FORECAST is to estimate or calculate expected business results in advance. To plan the business course for the future. A document that sets down the plan.
BILL OF MATERIALS (BOM) is a listing of all the assemblies, sub-assemblies, parts, and raw materials that are needed to produce one unit of a finished product. Each finished product has its own bill of materials.
SALES ORDER, also known as SALES CONTRACT, is a contract by which buyer and seller agree to the terms and conditions of a sale.
PURCHASE ORDER is a written authorization for a vendor to supply goods or services at a specified price over a specified time period. Acceptance of the purchase order constitutes a purchase contract and is legally binding on all parties.
PURCHASE REQUISITION is a written request for goods to be purchased. It is usually prepared by a department head or manager and sent to a firm's purchasing department.
ORDER ENTRY, normally, is a computerized relational database that, at a minimum, generates, schedules and maintains estimates, sales orders and backlogs. Invoices may also be created automatically if linked to Accounts Receivable. More advanced order entry systems are usually fully integrated with the accounting system.
MATERIALS REQUIREMENT REPORT is a report generated as a result to a MATERIALS REQUIREMENT PLAN, which is an approach to inventory management that seeks to reduce required inventory levels by scheduling production to meet sales forecast demands, rather than estimating needs. This report lists all materials needed to support jobs in process and fill new production orders. It is sent to purchasing so that they can generate purchase orders to various vendors to bring materials needed to start or continue production.
MACHINE LOADING FILE lists each machine’s operational requirements.
OPERATIONS FILE is a collection of OPERATIONS LISTS, also known as a ROUTING SHEET, is a document that specifies the labor and machine requirements needed to manufacture the product. It is also referred to as a ROUTING SHEET because it indicates how much time each operation should take.
OPERATION LISTS include detailed labor operations, their sequencing, and their related machine requirements.
MOVE TICKET is a document that identifies the internal transfer of parts, the location to which they are transferred and the time of the transfer.
MATERIALS ISSUE CARDS are used to track the raw materials issued to each specific order (each inventory item has its own card showing withdrawals and issuances).
PRODUCTION ORDER is a document authorizing the manufacture of a specified quantity of a particular product. It lists the operations to be performed, the quantity to be produced, and the location to which the finished product is to be delivered.
PRODUCTION SCHEDULE includes the scheduled starting dates for all work centers. It computes man and machine hours for each specific production operation.
BACK ORDER, a document authorizing the purchase or production of items for which sufficient quantity is not available to meet customer orders.
Accounting Information Systems 9/E, Romney/Steinbart