{"id":128640,"date":"2023-05-08T12:37:05","date_gmt":"2023-05-08T07:07:05","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=128640"},"modified":"2024-04-12T14:33:34","modified_gmt":"2024-04-12T09:03:34","slug":"material-management-glossary","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/material-management-glossary\/","title":{"rendered":"Material Management Glossary"},"content":{"rendered":"\n<p>Important definitions and terminologies used in Material Management<\/p>\n\n\n<div id=\"glossary\">\n<div id=\"letter-links\" style=\"font-size: 30px;letter-spacing:20px;\"><a href=\"#A\">A<\/a><a href=\"#B\">B<\/a><a href=\"#C\">C<\/a><a href=\"#D\">D<\/a><a href=\"#E\">E<\/a><a href=\"#F\">F<\/a><a href=\"#G\">G<\/a><a href=\"#H\">H<\/a><a href=\"#I\">I<\/a><a href=\"#J\">J<\/a><a href=\"#K\">K<\/a><a href=\"#L\">L<\/a><a href=\"#M\">M<\/a><a href=\"#N\">N<\/a><a href=\"#O\">O<\/a><a href=\"#P\">P<\/a><a href=\"#Q\">Q<\/a><a href=\"#R\">R<\/a><a href=\"#S\">S<\/a><a href=\"#T\">T<\/a><a href=\"#U\">U<\/a><a href=\"#V\">V<\/a><a href=\"#W\">W<\/a><a href=\"#X\">X<\/a><\/div>\n<h2 id=\"A\">A<\/h2>\n<ul>\n<li>ABC Analysis in Material Management<\/li>\n<li>ABC classification in Material Management<\/li>\n<li>Acceptance Sampling Plans in Material Management<\/li>\n<li>Accounting System in Material Management<\/li>\n<li>Activity-Based Costing in Material Management<\/li>\n<li>Advance Payment in Material Management<\/li>\n<li>Asset tracking in Material Management<\/li>\n<li>Audit Committee in Material Management<\/li>\n<li>Automatic Procurement Items in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"B\">B<\/h2>\n<ul>\n<li>Backorder in Material Management<\/li>\n<li>Bankruptcy in Material Management<\/li>\n<li>Barcode scanning in Material Management<\/li>\n<li>Batch control in Material Management<\/li>\n<li>Best Practices in Material Management<\/li>\n<li>Bill of lading (BOL) in Material Management<\/li>\n<li>Bill of materials (BOM) in Material Management<\/li>\n<li>Blockholder in Material Management<\/li>\n<li>Board Diversity in Material Management<\/li>\n<li>Board Evaluation in Material Management<\/li>\n<li>Board Handbook in Material Management<\/li>\n<li>Board of Directors in Material Management<\/li>\n<li>Board Pack in Material Management<\/li>\n<li>Board Structure in Material Management<\/li>\n<li>Board Succession Plan in Material Management<\/li>\n<li>Business Judgment Rule in Material Management<\/li>\n<li>Business Model in Material Management<\/li>\n<li>Busy Board in Material Management<\/li>\n<li>Busy Director in Material Management<\/li>\n<li>Bylaw in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"C\">C<\/h2>\n<ul>\n<li>Capacity planning in Material Management<\/li>\n<li>Capacity utilization in Material Management<\/li>\n<li>Carrier selection in Material Management<\/li>\n<li>Chairman of the Board in Material Management<\/li>\n<li>Check-Box Mentality in Material Management<\/li>\n<li>Chief Executive Officer (CEO) in Material Management<\/li>\n<li>Chief Financial Officer (CFO) in Material Management<\/li>\n<li>Chief Governance Officer (CGO) in Material Management<\/li>\n<li>Civil Law in Material Management<\/li>\n<li>Co-Determination in Material Management<\/li>\n<li>Code of Best Practices in Material Management<\/li>\n<li>Code of Conduct in Material Management<\/li>\n<li>Codification \/ Cataloguing in Material Management<\/li>\n<li>Common Law in Material Management<\/li>\n<li>Company Secretary in Material Management<\/li>\n<li>Compensation Benchmarking in Material Management<\/li>\n<li>Compensation Committee in Material Management<\/li>\n<li>Compensation Discussion and Analysis (CD&amp;A) in Material Management<\/li>\n<li>Compliance in Material Management<\/li>\n<li>Compliance Risk in Material Management<\/li>\n<li>Comply or Explain in Material Management<\/li>\n<li>Conflict of Interest in Material