Redo
Match the following terms with the appropriate definition
Purchasing
Central purchasing Agent
Lowest responsible bidder
Standardization
Specification
Life-cycle costing
Total-purchase costing
Ordering costs
Incremental costs
Carrying costs
Shortage costs
Total desirable inventory
Preventative maintenance
Maintenance prevention
Risk control
Security
Risk funding
Insurance
Total Cost Production manager assigned to monitoring the delivery services, developing a list of qualified vendors, purchasing standardized items, and uses specification.
Cost associated with disappointing a client, legal settlements, lost labor costs, delay and failure of service.
3.
Coverage which is paid for by monthly or yearly premiums and will pay out in the event of an emergency
4.
Minimizing maintenance by using good equipment and facility design
5.
Reduction in risk through careful procedures and practices in security
6.
Providing sufficient funds to meet possible loss situations
7.
Requires periodic inspections and upkeep
8.
Company a qualified company that has the lowest bid on a product or project
9.
Total...
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