Commonly used in large, centralized corporations as .a military-type organizational structure.

A discreet unit of information in a document, record, or statement, displayed on its own separate line. A budget element separately identified is often referred to as a line item.

Daily operations such as purchasing, manufacturing, and selling associated with its organizational decision making areas. Also refer to staff function.

Pollution liability coverage as a commercial form that does not offer cleanup expense coverage if such a claim is made.

The legal protection limiting each shareholder to the par value of fully paid-up company shares to cover the financial liability of the company’s debts and obligations in a privately or publicly owned

self-contained departments defining the business or industry structure. Each department manager control over department’s affairs and employees. Accountability goes upwards from the bottom along the chain of command, while authority travels downwards

Insurer’s categorization of the products and policies it sells, such as Homeowners, Health or Life.

Customs approved system for tracking and release of repetitive, low risk shipments. It is restricted to locations approved by Customs. Bar code technology enables immediate item entry that Customs declares to be

Repetitive manufacturing process with the same operations sequence each product passes through. The machines and peripheral equipment are in the order they are used. The process is not stopped and restarted for

Screws, washers, nuts and bolts do not merit piece by piece costing, being of such low value, yet, are identified as common parts or components of a product.

A broker-written document describing a prospective risk that is given to underwriters to decide on their willingness to insure what fraction of risk described.

Distribution or transmission system having inherent inefficiencies or defects leads to this waste of electrical energy.

An asset that provides payoff. Refer to nonlinear instrument.

A Statistical term. Defines the relationship of direct proportionality between two variables, expressed by a linear functions, graph plots a straight line, when one variable changes the other variable must change in

Mathematical technique that uses scatter graph data points to find the best fit of a straight line as a linear function. Reason for this effort is to project future function values. Extending

1. A scheduled service between fixed ports on a trade route by such a cargo and/or passenger transport shipping line operations. 2. Material placed between two other materials to serve as a

Long distance cargo transport for more than 1,500 kilometers or 1,000 miles between two major cities or ports.

A straight line movement of goods from one end of the supply chain to the other in a traditional distribution channel.

The maximum amount of insurance a company can write without seeking a reinsurer.

Three distinct stages of (1) creation, (2) use and maintenance, and (3) disposition or disposal exist for each document and record. Defined as a management concept.