Management<\/li>\n<li>Conflict of Loyalty in Material Management<\/li>\n<li>Consignment inventory in Material Management<\/li>\n<li>Consolidated Financial Statements in Material Management<\/li>\n<li>Consolidated Management Statements in Material Management<\/li>\n<li>Constitution in Material Management<\/li>\n<li>Contract management in Material Management<\/li>\n<li>Contract manufacturing in Material Management<\/li>\n<li>Control Mechanism (Internal Controls) in Material Management<\/li>\n<li>Corporate Actions in Material Management<\/li>\n<li>Corporate Governance in Material Management<\/li>\n<li>corporate governance radar chart in Material Management<\/li>\n<li>Corporate Governance Rating in Material Management<\/li>\n<li>Corporate Law in Material Management<\/li>\n<li>Corporate Monitors in Material Management<\/li>\n<li>Corporate Performance Management (CPM) in Material Management<\/li>\n<li>Corporate Plans in Material Management<\/li>\n<li>Corporate Social Responsibility (CSR) in Material Management<\/li>\n<li>Corporate Strategy in Material Management<\/li>\n<li>Cost control in Material Management<\/li>\n<li>Cross-docking in Material Management<\/li>\n<li>Cumulative Voting in Material Management<\/li>\n<li>Custodian in Material Management<\/li>\n<li>Cycle counting in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"D\">D<\/h2>\n<ul>\n<li>Deadstock in Material Management<\/li>\n<li>Delegated Authority in Material Management<\/li>\n<li>Demand forecasting in Material Management<\/li>\n<li>Demand planning in Material Management<\/li>\n<li>Demand variability in Material Management<\/li>\n<li>Director in Material Management<\/li>\n<li>Director Indemnification in Material Management<\/li>\n<li>Discrepancy management in Material Management<\/li>\n<li>Distribution management in Material Management<\/li>\n<li>Diversity, Equity, and Inclusion (DEI) in Material Management<\/li>\n<li>Dock appointment scheduling in Material Management<\/li>\n<li>Dock-to-stock in Material Management<\/li>\n<li>Drag-Along Rights in Material Management<\/li>\n<li>Dual-Class Shares in Material Management<\/li>\n<li>Duty of Care in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"E\">E<\/h2>\n<ul>\n<li>E-Procurement in Material Management<\/li>\n<li>Earnings Management in Material Management<\/li>\n<li>Economic batch quantity in Material Management<\/li>\n<li>Economic Order Quantity (EOQ) in Material Management<\/li>\n<li>Economic value added (EVA) in Material Management<\/li>\n<li>Environmental, Social, Governance (ESG) in Material Management<\/li>\n<li>Excess inventory in Material Management<\/li>\n<li>Excise Documentation in Material Management<\/li>\n<li>Executive Remuneration (Executive Compensation) in Material Management<\/li>\n<li>Executive Session in Material Management<\/li>\n<li>Extraordinary General Meeting (EGM) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"F\">F<\/h2>\n<ul>\n<li>Fiduciary Duty in Material Management<\/li>\n<li>Financial Accounting Standards Board (FASB) in Material Management<\/li>\n<li>Financial Restatement in Material Management<\/li>\n<li>Financial Risk in Material Management<\/li>\n<li>First-in, first-out (FIFO) in Material Management<\/li>\n<li>Forecasting techniques in Material Management<\/li>\n<li>Foreign Exchange Regulation in Material Management<\/li>\n<li>Freight forwarding in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"G\">G<\/h2>\n<ul>\n<li>Generally Accepted Accounting Principles (GAAP) in Material Management<\/li>\n<li>Golden Handcuff (Golden Handshakes) in Material Management<\/li>\n<li>Good Faith in Material Management<\/li>\n<li>Governance Code in Material Management<\/li>\n<li>Governance Committee in Material Management<\/li>\n<li>Governance Model in Material Management<\/li>\n<li>Governance, Risk, Compliance (GRC) in Material Management<\/li>\n<li>Governing Document in Material Management<\/li>\n<li>Green