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Order
An instruction issued to a supplier for
goods to be delivered or services to be
provided to a given place at a given price.
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Order Bill of Lading
A negotiable bill of lading
between carrier and consignor by which legal
possession of the shipment may be ordered
by endorsement from person to person; this
enables a shipper to collect for a shipment
before it reaches its destination. Is sometimes
used by shippers to consign shipments to
themselves so that delivery is made only upon
the shipper’s order. See also: Bill of Lading.
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Order Confirmation
A document sent from the
supplier to the buyer verifying details of the
original purchase order. Also known as an
order acknowledgement.
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Order Level
The level of stock of any item when
an order is initiated for more of that item.
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Order Picking
The process of retrieving items
from an inventory to fulfill customer orders.
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Order Quantity
The predetermined standard
order size that is placed with the supplier to
replenish inventory.
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Order Record
A central record of orders issued.
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Ordering Cost
The cost associated with issuing a
purchase order or placing an order.
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Ordinance
A law passed by a local government.
See also: Bylaw.
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Organization
A business or group of people that
operate within an administrative and
functional structure.
