The action of promoting and selling a
good or service, which includes market
research and advertising.
A group of organizations that
moves products from their producer to
customers; also called Channel of
Distribution. (Ferrell and Hirt 2002)
Maslow’s Hierarchy (of Need)
In psychology, a
five-tier model in which human needs are
ranked in order from lowest to highest.
The manufacture of a large
quantity of a standardized good, often by an
The substance from which something is
composed or made.
A credit issued by a warehouse
upon the return of requisitioned supplies
found to be in excess of requirements.
Defects that are a matter of
substance that affect price or quality and do
not conform to the solicitation requirements.
Material Life Cycle
The phases through which
material assets pass, including assessing and
planning material requirements; acquisition;
operation, use, and maintenance; and
Material Safety Data Sheets (MSDS)
Documentation concerning a hazardous chemical that identifies the chemical, the
common names of the ingredients, the
physical and chemical characteristics, the
hazards of the chemicals, and the emergency
and first aid procedures to be considered
when working with the chemical.
A cost-saving strategy in
which a less expensive acceptable material
alternative, which meets the specification, is
used in the production of a good or service.