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Selective Distribution
A form of market coverage
whereby only a small number of all available
outlets are used to expose products.
(Business 2002)
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Self Evaluation
A self-assessment of the way a
person views themself and their work
performance and accomplishments.
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Self Insurance
Maintaining funds rather than
purchasing an insurance policy to cover a
loss.
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Self-Directed Work Team
A group of employees
who organize and manage themselves and
their work.
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Seller’s Lien
A lien in favor of a supplier granting
the supplier the right to withhold goods sold,
surrendering them only upon receipt of
payment.
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Seller’s Market
An economic situation in which
demand exceeds supply, allowing sellers to
keep prices high.
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Seller’s Option
1. A supplier’s right to compel a purchaser to
buy at a particular price and time.
2. On option granted to the supplier to make
delivery within a specified, limited period.
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Sensitivity Analysis
A component to take into
consideration when conducting a “make or
buy” analysis and deciding whether a service
should be done in-house or outsourced if the
costs are almost equal. A sensitivity analysis
can be performed to determine the
consideration of the costs relative to the
assumptions. This additional information and
any intangible factors could influence the final
make or buy decision.
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Sequential Sampling Plan
A unit-by-unit
approach to sampling in which the sample
units are selected one at a time. After each
unit is inspected, the decision is made to
accept, reject, or continue inspection until the
acceptance or rejection criteria are met.
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Service Function
The provision by the
procurement department of any services
common to departments throughout the
entity, thereby relieving those departments of
the need to perform those activities. See also:
Line Function, Staff Function.
