Kiting What is 'Kiting' Kiting is the act of misrepresenting the value of a financial instrument for the purpose of extending credit obligations or increasing financial leverage. 2. A fr

Kiosk What is 'Kiosk' A kiosk is a small, temporary, stand-alone booth used in high-traffic areas for marketing purposes. A kiosk is usually manned by one or two individuals who help attra

Make To Order (MTO) What does 'Make To Order - MTO' mean Make to order (MTO) is a business production strategy that typically allows consumers to purchase products that are customized to t

Make To Stock (MTS) What does 'Make To Stock - MTS' mean Make to stock (MTS) is a traditional production strategy that is used by businesses to match production and inventory with consumer

DefinitionBait-and-switch is a form of fraud used in retail sales, but also employed in other contexts. Bait And Switch What is 'Bait And Switch' A dishonest marketing tactic in which a ma

Back Order What is a 'Back Order' A back order is a customer order that has not been fulfilled. A back order generally indicates that customer demand for a product or service exceeds a com

Back-To-Back Letters Of Credit What are 'Back-To-Back Letters Of Credit' Back-to-back letters of credit consist of two letters of credit (LCs) used together to finance a transaction. A bac

DefinitionQuality management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality imp

DefinitionIn a supply chain, a vendor, or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to

DefinitionA value proposition is a promise of value to be delivered, communicated, and acknowledged. It is also a belief from the customer about how value will be delivered, experienced and