1. Salvageable materials with a market value
that are damaged, defective, or deteriorated.
2. Remaining residue from operations after a
project is completed.
The value of such materials exceeds the
expenses required to sell them. See also:
A formal submission from a bidder
submitted in response to an Invitation for Bids
(IFB). The bid is submitted in a sealed
envelope to prevent its contents from being
revealed before the time and date set for the
The money, time, and energy
expended by a buyer to research a good or
service for purchase.
Usable products containing
imperfections or slight defects that may be
marked down below typical list price.
A form of market coverage
whereby only a small number of all available
outlets are used to expose products.
A self-assessment of the way a
person views themself and their work
performance and accomplishments.
Maintaining funds rather than
purchasing an insurance policy to cover a
Self-Directed Work Team
A group of employees
who organize and manage themselves and
A lien in favor of a supplier granting
the supplier the right to withhold goods sold,
surrendering them only upon receipt of
An economic situation in which
demand exceeds supply, allowing sellers to
keep prices high.