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Material/Materiel Forecasting
Estimating future needs to avoid stock outs or oversupply.
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Material/Materiel Requirements Planning (MRP) System
A technique used to determine the quantity of dependent demand materials used in a planning period. May be used to schedule and control production, inventory levels, and deliveries from outside suppliers.
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Materials Management
Typically, a non-federal procurement term for a method and core supply chain function that may include purchasing, storage, transportation, forecasting, inventory control, inspection, and quality control to facilitate the flow of materials throughout the entity from delivery of materials to receipt by the end user.
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Matériel
A warehouse or military term for equipment, supplies, and apparatus used by a warehouse or the military.
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Materiel Management
Typically, a federal procurement term for a method and core supply chain function that may include purchasing, storage, transportation, forecasting, inventory control, inspection, and quality control to facilitate the flow of materials throughout the entity from delivery of materials to receipt by the end user.
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Maverick Spending
Purchases made outside of procurement policies and procedures or established contracts.
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Maximum Stock Level
The level that represents the maximum amount of stock of an item that may be held.
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May
Denotes the permissive in a contract clause or specification.
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MBE
Minority Business Enterprise.
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Mean
The arithmetic average. The average value of a set of numbers. (Business, 2002)