SUPPLY CHAIN VISION LOGISTICS TERMS and GLOSSARY Updated October 2003 Accounts payable(A/P): The value of goods and services acquired for which payment has not ret been made Accounts receivable(A/R): The value of goods shipped or services rendered to a customer on whom payment has not yet been received. Usually includes an allowance for bad debts Accreditation: Certification by a recognized body of the facilities, capability, objectivity competence, and integrity of an agency, service, operational group, or individual to provide the specific service or operation needed For example, the Registrar Accreditation Board accredits those organizations that register companies to the ISo 9000 Series Standards Accredited Standards Committee(ASC): A committee of ANSI chartered in 1979 to develop uniform standards for the electronic interchange of business documents. The committee develops and maintains U.S. generic standards(X12)for Electronic Data Interchange Accumulation bin: A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor. Syn: assembly bin Accuracy: In quality management, the degree of freedom from error or the degree of conformity to a standard. Accuracy is different from precision. For example, four-Significant-digit numbers are less precise than six-significant-digit numbers, however, a properly computed four significant-digit number migl more accur ate than an improperly computed six-significant digit numb ACD: See automated Call Distribution ACH: See Automated clearinghouse Acknowledgment: A communication by a supplier to advise a purchaser that a purchase order has been received. It usually implies acceptance of the order by the supplier Acquisition Cost: In cost accounting, the cost required to obtain one or more units of an item. It order quantity times unit cost. Action Message: An output of a system that identifies the need for and the type of action to be taken to correct a current or potential problem. Examples of action messages in an MRP system include release order, reschedule in, reschedule out, and cancel. Synonym: exception message action report Action Report: See Action Message Definitions compiled by Kate vitasek Bellevue. Washington Please note: The Council of Logistics Management does not take responsibility for the content of these definitions, nor does the Council endorse these as official definitions except as noted.SUPPLY CHAIN VISIONS LOGISTICS TERMS and GLOSSARY Updated October 2003 Definitions compiled by: Kate Vitasek Supply Chain Visions Bellevue, Washington Please note: The Council of Logistics Management does not take responsibility for the content of these definitions, nor does the Council endorse these as official definitions except as noted. Accounts payable (A/P): The value of goods and services acquired for which payment has not yet been made. Accounts receivable (A/R): The value of goods shipped or services rendered to a customer on whom payment has not yet been received. Usually includes an allowance for bad debts. Accreditation: Certification by a recognized body of the facilities, capability, objectivity, competence, and integrity of an agency, service, operational group, or individual to provide the specific service or operation needed. For example, the Registrar Accreditation Board accredits those organizations that register companies to the ISO 9000 Series Standards. Accredited Standards Committee (ASC): A committee of ANSI chartered in 1979 to develop uniform standards for the electronic interchange of business documents. The committee develops and maintains U.S. generic standards (X12) for Electronic Data Interchange. Accumulation bin: A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor. Syn: assembly bin. Accuracy: In quality management, the degree of freedom from error or the degree of conformity to a standard. Accuracy is different from precision. For example, four-significant-digit numbers are less precise than six-significant-digit numbers; however, a properly computed four￾significant-digit number might be more accurate than an improperly computed six-significant￾digit number. ACD: See Automated Call Distribution ACH: See Automated Clearinghouse Acknowledgment: A communication by a supplier to advise a purchaser that a purchase order has been received. It usually implies acceptance of the order by the supplier. Acquisition Cost: In cost accounting, the cost required to obtain one or more units of an item. It is order quantity times unit cost. Action Message: An output of a system that identifies the need for and the type of action to be taken to correct a current or potential problem. Examples of action messages in an MRP system include release order, reschedule in, reschedule out, and cancel. Synonym: exception message, action report. Action Report: See Action Message