Public Budgeting Term Paper

Total Length: 568 words ( 2 double-spaced pages)

Total Sources: 1+

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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 cost of ownership of a commodity or building

10.


Minimization of the number of goods purchased

11.

Purchasing and maintenance costs

12.

Ordering costs are weighed against storage costs

13.

Cost of preparing specifications, obtaining competitive bids, negotiating, and receiving items

14.

activity which involves procuring materials, supplies, and equipment

15.

Preventative techniques against theft, burglary, and vandalism

16.

Unique extra costs due to specific orders

17.

Found by adding the safety stock inventory with the EOQ

18.

Costs associated with deterioration, storing, issuing, theft, handling, interest and insurance

19.

High-repair cost items

20.

Complete description of the goods and services needed

There are a number of factors that control governmental risk. These take the form of preventative risk reduction and risk management. Loss prevention techniques can also be….....

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"Public Budgeting", 31 January 2012, Accessed.29 June. 2024,
https://www.aceyourpaper.com/essays/public-budgeting-53912