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Sales Order
{{unref, date=December 2018 The sales order, sometimes abbreviated as SO, is an order issued by a business or sole trader to a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. Broadly, the fulfillment modes, based on the relationship between the order receipt and production, are as follows: * Digital copy – Where products are digital and inventory is maintained with a single digital master. Copies are made on demand in real time and instantly delivered to customers. * Build to stock – Where products are built and stocked in anticipation of demand. Most products for the consumer would fall into this category * Build to order – Where products are built based on orders received. This is most prevalent for custom parts where the designs are known beforehand. * Configure-to-order – Where products are configured or assembled to meet unique customer requirements, e.g. co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order (business)
In business or commerce, an order is a stated intention, either spoken or written, to engage in a commercial transaction for specific products or services. From a buyer's point of view it expresses the intention to buy and is called a purchase order. From a seller's point of view it expresses the intention to sell and is referred to as a sales order. When the purchase order of the buyer and the sales order of the seller agree, the orders become a contract between the buyer and seller. Within an organization, it may be a work order for manufacturing, a preventive maintenance order, or an order to make repairs to a facility. In many businesses, orders are used to collect and report costs and revenues according to well-defined purposes. Then it is possible to show for what purposes costs have been incurred. Spoken orders Businesses such as retail stores, restaurants and filling stations conduct business with their customers by accepting orders that are spoken or implied by the buyer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invoice
An invoice, bill or tab is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a maximum number of days to pay and is sometimes offered a discount if paid before the due date. The buyer could have already paid for the products or services listed on the invoice. To avoid confusion and consequent unnecessary communications from buyer to seller, some sellers clearly state in large and capital letters on an invoice whether it has already been paid. From a seller's point of view, an invoice is a ''sales invoice''. From a buyer's point of view, an invoice is a ''purchase invoice''. The document indicates the buyer and seller, but the term ''invoice'' indicates money is owed ''or'' owing. Within the European Union, an invoice is primarily leg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Source Documents
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and " financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Glossary Of Construction Cost Estimating
The following is a glossary of terms relating to construction cost estimating. __NOTOC__ A * Allocation of costs is the transfer of costs from one cost item to one or more other cost items. * Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. * As-sold estimate - the estimate which matches the agreed items and price for the project scope. B * Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods, qualifications, assumptions, inclusions, and exclusions. * Bill of materials (BOM) - a list of materials required for the construction of a project or part of a project, which may include quantities. * Bill of quantities (BOQ) - a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. It also (ideally) details the terms and conditions of the construction or repair contract and itemises all work to enable a contractor to price th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain Management
In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and storage of raw materials, work-in-process inventory, finished goods, and end to end order fulfilment from the point of origin to the point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally". SCM practice draws heavily on industrial engineering, systems engineering, operations management, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchase Order
A purchase order is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers. Purchase orders can be an essential part of enterprise resource planning system orders. An indent is a purchase order often placed through an agent (indent agent) under specified conditions of sale. The issue of a purchase order does not itself form a contract. If no prior contract exists, then it is the acceptance of the order by the seller that forms a contract between the buyer and seller. Overview Purchase orders allow buyers to clearly and openly communicate with the sellers to maintain transparency. They may also help a purchasing agent to manage incoming orders and pending orders. Sellers are also protected by the use of purchase orders, in case of a buyer's refusal to pay for goods or services. Purchase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order Management System
An order management system, or OMS, is a computer software system used in a number of industries for order entry and processing. Electronic commerce and catalogers Orders can be received from businesses, consumers, or a mix of both, depending on the products. Offers and pricing may be done via catalogs, websites, or roadcast networkadvertisements. An integrated order management system may encompass these modules: * Product information (descriptions, attributes, locations, quantities) * Inventory available to promise (ATP) and sourcing * Vendors, purchasing, and receiving * Marketing (catalogs, promotions, pricing) * Customers and prospects * Order entry and customer service (including returns and refunds) * Financial processing (credit cards, billing, payment on account) * Order processing (selection, printing, picking, packing, shipping) There are several business domains which use OMS for different purposes but the core reasons remain the same: # Telecom – To keep track of c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency (such as the Agricultural Marketing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distribution (business)
Distribution (or place) is one of the four elements of the marketing mix. Distribution is the process of making a product or service available for the consumer or business user who needs it. This can be done directly by the producer or service provider or using indirect channels with distributors or intermediaries. The other three elements of the marketing mix are product, pricing, and promotion. Decisions about distribution need to be taken in line with a company's overall strategic vision and mission. Developing a coherent distribution plan is a central component of strategic planning. At the strategic level, there are three broad approaches to distribution, namely mass, selective and exclusive distribution. The number and type of intermediaries selected largely depend on the strategic approach. The overall distribution channel should add value to the consumer. Definition Distribution is fundamentally concerned with ensuring that products reach target customers in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order Fulfillment
Order fulfillment (in British English: order fulfilment) is in the most general sense the complete process from point of sales inquiry to delivery of a product to the customer. Sometimes, it describes the more narrow act of distribution or the logistics function. In the broader sense, it refers to the way firms respond to customer orders. Classification The first research towards defining order fulfillment strategies was published by Hans Wortmann, and was continued by Hal MatherHal Mather, Competitive manufacturing, Prentice Hall 1988 in his discussion of the P:D ratio, whereby P is defined as the production lead time, i.e. how long it takes to manufacture a product, and D is the demand lead time. D can be viewed as: # The lead time quoted by the firm to the customer # The lead time the customer wishes it was # The competitive lead time Based on comparing P and D, a firm has several basic strategic order fulfillment options: * Engineer-to-order (ETO) - (D>>P) Here, the pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimation (project Management)
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as *Analogy based estimation * Compartmentalization (i.e., breakdown of tasks) *Cost estimate *Delphi method *Documenting estimation results *Educated assumptions *Estimating each task *Examining historical data *Identifying dependencies *Parametric estimating *Risk assessment *Structured planning Popular estimation processes for software projects include: * Cocomo * Cosysmo * Event chain methodology * Function points * Planning poker * Program Evaluation and Review Technique (PERT) * Proxy-based estimating (PROBE) (from the Personal Software Process) * The Planning Game (from Extreme Programming) * Weighted Micro Function Points (WMFP) * Wideband Delphi See also * Estimation in software engineering * Software development effort estimation * Comparison of development estimation soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Quote
A sales quote allows a prospective buyer to see the costs that will be involved for desired work. Many businesses provide services that cannot have an upfront price because the costs involved can vary. This can be due to the materials used, which can differ depending on the individual needs of the customer, and the necessary manpower. Therefore, it is common practice for these companies to provide the potential customer with an estimate of the cost. This quotation will be made by the company using the information that the potential customer provides, regarding relevant elements that may affect the price. A quote assists a prospective buyer in deciding a company or service. Because quality and professionalism within a company is usually considered along with price, most companies provide prospective customers with portfolios and examples of previous work. See also * Sales order * Request for quotation * Order (business) * Invoice * Receipt A receipt (also known as a pack ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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