logistics in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"H\">H<\/h2>\n<ul>\n<li>Hazardous materials handling in Material Management<\/li>\n<li>Hostile Takeover in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"I\">I<\/h2>\n<ul>\n<li>Import and Export Documentation in Material Management<\/li>\n<li>In-transit visibility in Material Management<\/li>\n<li>Incoming Materials Control in Material Management<\/li>\n<li>Incoterms in Material Management<\/li>\n<li>Independent Non-Executive Director (INED) in Material Management<\/li>\n<li>Insider Trading in Material Management<\/li>\n<li>Inspection criteria in Material Management<\/li>\n<li>Integrity in Material Management<\/li>\n<li>Interlocked Boards in Material Management<\/li>\n<li>Internal Audit in Material Management<\/li>\n<li>Inventory accuracy in Material Management<\/li>\n<li>Inventory Control in Material Management<\/li>\n<li>Inventory management in Material Management<\/li>\n<li>Investor Relations (IR) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"J\">J<\/h2>\n<ul>\n<li>JIT in Material Management<\/li>\n<li>Job sequencing in Material Management<\/li>\n<li>Just-in-time (JIT) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"K\">K<\/h2>\n<ul>\n<li>Kaizen in Material Management<\/li>\n<li>Kanban in Material Management<\/li>\n<li>Kanban system in Material Management<\/li>\n<li>Key Performance Indicators (KPIs) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"L\">L<\/h2>\n<ul>\n<li>Lead Independent (Presiding) Director in Material Management<\/li>\n<li>Lead time in Material Management<\/li>\n<li>Lead time variability in Material Management<\/li>\n<li>Lean manufacturing in Material Management<\/li>\n<li>Legal Entity in Material Management<\/li>\n<li>Limited Company (LC) in Material Management<\/li>\n<li>Limited Liability Company (LLC) in Material Management<\/li>\n<li>Logistics management in Material Management<\/li>\n<li>Long-Term Incentives in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"M\">M<\/h2>\n<ul>\n<li>Majority Voting in Material Management<\/li>\n<li>Make-to-order (MTO) in Material Management<\/li>\n<li>Make-to-stock (MTS) in Material Management<\/li>\n<li>Malfeasance in Material Management<\/li>\n<li>Management Board in Material Management<\/li>\n<li>Management Entrenchment in Material Management<\/li>\n<li>Management Reporting in Material Management<\/li>\n<li>Material flow analysis in Material Management<\/li>\n<li>Material handling in Material Management<\/li>\n<li>Material Information in Material Management<\/li>\n<li>Material requirements planning (MRP) in Material Management<\/li>\n<li>Material resource planning (MRP II) in Material Management<\/li>\n<li>Materials handling equipment in Material Management<\/li>\n<li>Materials Management in Material Management<\/li>\n<li>Materials requisition in Material Management<\/li>\n<li>Memorandum of Association in Material Management<\/li>\n<li>Minimum order quantity (MOQ) in Material Management<\/li>\n<li>Moral Compass in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"N\">N<\/h2>\n<ul>\n<li>Negligence in Material Management<\/li>\n<li>Nominating and Governance Committee in Material Management<\/li>\n<li>Non-Binding Vote in Material Management<\/li>\n<li>Non-Shareholder Interests in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"O\">O<\/h2>\n<ul>\n<li>Observer (Advisory) Directors in Material Management<\/li>\n<li>Obsolescence management in Material Management<\/li>\n<li>Open-to-buy (OTB) in Material Management<\/li>\n<li>Operational Risk in Material Management<\/li>\n<li>Operational Succession Plan in Material Management<\/li>\n<li>Order accuracy in Material Management<\/li>\n<li>Order fulfillment in Material Management<\/li>\n<li>Order management in Material Management<\/li>\n<li>Order picking in Material Management<\/li>\n<li>Order picking system in Material Management<\/li>\n<li>Order