Some acronyms and retail terms explained

Here are some more retail terms and acronyms explained:.

Action Alley: The sales area of a store located immediately after entering.

ANSI: American National Standard Institute

Breakpack: A carton received in the warehouse with two or more inner selling units that can be broken down and shipped to the stores.

Case Pack: Merchandise shipped in full cases. Cartons cannot be broken into smaller cases.

CO-OP: An advertising allowance offered by a vendor, payable upon proof of an ad having been run.

FOB: Free on Board or Freight on Board - the point at which the ownership of merchandise passes to the purchaser. Used to indicate that the seller provides transportation from the factory to trucks, railcars or consolidators after which the buyer pays all the carrier charges.

Gondola: Primary merchandising fixture consisting of a base, free-standing vertical wall, and a number of four of sections of shelving.

Gross Margin Percent: The Gross Margin Percent is calculated as follows:  Sales - Cost / Sales = Gross Margin Percent.

Letter Of Credit: The method of payment for import purchase orders.

LIFO: Last In, First Out - A method used in rotating inventory.

LTL: Less then Truckload - mixed freight, not all the same supplier or purchase order.

MABD: Must Arrive by Date - The date in which a purchase order must be received at the warehouse. 

Master Carton: Several cases being shipped in one package. These can be broken down into the individual cases and sent to stores.

Master Pack: Carton received that contains more than one warehouse pack or shipping unit inside it. This is very common in certain orders, such as imports.

TI/HI: Also called Pallet Pattern. TI refers to the number of cases that make up a tier or layer on a pallet. HI refers to the number of tiers or layers on the pallet. A pallet holding five cases of an item on a layer, stacked four high has a TI/HI of 20.

Turn: Sometimes called a cycle. The number of times a product completes a cycle of moving through a warehouse generally measured within a year’s time.

UCCNET: Uniform Code Council Network - A not-for-profit subsidiary of the Uniform Code Council, provides globally-endorsed item registration and synchronization services that reduce the costs and delays associated with bad data. By utilizing UCCnet services, companies and their trading partners can achieve significant improvements in supply chain efficiency by using and exchanging information that is: accurate, up to date and compliant with industry standards.

Vendor Pack: Original packaged quantity or merchandise as shipped from the vendor.

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