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Op-002
Term | Definition |
---|---|
Competitive bidding process: | A method of collecting price quotes from suppliers vying for an order or job |
Credentials: | Information about a person’s or business’s skills, abilities, and qualifications |
Invoice: | The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc. |
Profit margin: | A ratio of net profit (after taxes) divided by net sales that reflects the profit per dollar of sales |
Strategic planning: | Long-range planning (three to five years) for the company as a whole |
Suppliers: | Businesses from which other businesses buy goods or services; vendors |
Transformation: | A change in the shape or appearance of an object |
Wholesalers: | Intermediaries who help to move goods between producers and retailers by buying goods from producers and selling them to retailers |