processing in Material Management<\/li>\n<li>Order status tracking in Material Management<\/li>\n<li>Outsourcing in Material Management<\/li>\n<li>Overstock in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"P\">P<\/h2>\n<ul>\n<li>Packaging and labeling in Material Management<\/li>\n<li>Packaging optimization in Material Management<\/li>\n<li>Part numbering system in Material Management<\/li>\n<li>Pay for Performance in Material Management<\/li>\n<li>Peer Group in Material Management<\/li>\n<li>Performance metrics in Material Management<\/li>\n<li>Performance Units (Shares) in Material Management<\/li>\n<li>Performance-Vested Options in Material Management<\/li>\n<li>Please visit our Private Markets Glossary in Material Management<\/li>\n<li>Please visit our Private Markets Glossary. in Material Management<\/li>\n<li>Preferred Stock (Shares) in Material Management<\/li>\n<li>Pricing Objectives in Material Management<\/li>\n<li>Principles for Responsible Investment (UNPRI) in Material Management<\/li>\n<li>Principles-Based Accounting Standards in Material Management<\/li>\n<li>Procurement in Material Management<\/li>\n<li>Product lifecycle management (PLM) in Material Management<\/li>\n<li>Product serialization in Material Management<\/li>\n<li>Production planning in Material Management<\/li>\n<li>Professional Director in Material Management<\/li>\n<li>Protected Disclosure in Material Management<\/li>\n<li>Proxy Access in Material Management<\/li>\n<li>Proxy Contest (Proxy Fight) in Material Management<\/li>\n<li>Purchase order (PO) in Material Management<\/li>\n<li>Purchasing Procedures in Material Management<\/li>\n<li>Purchasing Systems in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"Q\">Q<\/h2>\n<ul>\n<li>Quality assurance in Material Management<\/li>\n<li>Quality control in Material Management<\/li>\n<li>Quality inspection in Material Management<\/li>\n<li>Quality management system (QMS) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"R\">R<\/h2>\n<ul>\n<li>Radio Frequency Identification (RFID) in Material Management<\/li>\n<li>Raw material inventory in Material Management<\/li>\n<li>Receiving and inspection in Material Management<\/li>\n<li>Recourse in Material Management<\/li>\n<li>Register of Directors\u2019 Interests in Material Management<\/li>\n<li>Regulatory Reporting in Material Management<\/li>\n<li>Reorder point in Material Management<\/li>\n<li>Replenishment lead time in Material Management<\/li>\n<li>Replenishment planning in Material Management<\/li>\n<li>Reputation in Material Management<\/li>\n<li>Reputational Risk (Reputational Damage) in Material Management<\/li>\n<li>Resilience in Material Management<\/li>\n<li>Restricted Stock in Material Management<\/li>\n<li>Return merchandise authorization (RMA) in Material Management<\/li>\n<li>Reverse logistics in Material Management<\/li>\n<li>RFID tracking in Material Management<\/li>\n<li>Risk Culture in Material Management<\/li>\n<li>Risk in Material Management<\/li>\n<li>Risk Management in Material Management<\/li>\n<li>Risk Tolerance in Material Management<\/li>\n<li>Rules-Based Accounting Standards in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"S\">S<\/h2>\n<ul>\n<li>Safety data sheets (SDS) in Material Management<\/li>\n<li>Safety stock in Material Management<\/li>\n<li>Sarbanes-Oxley Act of 2002 (SOX) in Material Management<\/li>\n<li>Scrap management in Material Management<\/li>\n<li>Self Interest in Material Management<\/li>\n<li>Service level agreement (SLA) in Material Management<\/li>\n<li>Service level metrics in Material Management<\/li>\n<li>Severance Agreement in Material Management<\/li>\n<li>Share (Stock) Options in Material Management<\/li>\n<li>Shareholder Agreement in Material Management<\/li>\n<li>Shareholder Democracy in Material Management<\/li>\n<li>Shareholder in Material Management<\/li>\n<li>Shareholder Relations (Investor Relations, IR) in Material Management<\/li>\n<li>Shareholder-Centric Perspective in Material Management<\/li>\n<li>Shelf life management in Material Management<\/li>\n<li>Shipment tracking in Material Management<\/li>\n<li>Six Sigma in Material Management<\/li>\n<li>SKU rationalization in Material Management<\/li>\n<li>Sourcing strategy in Material Management<\/li>\n<li>Spare parts management in Material Management<\/li>\n<li>Staggered Board (Classified Board) in Material Management<\/li>\n<li>Stakeholder-Centric Perspective in Material Management<\/li>\n<li>Stakeholders in Material Management<\/li>\n<li>Stock keeping unit (SKU) in Material Management<\/li>\n<li>Stock turnover rate in Material Management<\/li>\n<li>Stockout in Material Management<\/li>\n<li>Stores Management in Material Management<\/li>\n<li>Strategic sourcing in Material Management<\/li>\n<li>Succession Planning (CEO Succession Planning) in Material Management<\/li>\n<li>Supervisory Board in Material Management<\/li>\n<li>Supplier collaboration in Material Management<\/li>\n<li>Supplier collaboration portal in Material Management<\/li>\n<li>Supplier diversity in Material Management<\/li>\n<li>Supplier evaluation in Material Management<\/li>\n<li>Supplier onboarding in Material Management<\/li>\n<li>Supplier performance management in Material Management<\/li>\n<li>Supplier relationship management (SRM) in Material Management<\/li>\n<li>Supply chain management in Material Management<\/li>\n<li>Supply chain optimization in Material Management<\/li>\n<li>Supply chain risk management in Material Management<\/li>\n<li>Supply chain visibility in Material Management<\/li>\n<li>Sustainability practices in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"T\">T<\/h2>\n<ul>\n<li>Tag-Along Rights in Material Management<\/li>\n<li>Terms of Reference (TOR) in Material Management<\/li>\n<li>Third-party logistics (3PL) in Material Management<\/li>\n<li>Total cost of ownership (TCO) in Material Management<\/li>\n<li>Total landed cost in Material Management<\/li>\n<li>Total productive maintenance (TPM) in Material Management<\/li>\n<li>Traceability in Material Management<\/li>\n<li>Transit time in Material Management<\/li>\n<li>Transparency in Material Management<\/li>\n<li>Transportation management in Material Management<\/li>\n<li>Transportation mode selection in Material Management<\/li>\n<li>Trust in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"U\">U<\/h2>\n<ul>\n<li>Unit cost in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"V\">V<\/h2>\n<ul>\n<li>Vendor Management in Material Management<\/li>\n<li>Vendor rating in Material Management<\/li>\n<li>Vendor-managed inventory (VMI) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"W\">W<\/h2>\n<ul>\n<li>Warehouse layout optimization in Material Management<\/li>\n<li>Warehouse management system (WMS) in Material Management<\/li>\n<li>Work-in-progress (WIP) in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<h2 id=\"X\">X<\/h2>\n<ul>\n<li>XYZ Analysis in Material Management<\/li>\n<\/ul>\n<div><a href=\"#top\">Go to Top<\/a><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Important definitions and terminologies used in Material Management ABCDEFGHIJKLMNOPQRSTUVWX A ABC Analysis in Material Management ABC classification in Material Management Acceptance Sampling Plans in Material Management Accounting System in Material Management Activity-Based Costing in Material Management Advance Payment in Material Management Asset tracking in Material Management Audit Committee in Material Management Automatic Procurement Items in&#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128640","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Material Management Glossary - Tutorial<\/title>\n<meta name=\"description\" content=\"What is Material Management? 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