WHAT ARE THE BUSINESS RELATED TERMS?
ACRONYM DEFINITION
ARO After Receipt of Order. "ARO" defines time when customer's purchase order is received and entered by the manufacturer. Projection for delivery date begins only ARO.
BOM Bill of Materials
Broker One who buys but does not stock product
C of A Certificate of Analysis. Provided by manufacturer to confirm materials used in the product.
C of C Certificate of Conformance/Compliance. Provided by manufacturer or supplier confirming product meets specifications.
C of O Certificate of Origin. Verifies where product was manufactured.
C of O Certificate of Origin. Verifies where product was manufactured.
Distributor Company that buys, sells, and stocks products per customer needs, like Prime.
Drop Shipment Product shipped directly to the customer from the factory.
F.O.B. Freight-On-Board. Rates are based from starting location or origin.
Freight Collect Customer pays the freight charges at time product is delivered.
HTS The Harmonized Tariff Schedule determines the amount of duty owed on shipments of certain materials into China. Required for filling out the shippers Export Declaration for UPS.
Inter-State Shipping between states.
Intra-State Shipping within the state.
MOQ Minimum Order Quantity.
MSDS Material Safety Data Sheet. This is provided by manufacturer that details materials. Used to produce products and defines any hazardous warnings.
NCNR Non-Cancelable, Non-Returnable. Products are not eligible for return for credit. Usually NCNR items are custom designs.
NIST National Institute of Standards and Technology. This references Calibration and Traceability.
NRE Non-Recurring Engineering Fee. A one-time charge for custom design.
P & D Price and Delivery request.
RFQ Request for Quote.
RMA Return Material Authorization - required before parts may be returned.
RoHSR Restriction of Hazardous Substances. Compliancy with this standard is now required for products shipped to some foreign countries.
RP Request for Purchase.
U/M Unit of measure. Defines the unit of measure; i.e., each, dozen, etc.
Vendor Supplier of parts - could be a manufacturer, distributor, broker or service-provider.
WBE Woman-Owned, Business Enterprise
HM -- what is the source of your information?
Business-related terms can vary depending on the context and industry, but here are some common business terms:
1. Revenue: The total amount of money a business earns from its sales or services.
2. Expenses: The costs incurred by a business in its day-to-day operations, such as rent, utilities, salaries, and materials.
3. Profit: The positive financial result when revenue exceeds expenses. It represents the amount of money a business retains after deducting all costs.
4. Cash flow: The movement of money in and out of a business, including both income and expenses.
5. Assets: The resources or properties owned by a business, such as equipment, inventory, or intellectual property.
6. Liabilities: The debts or financial obligations a business owes to others, such as loans or unpaid bills.
7. Return on Investment (ROI): A measure of the profitability of an investment, calculated by dividing the net profit by the cost of the investment.
8. Market share: The percentage of total sales or revenue within a specific market that a business has acquired.
9. Entrepreneur: A person who starts and runs their own business, assuming the financial risks involved.
10. Marketing: The strategies and activities implemented to promote products or services, attract customers, and increase sales.
To find more business-related terms, you can consult business dictionaries or glossaries, search online resources, or refer to specialized books and publications on business and finance.