickering? Exasperated by XML? And just what is Poka Yoke, anyway? Let Inbound Logistics’ glossary of transportation, logistics, supply chain, and international trade terms help.Ī | 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 AĪBC Analysis: A classification of items in an inventory according to importance defined in terms of criteria such as sales volume and purchase volume.ĪBC Classification: Classification of a group of items in decreasing order of annual dollar volume or other criteria. Forklifts, Pallets & Materials Handling.Forklift/Pallets/Materials Handling RFP/.

Committed synonym