Terminology
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| Accounting Period | Intervals on which accounting reports
are based. Usually monthly or every four calendar weeks if a 13-week
accounting period is used.
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| Accounts Payable | Amounts due to a vendor for the delivery
of inventory products.
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| Accounts Receivable | Amounts due and charged for the delivery
product to non-vending locations.
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| Bank | 1) Two or more vending machines in a row; 2) Amount
of money stored in a coin/dollar mechanism; also refers to a route man’s change fund.
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| Bar Code | A combination of parallel lines of bars and spaces that
communicate data about the product or shipping container to which
it is affixed. (e.g. U.P.C. Code). Bar codes allow for tracking,
management and control of physical product flow.
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| Broker | A person who is paid to act as an agent for others,
for example, in negotiating contracts or buying and selling goods
and services.
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| Change Fund | coin carried by a route man and used to replenish
the change in changes and coin mechanisms. Also the coin in those
machines.
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| Changer Banks | Most vending machines have a coin mechanism
that delivers change if a customer puts in too much coin or cash.
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| Channel of Distribution | Refers to the “retail sector”
in which product is being sold through (e.g. Vend, Grocery, Convenience, Food service, Warehouse Club, etc.)
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| Count | In the money room, each bag of money from the vending
machines is counted individually with the totals recorded.
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| Deposits | The money counted for each day is then sent to the bank for deposit.
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| Distributor (Product | A representative for the Manufacturer
who sells the product to various Vend Operators.
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| Distributor (Equipment) | A representative for the Equipment Manufacturer who sells the equipment.
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| Glass Front Snack Machine | A vending machine which utilizes a full glass front
to merchandise the product selection inside the machine.
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| Income Statement | An actual operating statement of all activity
in a foodservice location for a specific period.
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| Installation | Placing a vending machine(s) for operation
at a particular location.
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| Installer | A person used in the installation of vending
equipment.
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| Inventory | A physical count of product and or equipment.
Location: Specific place within the site where the machine
is. (i.e. Cafeteria, Breakroom.)
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| Machine Maintenance | Routine work completed by a mechanic
to ensure the machine is working properly.
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| Money Room | Location where revenue from vending and non-vending
sales is counted.
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| NAMA | National Automatic Merchandising Association is the
national associate of vending and food service management industry founded in 1936.
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| Order Stock | Placing an order for products.
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| Out of Stock | A product temporarily unavailable due to demand/sales
exceeding inventory.
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| OSHA | The Hazard Communication Standard of the Occupational
Safety and Health Administration (OSHA) requires ALL companies to inform their employees of the potential dangers of any hazardous chemical substances used in their operations.
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| Prepaid Card | A card for a set amount of money which is
then debited for each purchase.
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| Pro-Formula Income | An anticipated operating statement of
potential activity in a foodservice location.
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| Product | The item vended.
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| Product Mix | The relationship of each item sold as a percentage
of the total sales and as a weighted cost of sales.
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| Promotion/Deal | Off-invoice price reduction offered by Product
Supplier either directly or through VPD for a defined window of
time.
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| Rebate/Incentive | A reimbursement for a portion of the original purchase price for an item offered by a Product Supplier to both VPD’s and VO’s as a “reward” for meeting predefined
criteria.
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| Refund | An exchange of product or money for a malfunction
of equipment.
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| Satellite | A site removed from the main location but serviced
by the same resident vend.
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| Service Calls | When vending machines do not function as
expected, either a customer or route person will report a service
call.
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| Shelf Life | The length of time a product will keep without
deterioration that makes it unusable.
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| Shopper Mode | Allows customer to pick his or her particular
product.
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| Site | Restaurant or area where a machine is located.
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| SKU | Stock/Shelf Keeping Unit – a distinct unit of
inventory uniquely distinguished by an individual color, size, flavor, or pack of product that requires a separate code number.
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| Statements | Billings for Account Receivable amounts indicating
the current balance due.
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| Trade Shows | A place when exhibitors (machine manufacturers,
product suppliers, computer companies, distributors and many other
display their wares to the vending operators.
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| U.L. | Underwriters Laboratory – A testing organization that certifies that electrical. Requirements of a piece of equipment meet federal standards.
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| UPC Code | Universal Product Code – A numbering and bar coding system for product identification of consumer items, typically scanned at the retail point of sale or as part of the Vend process to manage inventory.
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| USPHS | In 1957, NAMA initiated a vending machine evaluation
program to enable vending machine manufacturers to build equipment in conformity with U.S. Public Health Service (USPUS) sanitary requirements.
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