Term
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Definition
| Paying for a product or service |
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Definition
| Choosing from among various alternatives |
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| An orderly, systematic exchange between a seller and a buyer.. The process of obtaining goods and services, including all activities associated with determining the types of products needed, making purchases, receiving and storing shipments, and administering puchas contracts. |
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Definition
| Refers to transactions done online |
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Definition
| Online interaction between businesses. Typically involves the sale and purchase of merchandise or services. |
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| Online interaction between businesses and consumers. Typically involves the sale and purchase of merchandise and services. |
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| E-(electronic) procurement |
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Definition
| Ordering products and services from various purveyors online. Alternately, ordering these things from a particular vendor who provides proprietary software to the buyer who is then allowed to enter the vendor’s electronic system. |
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| Commerical pitality operation |
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Definition
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| Noncommerical hospitality operation |
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Definition
| Another term for institutional or military hospitality operation |
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Definition
| A business from where the owner(franchisor) allows others (franchisees) to use his or her operating procedures, name, and so forth, for a fee. |
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Definition
| Oversees cleaning crews. Typically also has purchasing responsibilities for things such as soaps, chemicals, and other cleaning supplies. And also control the china, glass, and flatware inventories. |
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Definition
| The banding together of several small operators to consolidae and enhance their buying power |
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Definition
| A type of co-op where independent operators join together to send business to one another. For instance, Best Western is a referral group that has a central reservation system available to each member. In addition, these groups typically provide some purchasing advantages, as well as oter types of support, to its members. |
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Term
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Definition
| Another term fro buying club |
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Term
| Group Purchasing organization (GPO) |
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Definition
| Another term for buying a club |
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Term
| Real estate investment trust (REIT) |
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Definition
| A legal business entity that buys, sells, and manages commercial and residential properties |
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Term
| E-(electorinc) marketplace |
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Definition
| An online application allowing buyers to locate vendors, research prducts and services, solicit competitve bids and place orders electronically |
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Definition
| Web access point. Presents a starting point and access to multiple sources of similar online information |
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Term
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Definition
| Similar to a central distribution center. The major difference is that at a commissary, raw foods are processed into finsihed products, which is not the case in a central distribution center. Could be considered a restaurant company's personal conveniencfood processing. |
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| Central distribution center |
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Definition
| A large warehouse owned by a multiunit hospitality company that orders merchandise directly from primary sources, takes delivery, stocks the merchandise, and then delivers it to company affiliated units to the area |
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