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Op-002

TermDefinition
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
Created by: drakon0130
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