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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. See
also: Materiel Management.
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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. See
Also: Supply Chain Management (SCM).
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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. See also:
Historically Underutilized Business (HUB),
Small Disadvantaged Business, Woman-
Owned Business Enterprise (WBE),
Economically Disadvantaged Individuals.
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Mean
The arithmetic average; the average value
of a set of numbers. (Business 2002)
